China: Regulators Nearly Battle Ready

Last Updated: 5 May 2009

Article by Martyn Huckerby, Kien Choong and Sharon Wong

Originally Published 30th April 2009

Predictions of a Chinese antitrust/competition law revolution appear to be well founded following new incentives to encourage whistle-blowing, unique minimum fines of one per cent of turnover, a court system increasingly prepared to accept private actions and another conditional merger control decision.

In this review, we focus on the latest merger clearance decision by the Ministry of Commerce (MOFCOM) and new draft rules on monopoly agreements and abuse of dominance, published on 27 April, that look set to create a raft of regulatory investigations in China and will require firms to reassess their China regulatory strategy.

Part 1: MOFCOM approves Mitsubishi Rayon's acquisition of Lucite subject to conditions - 24 April 2009

On 24 April 2009, one month after rejecting Coca-Cola's China juice deal, MOFCOM announced its decision to clear Mitsubishi Rayon Co. Ltd.'s (Mitsubishi Rayon) acquisition of Lucite International Group Limited (Lucite). The clearance is subject to conditions placed on Mitsubishi Rayon.

Notably, the conditions include a requirement to "divest" production capacity upfront. While this is not the first time MOFCOM has cleared a transaction subject to conditions (please see our previous alert regarding InBev's acquisition of Anheuser-Busch), it is the first time the conditions include divestiture of production capacity. The subject matter of the divestment is unusual in that it concerns production capacity over a five-year period, not actual assets.

Another notable condition is that the merged entity must seek approval from MOFCOM for any future expansion in investment capacity, whether by acquisitions or by investment in new plants. While the former is reminiscent of a similar condition in the InBev deal, the Mitsubishi Rayon deal is unusual in that MOFCOM's approval is required even for investments in new plant capacity. Since investment in new plant capacity represent organic growth rather than acquisition of capacity from competitors, such investments are normally pro-competitive.

Background and merger review process

Mitsubishi Rayon is a leading manufacturer of monomers and polymers, based on its methyl methacrylate (MMA) and acrylonitrile (AN) complexes. Lucite is the world's largest supplier of MMA, accounting for 24 per cent of the global acrylic monomer market. Mitsubishi Rayon and Lucite each have MMA plants in China.

On 11 November 2008, Lucite announced that it would be acquired by Mitsubishi Rayon. The parties sought merger clearance from MOFCOM on 22 December 2008. On 20 January 2009, MOFCOM commenced preliminary review of the acquisition. On 20 February 2009, MOFCOM decided to conduct a further review of the transaction, slating this for completion by 20 May 2009. Finally, on 24 April 2009, MOFCOM announced it had cleared the concentration, subject to conditions.

Competition concerns

MOFCOM consulted extensively with relevant industry associations, MMA manufacturers, polymethyl methacrylate acrylic (PMMA) moulding compounds producers and PMMA acrylic sheet manufacturers, as well as the parties to the transaction.

MOFCOM found that the merged entity would supply 64 per cent of the MMA market, which would give Mitsubishi Rayon a dominant market position (horizontal impacts). In particular, Mitsubishi Rayon's market share would be significantly larger than those of the second and third largest suppliers in China, being Jilin Petrochemical and Heilongjiang Longxin Company, respectively.

Furthermore, as Mitsubishi Rayon had business activities in two markets downstream of MMA, MOFCOM found that the merged entity could use its dominance in MMA to restrict competition in those downstream markets (vertical impacts). In particular, MOFCOM was concerned that the merged entity would produce "blocking effects" on downstream competitors by using its dominant position in the upstream MMA market.

Conditions of clearance

MOFCOM invited Mitsubishi Rayon to propose restrictive conditions to address the anti-competitive effects identified by MOFCOM. Both parties were invited to comment on MOFCOM's concerns and, in response, submitted an initial and then a revised remedies proposal for MOFCOM's consideration. MOFCOM concluded that the proposed remedies were sufficient to alleviate any negative impact caused and approved the transaction.

