De Jure Arbitration Clause Samples

De Jure Arbitration. Non-Technical Disputes shall be settled via a de jure arbitration, in accordance with Section 57, Subsections 1 and 2 of Legislative Order No. 1071. In this proceeding, the arbitrators shall analyze and settle the matter in accordance with the applicable Peruvian laws, including Legislative Order No. 1362 and its Regulations, as amended or substituted. The de jure arbitration may be local or international, in accordance with the following: i) When Non-Technical Disputes involve an amount in excess of thirty million Dollars (US$ 30,000,000) or its equivalent in local currency, the Parties shall try to resolve the disputes through direct negotiations, within a term of six (6) months established in Clause 14.5, which may be extended by mutual agreement of the Parties in the established terms. In the event that the Parties are unable to reach an agreement during the period of direct negotiations referred to in the preceding paragraph, the disputes shall be settled by an international de jure arbitration, in a proceeding carried out in accordance with the Conciliation and Arbitration Rules of the International Center for the Settlement of Investment Disputes (ICSID), established in the Convention on the Settlement of Investment Disputes between States and Nationals of Other State, ratified by Peru via Legislative Resolution (Resolución Legislativa) No. 26210, to the provisions of which the Parties unconditionally submit themselves. For the purpose of conducing international de jure arbitration proceedings, in accordance with the arbitration rules of the ICSID, the Grantor—acting on behalf of the government of the Republic of Peru—represents to consider the Concessionaire a “National of Another Contracting State,” given that it is subject to foreign control, as per Article 25, Point 2, Item b) of the Convention on the Settlement of Investment Disputes between States and Nationals of Other State, and the Concessionaire accepts its classification as such. The arbitration shall take place in the city of Washington, D.C., United States of America, and shall be conducted in Spanish. The arbitration award shall be issued in accordance with arbitration regulations of the corresponding institutions in charge of overseeing the arbitration. If, for any reason, the ICSID declines to register the arbitration undertaken by virtue of this Clause, the Parties hereby agree to submit the dispute, in the same terms, to the Arbitration Rules of the United Nations Commission on Int...