Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and application of this Agreement shall, as far as possible, be settled through diplomatic channels. 2. If the dispute cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiations, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunal. 3. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members. 4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments. 5. The Arbitral Tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of the member appointed by that Contracting Party and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure. 6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 3 contracts
Samples: Agreement on the Promotion and Protection of Investments, Agreement on the Promotion and Protection of Investments, Investment Protection Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning regarding the interpretation and or application of the provisions of this Agreement shall, as far as possible, shall be settled through diplomatic channels.
(2. ) If both Contracting Parties cannot reach an agreement within six months after the beginning of the dispute between themselves, it shall, upon request of either Contracting Party, be submitted to an arbitral tribunal of three members. Each Contracting Party shall appoint one arbitrator, and these two arbitrators shall nominate a chairman who shall be a national of a third 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 make that appointment within two months, the arbitrator shall be appointed upon the request of that Contracting Party by the President of the Interna-tional Court of Justice.
(4) If both arbitrators cannot thus reach an agreement about the choice of chairman within two months after their appointment, he shall be settled within six (6) months following the date on which either Contracting Party requested such negotiations, it shall at appointed upon the request of either Contracting Party be submitted to an Arbitral Tribunalby the President of the International Court of Justice.
3. Such an Arbitral Tribunal shall be constituted for each individual case (5) If, in the following way. Within two cases specified under paragraphs (23) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four and (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make is prevented from carrying out the necessary appointments. If the President said function or if he is a national of either Contracting Party or is otherwise prevented from discharging the said functionParty, the Member appointment shall be made by the Vice-President, and if the latter is prevented or if he is a national of either Contracting Party, the appointment shall be made by the most senior Judge of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
5. The Arbitral Tribunal shall reach its decision (6) Subject to other provisions made by a majority of votes. The decisions of the Tribunal shall be final and binding on both Contracting Parties, the tribunal shall determine its procedure. Each Furthermore, each Contracting Party shall bear the costs cost of the member arbitrator it has appointed by that Contracting Party and of its representation in the arbitral proceedings. Both The cost of the chairman and the remaining costs shall be borne in equal parts by the Contracting Parties shall assume an equal share unless agreed otherwise.
(7) The decisions of the costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of proceduretribunal are final and binding for each Contracting Party.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 3 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within : within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary neccesary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. The Tribunal may make a different decision regarding and this award shall be binding on, and executed by, both Contracting Parties.
(6) Apart from the sharing of the costs. In all other respectsabove, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 3 contracts
Samples: Investment Promotion and Protection Agreement, Investment Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes Either Contracting Party may request consultations on the interpretation or application of this Agreement. The other Contracting Party shall give sympathetic consideration to the request. Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as whenever possible, be settled amicably through diplomatic channelsconsultations.
2. If the a dispute cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationsthrough consultations, it shall shall, at the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral panel for decision.
3. Such an Arbitral Tribunal An arbitral panel shall be constituted for each individual case in the following waydispute. Within two (2) months of the after receipt through diplomatic channels of the request for arbitration, each Contracting Party shall appoint one member of to the Tribunalarbitral panel. Those The two members shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunalarbitral panel. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersmembers of the arbitral panel.
4. If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or is prevented from discharging the said function, the Member of the International Court of Justice next in seniority seniority, who is not a national of either Contracting Party or is not otherwise prevented from discharging the said functionParty, shall be invited to make the necessary appointments.
5. The Arbitral Tribunal arbitral panel shall determine its own procedure. The arbitral panel shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Unless otherwise agreed, the decision of the arbitral panel shall be rendered within six months of the appointment of the Chairman in accordance with paragraphs (3) or (4) of this Article.
6. Each Contracting Party shall bear the costs of its own member of the member appointed by that Contracting Party panel and of its representation in the arbitral proceedings; the costs related to the Chairman and any remaining costs shall be borne equally by the Contracting Parties. Both The arbitral panel may, however, in its decision direct that a higher proportion of costs shall be borne by one of the two Contracting Parties, and this award shall be binding on both Contracting Parties.
7. The Contracting Parties shall assume an equal share shall, within 60 days of the costs decision of a panel, reach agreement on the manner in which to resolve their dispute. Such agreement shall normally implement the decision of the Chairman, as well as any other costspanel. The Tribunal may make a different decision regarding If the sharing of the costs. In all other respectsContracting Parties fail to reach agreement, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to Contracting Party bringing the dispute referred to in paragraph 1 of this Article shall be decided in accordance with entitled to compensation or to suspend benefits of equivalent value to those awarded by the provisions of this Agreement and the generally recognised principles of international lawpanel.
Appears in 3 contracts
Samples: Investment Promotion and Protection Agreement, Investment Protection Agreement, Investment Promotion and Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within : within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. The Tribunal may make a different decision regarding and this award shall be binding on, and executed by, both Contracting Parties.
(6) Apart from the sharing of the costs. In all other respectsabove, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 3 contracts
Samples: Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. 1. The Contracting Parties agree to consult promptly on the request of either contracting party to resolve any disputes in connection with this Agreement.
2. Disputes between the Contracting Parties concerning the interpretation and application of this Agreement shall, as far as possible, be settled through diplomatic channels.
23. If the dispute cannot thus be settled within six nine (69) months following the date on which either Contracting Party requested such negotiations, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunal.
34. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Arbitral Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
45. If the necessary appointments have not been made within the periods specified in paragraph 3 4 of this Article, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
56. The Arbitral Tribunal shall reach its decision by a majority of votes. The decisions of the Arbitral Tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of the member appointed by that Contracting Party and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the costs of the Chairman, as well as any other costs. The Arbitral Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
67. Issues subject to dispute referred to in paragraph 1 2 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised recognized principles of international law.
Appears in 3 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as if possible, be settled through diplomatic channelsby negotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunalarbitration tribunal.
(3. Such an Arbitral Tribunal ) The arbitration tribunal shall be constituted for each individual set up from case in the following way. Within two (2) months of the receipt of the request for arbitrationto case, each Contracting Party shall appoint appointing one member of the Tribunalmember. Those These two members shall then select agree upon a national of a third State who on approval as their chairman, to be appointed by the Governments of the two Contracting Parties shall be appointed Chairman of the TribunalParties. The Chairman members shall be appointed within two months, and the chairman within four months, from the date either Contracting Party, has advised the other Contracting Party of its wish to submit the dispute to an arbitration tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments time limits referred to in Paragraph (3) of this Article have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other relevant arrangement, 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 either Contracting Party or Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is otherwise prevented from discharging the said functionfunction or is a national of either Contracting Party, the Member most senior member of the International Court of Justice next in seniority who is not incapacitated or a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
5. (6) The Arbitral Tribunal arbitration tribunal shall reach its decision by a majority of votes. The decisions of , the Tribunal shall be decision being final and binding on both the Contracting Parties. Each Contracting Party shall bear the costs of the member appointed by that Contracting Party and of as well as the costs for its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share ; the cost of the costs of the Chairman, chairman as well as any other costscosts shall be borne in equal parts by the two Contracting Parties. The Tribunal may make arbitration tribunal may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costsContracting Parties. In all other respects, the Arbitral Tribunal shall determine its own rules procedure of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article the arbitration tribunal shall be decided in accordance with determined by the provisions of this Agreement and the generally recognised principles of international lawtribunal itself.
Appears in 3 contracts
Samples: Investment Agreement, Investment Promotion and Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning regarding the interpretation and or application of this Agreement shall, as far as to the extent possible, be settled resolved through diplomatic channelsdirect consultations. Should the Contracting Parties agree on the controversial issue, a written agreement may be concluded regarding the interpretation or application of a provision of this Agreement, which shall be binding on any arbitral tribunal constituted under this Agreement.
(2) If the Contracting Parties cannot reach an agreement within six months after the request for consultations, the dispute shall, upon request of either Party, be submitted to arbitration.
