Damages and Losses. 1. Investors of either Party whose investments suffer losses in the territory of the other Party owing to war, insurrection, civil disturbance or other similar events shall be accorded by such other Party treatment not less favorable than that accorded to its own investors or to investors of any third country, whichever is the most favorable treatment, as regards any measures it adopts in relation to such losses. 2. Without prejudice to paragraph (1) of this Article, investors of one Party who, in any of the events referred to in that paragraph, suffer damages or losses in the territory of the other Party resulting from: (a) Requisitioning of their investment or property by its forces or authorities, (b) Destruction of their investment or 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 prompt and adequate compensation for the damages or losses sustained during the period of requisitioning or as result of the destruction of the property. Resulting payments shall be made transferable in a freely convertible currency without delay.
Appears in 4 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement, Investment Protection Agreement
