Common use of Disputes between an Investor and a Contracting Party Clause in Contracts

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should be settled amicably between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted to: (a) the competent courts of the Contracting Party in whose territory the investment is made; or (b) arbitration by the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or' (c) arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to in subparagraph (b) of this paragraph; or (d) an ad hoc arbitration tribunal to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once the investor has submitted die dispute to the competent court of the host Contracting Party or to one of the arbitration procedures stipulated in paragraphs 2(b) to 2(e) of this Article, the choice of the procedure is final. 4. Any arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 7. The award shall be final and binding on the parties to the dispute and shall be executed in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment Disputes between one the Contracting Party and an investor of the other Contracting Party arising from the investment should be settled amicably between the two parties to the disputeconcerned. 2. If the a dispute has can not been settled within three (3) months from the date on which it was raised be resolved in writingthis way, the dispute may, at the choice of in accordance with the investor, be submitted to's choice: (a) The Contracting Party to the competent courts of the Contracting Party in court within whose territory the investment is made; or (or b) arbitration by the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to in accordance with the Convention of 18 March 1965 on the Settlement of Investment Disputes between Citizens and Governments of States and Nationals of other States, opened for signature at Washington on 18 March 1965 Parties (hereinafter referred to as "the "CentreCenter"), opened for signature in Washington on 18 March 1965, if the Centre Center is available; or' (c) arbitration by In accordance with the Additional Facility extraordinary arrangements of the Centre, Center if only one of the Contracting Parties is a signatory to has signed the Convention referred to in subparagraph paragraph (b) of this paragraph; or (d) an ad hoc Arbitration in accordance with the arbitration rules of the International Chamber of Commerce (ICC); or e) Temporary arbitration tribunal to be established under in accordance with the Arbitration Rules of the United Nations Commission Committee on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal, unless otherwise agreed by the parties to the dispute. 3. Once the An investor who has submitted die a dispute to the competent a national court of the host Contracting Party or pursuant to one of the arbitration procedures stipulated in paragraphs 2(b) to 2(eparagraph 2 (a) of this Article, the Article or to any arbitration procedure referred to in paragraph 2 (b) to (e) shall not bring any dispute to any other court or arbitral tribunal. The choice of investor in the procedure court or arbitral tribunal is finalfinal and binding. 4. Any arbitration under this Article shall; at the request of either Neither party to the dispute, be held in a state that who is a party to the Convention dispute can object to any arbitration or arbitration stage on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-on account of the fact ground that the investor, which is as the other party to the dispute, has received received, on the basis of the insurance, an indemnification covering a allowance which covers all or part or the whole of its losses by virtue of an insuranceloss. 75. The arbitration award shall be final and binding on the parties to the dispute and shall be executed enforced in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the awardlaw.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should be settled amicably between the two parties to the disputeconcerned. 2. If the dispute has not been settled within three six (36) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted tosubmitted: (a) to the competent courts of the Contracting Party party in whose territory the investment is made; or (b) to arbitration by the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or' (c) to arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to in subparagraph (b) of this paragraph; or (d) an to any ad hoc arbitration tribunal which unless otherwise agreed on by the parties to the dispute, is to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once the investor has submitted die the dispute to the competent court of the host Contracting Party in whose territory investment has been made or to any of the arbitration tribunals indicated above, the selection of one of the arbitration procedures stipulated in paragraphs 2(b) to 2(e) of this Article, the choice of the procedure is shall be final. 