Any dispute, debate or problem arising out of or in connection with the preparation, effect, understandings, applicable scope, breaches or cancellation of this Agreement shall be settled first of all by good faith negotiation. Any disputes arising out of or relating to this Agreement shall be finally settled by arbitration Singapore in accordance with the Rules on Arbitration and Conciliation of the International Chamber of Commerce. The arbitration shall be conducted in the English language. The award rendered by arbitrator shall be final and binding upon the Parties