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Any dispute arising out of or in connection with this contact, including any disputes regarding the existence, validity, or termination thereof, shall be settled by arbitration administered by The Danish Institute of Arbitration in accordance with the rules of simplified arbitration procedure adopted by The Danish Institute of Arbitration and in force at the time when such proceedings are commenced.

The place of arbitration shall be .

The language to be used in the arbitral proceedings shall be .

This contract shall be governed by the substantive law of .