(3) Each Contracting Party shall appoint one arbitrator, and these two arbitrators shall appoint a chairman who shall be a national of a third State. If one of the dispute Contracting Parties has not appointed its arbitrator and has not followed the invitation of the other Contracting Party to make that appointment within two months since the request for arbitration, the arbitrator shall be appointed upon the request of that Contracting Party by the Secretary General of ICSID. If both arbitrators cannot thus agree on the choice of the chairman within two months of their appointment, the latter shall be settled within six (6) months following the date on which either Contracting Party requested such negotiations, it shall at the appointed upon request of either Contracting Party be submitted to an Arbitral Tribunalby the Secretary General of ICSID.
3. Such an Arbitral Tribunal shall be constituted for each individual case in (4) If the following way. Within two (2) months Secretary General of ICSID is prevented from carrying out the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select said function or is a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman one of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this ArticleContracting Parties, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make the necessary appointmentsacts as appointing authority. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Member of the International Court of Justice is prevented from carrying out the said function or is a national of one of the Contracting Parties, the appointments shall be made by the Vice-President, and if the latter is prevented or is a national of one of the Contracting Parties, the appointments shall be made by the next in seniority senior member of the Court who is not a national of either a Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
(5) Subject to other provisions made by the Contracting Parties, the tribunal shall determine its own procedure. The Arbitral Tribunal tribunal shall reach its decision by a majority decide the issues in dispute in accordance with this Agreement and other applicable rules of votesinternational law. The decisions award of the Tribunal shall be tribunal is final and binding on both for each Contracting Parties. Party.
(6) Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the chairman and the remaining costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided borne in accordance with equal parts by the provisions of this Agreement and Contracting Parties, unless the generally recognised principles of international lawarbitral tribunal decides otherwise.
Appears in 3 contracts
Samples: Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement
Disputes between the Contracting Parties. 1. 1 — Disputes between the Contracting Parties concerning concer- ning the interpretation and application of this Agreement shallshould, as far as possible, be settled by negotiations through diplomatic channels.
2. 2 — If the dispute cannot thus be settled Contracting Parties fail to reach such set- tlement within six (6) months following after the beginning of ne- gotiations, the dispute shall, upon the request of either Contracting Party, be submitted to an arbitral tribunal, in accordance with the provisions of this article.
3 — The arbitral tribunal shall be constituted ad hoc, as follows: each of the Contracting Parties shall appoint one member and these two members shall propose a national of a third State as chairman to be appointed by the two Con- tracting Parties. The members shall be appointed within two (2) months and the chairman shall be appointed within three (3) months from the date on which either Contracting Party requested such negotiations, notifies the other that it shall at wishes to submit the request of either Contracting Party be submitted dispute to an Arbitral Tribunalarbitral tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4. 4 — If the necessary appointments have not been made within the periods deadlines specified in paragraph 3 of this Articlearticle are not complied with, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is prevented from doing so, or is a national of either Contracting Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is also a national of either Contrac- ting Party or if he is otherwise prevented from discharging making the said functionappoint- ments for any other reason, the Member appointments shall be made by the member of the International Court of Justice who is next in seniority and who is not a national of either Contracting Party or is not otherwise prevented from discharging Party.
5 — The chairman of the said function, arbitral tribunal shall be invited to make the necessary appointmentsa na- tional of a third State with which both Contracting Parties maintain diplomatic relations.
56 — On any stage of making a decision, the tribunal may propose to reach an agreement by friendly way. Previous provisions shall not create obstacles to such settlement of a dispute.
7 — The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votesrule according to majo- rity vote. The decisions of the Tribunal tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall bear be responsible for the costs of the its own member appointed by that Contracting Party and of its representation in representatives at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the costs of expenses incurred by the Chairmanchairman, as well as any other costsexpenses. The Tribunal tribunal may make a different decision regarding the sharing of the re- xxxxxxx costs. In all other respects, the Arbitral Tribunal tribunal court shall determine define its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Agreement, Investment Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as if possible, be settled through diplomatic channelsby negotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunalarbitral tribunal.
(3. Such an Arbitral Tribunal ) The arbitral tribunal shall be constituted for each individual set up from case in the following way. Within two (2) months of the receipt of the request for arbitrationto case, each Contracting Party shall appoint appointing one member of the Tribunalmember. Those These two members shall then select agree upon a national of a third State who on approval as their chairman, to be appointed by the Governments of the two Contracting Parties shall be appointed Chairman of the TribunalParties. The Chairman members shall be appointed within two months, and the chairman within four months, from the date either Contracting Party, has advised the other Contracting Party of its wish to submit the dispute to an arbitral tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments time limits referred to in paragraph (3) of this Article have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other relevant arrangement, 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 either Contracting Party or Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is otherwise prevented from discharging the said functionfunction or is a national of either Contracting Party, the Member most senior member of the International Court of Justice next in seniority who is not incapacitated or a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
5. (6) The Arbitral Tribunal arbitral tribunal shall decide disputes on the basis of the provisions of this Agreement and applicable rules and principles of international law.
(7) The arbitral tribunal shall reach its decision by a majority of votes. The decisions of , the Tribunal shall be decision being final and binding on both the Contracting Parties. Each Contracting Party shall bear the costs cost of the member appointed by that Contracting Party and of as well as the costs for its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share ; the cost of the costs of the Chairman, chairman as well as any other costscosts shall be borne in equal parts by the two Contracting Parties. The Tribunal may make arbitral tribunal may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costsContracting Parties. In all other respects, the Arbitral Tribunal procedure of the arbitration tribunal shall determine its own rules of procedurebe determined by the tribunal itself.
6(8) A Contracting Party, party to the dispute, shall not initiate proceedings under this Article for a dispute regarding the infringement of rights of an investor which that investor has submitted or has agreed to submit to proceedings under Chapter II, Section I, unless the Contracting Party, party to the dispute, has failed to abide by or comply with an award rendered by such a tribunal. Issues subject The requesting Contracting Party may seek in such proceedings:
(a) A determination that the failure to dispute referred to in paragraph 1 abide by or comply with the final award is inconsistent with the obligations of this Article shall be decided in accordance Agreement; and
(b) A recommendation that the Party abide by or comply with the provisions of this Agreement and the generally recognised principles of international law.final award. CHAPTER THREE: FINAL PROVISIONS
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning regarding the interpretation and or application of the provisions of this Agreement shall, as far as possible, shall if possible be settled through diplomatic channelsChannels.
(2. ) If both Contracting Parties cannot reach an agreement within six months after the beginning of the dispute between themselves, the latter shall, upon request of either Contracting Party, be submitted to an arbitral tribunal of three members. Each Contracting Party shall appoint one arbitrator, and these two arbitrators shall nominate a chairman who shall be a national of a third 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 make that appointment within two months, the arbitrator shall be appointed upon the request of that Contracting Party by the President of the International Court of Justice.
(4) If both arbitrators cannot thus reach an agreement about the choice of the chairman within two months after their appointment, the latter shall be settled within six (6) months following the date on which either Contracting Party requested such negotiations, it shall at appointed upon the request of either Contracting Party be submitted to an Arbitral Tribunalby the President of the International Court of Justice.
3. Such an Arbitral Tribunal shall be constituted for each individual case (5) If, in the following way. Within two cases specified under paragraphs (23) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four and (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make is prevented from carrying out the necessary appointments. If the President said function or is a national of either Contracting Party Party, the appointment shall be made by the Vice-President, and if the latter is prevented or is otherwise prevented from discharging the said functiona national of either Contracting Party, the Member appointment shall be made by the most senior Judge of the International Court of Justice next in seniority who is not a national of either Contracting Party Party.paragraphs (3) and (4) of this Article, the President of the International Court of Justice is prevented from carrying out the said function or is not otherwise prevented from discharging a national of either Contracting Party, the said function, appointment shall be invited to make made by the necessary appointmentsVice-President, and if the latter is prevented or is a national of either Contracting Party, the appointment shall be made by the most senior Judge of the Court who is not a national of either Contracting Party.