4. Any arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 75. The award shall be final and binding on the parties to the dispute and shall be executed enforced in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. (1. Any dispute arising directly from an investment ) Disputes between one Contracting Party and an investor of the other Contracting Contract- ing Party should be settled amicably between concerning an obligation of the two parties former under this Agreement in relation to an investment of the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, latter shall at the choice request of the investor, investor concerned be submitted to: (a) the competent courts of the Contracting Party in whose territory the investment is made; or (b) arbitration by to the International Centre for Settlement of Investment Disputes (ICSIDI.C.S.I.D.), established pursuant to for settlement by arbitration or conciliation under the Convention on the Settlement of Investment Disputes Dis- putes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre")18, if the Centre is available; or'1965. (c2) arbitration by If for any reason I.C.S.I.D. is not available, the Additional Facility of investor may submit the Centre, if only one of the Contracting Parties is a signatory dispute to the Convention referred to in subparagraph (b) of this paragraph; or (d) an ad hoc arbitration tribunal to be established under the Rules of Arbitration Rules of the United Nations Commission on for International Trade Law (UNCITRAL); or. The Parties to the dispute may agree to mod- ify these rules. (e3) any other previously accepted ad hoc arbitration tribunalThe arbitral award shall be limited to determining whether there is a breach by the Contracting Party concerned of its obligations under this Agreement, whether such breach of obligations has caused damages to the investor concerned, and, if such is the case, the amount of compensation. 3. Once the investor has submitted die dispute to the competent court of the host Contracting Party or to one of the arbitration procedures stipulated in paragraphs 2(b(4) to 2(e) of this Article, the choice of the procedure is final. 4. Any arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a disputes as referred to in Paragraph (1) of this Article to international arbitration in ac- cordance with the provisions of this Article. The consent given by each Contracting Party in this Article and the submission of the dispute between it and by an investor under the said Article shall satisfy the requirements of: (a) Chapter II of the Washington Convention (Jurisdiction of the Centre) for written consent of the parties to a dispute. (b) Article 1 of the UNCITRAL Arbitration Rules for an agreement in writing on referral to arbitration by the parties to a contract; and (c) Article II of the United Nations Convention on the Recognition and En- forcement of Foreign Arbitral Awards, done at New York, June 10, 1958, for "an agreement in writing". (5) In order to avoid doubt in the application of this Article, it is confirmed that any legal person having its seat in one of the Contracting Parties or in a third State and which, before the occurrence of the measure that gave rise to the dispute and at the date of its submission to arbitration, is owned or effectively controlled by investors of the other Contracting Party to arbitration in accordance with this ArticleParty, shall be treated as a legal person of the latter Contracting Party. (6. Neither ) The venue of any arbitration under this Article shall be such as to ensure recog- nition and enforceability of the Contracting Parties, award in all States which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-on account of the fact that the investor, which is the other party are parties to the disputeUnited Na- tions Convention on the Recognition and Enforcement of Foreign Arbitral Awards, has received an indemnification covering a part or the whole of its losses by virtue of an insurancedone at New York, 10 June 1958. (7. ) The award arbitral awards shall be final and binding on upon the parties to the dispute dispute. Each Contracting Party shall carry out, without delay, any such award and shall be executed make provision for the effective enforcement in accordance with national law its territory of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the awardsuch awards.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from between an investment between investor of one Contracting Party and an investor of the other Contracting Party should concerning an investment in the territory of the latter Contracting Party shall, if possible, be settled amicably between the two parties to the disputeamicably. 2. If the dispute has cannot been be settled amicably within three (3) months from the date on which it was raised in writingof request for amicable settlement, the investor concerned may submit the dispute may, at to international arbitration. The investor has the choice of submitting the investor, be submitted case either to: (a) the The competent courts of the Contracting Party in whose territory the investment is made; or; (b) arbitration by the The International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; , or' (c) arbitration by the The Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to set out in subparagraph (b) of this paragraph; Article, or (d) an An ad hoc arbitration tribunal tribunal, which unless otherwise agreed upon by the parties to the dispute, is to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once An investor who has already submitted the investor has submitted die dispute to the competent court courts of the host Contracting Party or shall no more have recourse to one of the arbitration procedures stipulated arbitral tribunals mentioned in paragraphs 2(b) to 2(e) paragraph 2 of this Article, the choice of the procedure is final. 4. Any arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 64. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other opposing party to of the dispute, has had received an indemnification covering a part or the whole of its losses by virtue of an insurance. 75. The Such award shall be final and binding on for the parties to the dispute and shall be executed in accordance with according to national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the awardlaw.