MOFCOM imposed a variety of conditions on the concentration. The conditions are:

  1. Partial divestiture (and threat of full divestiture): Within six months of completing the concentration, Lucite China must divest 50 per cent of its annual production capacity over five years to unaffiliated third party purchasers (partial divestiture of capacity). Under the terms of the divestiture, unaffiliated third party purchasers will be entitled to purchase MMA products produced by Lucite China for five years at production cost without any profit margin. The cost price is to be verified by an independent auditor. This arrangement in effect gives downstream rivals of Mitsubishi Rayon access to upstream MMA production at cost-based prices.
    If the parties fail to divest within six months (plus any extension granted by MOFCOM), MOFCOM may appoint an independent trustee to sell 100 per cent equity of Lucite China to an independent third party (full divestiture of assets in China).
  2. Lucite China to remain operationally independent until divestiture: From the close of the transaction to the divestiture (divestment period), Lucite China must remain operationally independent of Mitsubishi Rayon. The parties must not share any pricing, customer and other competitive information in relation to the China market. Lucite China and Mitsubishi Rayon must have separate management and board members during the divestment period. Any contravention of this condition may result in fines from RMB 250,000 to RMB 500,000.
  3. Restrictions on expansion in China for five years: Unless MOFCOM grants its approval, the new merged entity must not expand its MMA monomer, PMMA polymer or cast sheet production capacity in China either by acquisition or establishing new plants. This condition is reminiscent of the InBev acquisition of Anheuser-Busch, which was cleared subject to restrictions on future acquisitions. Unlike the InBev transaction however, the restriction applies also to organic growth (via new plants), as well as to acquisitions of competitors. It is not clear what the rationale for restricting investments in new plant capacity may be, since any such investments would normally be regarded as pro-competitive.

Implications for businesses conducting mergers

Whereas the Coca-Cola deal concerned a foreign bid for a famous Chinese brand (see previous alert), the Mitsubishi Rayon acquisition of Lucite is a global merger between two foreign firms with operations in China. The key lessons from this deal include:

  1. Global mergers between firms with substantial operations in China are likely to require merger clearance from Chinese competition authorities
  2. Merger clearance may take up to four months from formal filing; consequently parties should allow plenty of time for merger clearance in China
  3. To secure merger clearance, it may be necessary to divest local assets in China. Having said that, partial divestiture of production capacity (rather than actual assets) for a specified period (e.g. five years) may be sufficient, and
  4. Where two parties to a transaction have operations in the same or related markets in China, they should anticipate any clearance decision being subject to restrictions requiring MOFCOM approval for future expansion.

Mitsubishi Rayon's success suggests that negotiations with MOFCOM during the merger review process play a key role in getting a deal through, especially where MOFCOM has identified significant concerns. A comprehensive submission, coupled with well structured remedy proposals, may persuade MOFCOM to allow a concentration to proceed subject to restrictive conditions.

A concern for many is perhaps that the merging parties cannot easily determine whether a proposed remedy adequately addresses MOFCOM's concerns. This uncertainty is heightened in part by the lack of transparency around the negotiation process. Neither the PRC Anti-Monopoly Law (AML) nor its implementation rules provide clear guidelines to assist. Given the nature of the exercise, parties should engage MOFCOM early on in the merger review process to allow ample time to attend to MOFCOM's concerns.

Part 2: SAIC publishes draft implementation rules for consultation

In March and early April 2009, the State Administration for Industry and Commerce (SAIC) circulated draft rules to a small circle of AML professionals in China for preliminary comment. These included the following:

  • Provisions on Prohibiting Monopoly Agreements: These draft rules set out which monopoly agreements are prohibited and SAIC's authority over these activities (Draft Rule No. 1)
  • Provisions on Prohibiting Abuse of Dominant Market Position: These draft rules explain what would be deemed as a "dominant market position", what activities by undertakings with dominant market position are prohibited and SAIC's authority over these activities (Draft Rule No. 2), and
  • Rules on Procedures for Industry and Commerce Authorities to Investigate and Sanction Monopoly Agreements and Abuses of a Dominant Market Position: These rules set out the process that SAIC will follow when investigating and sanctioning abusive conduct by firms (Draft Rule No. 3).