5. The Arbitral Tribunal shall reach its decision (6) Subject to other provisions made by a majority of votes. The decisions of the Tribunal shall be final and binding on both Contracting Parties, the tribunal shall determine its own procedure. Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties, unless the arbitral tribunal decides otherwise.
(7) The decisions of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of proceduretribunal are final and binding for each Contracting Party.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. Relating to the Interpretation or Application of this Agreement
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. In the absence of a settlement through diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties; this commission shall convene without undue delay at the request of the first party to take action.
3. If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case: Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice- President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of the votes. The decisions of the Tribunal ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 2 contracts
Samples: Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning regarding the interpretation and or application of the provisions of this Agreement shall, as far as possible, shall if possible be settled through diplomatic channels.
(2. ) If both Contracting Parties cannot reach an agreement within six months after the beginning of the dispute between themselves, the latter shall, upon request of either Contracting Party, be submitted to an arbitral tribunal of three members. Each Contracting Party shall appoint one arbitrator, and these two arbitrators shall nominate a chairman who shall be a national of a third 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 make that appointment within two months, the arbitrator shall be appointed upon the request of that Contracting Party by the President of the International Court of Justice.
(4) If both arbitrators cannot thus reach an agreement about the choice of the chairman within two months after their appointment, the latter shall be settled within six (6) months following the date on which either Contracting Party requested such negotiations, it shall at appointed upon the request of either Contracting Party be submitted to an Arbitral Tribunalby the President of the International Court of Justice.
3. Such an Arbitral Tribunal shall be constituted for each individual case (5) If, in the following way. Within two cases specified under paragraphs (23) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four and (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make is prevented from carrying out the necessary appointments. If the President said function or is a national of either Contracting Party Party, the appointment shall be made by the Vice-President, and if the latter is prevented or is otherwise prevented from discharging the said functiona national of either Contracting Party, the Member appointment shall be made by the most senior Judge of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
5. The Arbitral Tribunal shall reach its decision (6) Subject to other provisions made by a majority of votes. The decisions of the Tribunal shall be final and binding on both Contracting Parties, the tribunal shall determine its own procedure. Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties, unless the arbitral tribunal decides otherwise.
(7) The decisions of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of proceduretribunal are final and binding for each Contracting Party.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Agreement, Investment Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through the diplomatic channelschannel.
(2. ) If a dispute between the dispute Contracting Parties cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationssettled, it shall at upon the request of either Contracting Party be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months from the date of the receipt of notification for the request for arbitration, each Contracting Party shall appoint one member of the Tribunaltribunal. Those These two members shall then within two (2) Months from their appointment select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four as chairperson.
(4) months from If within the date periods specified in paragraph three (3) of appointment of the other two members.
4. If this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make any necessary appointments. If the President is a National of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or if he too is otherwise prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; the cost of the Chairperson and the remaining costs shall be borne in equal parts by the Contracting Parties. The tribunal may, however in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costsand this award shall be binding on both Contracting Parties. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Agreement, Investment Agreement
Disputes between the Contracting Parties. relating to the interpretation or application of this Agreement
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. In the absence of a settlement through diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties ; this commission shall convene without undue delay at the request of the first party to take action.
3. If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case : Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice-President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of votes. The decisions of the Tribunal votes ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 2 contracts
Samples: Investment Agreement, Reciprocal Promotion and Protection of Investments Agreement
Disputes between the Contracting Parties. 1. Disputes Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as shall if possible, be settled through diplomatic channelsby negotiations between the Government of the two Contracting Parties.
2. If the dispute cannot thus be settled within six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunalarbitration tribunal.
3. Such an Arbitral Tribunal The arbitration tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitrationset up from rase to case, each Contracting Party shall appoint appointing one member of the Tribunalmember. Those These two members shall then select agree upon a national of a third State who on approval as their Chairman, to be appointed by foe Governments of the two Contracting Parties shall be appointed Chairman of the TribunalParties. The Chairman members shall be appointed within two months, and the Chairman within four (4) months months, from the date of appointment of either Contracting Party, has advised the other two membersContracting Party of its wish to submit the dispute to an arbitration tribunal.
4. If the necessary appointments time limits referred to in Paragraph 3 of this Article have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other relevant arrangement, 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 either Contracting Party, the VicePresident shall be invited to make the necessary appointments. If the Vice-President is prevented from discharging the said function or is a national of either Contracting Party or is otherwise prevented from discharging the said functionParty, the Member most senior member of the International Court of Justice next in seniority who is not incapacitated or a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
56. The Arbitral Tribunal arbitration tribunal shall reach its decision by a majority of votes. The decisions of , the Tribunal shall be decision being final and binding on both the Contracting Parties. Each Contracting Party shall bear the costs cost of the member appointed by that Contracting Party and of as well as the costs for its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share ; the cost of the costs of the Chairman, chairman as well as any other costscosts shall be borne in equal parts by the two Contracting Parties. The Tribunal may make arbitration tribunal may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costsContracting Parties. In all other respects, the Arbitral Tribunal shall determine its own rules procedure of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article the arbitration tribunal shall be decided in accordance with determined by the provisions of this Agreement and the generally recognised principles of international lawtribunal itself.
Appears in 2 contracts
Samples: Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Differences of opinion between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as possible, be settled through diplomatic channelsby friendly negotiations.
(2. ) If the dispute canan opinion disagreement can not thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationspursuant to paragraph 1, it shall be submitted to an arbitration tribunal at the request of either Contracting Party one of the contracting parties. If paragraph 1 is not submitted within six months, it shall be submitted to an Arbitral Tribunalarbitration court at the request of one of the contracting parties.
(3. Such an Arbitral Tribunal ) The arbitral tribunal shall be constituted for formed on a case-by-case basis, by appointing a member to each individual case in the following way. Within two (2) months of the receipt of parties to the request for arbitrationcontract, each Contracting Party shall appoint one member of the Tribunal. Those two and both members shall then select a national of agreeing to a third State who on approval by the two Contracting Parties person as chairman. The members shall be appointed Chairman of by the Tribunal. The Chairman shall be appointed chairman within four a further two months within two months after the one party to the agreement has notified the other that it wishes to submit the dispute to an arbitration tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified time limits set in paragraph 3 of this Article, either Contracting Party mayare not met, in the absence of any other arrangementagreement, invite each Contracting Party may ask the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national has the nationality of either Contracting Party or if he is not otherwise prevented from discharging exercising this function for any other reason, the said functionVice-President, shall or in the event of his / her being prevented, may be invited to the appointment of the most senior member of the International Court of Justice (3), in the absence of any other agreement, any Contracting Party may ask the President of the International Court of Justice to make the necessary appointments. If the President of the International Court of Justice has the nationality of either Contracting Party or if he is prevented from exercising this function for any other reason, the Vice-President, or in the event of his / her being prevented, may be invited to the appointment of the most senior member of the International Court of Justice ,
(5) The arbitral tribunal shall decide its own rules of procedure.
5(6) The arbitral tribunal shall decide on the basis of this Agreement as well as on the basis of generally accepted rules of international law. It decides with multiple votes; The Arbitral Tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal arbitration award shall be final and binding on both Contracting Parties. binding.
(7) Each Contracting Party shall bear the costs of the its member appointed by that Contracting Party and of its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share of the The costs of the Chairman, as well as any chairman and the other costscosts are borne equally by the two contracting parties. The Tribunal may make court may, however, in its arbitral award, adopt a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedurecost regime.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Agreement, Investment Agreement
Disputes between the Contracting Parties. (1. Disputes between ) In case of disputes concerning the interpretation or application of this Treaty, the Contracting Parties concerning shall initiate consultations through the interpretation and application of this Agreement shall, as far as possible, be settled through diplomatic channelschannel with a view to achieving an amicable settlement.
