Shanghai Contake Chemicals Co Ltd v Gren Automotive Inc - China International Economic and Trade Arbitration Commission - Arbitral Award - 2007 Zhong Guo Mao Zhong Jing Cai Zi No. 0498 - English - 26 October 2007
On the grounds of the above majority opinion of the Arbitration Tribunal, the Arbitration Tribunal, after deliberation, lawfully renders an award as follows:
3.1. The Respondent shall pay to the Claimant the owed payment for goods in the sum of US$294,576;
3.2. The Respondent shall indemnify the Claimant against the loss of US$15,156.35 arising out of breach of contract; the Respondent shall also pay to the Claimant the interest calculated from April 1, 2007 to the date of actual payment by the Respondent at an annual rate of 5.6% and with US$294,576 as the base;
3.3. The Respondent shall pay to the Claimant the attorney fee of RMB 57,000 Yuan;
3.4. Other arbitration claims of the Claimant are hereby dismissed:
3.5. The arbitration fees for this Case was RMB 82,648 Yuan totally (prepaid by the Claimant), 5% (RMB 4.132.4 Yuan) shall be assumed by the Claimant, and 95% (RMB 78,515.6 Yuan) shall be assumed by the Respondent; the Respondent shall pay directly to the Claimant the attorney fee of RMB 78,515.6 Yuan paid by the Claimant on behalf thereof.
The above amounts payable by the Respondent to the Claimant shall be paid off within 15 days from the date when this Award is rendered.
This Award is final and shall come into force as from the date when it is rendered.
Chief Arbitrator: [Signature] Yan Siyi Arbitrator: [Signature] An Hongqi Arbitrator:
OCR Errors may be present.