act. A contract with a third party as the
guarantor shall be formed upon the signing and sealing of the
contract by the guarantor and the guaranteed party.
@@ Article 12. The price or remuneration and the means of payment
shall be agreed upon by the parties to a technology contract.
@@ Article 13. A party may entrust an agent to conclude a
technology contract on its behalf. The entrusting party shall
issue a power of attorney to the agent. The agent shall conclude the
contract in the name of the entrusting party and within the scope of
authority delegated to him by the entrusting party.
@@ Article 14. Intermediary agencies that provide services
for the conclusion of technology contracts shall comply with
the relevant provisions of this Law and adhere to the
principles of honesty and creditability, and may collect reasonable
fees.
@@ Article 15. The provisions of a technology contract shall be
agreed upon by the parties, and shall normally contain the following:
(1) title of the project;
(2) contents, scope and requirements of the object;
(3) plan, schedule, time limits, place and manner of performance;
(4) maintenance of confidentiality of technological information and
materials;
(5) liability for risks;
(6) ownership and sharing of technological achievements;
(7) standards and methods of inspection and acceptance;
(8) price or remuneration and means of payment;
(9) breach of contract damages or methods for computing the
amount of compensation for losses;
(10) methods for settling disputes; and
(11) interpretation of terms and technical expressions.
Background materials on the technology, reports on feasibility
studies and technological appraisal, project descriptions and
plans, technological standards, technological norms, original
designs and documents on technological processes, as well as
blueprints, charts, data and photographs, etc. , that are
pertinent to the performance of the contract may, by agreement
between the parties, become an integral part of the contract.
@@ Article 16. As soon as a technology contract is formed according
to law, it shall have legally binding force, and the parties shall
fully perform the obligations agreed upon in the contract. No
party may unilaterally modify or rescind the contract.
@@ Article 17. If a party to a technology contract fails to
perform the contract or its performance of the contractual obligations
does not conform to the agreed terms, which constitutes a breach of
the contract, the other party shall have the right to demand
performance of the contract or adoption of remedial measures, and
it shall also have the right to claim compensation for its losses.
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