(2. ) If the a dispute cannot thus be settled in this manner within six (6) months following one year from the date on which either a Contracting Party requested such negotiationshas proposed to the other Contracting Party the initiation of the consultations referred to in paragraph 1, it shall the dispute may, at the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, as follows: each Contracting Party shall appoint one member of and the Tribunal. Those two members shall then select agree on a chairman, who shall be a national of a third State who on approval and shall be appointed by the Governments of the two Contracting Parties shall be appointed Chairman of the TribunalParties. The Chairman members shall be appointed within four two months, and the chairman within five months, from the date on which a Contracting Party has informed the other Contracting Party that it wishes to submit the dispute to an arbitral tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods time-limits specified in paragraph 3 of this Articleare not met, either Contracting Party may, in the absence of any other arrangementagreement, invite request the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said functionunable to act for any other reason, the Member Vice-President shall make the appointments. If the Vice-President is also a national of either Contracting Party or is also unable to act, the next most senior member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
(5) The arbitral tribunal shall decide disputes submitted to it in accordance with international law. The Arbitral Tribunal arbitral tribunal shall reach take its decision decisions by a majority of votesvote. The Its decisions of the Tribunal shall be final and binding on both Contracting Partiesbinding. Each Contracting Party shall bear the expenses of its own member and the costs of the member appointed by that Contracting Party and of its representation in the proceedings before the arbitral proceedings. Both Contracting Parties shall assume an equal share tribunal; the expenses of the chairman and the remaining costs of shall be borne in equal parts by the Chairman, as well as any other costs. two Contracting Parties.
(6) The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal arbitral tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
(2. ) If the a dispute cannot thus be settled within a period of six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party be submitted to an Arbitral Tribunal.
(3. ) Such an Arbitral Tribunal shall be constituted for each individual case in the following way. : Within two (2) months of from the receipt of the request for arbitration, each Contracting Party shall appoint one member of for the Tribunal. Those two members shall then select a national of a third Third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two members.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or if he or she is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or if he or she too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of its own member to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs of shall be borne in equal parts by the Chairman, as well as any other costsContracting Parties. The Tribunal may make may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costsContracting Parties, and this award shall be binding on and executed by both Contracting Parties. In all other respects, the Arbitral The Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as possible, shall be settled through diplomatic channels.
2. If the Contracting Parties fail to reach an agreement within twelve months after the dispute cannot thus has arisen between them, the dispute shall be settled within six (6) months following the date on which either Contracting Party requested such negotiationsreferred, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunal.
3arbitration tribunal consisting of three members. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Each Contracting Party shall appoint one member arbitrator and these two arbitrators shall elect a chairman of the Tribunal. Those two members shall then select court, which must be a national citizen of a third State who on approval by State.
3. If one of the two Contracting Parties has not appointed its arbitrator and has not responded to the invitation of the other Contracting Party to make such appointment within two months, the arbitrator shall be appointed Chairman at the request of the Tribunal. The Chairman shall be appointed within four (4) months from latter Contracting Party, the date of appointment International President of the other two membersCourt.
4. If both arbitrators can not reach an agreement about the necessary appointments have not been made choice of President of the Court within two months of their appointment, the periods specified Chief Justice shall be appointed at the request of any of the Contracting Parties to the International Court of Justice.
5. If, in paragraph the cases provided for in paragraphs 3 and 4 of this Article, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make can not perform the necessary appointments. If the President said function or if he is a national citizen of either Contracting Party or is otherwise prevented from discharging the said functionParty, the Member appointment shall be made Vice-Chairman, and if the latter also can not do this or he is a citizen of either Contracting Party, the appointment shall be made the next most senior member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, Party. Appointment of Chairman shall be invited held within three months from the date of referral to make the necessary appointmentsInternational Court of Justice.
56. The Arbitral Tribunal A tribunal established under this Article shall reach its decision take decisions by a majority of votesvote. The These decisions of the Tribunal shall be final and are binding on both Contracting Parties. Each Contracting Party shall bear the costs of its appointed member of the member appointed by that Contracting Party tribunal and of the costs associated with its representation participation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share ; president of the court costs associated with its participation in the arbitration proceedings and the costs associated with the consideration of the Chairmandispute, as well as any other costswhich will be divided equally between the Contracting Parties. The Tribunal may make a different decision regarding Court itself defines the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of proceduretheir work.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning the interpretation and application of this Agreement shall, as far as if possible, be settled through diplomatic channels.
(2. If ) 1f a dispute between the dispute Contracting Parties cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationsmonths, it shall at the shall, upon request of either Contracting Party Party, be submitted to an ad hoc Arbitral Tribunal.
(3. ) Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four ;
(4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this ArticleArticle the necessary appointments have not been made, either Contracting Party may, in the absence of any other arrangementagreements, invite the President of the International Court of Justice to make the necessary such appointments. If the President is a national citizen of either Contracting Party or if he otherwise is otherwise prevented from discharging the said function, the Member Vice-President shall be invited to make the necessary appointments. If the Vice-President is a citizen of either Contracting Party or if he too is prevented from discharging the said function, the member of the International Court of Justice next in seniority who is not a national citizen of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of its own member of the member appointed by that Contracting Party Tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of ; the costs of the Chairman, as well as any other costsChairman and the remaining costs shall be borne in equal parts by the Contracting Parties. The Tribunal may make may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs shall be borne by one of the coststwo Contracting Parties, and this award shall be binding on both Contracting Parties. In all other respects, the Arbitral The Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within : within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. The Tribunal may make a different decision regarding and this award shall be binding on, and executed by, both Contracting Parties.
(6) Apart from the sharing of the costs. In all other respectsabove, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and application of this Agreement shall, as far as possible, be settled through diplomatic channels.
2. If the dispute cannot thus be settled within six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4. If the any necessary appointments have appointment has not been made within the periods specified in paragraph 3 of this Article, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
5. The Arbitral Tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of the member appointed by that Contracting Party and of its representation in at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the costs cost of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as if possible, be settled through diplomatic channelsbetween the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at the request of either ei- ther Contracting Party be submitted to an Arbitral Tribunalarbitration tribunal.
(3. Such an Arbitral Tribunal ) The arbitration tribunal shall be constituted for each individual set up from case in the following way. Within two (2) months of the receipt of the request for arbitrationto case, each Contracting Party shall appoint appointing one member of the Tribunalmember. Those These two members shall then select agree upon a national of a third State who on approval as their chairman, to be appointed by the Governments of the two Contracting Parties shall be appointed Chairman of the TribunalPar- ties. The Chairman members shall be appointed within two months, and the Chairman within four months, from the date either Contracting Party has advised the other Contracting Party of its wish to submit the dispute to an arbitration tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments time limits referred to in paragraph (3) of this Article have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other relevant arrangement, invite the President of the International Court of Justice to make the any necessary appointments. .
(5) If the President of the International Court of Justice is prevented from discharg- ing the function provided for in Paragraph (4) of this Article or is a national of either Contracting Party or Party, the Vice-president shall be invited to make the necessary appoint- ments. If the Vice-president is otherwise prevented from discharging the said functionfunction or is a na- tional of either Contracting Party, the Member most senior member of the International Court of Justice next in seniority who is not inca- pacitated or a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
5. (6) The Arbitral Tribunal arbitration tribunal shall reach its decision by a majority of votes. The decisions of , the Tribunal deci- sion shall be final and binding on both the Contracting Parties. Each Contracting Party shall bear the costs cost of the member appointed by that Contracting Party and of as well as the costs for its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share ; the cost of the costs of the Chairman, chairman as well as any other costscosts shall be borne in equal parts by the two Contracting Parties. The Tribunal may make arbitration tribunal may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costsContracting Parties. In all other respects, the Arbitral Tribunal shall determine its own rules procedure of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article the arbitra- tion tribunal shall be decided in accordance with determined by the provisions of this Agreement and the generally recognised principles of international lawtribunal itself.
