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Circumstances that the party required to perform first may suspend its performance

Updated: Mar 30, 2018 english.legalinfo.gov.cn Print

The party required to perform first may suspend its performance if it has conclusive evidence establishing that the other party is in any of the following circumstances: (1) its business has seriously deteriorated; (2) it has engaged in transfer of assets or withdrawal of funds for the purpose of evading debts; (3) it has lost its business creditworthiness; and (4) it is in any other circumstance which will or may cause it to lose its ability to perform.

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