Common use of Compensation for Damages or Losses Clause in Contracts

Compensation for Damages or Losses. (1) Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to any 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. Resulting payments shall be adequate, be made without delay and be freely transferable. (2) Without prejudice to paragraph (1) of this Article, investors of one Contracting Party who, in any of the situations referred to in that paragraph, suffer losses in the territory of the other Contracting Party resulting from: (a) Requisitioning of their property by its forces or authorities; 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 restitution or adequate compensation not less favorable than would be accorded under the same circumstances to investors of the other Contracting Party or of any third State. Resulting payments shall be freely transferable without delay

Compensation for Damages or Losses. (1) Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to any 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. Resulting payments shall be adequate, be made without delay and be freely transferable. (2) Without prejudice to paragraph (1) of this Article, investors of one Contracting Party who, in any of the situations referred to in that paragraph, suffer losses in the territory of the other Contracting Party resulting from: (a) Requisitioning requisitioning of their property by its forces or authorities; or (b) Destruction 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 restitution or adequate compensation not less favorable than would be accorded under the same circumstances to investors of the other Contracting Party or of any third State. Resulting payments shall be freely transferable without delay