Disputes between an Investor and a Contracting Party. 1. Any legal dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should be settled amicably between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted to: (a) the competent courts of the Contracting Party in whose territory the investment is made; or (b) arbitration by the International Centre for Settlement of Investment Disputes (ICSIDthe "Centre"), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on Washington, 18 March 1965 (hereinafter referred to as the "CentreWashington Convention"), if both Contracting Parties are parties to the Centre is availableWashington Convention; or' (c) arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Washington Convention referred to in subparagraph (b) of this paragraph; or (d) an ad hoc arbitration tribunal to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once the investor has submitted die the dispute to the competent court of the host Contracting Party or to one of the arbitration procedures stipulated in paragraphs 2(b) to 2(e) of this Article, the choice of the procedure is final. 4. Any arbitration under this Article shall; , at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 7. The award shall be final and binding on the parties to the dispute and shall be executed in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should be settled amicably between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted tosubmitted: (a) the to a competent courts court of the Contracting Party in whose territory the investment is made; or (b) to arbitration by the International Centre Center for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, States opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or' (c) arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to in subparagraph (b) of this paragraph; or (d) an any ad hoc arbitration tribunal which, unless otherwise agreed on by the parties to the dispute, is to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once the An investor who has submitted die the dispute to the competent a national court of the host Contracting Party or may nevertheless have recourse to one of the arbitration procedures stipulated arbitral tribunals mentioned in paragraphs 2(b2 (b) to 2(e(c) of this ArticleArticle if, before a judgement has been delivered on the subject matter by a national court, the choice of investor declares not to pursue the procedure is finalcase any longer through national proceedings and withdraws the case. 4. Any arbitration under this Article shall; , at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which who is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 7. The award shall be final and binding on the parties to the dispute dispute. Each Contracting Party shall ensure the recognition and shall be executed enforcement of the arbitral award in accordance with national law the relevant laws and regulations of the Contracting Party in whose territory the award is relied upon, upon and by the competent authorities of the Contracting Party by the date date, duly indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should be settled amicably between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted tosubmitted: (a) to the competent courts of the Contracting Party in whose territory the investment is made; or (b) to arbitration by the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or' (c) arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to in subparagraph (b) of this paragraph; or (d) an any ad hoc arbitration tribunal which unless otherwise agreed on by the parties to the dispute, is to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once the An investor who has submitted die the dispute to the competent a national court of the host Contracting Party or may nevertheless have recourse to one of the arbitration procedures stipulated arbitral tribunals mentioned in paragraphs 2(b) to 2(eor 2(c) of this ArticleArticle if, before a judgment has been delivered on the subject matter by a national court, the choice of investor declares not to pursue the procedure is finalcase any longer through national proceedings and withdraws the case. 4. Any arbitration under this Article shall; , at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 7. The award shall be final and binding on the parties to the dispute and shall be executed in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any legal dispute arising directly from between an investment between investor of one Contracting Party and the other Contracting Party in connection with an investor investment in the territory of the other Contracting Party should shall, as far as possible, be settled amicably through negotiations between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted tosubmitted: (a) to the competent courts of the Contracting Party in whose territory the investment is made; or (b) to any ad hoc arbitration tribunal which unless otherwise agreed on by the parties to the dispute, is to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (c) to arbitration under the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the the' Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if provided that both the Centre is availabledisputing Contracting Party and the Contracting Party of the investor are parties to the ICSD Convention; or' (cd) to arbitration by under the Additional Facility of the Centre, if only one provided that either the disputing Contracting Party or the Contracting Party of the Contracting Parties investor is a signatory to party the Convention referred to in subparagraph (b) of this paragraph; or (d) an ad hoc arbitration tribunal to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunalICSID Convention. 