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

Disputes between an Investor and a Party. 1. If an investor of a Party considers that a measure applied by another Party is inconsistent with an obligation of this Agreement, thus causing loss or damage to the investor or its investment, the investor may request consultations with a view to resolving the matter amicably. 2. Any such matter which has not been settled within a period of six months from the date of written request for consultations may be referred to the courts or 2 It is understood that Article 13 does not apply to the issuance of compulsory licenses granted in relation to intellectual property rights in accordance with the Agreement on Trade-Related Aspects of Intellectual Property Rights, or to the revocation, limitation, or creation of intellectual property rights, to the extent that such issuance, revocation, limitation, or creation is consistent with Chapter 7 of the Free Trade Agreement. administrative tribunals of the Party concerned or to international arbitration. In the latter event the investor has the choice between any of the following: (a) the International Centre for Settlement of Investment Disputes (ICSID) provided for by the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on March 18, 1965, if this Convention is available; (b) conciliation or arbitration under the Additional Facility Rules of ICSID; or (c) an ad hoc 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 International Trade Law (UNCITRAL). 3. Each Party hereby gives its prior consent to the submission to international arbitration in accordance with paragraph 2 of a dispute relating to an investment made by an investor of another Party, provided that the disputing investor has given written notice of his intent to the disputing Party at least 60 days before the claim to arbitration is submitted3. 4. Once the investor has referred the dispute to either a national tribunal or any of the international arbitration mechanisms provided for in paragraph 2, the choice of the procedure shall be final. Furthermore, if the investor has submitted to a national tribunal a claim in relation to any written obligation a Party has entered into with regard to a specific investment made by the investor, as referred to in paragraph 3 of Article 3, the investor may no longer refer the same matter to international arbitration. 5. No Party shall prevent the disputing investor from seeking interim measures of protection, not involving the payment of damages or resolution of the substance of the matter in dispute before the courts or administrative tribunals of the disputing Party, prior to the institution of proceedings before any of the dispute settlement fora referred to in paragraph 2, for the preservation of its rights and interests. 6. An investor may not submit a dispute for resolution according to paragraph 1 if more than five years have elapsed from the date the investor first acquired or should have acquired knowledge of the events giving rise to the dispute. 7. The disputing Party shall at no time whatsoever during the process assert as a defence its immunity or the fact that the investor has received, by virtue of an insurance contract, a compensation covering the whole or part of the incurred damage.

Disputes between an Investor and a Party. ‌ 1. If an investor of a Party considers that a measure applied by another Party is inconsistent with an obligation of this Agreement, thus causing loss or damage to the investor or its investment, the investor may request consultations with a view to resolving the matter amicably. 2. Any such matter which has not been settled within a period of six months from the date of written request for consultations may be referred to the courts or 2 It is understood that Article 13 does not apply to the issuance of compulsory licenses granted in relation to intellectual property rights in accordance with the Agreement on Trade-Related Aspects of Intellectual Property Rights, or to the revocation, limitation, or creation of intellectual property rights, to the extent that such issuance, revocation, limitation, or creation is consistent with Chapter 7 of the Free Trade Agreement. administrative tribunals of the Party concerned or to international arbitration. In the latter event the investor has the choice between any of the following: (a) the International Centre for Settlement of Investment Disputes (ICSID) provided for by the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on March 18, 1965, if this Convention is available; (b) conciliation or arbitration under the Additional Facility Rules of ICSID; or (c) an ad hoc 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 International Trade Law (UNCITRAL). 3. Each Party hereby gives its prior consent to the submission to international arbitration in accordance with paragraph 2 of a dispute relating to an investment made by an investor of another Party, provided that the disputing investor has given written notice of his intent to the disputing Party at least 60 days before the claim to arbitration is submitted3. 4. Once the investor has referred the dispute to either a national tribunal or any of the international arbitration mechanisms provided for in paragraph 2, the choice of the procedure shall be final. Furthermore, if the investor has submitted to a national tribunal a claim in relation to any written obligation a Party has entered into with regard to a specific investment made by the investor, as referred to in paragraph 3 of Article 3, the investor may no longer refer the same matter to international arbitration. 5. No Party shall prevent the disputing investor from seeking interim measures of protection, not involving the payment of damages or resolution of the substance of the matter in dispute before the courts or administrative tribunals of the disputing Party, prior to the institution of proceedings before any of the dispute settlement fora referred to in paragraph 2, for the preservation of its rights and interests. 6. An investor may not submit a dispute for resolution according to paragraph 1 if more than five years have elapsed from the date the investor first acquired or should have acquired knowledge of the events giving rise to the dispute. 7. The disputing Party shall at no time whatsoever during the process assert as a defence its immunity or the fact that the investor has received, by virtue of an insurance contract, a compensation covering the whole or part of the incurred damage.

Disputes between an Investor and a Party. 1. If an investor of a Party considers that a measure applied by another Party is inconsistent with an obligation of this Agreement, thus causing loss or damage to the investor or its investment, the investor may request consultations with a view to resolving the matter amicably. 2. Any such matter which has not been settled within a period of six months from the date of written request for consultations may be referred to the courts or 2 3 It is understood that Article 13 does not apply to the issuance of compulsory licenses granted in relation to intellectual property rights in accordance with the Agreement on Trade-Related Aspects of Intellectual Property Rights, or to the revocation, limitation, or creation of intellectual property rights, to the extent that such issuance, revocation, limitation, or creation is consistent with Chapter 7 of the Free Trade Agreement. administrative tribunals of the Party concerned or to international arbitration. In the latter event the investor has the choice between any of the following: (a) the International Centre for Settlement of Investment Disputes (ICSID) provided for by the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington on March 18, 1965, if this Convention is available; (b) conciliation or arbitration under the Additional Facility Rules of ICSID; or (c) an ad hoc 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 International Trade Law (UNCITRAL). 3. Each Party hereby gives its prior consent to the submission to international arbitration in accordance with paragraph 2 of a dispute relating to an investment made by an investor of another Party, provided that the disputing investor has given written notice of his intent to the disputing Party at least 60 days before the claim to arbitration is submitted3submitted4. 4. Once the investor has referred the dispute to either a national tribunal or any of the international arbitration mechanisms provided for in paragraph 2, the choice of the procedure shall be final. Furthermore, if the investor has submitted to a national tribunal a claim in relation to any written obligation a Party has entered into with regard to a specific investment made by the investor, as referred to in paragraph 3 of Article 3, the investor may no longer refer the same matter to international arbitration. 5. No Party shall prevent the disputing investor from seeking interim measures of protection, not involving the payment of damages or resolution of the substance of the matter in dispute before the courts or administrative tribunals of the disputing Party, prior to the institution of proceedings before any of the dispute settlement fora referred to in paragraph 2, for the preservation of its rights and interests. 6. An investor may not submit a dispute for resolution according to paragraph 1 if more than five years have elapsed from the date the investor first acquired or should have acquired knowledge of the events giving rise to the dispute. 7. The disputing Party shall at no time whatsoever during the process assert as a defence its immunity or the fact that the investor has received, by virtue of an insurance contract, a compensation covering the whole or part of the incurred damage.