On 27 April 2009, SAIC officially published amended Draft Rules No. 1 and No. 2 on its website to solicit public comment on or before 31 May 2009. SAIC has yet to officially publish Draft Rule No. 3 for public consultation. Below, we address some of the key issues arising from the three draft rules.

Monopoly agreements

What agreements are monopolistic? Are they prohibited per se?

Draft Rule No. 1 clarifies that a monopoly agreement may be written, oral or concluded by concerted acts or decisions. A monopoly agreement is not confined to express agreements; it includes "concerted conduct" pursuant to a tacit understanding between the parties. In determining whether parties have engaged in a "concerted act", SAIC will consider the rationale for the action and the market structure. Firms that closely mimic each other - for example, in raising or reducing prices - may well be found to have engaged in concerted acts even if the decision to raise or reduce prices is done independently of each other, without any communication between the parties.

The SAIC draft rules confirm that prohibited monopoly agreements include:

  1. Horizontal agreements (between competitors) that restrict volume on production or sales, divide a market for supplying or acquiring commodities, restrict technological development and contain boycotts, including a joint or coordinated refusal to sell to, or acquire from, another undertaking
  2. Bid rigging (among rivals) including collusion between rival bidders on who among them will be the winning bidder in a tender or bidding process
  3. Vertical arrangements (between buyers and suppliers) whereby a firm, without fair reason, requires its counterparties to trade exclusively with it or restricts the markets in which a counterparty may operate
  4. Bid rigging (between bidder and counterparty) where the counterparty inviting bids provides some bidders prior or privileged access to information that is not available to other bidders, and
  5. Other agreements yet to be determined by SAIC (suggesting that firms should continue monitoring future SAIC practices and developments that may impact the validity of their contractual arrangements).

The scope of a monopoly agreement is therefore very broad and potentially covers "parallel conduct", possibly including conduct engaged by parties acting unilaterally. However, monopoly agreements on price-related terms are expressly excluded from the draft SAIC rules. This is not because price-fixing is not a monopoly activity. Rather, it is because price-related conduct falls outside the jurisdiction of the SAIC. The National Development and Reform Commission ("NDRC") is the relevant enforcement authority for price-related matters under the AML.

It is not clear to what extent the mentioned monopoly agreements are prohibited outright (per se), regardless of whether the monopoly agreement can be shown to actually eliminate or restrict competition.

However, certain monopoly agreements may be exempted and these include agreements that develop new products or standards, improve technology and quality of products, improve operational efficiency or competitiveness of small and medium sized undertakings or protect the public interest. To qualify for the exemption, the firm must prove that the agreement will not substantially restrict competition and that consumers will benefit from the agreement (although this requirement does not apply to the exemption concerning the protection of legitimate interests in international trade and foreign economic cooperation).

What penalties may SAIC impose?

SAIC may impose administrative penalties that range from one to ten per cent of the turnover of the parties to a monopoly agreement. Draft Rule No. 1 confirms that where SAIC finds that a firm has entered into a monopoly agreement it must impose a fine of at least one per cent of turnover. While SAIC is yet to produce fining guidelines, it is likely that a firm's worldwide turnover across all markets could be taken into account in determining the quantum of the fine to be imposed. Parties who may be dissatisfied with penalties imposed may initiate administrative review or litigation in the courts.

Does SAIC have a "leniency policy"?

SAIC may, at its discretion, reduce administrative penalties imposed on a party (informant) if that informant provides "important evidence" about the monopoly agreement to which it is a party (as long as that party is not the "ringleader"). If the informant is the first person to report the monopoly agreement, SAIC may grant the informant full immunity from any penalty.