3. Once the An investor who has submitted die the dispute to the competent a national court of the host Contracting Party or may nevertheless have recourse to one of the arbitration procedures stipulated arbitral tribunals mentioned in paragraphs 2(b2 (b) to 2(e(d) of this ArticleArticle if, before a judgment has been delivered on the subject matter by a national court, the choice of investor declares not to pursue the procedure is finalcase any longer through national proceedings and withdraws the case. 4. Any arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, objection at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 75. The arbitral tribunal established under this Article shall reach its decision on the basis of national laws and regulations of the Contracting Party, which is a party to the dispute, provisions of this Agreement, as well as applicable rules of international law. 6. The arbitration award shall be final and binding on the upon both parties to the dispute and dispute. Both Contracting Parties shall be executed in accordance with national law commit themselves to the enforcement of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should shall be settled amicably between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted to: (a) the The competent courts of the Contracting Party in whose territory the investment is made; or (b) arbitration Arbitration by the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or'; (c) arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to in subparagraph (b) of this paragraph; or (d) or an ad hoc arbitration tribunal to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (ed) any other previously accepted ad hoc arbitration tribunal. 3. Once the An investor who has submitted die the dispute to the competent a national court of the host Contracting Party or may nevertheless have recourse to one of the arbitration procedures stipulated arbitral proceedings mentioned in paragraphs 2(b) to 2(e2(d) of this ArticleArticle if, before a judgement has been delivered on the subject matter by a national court, the choice of investor declares not to pursue the procedure is finalcase any longer through national proceedings and withdraws the case. 4. Any arbitration under this Article shall; , at the request of either party to the dispute, be held in a state State that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June June, 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 7. The award shall be final and binding on the parties to the dispute and shall be executed in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. (1. Any dispute arising directly from an investment ) Disputes between one Contracting Party and an investor of the other Contracting Contract- ing Party should be settled amicably between concerning an obligation of the two parties former under this Agreement in relation to an investment of the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, latter shall at the choice request of the investor, investor concerned be submitted to: (a) the competent courts of the Contracting Party in whose territory the investment is made; or (b) arbitration by to the International Centre for Settlement of Investment Disputes (ICSIDI.C.S.I.D.), established pursuant to for settlement by arbitration or conciliation under the Convention on the Settlement of Investment Disputes Dis- putes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre")18, if the Centre is available; or'1965. (c2) arbitration by If for any reason I.C.S.I.D. is not available, the Additional Facility of investor may submit the Centre, if only one of the Contracting Parties is a signatory dispute to the Convention referred to in subparagraph (b) of this paragraph; or (d) an ad hoc arbitration tribunal to be established under the Rules of Arbitration Rules of the United Nations Commission on for International Trade Law (UNCITRAL); or. The Parties to the dispute may agree to mod- ify these rules. (e3) any other previously accepted ad hoc arbitration tribunalThe arbitral award shall be limited to determining whether there is a breach by the Contracting Party concerned of its obligations under this Agreement, whether such breach of obligations has caused damages to the investor concerned, and, if such is the case, the amount of compensation. 3. Once the investor has submitted die dispute to the competent court of the host Contracting Party or to one of the arbitration procedures stipulated in paragraphs 2(b(4) to 2(e) of this Article, the choice of the procedure is final. 4. Any arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a disputes as referred to in Paragraph (1) of this Article to international arbitration in ac- cordance with the provisions of this Article. The consent given by each Contracting Party in this Article and the submission of the dispute between it and by an investor under the said Article shall satisfy the requirements of: (a) Chapter II of the Washington Convention (Jurisdiction of the Centre) for written consent of the parties to a dispute. (b) Article 1 of the UNCITRAL Arbitration Rules for an agreement in writing on referral to arbitration by the parties to a contract; and (c) Article II of the United Nations Convention on the Recognition and En- forcement of Foreign Arbitral Awards, done at New York, June 10, 1958, for "an agreement in writing". (5) In order to avoid doubt in the application of this Article, it is confirmed that any legal person having its seat in one of the Contracting Parties or in a third State and which, before the occurrence of the measure that gave rise to the dispute and at the date of its submission to arbitration, is owned or effectively controlled by investors of the other Contracting Party to arbitration in accordance with this Article. 6. Neither Party, shall be treated as a legal person of the latter Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insuranceParty. 