Disputes between Contracting Parties. (1) Disputes between Contracting Parties concerning the interpretation or application of this Agreement shall, as far as possible, be settled on an amicable basis. (2) If a dispute within the meaning of paragraph 1 cannot be settled within six months, it shall be submitted to an arbitral tribunal at the request of either of the two Contracting Parties. (3) The arbitral tribunal shall be constituted on an ad hoc basis; each Contracting Party shall appoint one arbitrator, and the two arbitrators shall agree on a third person to act as chairman. The arbitrators shall be appointed within three months from the date on which one Contracting Party has informed the other that it wishes to submit the dispute to an arbitral tribunal, and the chairman shall be appointed within a further two months. (4) If the time-limits specified in paragraph 3 are not met, either Contracting Party may, in the absence of any other agreement, request the President of the International Court of Justice to make the necessary appointments. If the President of the International Court of Justice is a national of one of the two Contracting Parties or is unable to act for any other reason, the Vice-President or, if he is unable to act, the most senior member of the International Court of Justice may under the same conditions be asked to make the appointments. (5) The arbitral tribunal shall determine its own procedure. (6) The arbitral tribunal shall base its decision on this Agreement and on generally recognized rules of international law. It shall decide by majority vote; its decision shall be final and binding. (7) Each Contracting Party shall bear the cost of its own arbitrator and of its representation in the arbitration proceedings. The cost of the chairman and the other costs shall be shared equally by the two Contracting Parties. The tribunal, however, may make a different ruling on costs in its decision.
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between Contracting Parties. (1) Disputes Any dispute between the Contracting Parties concerning the interpretation or application of this Agreement shall, as far as if possible, be settled on an amicable basisamicably.
(2) If a the dispute within the meaning of paragraph 1 cannot thus be settled within six months, following the date on which such settlement was requested by either Contracting Party, it shall be submitted to an arbitral tribunal at the request of either of the two Contracting PartiesParty be submitted to an arbitration tribunal.
(3) The arbitral arbitration tribunal shall be constituted on an ad hoc basis; set up from case to case, each Contracting Party appointing one member. These two members shall appoint one arbitratorthen agree upon a national of a third State as their chairman, and to be appointed by the two arbitrators shall agree on a third person to act as chairmanContracting Parties. The arbitrators members shall be appointed within three months two months, and the chairman within four months, from the date on which one either Contracting Party has informed advised the other that it wishes Contracting Party of its wish to submit the dispute to an arbitral arbitration tribunal, and the chairman shall be appointed within a further two months.
(4) If the time-time limits specified referred to in paragraph 3 are (3) of this Article have not metbeen complied with, either Contracting Party may, in the absence of any other agreementrelevant arrangement, request invite the President of the International Court of Justice to make the necessary appointments. .
(5) If the President of the International Court of Justice is prevented from discharging the function provided for in paragraph (4) of this Article or is a national of one of the two either Contracting Parties or is unable to act for any other reasonParty, the Vice-President or, if he shall be invited to make the necessary appointments. If the Vice-President is unable to actprevented from discharging the said function or is a national of either Contracting Party, the most senior member of the International Court who is not incapacitated or a national of Justice may under the same conditions either Contracting Party shall be asked invited to make the necessary appointments.
(5) The arbitral tribunal shall determine its own procedure.
(6) The arbitral arbitration tribunal shall base reach its decision on this Agreement and on generally recognized rules by a majority of international law. It shall decide by majority vote; its votes, the decision shall be being final and bindingbinding on the Contracting Parties.
(7) Each Contracting Party shall bear the cost of its own arbitrator and of the member appointed by that Contracting Party as well as the costs for its representation in the arbitration proceedings. The ; the cost of the chairman and the as well as any other costs shall be shared equally borne in equal parts by the two Contracting Parties. The tribunalarbitration tribunal may, however, may make a different ruling on costs in its decisiondecision direct that a higher proportion of costs shall be borne by one of the Contracting Parties. In all other respects, the procedure of the arbitration tribunal shall be determined by the tribunal itself.