Appears in 2 contracts
Samples: Investment Protection Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes The Contracting Parties shall seek in good faith and a spirit of cooperation a rapid and equitable solution to any dispute between them concerning the interpretation or application of this Agreement. In this regard, the Contracting Parties concerning the interpretation agree to engage in direct and application of this Agreement shall, as far as possible, be settled through diplomatic channels.
2meaningful negotiations to arrive at such solutions. If the dispute Contracting Parties cannot thus be settled reach an agreement within six (6) months following after the date on which either Contracting Party requested such negotiationsbeginning of dispute between themselves through the foregoing procedure, it shall at the dispute may be submitted, upon the request of either Contracting Party be submitted Party, to an Arbitral Tribunalarbitral tribunal of three members.
3. Such an Arbitral Tribunal shall be constituted for each individual case in the following way2. Within two (2) months of the receipt of the request for arbitrationa request, each Contracting Party shall appoint one member of the Tribunalan arbitrator. Those The two members arbitrators shall then select a third arbitrator as Chairman, who is a national of a third State who on approval by State. In the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, event either Contracting Party mayfails to appoint an arbitrator within the specified time, in the absence of any other arrangement, invite Contracting Party may request the President of the International Court of Justice to make the necessary appointmentsappointment.
3. If both arbitrators cannot reach an agreement about the choice of the 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.
4. If in the cases specified under paragraphs (2) and (3) of this Article, the President of the International Court of Justice is prevented from carrying out the said function or if he is a national of either Contracting Party or Party, the appointment shall be made by the Vice-President, and if the Vice-President is otherwise prevented from discharging carrying out the said functionfunction or if he is a national of either Contracting Party, the Member appointment shall be made the most senior judge of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
5. The Arbitral Tribunal tribunal shall have three months from the date of the selection of the Chairman to agree upon rules of procedure consistent with the other provision of this Agreement. In the absence of such agreement, the tribunal shall request the President of the International Court of Justice to designate rules of procedure, taking into account generally recognised rules of international arbitral procedure.
6. Subject to other provisions made by the Contracting Parties the tribunal shall determine its procedure. The arbitral tribunal shall reach its decision decisions, which shall be final and binding, by a majority of votes. The decisions of the Tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of the member appointed by that Contracting Party and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 2 contracts
Samples: Investment Agreement, Investment Agreement
Disputes between the Contracting Parties. (1. Disputes ) Differences of opinion between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as possible, be settled through diplomatic channelsby friendly negotiations.
(2. ) If the dispute canan opinion disagreement can not thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationspursuant to paragraph 1, it shall be submitted to an arbitration tribunal at the request of either Contracting Party one of the contracting parties. If paragraph 1 is not submitted within six months, it shall be submitted to an Arbitral Tribunalarbitration court at the request of one of the contracting parties.
(3. Such an Arbitral Tribunal ) The arbitral tribunal shall be constituted for formed on a case-by-case basis, by appointing a member to each individual case in the following way. Within two (2) months of the receipt of parties to the request for arbitrationcontract, each Contracting Party shall appoint one member of the Tribunal. Those two and both members shall then select a national of agreeing to a third State who on approval by the two Contracting Parties person as chairman. The members shall be appointed Chairman of by the Tribunal. The Chairman shall be appointed chairman within four a further two months within two months after the one party to the agreement has notified the other that it wishes to submit the dispute to an arbitration tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified time limits laid down in paragraph 3 of this Articleare not met, either each Contracting Party may, in the absence of any other arrangementagreement, invite ask the President Secretary-General of the International Court of Justice United Nations to make the necessary appointments. If the President Secretary-General of the United Nations has the nationality of one of the Contracting Parties or if he is a national prevented from exercising this function for any other reason, the United Nations Deputy Secretary-General may be invited under the same conditions to make the appointments.For 3 stipulated deadlines, In the absence of any other agreement, any Contracting Party may request the Secretary-General of the United Nations to make the necessary appointments. If the Secretary-General of the United Nations has the nationality of either Contracting Party or if he is otherwise prevented from discharging the said functionexercising this function for any other reason, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall United Nations Secretary-General may be invited under the same conditions to make the necessary appointments.
(5) The arbitral tribunal shall decide its own rules of procedure.
(6) The arbitral tribunal shall decide on the basis of this Agreement as well as on the basis of generally accepted rules of international law. It decides with multiple votes; The Arbitral Tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal arbitration award shall be final and binding on both Contracting Parties. binding.
(7) Each Contracting Party shall bear the costs of the its member appointed by that Contracting Party and of its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share of the The costs of the Chairman, as well as any chairman and the other costscosts are borne equally by the two contracting parties. The Tribunal may make court may, however, in its arbitral award, adopt a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedurecost regime.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. relating to the interpretation or application of this Agreement
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. In the absence of a settlement through diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties ; this commission shall convene without undue delay at the request of the first party to take action.
3. If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case : Each Contracting Party shall appoint one arbitrator within six (6) a period of three months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of three months following their appointment, two (2) months of the receipt of the request for arbitration, each Contracting Party arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice-President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of votes. The decisions of the Tribunal votes ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Reciprocal Promotion and Protection of Investments Agreement
Disputes between the Contracting Parties. 1. Disputes Any dispute between the Contracting Parties contracting parties concerning the interpretation and or application of this Agreement shallagreement should, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two contracting parties.
2. If the dispute cannot thus be settled in this way within six (6) months following from the date on which of request for such negotiation by either of the two Contracting Party requested such negotiationsParties shall be submitted, it shall at the request of either Contracting Party be submitted contracting party to an Arbitral Tribunalarbitral tribunal.
3. Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitrationcase, each Contracting Party shall appoint one member of the Tribunalmember. Those two members shall then select a national of a third State as their Chairman who on approval by the two Contracting Parties shall be appointed Chairman by the Governments of the Tribunaltwo contracting parties. The Chairman members shall be appointed within two months and the Chairman within four (4) months from the date of appointment of on which either Contracting Party has informed the other two memberscontracting party of its wish to submit the dispute to an arbitral tribunal.
4. If In the necessary appointments have not been made within event of failure to comply with the periods time limits specified in paragraph 3 (3) of this Articlearticle, either of the Contracting Party mayParties, in the absence of any other arrangementagreement, 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 either Contracting Party or Party, the Vice-President shall be requested to make the necessary appointments. If the Vice-President is otherwise prevented from discharging carrying out the said functionfunction or if he is a national of either Contracting Party, the Member member of the International Court of Justice next who in seniority who is incapacitated or not is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
56. The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and conclusive and shall be binding on both Contracting Partiescontracting parties. Each Contracting Party shall bear of the costs contracting parties settled the cost of the member appointed by that Contracting Party and of as well as the costs for its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share ; the cost of the costs of the Chairman, Chairman as well as any other costscosts shall be borne in equal parts by the two contracting parties. The Tribunal However, the arbitral tribunal may make a different decision regarding the sharing order, in its decision, which one of the Contracting Parties solvent a higher proportion of costs. In all other respects, the Arbitral Tribunal shall determine its own rules procedure of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article the arbitral tribunal shall be decided in accordance with determined by the provisions of this Agreement and the generally recognised principles of international lawTribunal itself.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channels.
(2. ) If a dispute between the dispute Contracting Parties cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationssettled, it shall at upon the request of either Contracting Party be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunaltribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two members.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.paragraph (3) of this Article the necessary appointments have not been made, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make any necessary appointments. If the President is a national of either Contracting Party or if he is not otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; the cost of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Parties, as well as any other costsand this award shall be binding on both Parties. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and application ap- plication of the provisions of this Agreement shall, as far as possible, shall be settled through diplomatic channelschan- nels.
2. If the dispute an agreement cannot thus be settled reached by the Contracting Parties within six (6) months following from the date on which either Contracting Party requested such negotiationsthe dispute arose, it shall at the dispute shall, upon the request of either Contracting Party Party, be submitted referred to an Arbitral Tribunal.
