Sponsorship Agreement Terms And Conditions

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2.1. Unless the sponsorship contract is otherwise stipulated, the sponsor bears the sponsorship costs to the company immediately after the implementation and delivery of the sponsorship contract, as stipulated in the sponsorship agreement. These terms and conditions are governed by the laws of the emirate of Dubai and the federal laws of the Emirates of Dubai, and disputes in the context or in connection with them are subject to the non-exclusive jurisdiction of the Dubai courts. 8.3 The terms of this agreement will not be disclosed to third parties without the prior written consent of both parties. In the event that the sponsor does not fulfill its payment obligations (whether with respect to the amounts or the date of payment), the organizer is entitled, at his sole discretion, to decide that the sponsor has terminated its sponsorship for the event and that it exercises its rights under point 3 (cancellation and resale of sponsorship items). 13.1. Mediation. When a claim, disagreement or dispute between the parties or in the interpretation or execution of the sponsorship agreement (hereinafter referred to as “disagreement”) occurs or exists, each party may require the other party to provide in writing the reasons of its position, and then enter into good faith negotiations to try to resolve the disagreement. If such a disagreement cannot be resolved through good faith negotiations within 30 days, each party may decide in writing to submit the dissent dispute of mediation in accordance with the rules of commercial mediation to the American Arbitration Association. If one party chooses it, the other party submits to mediation. The mediator is chosen by the company`s external advisor, if it exists, or, if the company does not have external legal assistance, and then by its certified accountant, within ten (10) days of written notification of the election. This mediation takes place within 20 miles of Ann Arbor, Michigan, unless otherwise agreed.