back and each lot in issue shall be invoiced back at that price. Such price
may at the Board’s absolute discretion take account of any compensation the
Board may consider should be paid by either party to the other.
10. Force Majeure
10.01 Subject to any steps taken at any time by the Board under emergency
powers in the Rules, a Seller or a Buyer shall be liable to perform his obliga-
tions in respect of a lot comprised in a Contract by the due time therefore,
notwithstanding that he may be or is likely to be prevented from so doing by
any event beyond his reasonable control including, without limitation, any
act of God, strike, lockout, war, armed conflict, use of force by authority of
the United Nations, fire, riot or civil commotion, combination of workmen,
act of terrorism, breakdown of machinery, unavailability or restriction of
computer or data processing facilities or energy supplies or bank transfer
systems.
11. Articles, Rules, Regulations, etc.
11.01 Every Contract shall be subject to the Articles and the Rules and the
Regulations in so far as applicable notwithstanding that either or both of the
parties to it be not a member of the Exchange or of the Clearing House.
11.02 In case of any conflict between the Administrative Procedures and
these terms or the Rules, the provisions of these terms and the Rules shall
prevail and, in the event of any conflict between these terms and the Rules,
the Rules shall prevail.
12. Arbitration
12.01 Subject to term 12.02, any dispute arising from or in relation to a
Contract shall be referred to arbitration under the Rules relating to arbitra-
tion and arbitration shall be held in accordance with the Rules in force at
the time of such reference.
12.02 No dispute arising from or in relation to any invoicing back price fixed
by the Board under these terms shall be referred to arbitration under the
Rules.
13. Governing Law
13.01 Every Contract shall be governed by and construed in accordance
with English law.
14. Non-registered Contracts
14.01 In respect of a Contract which is not a registered Contract (‘non-
registered Contract’) these terms shall be modified by the parties thereto so as
to require and allow that a Contract to be registered with the Clearing House
under the Rules and the Regulations is capable of being so registered, and to
facilitate performance of such Registered Contract (and of any intermediate
208 Euronext.liffe equity index future contract specification