3arbitration tribunal comprising three members. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Each Contracting Party shall appoint one member of arbitrator and the Tribunal. Those two members appointed arbitrators shall then select se- lect a chair, who shall be a national of a third State who on approval maintaining diplomatic relations with both Contracting Parties.
3. If one of the Contracting Parties does not appoint an arbitrator and does not agree with the invitation by the second Contracting Party to make such an appointment within two Contracting Parties (2) months, the arbitrator shall be appointed Chairman of appointed, at the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 request of this ArticleContracting Party, either Contracting Party may, in the absence of any other arrangement, invite by the President of the International Court of Justice to make the necessary appointmentsin The Hague.
4. If neither arbitrator can reach an agreement on the selection of a chair within two (2) months from the date of their appointments, the chair shall be appointed, at the request of either Contracting Party, by the President of the International Court of Justice.
5. If in the cases specified in paragraphs 3 and 4 of this article the President of the International Court of Justice cannot discharge the said functions or is a national of either one of the Contracting Party Parties, the appointment shall be made by the Vice-President, and if the Vice-President too cannot discharge the said functions or is otherwise prevented from discharging a national of one of the said functionContracting Parties, the Member appointment shall be made by the member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
56. The Arbitral Tribunal arbitration tribunal shall establish its procedural rules without violating other arrangements between the Contracting Parties. The arbitral tribunal shall reach its decision decisions by a majority of votes.
7. Each Contracting Party shall bear the maintenance costs for its member of the tribunal, in accordance with its share in the arbitration proceedings. The maintenance costs for the chair of the arbitration tribunal and other costs shall be borne by the Con- tracting Parties in equal parts. In its decision the tribunal may, however, allocate a higher participation in the costs to one of the Contracting Parties, and this decision shall be binding on both Contracting Parties.
8. The decisions of the Tribunal shall be tribunal are final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of the member appointed by that Contracting Party and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Disputes between the Contracting Parties. Relating to the Interpretation or Application of this Agreement
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. In the absence of settlement by diplomatic way, the dispute shall be submitted to a Mixed Commission, compound by representants of the two Parties; to meet without undue delay at the request of the first party to take action.
3. If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case: Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall 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 either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice- President of the International Court of Justice next in seniority who shall be requested to make the appointments. If the Vice-president is a national of any Contracting Party or he cannot exercise this function, the oldest member of the International Court of Justice, that is not a national of either the one Contracting Party or is not otherwise prevented from discharging the said functionParty, shall should be invited to make execute the necessary appointments.
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of the votes. The decisions of the Tribunal ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through the diplomatic channelschannel.
(2. ) If a dispute between the dispute Contracting Parties cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationssettled, it shall at upon the request of either Contracting Party be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunaltribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two members.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.paragraph (3) of this Article the necessary appointments have not been made, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make any necessary appointments. If the President is a national of either Contracting Party or if he is not otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; the cost of the Chairman and the remaining costs shall in principle be borne in equal parts by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costsand this award shall be binding on both Contracting Parties. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. RELATING TO THE JNTERPRETATION OR APPLICATION OF THIS AGREEMENT.
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. If the absence of a settlement trough diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties; this commission shall convene without undue delay at the request of the first party to take action.
3. If the joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case: Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice-President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of the votes. The decisions of the Tribunal ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting, from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. 1. Disputes Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as if possible, be settled through diplomatic channels.
2. If the dispute cannot thus be settled within six (6) months following from the beginning of the negotiations, it shall, upon the request of either Contracting Party, be submitted to an arbitration tribunal.
3. The arbitration tribunal shall be constituted ad hoc as follows: Each Contracting party shall appoint one arbiter and these two arbiters shall agree upon a national of a third State as Chairman. The arbiters shall be appointed within three months, the Chairman within five months from the date on which either Contracting Party requested such negotiations, it shall at has informed the request of either other Contracting Party be submitted that it intends to submit the dispute to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two membersarbitration tribunal.
4. If one of the necessary appointments have Parties falls to appoint its arbiter and has not been made proceeded to do so within the periods specified in paragraph 3 of this Articleperiod, either Contracting the other Party may, in the absence of any other arrangement, may invite the President of the International Court of Justice to make the necessary appointments. If the two arbiters are unable to reach an agreement, in the specified period, on the choice of the third arbiter, either Party may invite the President of the International Court of Justice to make the necessary appointments.
5. If in the cases provided for in the fourth paragraph of the present Article, the president of the International Court or Justice is prevented from discharging of the said function, or is a national of either Contracting Party Party, the vice-president shall be invited to make the necessary appointments. If the vice-president is prevented from fulfilling of the said function or is otherwise prevented from discharging the said functiona national of either Party, the Member of most senior member or the International Court of Justice next in seniority available, who is not a national of either Contracting Party or is not otherwise prevented from discharging the said functionParty, shall be invited to make the necessary appointments.
56. The Arbitral Tribunal arbitration tribunal shall decide on the basis of respecting international law, including particularly the present Agreement and other relevant agreements existing between the two Contracting Parties, as well as the generally acknowledged rules and principles of international law.
7. Unless the Parties decide otherwise, the tribunal shall determine its own procedure.
8. The tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting the Parties.
9. Each Contracting Party shall bear the costs of the member arbiter appointed by that Contracting Party itself and of its representation in the arbitral proceedingsrepresentatives. Both Contracting Parties shall assume an equal share The cost of the costs of the Chairman, Chairman as well as any the other costs. The Tribunal may make a different decision regarding costs will be born in equal parts by the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedureContracting Parties.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
2. If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
3. Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within : within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
4. If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary neccesary appointments.
5. The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costsand this award shall be binding on, and executed by, both Contracting Parties.
6. The Tribunal may make a different decision regarding Apart from the sharing of the costs. In all other respectsabove, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within : within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary neccesary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. The Tribunal may make a different decision regarding and this award shall be binding on, and executed by, both Contracting Parties.
(6) Apart from the sharing of the costs. In all other respectsabove, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Disputes between the Contracting Parties. Relating to the Interpretation or Application of this Agreement
1. Disputes between the Contracting Parties concerning ) Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. ) In the absence of a settlement through diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties; this commission shall convene without undue delay at the request of the first party to take action.
3) If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case: Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, may invite the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice- President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsappointment(s).
54) The court thus constituted shall determine its own rules of procedure. The Arbitral Tribunal Its decisions shall reach its decision be taken by a majority of the votes. The decisions of the Tribunal ; they shall be final and binding on both the Contracting Parties. .
5) Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as possible, should be settled through diplomatic channelsamicably.
2. If the such a dispute canhas not thus be been settled within six (6) months following from the date on at which either Contracting Party requested such negotiationsamicable settlement was requested, it shall at the upon request of either Contracting Party be submitted to an Arbitral Tribunalarbitration tribunal.
3. Such an Arbitral Tribunal The arbitration tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitrationcase, each Contracting Party shall appoint appointing one member of the Tribunalmember. Those These two members shall then select agree upon a national of a third State who on approval to be appointed by the two Contracting Parties shall be appointed Chairman of the Tribunalto their Chairman. The Chairman members shall be appointed within two months and the Chairman within four (4) months from the date of appointment the written notice containing the request under paragraph 2 of the other two membersthis Article.paragraph 2 of this Article.
4. If the necessary appointments time limits referred to in paragraph three of this Article have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, may invite the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging this task, the appointments shall be made by the Vice - President of the International Court of Justice. If the Vice - President is a national of either Contacting Party or he/she too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.paragraph three of this Article have not been complied with, either Contracting Party may invite the President of the International Court of Justice to make necessary appointments. If the President is a national of either Contracting Party or is not otherwise prevented from discharging this task, the appointments shall be made by the Vice - President of the International Court of Justice. If the Vice - President is a national of either Contacting Party or he/she too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.