7. The award shall be final and binding on the parties to the dispute and shall be executed in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should be settled amicably between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted to: (a) the The competent courts of the Contracting Party in whose territory the investment is made; or (b) arbitration Arbitration by the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or' (c) arbitration Arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to in subparagraph (b) of this paragraph; or (d) an An ad hoc arbitration tribunal to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any Any other previously accepted ad hoc arbitration tribunal. 3. Once the investor has submitted die the dispute to one of the competent court courts of the host Contracting Party as stipulated in paragraph 2(a) of this Article or to one of the arbitration procedures stipulated in paragraphs paragraph 2(b) to 2(e) of this Article, the choice of the procedure is finalfinal and cannot be referred to further arbitration. 4. Any arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 65. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 76. The award shall be final and binding on the parties to the dispute and shall be executed in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should be settled amicably between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted tosubmitted: (a) To the competent courts of the Contracting Party in whose territory the investment is made; or (b) arbitration by To international arbitration: (i) By the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or' (cii) To arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to in subparagraph (b) (i) of this paragraph; or (diii) an To any ad hoc arbitration tribunal which unless otherwise agreed on by the parties to the dispute, is to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once the An investor who has submitted die the dispute to the competent a national court of the host Contracting Party or shall not anymore have recourse to one of the international arbitration procedures stipulated mentioned in paragraphs 2(b) to 2(eparagraph 2 (b) of this Article, . The investor's choice between the choice competent courts of the procedure Contracting Party in whose territory the investment is made and to international arbitration is irreversible and final. 4. Any arbitration under this Article shall; , at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 7. The award shall be final and binding on the parties to the dispute and shall be executed in accordance with national law of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from an investment between one Contracting Party and an investor of the other Contracting Party should be settled amicably between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted tosubmitted: (a) the To a competent courts court of the Contracting Party in whose territory the investment is made; or (b) To arbitration by the International Centre Center for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, States opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or' (c) arbitration by the Additional Facility of the Centre, if only one of the Contracting Parties is a signatory to the Convention referred to in subparagraph (b) of this paragraph; or (d) an To any ad hoc arbitration tribunal which, unless otherwise agreed on by the parties to the dispute, is to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once the An investor who has submitted die the dispute to the competent a national court of the host Contracting Party or may nevertheless have recourse to one of the arbitration procedures stipulated arbitral tribunals mentioned in paragraphs 2(b2 (b) to 2(e(c) of this ArticleArticle if, before a judgement has been delivered on the subject matter by a national court, the choice of investor declares not to pursue the procedure is finalcase any longer through national proceedings and withdraws the case. 4. Any arbitration under this Article shall; , at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which who is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 7. The award shall be final and binding on the parties to the dispute dispute. Each Contracting Party shall ensure the recognition and shall be executed enforcement of the arbitral award in accordance with national law the relevant laws and regulations of the Contracting Party in whose territory the award is relied upon, upon and by the competent authorities of the Contracting Party by the date date, duly indicated in the award.

Disputes between an Investor and a Contracting Party. 1. Any dispute arising directly from between an investment between investor of one Contracting Party and the other contracting party in connection with an investor investment in the territory of the other latter, shall be notified in writing by the investor Contracting Party should to the recipient of the investment. such notification shall include relevant information. to the extent possible, the dispute shall be settled amicably between the two parties to the in dispute. 2. If the dispute has cannot been be settled in this way within a period of three (3) months from the date on which it of the written notification mentioned in paragraph 1 above, sent by the investor through certified mail or equivalent to the Contracting Party in whose territory the investment was raised in writing, the dispute maymade, at the choice of the investor, the dispute may be submitted referred to: (a) the The competent courts of the Contracting Party in whose territory the investment is was made; or; (b) To arbitration by the International Centre for Settlement of Investment Disputes (ICSID), Disputes) established pursuant to by the Convention on the Settlement of Investment Disputes between States and Nationals of other Other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if the Centre is available; or'1965; (c) arbitration by the Additional Facility of the Centre, if only If one of the contracting parties is not a Contracting Parties is a signatory to State ICSID under the Convention referred to in subparagraph (b) of this paragraph; orICSID Additional Facility; (d) Or to an ad hoc arbitration arbitral tribunal which unless otherwise agreed upon by the parties to the dispute, shall be established under the Arbitration Rules of the United Nations Commission on for International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc . Both contracting parties declare their irrevocable consent to submit the investment dispute to the court or arbitration tribunalto alternative procedures referred to above. 