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between Contracting Parties. (1) Disputes between Contracting Parties concerning regarding the interpretation or application of this the Agreement shall, as far as possible, shall be settled on an amicable basisthrough diplomatic channels.
(2) If a dispute within the meaning of paragraph 1 both Contracting Parties cannot be settled reach an agreement within six months, it shall shall, upon request of either Contracting Party, be submitted to an arbitral tribunal at the request of either of the two Contracting Parties.
(3) The arbitral tribunal shall be constituted on an ad hoc basis; each three members. Each Contracting Party shall appoint one arbitrator, and the these two arbitrators shall agree on nominate a chairman who shall be a national of a third person State.
(3) If one of the Contracting Parties has not appointed its arbitrator and has not followed the invitation of the other Contracting Party to act as chairman. The arbitrators make that appointment within two months, the arbitrator shall be appointed within three months from upon the date on which one request of that Contracting Party has informed the other that it wishes to submit the dispute to an arbitral tribunal, and the chairman shall be appointed within a further two months.
(4) If the time-limits specified in paragraph 3 are not met, either Contracting Party may, in the absence of any other agreement, request by the President of the International Court of Justice to make Justice.
(4) If both arbitrators cannot reach an agreement about the necessary appointments. If choice of chairman within two months after their appointment, the chairman shall be appointed upon the request of either Contracting Party by the President of the International Court of Justice.
(5) If, in the cases specified under paragraphs (3) and (4) of this Article, the President of the International Court of Justice is prevented from carrying out the said function or if the President is a national of one of either Contracting Party, the two Contracting Parties appointment shall be made by the Vice-President, and if the latter is prevented or is unable to act for any other reason, if the Vice-President oris a national of either Contracting Party, if he is unable to act, the appointment shall be made by the most senior member Judge of the International Court who is not a national of Justice may under the same conditions be asked to make the appointments.
(5) The arbitral tribunal shall determine its own procedureeither Contracting Party.
(6) The arbitral arbitration tribunal shall base reach its decision on this Agreement and on generally recognized rules by a majority of international law. It shall decide by majority vote; its votes, the decision shall be being final and binding.
(7) binding on the Contracting Parties. Each Contracting Party shall bear the cost of its own arbitrator and of the member appointed by that Contracting Party as well as the costs for its representation in the arbitration proceedings. The ; the cost of the chairman and the as well as any other costs shall be shared equally borne in equal parts by the two Contracting Parties. The tribunalarbitration tribunal may, however, may make a different ruling on costs in its decisiondecision direct that a higher proportion of cost shall be borne by one of the Contracting Parties. In all other respects, the procedure of the arbitration tribunal shall be determined by the tribunal itself.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between Contracting Parties. (1) Disputes . As far as possible, disputes arising between Contracting Parties concerning the contracting parties regarding the interpretation or application of this Agreement shall, as far as possible, agreement shall be settled on an amicable basisby diplomatic means.
(2) . If a this dispute within the meaning of paragraph 1 cannot be settled resolved within six monthsmonths from the date of initiation of the negotiations, it shall can be submitted presented to an arbitral tribunal at the request of either one of the two Contracting Parties.
(3) . The arbitral tribunal shall be constituted on an ad hoc basis; each composed as follows: Each Contracting Party shall appoint one designate an arbitrator, and the two arbitrators together shall agree on choose a third person to act arbitrators from the nationals of another country as chairmanpresident of the tribunal. The two arbitrators shall must be appointed within three months and the appointment of the president within five months, starting from the date on which of informing at one of the two Contracting Parties, that the other Party has informed the other that it wishes its intention to submit present the dispute to an the arbitral tribunal, and the chairman shall be appointed within a further two months.
(4) . If the time-limits deadlines specified in paragraph 3 of this article are not metrespected, either then the two Contracting Party may, in the absence of any other agreement, request Parties may invite the President of the International Court of Justice to make the necessary appointments. If the President of the International Court of Justice is a national holds the nationality of one of the two Contracting Parties Parties, or is unable to act for any other reasonif an obstacle prevents him from performing this task, the Vice-Vice President ormay be called to make the necessary appointments, and if he is unable to actthe Vice President holds the nationality of one of the Contracting Parties, or if an impediment prevents him from carrying out this task, the most senior member of the International Court of Justice may under who is not a nationals of one of the same conditions Contracting Parties, shall be asked invited to make with the aforementioned appointments.
