Common use of Disputes between an Investor Clause in Contracts

Disputes between an Investor. and a Contracting Party 1. Any dispute concerning an investment between tun investor of one Contracting Party and the other Contracting Party shall, if possible, be settled amicably. 2. If any such dispute cannot be settled within six months following the date on which the dispute has been raised by the investor through written notification to the Contracting Party each Contracting Party hereby consents, to the submission of the dispute, at the investor's choice, for resolution by international arbitration to one of the fora mentioned hereafter. To this end both Parties waive the right to demand that all domestic administrative or judiciary remedies be exhausted. i) the International Centre for Settlement of Investment Disputes (ICSID) for settlement by arbitration under the Washington Convention of I8 March 1965 on the Settlement of Investment Disputes between States and Nationals of Other States provided both Contracting Parties have adhered to the said Convention; or ii) the Additional Facility of the Centre, if the Centre is not available under the Convention; or iii) an ad hoc tribunal set up under Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). The appointing authority under the said rules shall be the Secretary General of ICSID. If the parties to such a dispute have different opinions as to whether conciliation or arbitration is the more appropriate method of settlement, the investor shall have the right to choose. 3. For the purpose of this Article and Article 25(2)(b) of the said Washington Convention, any legal person which is constituted in accordance with the legislation of one Contracting Fatty and which, before a dispute arises, was controlled by an investor of the other Contracting Party, shall be treated as a national of the other Contracting Party. 4. Any arbitration under the Additional Facility Rules or under the UNCITRAL Arbitration Rules shall, at the truest of either party to die dispute, be held in a state that is a party to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York, June 10, 1958 (the New York Convention). 5. The consent given by each Contracting Party in paragraph 2 and the submission of the dispute by an investor under the said paragraph shall constitute the written consent and written agreement of the parties to the dispute to its submission for settlement for the purposes of Chapter II of the Washington Convention (Jurisdiction of the Centre) and for the purpose of the Additional Facility Rules, Article 1 of the UNCITRAL Arbitration Rules and Article II of the New York Convention. 6. In any proceeding involving an investment dispute, a Contracting Party shall not asset, as a defence, counterclaim, right of set-off or for any other reason, that indemnification or other compensation for all or part of the alleged damages has been received pursuant to an insurance or guarantee contract, but the Contracting Party may require evidence that the compensating party agrees to that the investor exercises the right to claim compensation. 7. Any arbitral award rendered pursuant to this Article shall be final and binding on the parties to the dispute. Each Contracting Party shall carry out without delay the provisions of any such award and provide In its territory for the enforcement of such award.

Disputes between an Investor. and a Contracting PartyState 1. Any dispute concerning Disputes arising between a Contracting State and an investment between tun investor of one Contracting Party and the other Contracting Party State in relation to an investment belonging to the latter in the territory of the first-mentioned State shall, if as far as possible, be settled amicably. 2. If any such dispute canit is not be settled possible to settle those disputes within six months following from the date on which of either of the two parties to the dispute has been raised requesting an amicable settlement by the investor through delivering a written notification to the Contracting Party each Contracting Party hereby consentsother party, then the dispute shall be presented for resolution, by choosing the investor as a party to the submission of the dispute, at the investor's choice, for resolution dispute by international arbitration to one of the fora mentioned hereafter. To following means: (a) in accordance with any appropriate dispute settlement procedures agreed upon in advance; (b) international arbitration in accordance with the following paragraphs of this end both Parties waive the right to demand that all domestic administrative or judiciary remedies be exhaustedArticle. 3. In the event that the investor chooses to submit the dispute to international arbitration, the investor must also submit his written consent to submit the dispute for settlement through one of the following bodies: (i) the The International Centre Center for Settlement of Investment Disputes (ICSID) for settlement by arbitration under the Washington Convention of I8 March 1965 “Center”), established pursuant to the Agreement on the Settlement of Investment Disputes between States and Nationals of Other States provided both opened for signature at Washington on March 18, 1965 (the “Washington Convention”), in the event the Contracting Parties have adhered States being parties to the said Convention; orWashington Convention and the applicability of the Washington Convention to the dispute; (ii) the Centre, under the Rules Governing Additional Facility Facilities for the Administration of Proceedings by the Secretary of the CentreCenter (“Additional Facilities Rules”), if the Centre Contracting State of the investor or the Contracting State party to the dispute, but not both, is not available a party to the Washington Convention; (b) an arbitral tribunal establishing under the Convention; or iii) an ad hoc tribunal set up under Arbitration Rules (“the Rules”) of the United Nations Commission on International Trade Law (UNCITRAL). The appointing authority under the said rules shall be the Secretary General of ICSID. If , as these Rules are modified by the parties to such a the dispute have different opinions as (the appointing body referred to whether conciliation or arbitration in Article 7 of the Rules is the more appropriate method Secretary-General of settlement, the Centre); (c) an arbitral tribunal It is established based on the arbitration rules of any arbitral tribunal to be mutually agreed upon between the parties to the dispute. 4. Notwithstanding that the investor shall have has submitted the right dispute to choosebinding arbitration under paragraph 3, 4 it may, before or during the commencement of the arbitral proceedings, petition the judicial or administrative courts of the Contracting State which is a party to the dispute for an interim injunction to maintain his rights and interests, provided that this does not include a request for compensation for any damages. 35. For A Contracting State shall not exercise its immunity in any judicial, arbitral or otherwise proceeding or in the purpose enforcement of this Article any decision or judgment relating to an investment dispute between a Contracting State and Article 25(2)(b) of the said Washington Convention, any legal person which is constituted in accordance with the legislation of one Contracting Fatty and which, before a dispute arises, was controlled by an investor of the other Contracting Party, shall be treated as a national of the other Contracting Party. 4State. Any arbitration under the Additional Facility Rules Nor may any counter-claim or under the UNCITRAL Arbitration Rules shall, at the truest of either party to die dispute, be held in a state that is a party to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York, June 10, 1958 (the New York Convention). 5. The consent given by each Contracting Party in paragraph 2 and the submission of the dispute by an investor under the said paragraph shall constitute the written consent and written agreement of the parties to the dispute to its submission for settlement for the purposes of Chapter II of the Washington Convention (Jurisdiction of the Centre) and for the purpose of the Additional Facility Rules, Article 1 of the UNCITRAL Arbitration Rules and Article II of the New York Convention. 6. In any proceeding involving an investment dispute, a Contracting Party shall not asset, as a defence, counterclaim, right of set-off be established on the fact that the concerned investor has received or will receive, based on an insurance contract, compensation for damage or any other reason, that indemnification or other compensation for all or part of the alleged damages has been received pursuant to an insurance claimed by any third party whatsoever, whether general or guarantee contractprivate, but the including that other Contracting Party may require evidence that the compensating party agrees to that the investor exercises the right to claim compensationState and its subdivisions, agencies or organs. 7. Any arbitral award rendered pursuant to this Article shall be final and binding on the parties to the dispute. Each Contracting Party shall carry out without delay the provisions of any such award and provide In its territory for the enforcement of such award.