5. The Arbitral Tribunal arbitration tribunal shall reach determine its decision own procedures and take its decisions by a majority of votes. Each Contracting Party shall bear the cost of its own member and its own representation in the arbitration proceedings; the cost of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties, unless the tribunal decides otherwise. The decisions and awards of the Tribunal arbitration tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs of the member appointed by that Contracting Party and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes between the The Contracting Parties concerning shall endeavour to settle any dispute arising between them in connection with the interpretation and or application of this Agreement shallin good faith, as far as possiblein a spirit of co-operation and in a prompt and fair manner. The Contracting Parties hereby agree to hold direct and open negotiations to settle the dispute. If the Contracting Parties fail to reach an agreement between them through the above-mentioned procedures within six months after the beginning of the dispute, the dispute shall be settled through diplomatic channelssubmitted to a three-member arbitral tribunal at the request of each Contracting Party.
2. If the dispute cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiations, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitrationrequest, each Contracting Party shall appoint one member of the Tribunalan arbitrator. Those These two members arbitrators shall then select elect a national third arbitrator, who is a citizen of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4country, as chairman. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party mayfails to obtain the appointment of an arbitrator within a specified period, in the absence of any other arrangement, invite Contracting Party may request the President of the International Court of Justice to make the necessary appointmentsappoint one.
3. If both arbitrators are unable to agree on the election of the President is a national within two months of either Contracting Party or is otherwise prevented from discharging the said functiontheir appointment, the Member President shall be appointed by the President of the International Court of Justice next at the request of either Contracting Party.
4. Appointments shall be made by the Vice-President if, in seniority the cases referred to in paragraphs 2 and 3 of this Article, the President of the International Court of Justice is not authorized to perform this function or is a national of any Contracting Party. If the Vice-President is also not authorized to perform the said function or is a national of any Contracting Party, the appointments shall be made by a high-ranking member of the Court who is not a national of either the Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
5. The Arbitral Tribunal arbitral tribunal shall have a period of three months from the date of the election of the President to agree on the rules of procedure which do not contradict the other provisions of this Agreement. In the absence of such an agreement, the tribunal shall request the President of the International Court of Justice to determine the rules of procedure, taking into account the generally accepted rules of international arbitration.
6. The seat of the arbitral tribunal shall be determined by mutual agreement between the Contracting Parties and the dispute shall be settled in accordance with the law of the Contracting Party in whose territory the investment is made. Unless otherwise agreed, all submissions and court transcripts must be completed in English within eight months of the election of the third judge, and the court must reach its decision no later than two months after the submission of the final documents or the completion of the trial. The arbitral tribunal shall reach its decision final and binding decisions by a majority of votes.
7. The decisions expenses of the Tribunal President, other judges and other proceedings shall be final and binding on both borne equally by the Contracting Parties. Each Contracting Party shall bear However, the costs of the member appointed by court may, at its discretion, decide that Contracting Party and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share most of the costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedurebe borne by one Contracting Party.
68. Issues subject to If the dispute has been referred to in paragraph 1 of this Article shall be decided another international arbitral tribunal in accordance with the provisions of Article 7 and is still pending before the tribunal, it shall not be submitted to the international arbitral tribunal under the provisions of this Agreement Article. This shall not adversely affect the conduct of direct meetings and open negotiations between the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. RELATING TO THE INTERPRETATION OR APPLICATION OF THIS AGREEMENT.
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. In the absence of a settlement through diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties; this commission shall convene without undue delay at the request of the first party to take action.
3. If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case: Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice-President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of the votes. The decisions of the Tribunal ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. 1. Disputes Either Contracting Party may request consultations on the interpretation or application of this Agreement. The other Contracting Party shall give sympathetic consideration to the request. Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as whenever possible, be settled amicably through diplomatic channelsconsultations.
2. If the a dispute cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationsthrough consultations, it shall shall, at the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral panel for decision.
3. Such an Arbitral Tribunal An arbitral panel shall be constituted for each individual case in the following waydispute. Within two (2) months of the after receipt through diplomatic channels of the request for arbitration, each Contracting Party shall appoint one member of to the Tribunalarbitral panel. Those The two members shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunalarbitral panel. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersmembers of the arbitral panel.
4. If within the periods specified in Paragraph 3 of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or is prevented from discharging the said function, the Member of the International Court of Justice next in seniority seniority, who is not a national of either Contracting Party or is not otherwise prevented from discharging the said functionParty, shall be invited to make the necessary appointments.
5. The Arbitral Tribunal arbitral panel shall determine its own procedure. The arbitral panel shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Unless otherwise agreed, the decision of the arbitral panel shall be rendered within six months of the appointment of the Chairman in accordance with Paragraphs 3 or 4 of this Article.
6. Each Contracting Party shall bear the costs of its own member of the member appointed by that Contracting Party panel and of its representation in the arbitral proceedings; the costs related to the Chairman and any remaining costs shall be borne equally by the Contracting Parties. Both The arbitral panel may, however, in its decision direct that a higher proportion of costs shall be borne by one of the two Contracting Parties, and this award shall be binding on both Contracting Parties.
7. The Contracting Parties shall assume an equal share shall, within 60 days of the costs decision of a panel, reach agreement on the manner in which to resolve their dispute. Such agreement shall normally implement the decision of the Chairman, as well as any other costspanel or shall otherwise determine compensation. The Tribunal may make a different decision regarding If the sharing of the costs. In all other respectsContracting Parties fail to reach agreement, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to Contracting Party bringing the dispute referred to in paragraph 1 of this Article shall be decided in accordance with entitled to suspend benefits of equivalent effect to those awarded by the provisions of this Agreement and the generally recognised principles of international lawpanel.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as if possible, be settled by negotiations between the Governments of the Contracting Parties through the diplomatic channelschannel.
(2. ) If the dispute cannot thus be settled within six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunalarbitration tribunal.
(3. Such an Arbitral Tribunal ) The arbitration tribunal shall be constituted for each individual set up from case in the following way. Within two (2) months of the receipt of the request for arbitrationto case, each Contracting Party shall appoint appointing one member of the Tribunalmember. Those These two members shall then select agree upon a national of a third State who on approval as their chairman, to be appointed by the Governments of the two Contracting Parties shall be appointed Chairman of the TribunalParties. The Chairman members shall be appointed within two months, and the chairman within four months, from the date either Contracting Party has advised the other Contracting Party of its wish to submit the dispute to an arbitration tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments time limits referred to in Paragraph (3) of this Article have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other relevant arrangement, 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 either Contracting Party or Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is otherwise prevented from discharging the said functionfunction or is a national of either Contracting Party, the Member most senior member of the International Court of Justice next in seniority who is not incapacitated or a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
5. (6) The Arbitral Tribunal arbitration tribunal shall reach its decision by a majority of votes. The decisions of , the Tribunal shall be decision being final and binding on both the Contracting Parties. Each Contracting Party shall bear the costs cost of the member appointed by that Contracting Party and of as well as the costs for its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share The cost of the costs of the Chairman, chairman as well as any other costscosts shall in principle be borne in equal parts by the two Contracting Parties. The Tribunal may make arbitration tribunal may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costsContracting Parties. In all other respects, respects the Arbitral Tribunal shall determine its own rules procedure of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article the arbitration tribunal shall be decided in accordance with determined by the provisions of this Agreement and the generally recognised principles of international lawtribunal itself.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. : Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; the cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. and this award shall be binding on, and executed by, both Contracting Parties.
(6) The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. 1. Disputes Any dispute between the Contracting Parties concerning relating to the interpretation and or application of this Agreement shall, as far as to the extent possible, be settled through diplomatic channelsby the Gov- ernment of the two Contracting Parties.
2. If the a dispute cannot be thus be settled within six (6) months following from the date on which either Contracting Party requested such start of the negotiations, it shall shall, at the request of either of the two Contracting Party Parties, be submitted to an Arbitral Tribunalarbitral tribunal.