(5) . The arbitral tribunal shall make its decisions on the basis of the provisions of this agreement and the principles and principles of international law. Decisions are taken by majority of votes. And it is final and boring for both contracting parties.
6. The arbitral tribunal shall determine rules pertaining to its own proceduremethods of work.
(6) The arbitral tribunal shall base its decision on this Agreement and on generally recognized rules of international law7. It shall decide by majority vote; its decision shall be final and binding.
(7) Each Contracting Party shall bear the cost expenses of its own arbitrator judgment and of its representation in the arbitration proceedingsprocess of arbitration. The cost As for the expenses of the chairman president and the other costs rest of the expenses, it shall be shared divided equally by between the two Contracting Parties. The tribunal, however, may make a different ruling on costs in its decisioncontracting parties.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between Contracting Parties. (1) Disputes between Contracting Parties Where a dispute arises concerning this Agreement, the -Parties agree to consult and negotiate on any matter related to its interpretation or application of this Agreement shall, as far as possible, be settled on an amicable basisapplication. The Parties shall accord the necessary consideration and opportunity for such consultations and negotiations.
(2) If a In the event that the consultations and negotiations fail to resolve the dispute within the meaning a period of paragraph 1 cannot be settled within six months, it shall be submitted to an arbitral tribunal at the request of either of the two Contracting Parties.
(3) The arbitral tribunal shall be constituted on an ad hoc basis; each Contracting Party shall appoint one arbitrator, and the two arbitrators shall agree on a third person to act as chairman. The arbitrators shall be appointed within three months from the date on which one Contracting Party has informed of request for consultations, either of the other that it wishes to Parties may, unless they have otherwise agreed, submit the dispute to an arbitral tribunaltribunal composed of three members. Each Party shall appoint one arbitrator. The third arbitrator, who will be the Chairman of the arbitral tribunal and the chairman a national of a third State, shall be appointed within by agreement of the other two arbitrators. If any of the arbitrators are unable to perform the duties, a further two monthssubstituting arbitrator shall be appointed as provided for in this Article.
(43) If Should one of the time-limits specified in paragraph 3 are not metParties fail to appoint its arbitrator within two months after the other Party has submitted the dispute to an arbitral tribunal and has appointed its arbitrator, either Contracting the latter Party may, in the absence of any other agreement, may request the President of the International Court of Justice to make the necessary appointments. corresponding appointment If the latter is prevented from making such appointment or is a national of either Party, the Vice President or the most senior member of the Court shall make such an appointment
(4) In the event that the two arbitrators appointed by the Parties are unable to reach an agreement within two months after their appointment concerning the third arbitrator, either Party may request the President of the International Court of Justice to make the corresponding appointment If the latter is prevented from making such an appointment or is a national of one of the two Contracting Parties or is unable to act for any other reasoneither Party, the Vice-Vice President or, if he is unable to act, or the most senior member of the International Court of Justice may under the same conditions be asked to shall make the appointmentssuch an appointment.
(5) The arbitral tribunal shall determine its own procedureprocedures, unless the Parties agree otherwise. The tribunal shall decide the dispute according to this Agreement and to other relevant agreements between the Parties and to the principles of international law and shall take into account, as may be appropriate, relevant domestic laws. The tribunal shall reach its decision by a majority of votes. Such a decision shall be final and binding for both Parties.
(6) The arbitral tribunal shall base its decision on this Agreement and on generally recognized rules of international law. It shall decide by majority vote; its decision shall be final and binding.
(7) Each Contracting Party shall bear the cost of its own arbitrator member of the tribunal and of its representation in the arbitration arbitral proceedings. The cost of the chairman Chairman and the other remaining costs shall be shared equally borne in equal parts by the two Contracting Parties. The tribunal, however, may make a different ruling on costs in its decision.
Appears in 1 contract
Samples: Investment Protection Agreement