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 concerning an investment which arises within the terms of this Agreement between an investor of one of the Contracting Parties and the other Contracting Party shall, if possible, be settled amicably. (2) If the dispute cannot thus be settled within six months following the date on which the matter of the dispute has been raised by either party, it may be submitted upon request of the investor either to - the national jurisdiction of the Contracting Party in whose territory the investment was made, or - international arbitration according to the provisions of Paragraph (3) of this Article. Once an investor has submitted a dispute to the aforementioned national jurisdiction or to international arbitration, the choice of one or other of these procedures shall be final. (3) In case of international arbitration, the dispute shall be submitted, at the investor's choice, either to: - the International Centre for the Settlement of Investment Disputes (ICSID) created by the "Convention on the Settlement of Investment Disputes between States and Nationals of other States" opened for signature in Washington on 18 March 1965, once both Contracting Parties become members thereof. As far as this provision is not complied with, each Contracting Party consents that the dispute be submitted to arbitration under the regulations of the ICSID Additional Facility for the Administration of Conciliation, Arbitration and Fact-Finding Proceedings; or - an arbitration tribunal set up from case to case in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). (4) The arbitration tribunal shall decide in accordance with the provisions of this Agreement, the law of the Contracting Party involved in the dispute, including its rules on conflict of laws, the terms of any specific agreement concluded in relation to such an investment and the principles of international law. (5) The arbitral decisions shall be final and binding on both parties to the dispute. Each Contracting Party shall execute them in accordance with its laws.

Disputes between an Investor and a Contracting Party. (1) Any dispute concerning an investment which arises within the terms of this Agreement concerning an investment between an investor of one of the Contracting Parties Party and the other Contracting Party shall, if possible, be settled amicably. (2) If the dispute cannot thus be settled within six months following the date on which the matter of the dispute has been raised by either party, it may be submitted submitted, upon request of the investor investor, either to to: - the national jurisdiction competent tribunal of the Contracting Party in whose territory the investment was made, ; or - international arbitration according to the provisions of Paragraph paragraph (3) of this Article. Once Where an investor has submitted a dispute to the aforementioned national jurisdiction competent tribunal of the Contracting Party where the investment has been made or to international arbitration, the this choice of one or other of these procedures shall be final. (3) In case of international arbitration, the dispute shall be submitted, at the investor's choice, either to: - the The International Centre for the Settlement of Investment Disputes (ICSID) created by the "Convention on the Settlement of Investment Disputes between States and Nationals National of other States" States opened for signature in Washington on 18 March 1965, once both Contracting Parties herein become members thereof. As far as this provision is not complied with, each Contracting Party consents that the dispute be submitted to arbitration under the regulations of the ICSID Additional Facility for the Administration of Conciliation, Arbitration and Fact-Finding Proceedings; , or - an arbitration tribunal set up from case to case in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). (4) The arbitration tribunal shall decide in accordance with the provisions of this Agreement, the law laws of the Contracting Party involved in the dispute, including its rules on conflict of lawslaw, the terms of any specific agreement concluded in relation to such an investment and the relevant principles of international law. (5) The arbitral decisions shall be final and binding on both for the parties to in the dispute. Each Contracting Party shall execute them in accordance with its laws.