Common use of Compensation for Damages and Losses Clause in Contracts

Compensation for Damages and Losses. 1. Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to any kind of armed conflict, a state of national emergency or civil disturbances in the territory of the latter Contracting Party shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or investors of any third State. 2. Without prejudice to paragraph 1 of this Article, investors of one Contracting Party, who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting from: (a) requisition of their property by forces or authorities of that other Contracting Party; or (b) destruction of their property by its forces or authorities which was not caused in combat action or was not required by the necessity of the situation shall be accorded fair and reasonable compensation for the damage or loss sustained during the period of the requisition or as a result of the destruction of the property. 3. The resulting payments of compensation set out in paragraphs 1 and 2 of this Article shall be made without delay and shall be freely transferable at the market exchange rate prevailing on the date of determining the amount of compensation.

Compensation for Damages and Losses. 1. Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to any kind of armed conflict, a state of national emergency or civil disturbances in the territory of the latter Contracting Party shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation or other settlementSettlement, no less favourable than that which the latter Contracting Party accords to its own investors or investors of any third State. 2. Without prejudice to paragraph 1 of this Article, investors of one Contracting Party, who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting from: (a) requisition of their property by forces or authorities of that other Contracting Party; or (b) destruction of their property by its forces or authorities which was not caused in combat action or was not required by the necessity of the situation shall Shall be accorded fair and reasonable compensation for the damage or loss sustained during the period of the requisition or as a result of the destruction of the property. 3. The resulting payments of compensation set out in paragraphs 1 and 2 of this Article shall be made without delay and shall be freely transferable at the market exchange rate prevailing on the date of determining the amount of compensation.

Compensation for Damages and Losses. 1. Investors Whey investments by investors of one either Contracting Party whose investments suffer losses owing to war, armed conflict, a state of national emergency, revolt, insurrection, riot o[r] other similar events in the territory of the other Contracting Party suffer losses owing to any kind of armed conflictParty, a state of national emergency or civil disturbances in the territory of the latter Contracting Party they shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation or other settlementsettlements, no not less favourable than that which the latter Contracting Party accords to its own investors or the investors of any third State. 2. Without prejudice to paragraph 1 of this Article, investors of one o[n]e Contracting Party, Party who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting from: (a) requisition requisitioning of their property by its forces or authorities of that other Contracting Party; orauthorities, (b) destruction of their property by its forces or authorities which was not caused in combat action or was not required by the necessity of the situation shall be accorded fair and reasonable appropriate compensation for the damage or loss sustained during the period of the requisition requisitioning or as a result of the destruction of the property. 3. The resulting Resulting payments of compensation set out in paragraphs 1 and 2 of this Article shall be made without delay in a freely convertible currency and shall be freely transferable at the market exchange rate prevailing on the date of determining the amount of compensationwithout undue delay.