3. Once the investor has submitted die the dispute to the either a competent court of disputing the host Contracting Party contracting party or to one of the an arbitration procedures stipulated in paragraphs 2(b) to 2(e) of this Articleprocess, the choice of the procedure is one or another shall be final. 4. Any The arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article award shall be considered to arise out based on: (a) The provisions of a commercial relationship or transaction for the purposes of Article 1 this Agreement; (b) The national law of the New York ConventionContracting Party where the investment is made; (c) The generally recognized principles of international law. 5. Each Neither Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting PartiesParty, which is a party to a dispute, can raise the dispute may submit an objection, at any phase stage of the arbitration procedure proceedings or the enforcement of the execution of an arbitral awards-on account of award, the fact that the investor, which investor who is the other opposing party to in the dispute, dispute has received compensation under an indemnification insurance contract covering a part or the whole or part of its losses by virtue of an insurancethe incurred damage or loss. 76. The arbitral award shall be final and binding on the parties to the dispute and shall be executed according to national law. 7. The Contracting Parties shall not treat through diplomatic channels matters related to a dispute has been referred to the local courts or tribunals of arbitration in accordance with national law the provisions of the Contracting Party in whose territory the award is relied uponthis article, by the competent authorities of the Contracting Party by the date indicated except in the case where the opposing side has failed to comply with the court decision or arbitral award.

Disputes between an Investor and a Contracting Party. 1. Any legal dispute arising directly from between an investment between investor of one Contracting Party and the other Contracting Party in connection with an investor investment in the territory of the other Contracting Party should shall, as far as possible, be settled amicably through negotiations between the two parties to the dispute. 2. If the dispute has not been settled within three (3) months from the date on which it was raised in writing, the dispute may, at the choice of the investor, be submitted tosubmitted: (a) to the competent courts of the Contracting Party in whose territory the investment is made; or (b) to arbitration by under the International Centre for Settlement of Investment Disputes (ICSID), established pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the "Centre"), if provided that both the Centre is availabledisputing Contracting Party and the Contracting Party of the investor are parties to the ICSD Convention; or' (c) to arbitration by under the Additional Facility of the Centre, if only one provided that either the disputing Contracting Party or the Contracting Party of the Contracting Parties investor is a signatory to party the Convention referred to in subparagraph (b) of this paragraphICSID Convention; or (d) an to any ad hoc arbitration tribunal which unless otherwise agreed on by the parties to the dispute, is to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or (e) any other previously accepted ad hoc arbitration tribunal. 3. Once the An investor who has submitted die the dispute to the competent a national court of the host Contracting Party or may nevertheless have recourse to one of the arbitration procedures stipulated arbitral tribunals mentioned in paragraphs 2(b2 (b) to 2(e(d) of this ArticleArticle if, before a judgment has been delivered on the subject matter by a national court, the choice of investor declares not to pursue the procedure is finalcase any longer through national proceedings and withdraws the case. 4. Any arbitration under this Article shall; at the request of either party to the dispute, be held in a state that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), opened for signature at New York on 10 June 1958. Claims submitted to arbitration under this Article shall be considered to arise out of a commercial relationship or transaction for the purposes of Article 1 of the New York Convention. 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article. 6. Neither of the Contracting Parties, which is a party to a dispute, can raise an objection, at any phase of the arbitration procedure or of the execution of an arbitral awards-award, on account of the fact that the investor, which is the other party to the dispute, has received an indemnification covering a part or the whole of its losses by virtue of an insurance. 75. The arbitral tribunal established under this Article shall reach its decision on the basis of national laws and regulations of the Contracting Party, which is a party to the dispute, provisions of this Agreement, as well as applicable rules of international law. 6. The arbitration award shall be final and binding on the upon both parties to the dispute and dispute. Both Contracting Parties shall be executed in accordance with national law commit themselves to the enforcement of the Contracting Party in whose territory the award is relied upon, by the competent authorities of the Contracting Party by the date indicated in the award.