SAIC has also developed a "sliding scale" for discounting administrative penalties based on the informant's position in time relative to other informants:

If an informant is the: Discount on penalty
First to report a monopoly agreement 100 per cent
Second to report a monopoly agreement 50 per cent
Third to report a monopoly agreement 30 per cent

[Table 1: Discount on administrative penalty for being an early informant]

It is hoped that the final version of Draft Rule No. 1 will contain additional details regarding the practical application of the leniency policy. For example, nothing in the SAIC rules enables a prospective informant to anonymously negotiate an agreed outcome on the level of administrative penalties based on a broad description of the evidence that the informant claims to possess.

Abuse of dominant market position

What is a "dominant market position"?

Under the AML, a party has a dominant market position if it is able to:

  • control the price, volume or other factors that substantially influence market transactions, or
  • restrict new firms from entering into market within a reasonable time or the cost of entry increases (together, referred to as "Indicative Factors").

If a firm accounts for at least 50 per cent of the market, 66.7 per cent of the market coupled with another firm or 75 per cent of the market together with two other firms, the firm is presumed to have a dominant market position. Importantly, Draft Rule No. 2 confirms that these presumptions may be rebutted if the parties present sufficient evidence to show that new entry is very easy, that there is efficient competition between the firms said to be in a dominant market position or that the firm does not display any of the Indicative Factors.

To assess whether a firm has a dominant market position, SAIC will consider factors including the firm's market share, competition in the market, ease of entry into the market, the firm's capacity to control sales and purchase in downstream and upstream markets, respectively, and the extent to which others rely on the firm.

What is an abuse of a dominant market position?

Draft Rule No. 2 notes that dominant parties must not abuse their market position by engaging in prohibited activities "without fair reason", which includes refusing to transact with parties, exclusively dealing with select counterparts, tying products, imposing irrelevant terms, discriminating between counterparties and impeding the establishment of normal commercial relationships among other firms. The reference to "without fair reason" indicates that the listed activities are not prohibited per se and that a firm with a dominant market position may engage in the listed activities should a legitimate reason exist. That said, "fair reason" is an undefined term and remains subject to debate.

Do dominant undertakings have to provide access to essential facilities?

A late addition to Draft Rule No. 2 is a rule requiring dominant undertakings to provide access to a network or key infrastructure owned by the undertaking. The dominant undertaking may not refuse to give other undertakings access to the network or key infrastructure at reasonable terms. This development is significant in that it suggests that access to essential facilities is clearly a part of the AML. That said, important questions remain outstanding, including what "key infrastructure" means, and what term of access would be considered reasonable.

SAIC's enforcement procedures and powers over monopoly activities

SAIC's procedures for investigating and sanctioning monopoly agreements and abuses of a dominant market position (collectively "monopoly activities") are summarised in Figure 2 below. The SAIC rules seem to confer significant responsibility for enforcing the AML on the Industry and Commerce Authorities (ICA) at the provincial level (or below). The ICAs will carry out their work under SAIC's supervision.

[Figure 2: SAIC's procedures for investigating monopoly activities]

As with monopoly agreements, SAIC may impose administrative penalties that range from one to ten per cent of the turnover of a firm that has been found to have abused its dominant market position.

Undertakings to settle an investigation

Firms that are the subject of an investigation may apply for the investigation to be terminated if the ICA accepts an appropriate undertaking from the firm. The application must include a statement of the "violation facts" and effects, proposed measures for eliminating the effects and a detailed schedule (including timeframes) for fulfilling the commitments given by the firm.

The ICA may accept the application by making a written decision or monitor compliance with the undertaking. An investigation that is terminated may recommence if commitments are not fulfilled, information provided is incomplete or incorrect or there is a material change to the basis for terminating the investigation.

Implications for businesses operating in China

While AML-related developments to date have focused around private actions (which are increasingly being accepted by the courts in China) and MOFCOM's administration of the merger control regime under the AML, SAIC has now sent a clear message that it is preparing to take action against firms that are party to abusive agreements and those abusing their dominant market position. In its draft implementation rules, SAIC has laid the groundwork for a leniency policy that is likely to encourage the reporting of anticompetitive agreements, and has provided further details regarding its approach to the AML provisions relating to abuse of dominant market position. Firms operating in China should now prepare themselves for an increased level of regulatory activity and the potential for dawn raids by the investigators.