Disputes between an Investor. and a Contracting Party 1. Any dispute concerning between an investment between tun investor of one Contracting Party and the other Contracting Party concerning an investment in the territory of the latter Contracting Party shall, if possible, be settled amicably. 2. If any such the dispute cannot be settled amicably within six three months following from the date on which of request for amicable settlement, the investor concerned may submit the dispute to international arbitration. The investor has been raised by the investor through written notification to choice of submitting the case either to: (a) the competent courts of the Contracting Party each Contracting Party hereby consents, to in whose territory the submission of the dispute, at the investor's choice, for resolution by international arbitration to one of the fora mentioned hereafter. To this end both Parties waive the right to demand that all domestic administrative or judiciary remedies be exhausted.investment is made; i(b) the The International Centre for Settlement of Investment Disputes (ICSID) for settlement by arbitration under ), established pursuant to the Washington Convention of I8 March 1965 on the Settlement of Investment Disputes between States and Nationals of Other States provided both Contracting Parties have adhered other States, opened for signature at Washington on 18 March 1965 (hereinafter referred to as the said Convention; “Centre”), if the Centre is available, or ii(c) the The Additional Facility of the Centre, if only one of the Centre Contracting Parties is not available under a signatory to the Convention; Convention set out in subparagraph (b) of this Article , or iii(d) an ad hoc tribunal set up arbitration 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). The appointing authority under Contracting Parties give their irrevocable consent in respect of the said rules shall be fact, that all disputes relating to investments are submitted to the Secretary General of ICSID. If the parties to such a dispute have different opinions as to whether conciliation above mentioned court, tribunal or alternative arbitration is the more appropriate method of settlement, the investor shall have the right to chooseprocedures. 3. For An investor who has already submitted the purpose dispute to the competent courts of the Contracting Party shall no more have recourse to one of the arbitral tribunals mentioned in paragraph 2 of this Article and Article 25(2)(b) of the said Washington Convention, any legal person which is constituted in accordance with the legislation of one Contracting Fatty and which, before a dispute arises, was controlled by an investor of the other Contracting Party, shall be treated as a national of the other Contracting PartyArticle. 4. Any arbitration under Neither of the Additional Facility Rules or under the UNCITRAL Arbitration Rules shallContracting Parties, at the truest of either party to die dispute, be held in a state that which is a party to a dispute, can raise an objection, at any phase of the United Nations Convention arbitration procedure or of the execution of an arbitral award, on account of the Recognition and Enforcement fact that the investor, which is the opposing party of Foreign Arbitral Awardsthe dispute, done at New York, June 10, 1958 (had received an indemnification covering a part or the New York Convention)whole of its losses by virtue of an insurance. 5. The consent given by each Contracting Party in paragraph 2 Such award shall be final and the submission of the dispute by an investor under the said paragraph shall constitute the written consent and written agreement of binding for the parties to the dispute to its submission for settlement for the purposes of Chapter II of the Washington Convention (Jurisdiction of the Centre) and for the purpose of the Additional Facility Rules, Article 1 of the UNCITRAL Arbitration Rules and Article II of the New York Convention. 6. In any proceeding involving an investment dispute, a Contracting Party shall not asset, as a defence, counterclaim, right of set-off or for any other reason, that indemnification or other compensation for all or part of the alleged damages has been received pursuant to an insurance or guarantee contract, but the Contracting Party may require evidence that the compensating party agrees to that the investor exercises the right to claim compensation. 7. Any arbitral award rendered pursuant to this Article shall be final and binding on the parties executed according to the dispute. Each Contracting Party shall carry out without delay the provisions of any such award and provide In its territory for the enforcement of such awardnational law.