The Award made by the arbitration tribunal is shown as follows:
(I) The Respondent shall pay the Applicant two outstanding payments for the goods which is USD1,372,445.10 in total;
(II) The Respondent shall pay the interest for the overdue payment to the Applicant as much as USD74,991, along with the interest for the overdue payment calculated from March 8, 2013 to the actual payment date with the annual interest rate as 2.53% and the principal as USD1,372,445.10.
(III)The Respondent shall pay the Applicant RMB633,489.67 as the exchange loss caused by the Respondent's overdue payment.
(IV)The Respondent shall compensate the Applicant RMB230,000 as the lawyer's fee paid by the Applicant for the case;
(V) The arbitration cost of the case is RMB225,782; the Applicant shall bear 10%, i.e.
RMB22,578.20, and the Respondent shall bear 90%, i.e. RMB203,203.80. Whereas the Applicant has fully prepaid the arbitration cost, the Respondent shall pay the Applicant RMB203,203.80;
The payments involved in Item (I), (II), (III), (IV) and (V) of the Award shall be paid by the Respondent to the Applicant in a lump sum within 15 days from the date when the Award enters into force.
The Award is final and enters into force on the date of issuance.
Chief Arbitrator: Liu Xiaohong (Signature)
Arbitrator: Chen Gang (Signature)
Arbitrator: Liu Ying (Signature)
Shanghai, June 13, 2014
With the seal of Shanghai International Economic and Trade Arbitration Commission (Shanghai International Arbitration Center)
OCR errors may be present.