There are a number of steps that firms operating in China should now be taking to avoid the potential for fines of between one and ten per cent of turnover being imposed. In particular, firms should carefully review any long-term arrangements that they may have in place to ensure that none of those arrangements are monopoly agreements. Firms should also be especially careful about any discussions they may hold with rivals or prospective rivals, including at industry conferences.

Firms operating in highly concentrated markets or firms with substantial market shares may be at risk of being found to have a dominant market position. Any complaints from customers, suppliers or rivals should be carefully reviewed to ensure there is nothing that would lead to an ICA investigation. Firms should also prepare evidence to rebut the presumption of dominance in highly concentrated markets where they may in fact not be able to act free of competitive constraints.

On the other hand, firms dealing with incumbent undertakings possessing a dominant market position may have remedies available under the AML to address any abuses of dominance by those undertakings. In fact we understand that SAIC is currently preparing to commence two investigations in this area, one against a multi-national firm operating in China and one in relation to the conduct of Chinese state-owned enterprises.

The draft rules are likely to be amended before being finalised but are unlikely to be substantially revised. For example, the rules on monopoly agreements may be further amended to remove any suggestion that an industry association infringes the AML when its members agree to the minutes of a meeting.

The views set out in this publication are based on our experience as international counsel representing clients in their business activities in China. As is the case for all international law firms licensed in China, we are authorised to provide information concerning the effect of the Chinese legal environment. However we are not admitted to practice Chinese law and so are unable to issue opinions on matters of Chinese law.

This publication is only a general outline. It is not legal advice. You should seek professional advice before taking any action based on its contents.

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

Some comments from our readers…
“The articles are extremely timely and highly applicable”
“I often find critical information not available elsewhere”
“As in-house counsel, Mondaq’s service is of great value”

Related Topics
Related Articles
Up-coming Events Search
Font Size:
Mondaq on Twitter
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
Email Address
Company Name
Confirm Password
Mondaq Topics -- Select your Interests
 Law Performance
 Law Practice
 Media & IT
 Real Estate
 Wealth Mgt
Asia Pacific
European Union
Latin America
Middle East
United States
Worldwide Updates
Registration (you must scroll down to set your data preferences)

Mondaq Ltd requires you to register and provide information that personally identifies you, including your content preferences, for three primary purposes (full details of Mondaq’s use of your personal data can be found in our Privacy and Cookies Notice):

  • To allow you to personalize the Mondaq websites you are visiting to show content ("Content") relevant to your interests.
  • To enable features such as password reminder, news alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our content providers ("Contributors") who contribute Content for free for your use.

Mondaq hopes that our registered users will support us in maintaining our free to view business model by consenting to our use of your personal data as described below.

Mondaq has a "free to view" business model. Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. Once personal data is transferred to our Contributors they become a data controller of this personal data. They use it to measure the response that their articles are receiving, as a form of market research. They may also use it to provide Mondaq users with information about their products and services.

Details of each Contributor to which your personal data will be transferred is clearly stated within the Content that you access. For full details of how this Contributor will use your personal data, you should review the Contributor’s own Privacy Notice.

Please indicate your preference below:

Yes, I am happy to support Mondaq in maintaining its free to view business model by agreeing to allow Mondaq to share my personal data with Contributors whose Content I access
No, I do not want Mondaq to share my personal data with Contributors

Also please let us know whether you are happy to receive communications promoting products and services offered by Mondaq:

Yes, I am happy to received promotional communications from Mondaq
No, please do not send me promotional communications from Mondaq
Terms & Conditions (the Website) is owned and managed by Mondaq Ltd (Mondaq). Mondaq grants you a non-exclusive, revocable licence to access the Website and associated services, such as the Mondaq News Alerts (Services), subject to and in consideration of your compliance with the following terms and conditions of use (Terms). Your use of the Website and/or Services constitutes your agreement to the Terms. Mondaq may terminate your use of the Website and Services if you are in breach of these Terms or if Mondaq decides to terminate the licence granted hereunder for any reason whatsoever.

Use of

To Use you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.

You may use the Website as an unregistered user, however, you are required to register as a user if you wish to read the full text of the Content or to receive the Services.

You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these Terms or with the prior written consent of Mondaq. You may not use electronic or other means to extract details or information from the Content. Nor shall you extract information about users or Contributors in order to offer them any services or products.

In your use of the Website and/or Services you shall: comply with all applicable laws, regulations, directives and legislations which apply to your Use of the Website and/or Services in whatever country you are physically located including without limitation any and all consumer law, export control laws and regulations; provide to us true, correct and accurate information and promptly inform us in the event that any information that you have provided to us changes or becomes inaccurate; notify Mondaq immediately of any circumstances where you have reason to believe that any Intellectual Property Rights or any other rights of any third party may have been infringed; co-operate with reasonable security or other checks or requests for information made by Mondaq from time to time; and at all times be fully liable for the breach of any of these Terms by a third party using your login details to access the Website and/or Services

however, you shall not: do anything likely to impair, interfere with or damage or cause harm or distress to any persons, or the network; do anything that will infringe any Intellectual Property Rights or other rights of Mondaq or any third party; or use the Website, Services and/or Content otherwise than in accordance with these Terms; use any trade marks or service marks of Mondaq or the Contributors, or do anything which may be seen to take unfair advantage of the reputation and goodwill of Mondaq or the Contributors, or the Website, Services and/or Content.

Mondaq reserves the right, in its sole discretion, to take any action that it deems necessary and appropriate in the event it considers that there is a breach or threatened breach of the Terms.

Mondaq’s Rights and Obligations

Unless otherwise expressly set out to the contrary, nothing in these Terms shall serve to transfer from Mondaq to you, any Intellectual Property Rights owned by and/or licensed to Mondaq and all rights, title and interest in and to such Intellectual Property Rights will remain exclusively with Mondaq and/or its licensors.

Mondaq shall use its reasonable endeavours to make the Website and Services available to you at all times, but we cannot guarantee an uninterrupted and fault free service.

Mondaq reserves the right to make changes to the services and/or the Website or part thereof, from time to time, and we may add, remove, modify and/or vary any elements of features and functionalities of the Website or the services.

Mondaq also reserves the right from time to time to monitor your Use of the Website and/or services.


The Content is general information only. It is not intended to constitute legal advice or seek to be the complete and comprehensive statement of the law, nor is it intended to address your specific requirements or provide advice on which reliance should be placed. Mondaq and/or its Contributors and other suppliers make no representations about the suitability of the information contained in the Content for any purpose. All Content provided "as is" without warranty of any kind. Mondaq and/or its Contributors and other suppliers hereby exclude and disclaim all representations, warranties or guarantees with regard to the Content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. In no event shall Mondaq and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use of the Content or performance of Mondaq’s Services.


Mondaq may alter or amend these Terms by amending them on the Website. By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

These Terms shall be governed by and construed in accordance with the laws of England and Wales and you irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute which may arise out of or in connection with these Terms. If you live outside the United Kingdom, English law shall apply only to the extent that English law shall not deprive you of any legal protection accorded in accordance with the law of the place where you are habitually resident ("Local Law"). In the event English law deprives you of any legal protection which is accorded to you under Local Law, then these terms shall be governed by Local Law and any dispute or claim arising out of or in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts where you are habitually resident.

You may print and keep a copy of these Terms, which form the entire agreement between you and Mondaq and supersede any other communications or advertising in respect of the Service and/or the Website.

No delay in exercising or non-exercise by you and/or Mondaq of any of its rights under or in connection with these Terms shall operate as a waiver or release of each of your or Mondaq’s right. Rather, any such waiver or release must be specifically granted in writing signed by the party granting it.

If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect.

Mondaq shall not incur any liability to you on account of any loss or damage resulting from any delay or failure to perform all or any part of these Terms if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control of Mondaq. Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions.

By clicking Register you state you have read and agree to our Terms and Conditions