3. Such an Arbitral Tribunal The arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, as follows: each Contracting Party shall appoint one member of the Tribunal. Those arbitrator and these two members arbitrators shall then select a national of a third State who as president. The arbitrators shall be appointed within three months and the president within five months from the date on approval by which either of the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of informs the other two membersContracting Party of its intention to submit the dispute to an arbitral tribunal.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party mayfails to appoint its arbitrator within the period specified, in the absence of any other arrangement, Contracting Party may invite the President of the International Court of Justice to make the necessary appointmentsappointment. If Where the two arbitrators are unable to agree on the appointment of the third arbitrator within the designated period, either Contracting Party may invite the President of the International Court of Justice to make the necessary appointment.
5. If, in the case provided for in paragraph 4 of this article, the President of the International Court of Justice is prevented from acting or is a national of either Contracting Party Party, the Vice-President shall be invited to make the necessary ap- pointments. If the Vice-President is prevented from acting or is otherwise prevented from discharging the said functiona national of either Contracting Party, the Member appointments shall be made by the most senior member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
56. The Arbitral Tribunal arbitral tribunal shall reach issue its ruling in accordance with the law, the provisions of the present Agreement of other agreements in force between the Con- tracting Parties and the universally recognized principles of international law.
7. Unless the Contracting Parties decide otherwise, the tribunal shall deter- mine its own procedures.
8. The tribunal shall take its decision by a majority of votes. The decisions of the Tribunal , and such decision shall be final and binding on both Contracting Parties.
9. Each Contracting Party shall bear defray the costs expenses of the member arbitrator appointed by that Contracting Party it and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The remaining expenses, including those of the costs of the Chairmanpresident, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with shared equitably by the provisions of this Agreement and the generally recognised principles of international lawtwo Contracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through the diplomatic channels.
(2. ) If a dispute between the dispute Contracting Parties cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationsin accordance with aforementioned sub-article, it shall at upon the request of either Contracting Party be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunaltribunal. Those two members shall then within two months from their appointment select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four as chairperson.
(4) months from If within the date periods specified in paragraph (3) of appointment of the other two members.
4. If this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; the cost of the Chairperson and the remaining costs shall be borne in equal parts by the Contracting Parties. The tribunal may, however in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costsand this award shall be binding on both Contracting Parties. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Bilateral Investment Treaty
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as if possible, be settled through diplomatic channelsby negotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunalarbitration tribunal.
(3. Such an Arbitral Tribunal ) The arbitration tribunal shall be constituted for each individual set up from case in the following way. Within two (2) months of the receipt of the request for arbitrationto case, each Contracting Party shall appoint appointing one member of the Tribunalmember. Those These two members shall then select agree upon a national of a third State who on approval as their chairman, to be appointed by the Governments of the two Contracting Parties shall be appointed Chairman of the TribunalParties. The Chairman members shall be appointed within two months, and the chairman within four months, from the date either Contracting Party, has advised the other Contracting Party of its wish to submit the dispute to an arbitration tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments time limits referred to in paragraph (3) of this Article have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other relevant arrangement, 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 either Contracting Party or Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is otherwise prevented from discharging the said functionfunction or is a nation of either Contracting Party, the Member most senior member of the International Court of Justice next in seniority court who is not incapacitated or a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
5. (6) The Arbitral Tribunal arbitration tribunal shall reach its decision by a majority of votes. The decisions of , the Tribunal shall be decision being final and binding on both the Contracting Parties. Each Contracting Party shall bear the costs cost of the member appointed by that the Contracting Party and of as well as the costs for its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share ; the cost of the costs of the Chairman, chairman as well as any other costscosts shall be born in equal parts by the two Contracting Parties. The Tribunal may make arbitration tribunal may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs be borne by one of the costsContracting Parties. In all other respects, the Arbitral Tribunal shall determine its own rules procedure of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article the arbitration tribunal shall be decided in accordance with determined by the provisions tribunal itself. This Agreement shall apply to all investments, whether made before or after its entry into force, but shall not apply to any dispute or claim concerning an investment arising out of this Agreement and the generally recognised principles of international lawevents which occurred, or to any such claim which had been settled, before its entry into force.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channels.
(2. ) If a dispute between the dispute Contracting Parties cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationssettled, it shall at upon the request of either Contracting Party be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunaltribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two members.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.paragraph (3) of this Article the necessary appointments have not been made, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make any necessary appointments. If the President is a national of either Contracting Party or if he is not otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings; the cost the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties. Both Contracting Parties The tribunal may, however, in its decision direct that a higher proportion of costs shall assume an equal share be borne by one of the costs of the Chairmantwo Contracting Parties, as well as any other costsand this award shall be binding on both Contracting Parties. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. : Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The Such decisions of the Tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; the cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. and this award shall be binding on, and executed by, both Contracting Parties.
(6) The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. relating to the interpretation or application of this Agreement
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. In the absence of a settlement through diplomatic channels within a period of six months following the date these negotiations were requested, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties; this commission shall convene without undue delay at the request of the first party to take action.
3. If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case: Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice-President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of the votes. The decisions of the Tribunal ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Reciprocal Promotion and Protection of Investments Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as whenever possible, be settled amicably through diplomatic channelsconsultations.
(2. ) If the a dispute cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationsthrough consultations, it shall shall, at the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal for decision.
(3. Such an Arbitral Tribunal ) An arbitral tribunal shall be constituted for each individual case in the following waydispute. Within two (2) months of the after receipt through diplomatic channels of the request for arbitration, each Contracting Party shall appoint one member of to the Tribunalarbitral tribunal. Those The two members shall then select a national of a third State who on who, upon approval by the two Contracting Parties contracting parties, shall be appointed Chairman of the Tribunalarbitral tribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersmembers of the arbitral tribunal.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President president of the International Court of Justice to make the necessary appointments. If the President is a national of either contracting Party or is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. It the Vice-President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Member of the International Court of Justice next in seniority seniority, who is not a national of either Contracting Party, shall be invited to make the necessary appointments.paragraph (3) of this Article the necessary appointments have not been made, either Contracting Party may, in the absence of any other agreement, invite the president of the International Court of Justice to make the necessary appointments. If the President is a national of either contracting Party or is not otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. It the Vice-President is a national of either Contracting Party or is prevented from discharging the said function, the Member of the International Court of Justice next in seniority, who is not a national of either Contracting Party, shall be invited to make the necessary appointments.
(5) The arbitral tribunal shall determine its own procedure. The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Unless otherwise agreed, the decision of the arbitral tribunal shall be rendered within six months of the appointment of the Chairman in accordance with paragraphs (3) or (4) of this Article.paragraphs (3) or (4) of this Article.
(6) Each Contracting Party shall bear the costs of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings; the costs related to the Chairman and any remaining costs shall be borne equally by the Contracting Parties. Both Contracting Parties The arbitral tribunal may, however, in its decision direct that a higher proportion of costs shall assume an equal share be borne by one of the costs of the Chairmantwo Contracting Parties, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of and this Article award shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international lawbinding on both Contracting Parties.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through the diplomatic channelschannel.
(2. ) If a dispute between the dispute Contracting Parties cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationssettled, it shall at upon the request of either Contracting Party be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitrationarbitraion, each Contracting Party shall appoint one member of the Tribunaltribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two members.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.paragraph (3) of this Article the necessary appointments have not been made, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make any necessary appointments. If the President is a national of either Contracting Party or if he is not otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice- President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision decisions by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; the cost of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costsand this award shall be binding on both Contracting Parties. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. : Within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The Such decisions of the Tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; the cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. and this award shall be binding on, and executed by, both Contracting Parties.
(6) The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as if possible, be settled through diplomatic channelsconsultation or negotiation.
2. If the dispute cancan not thus be settled within six (6) months following from the date on which either of written notification by one Contracting Party requested such negotiationsto another Contracting Party, it shall at will be submitted to arbitration based on the request requirements of either Contracting Party be submitted to an Arbitral TribunalParty.
3. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, The arbitral tribunal is created as follows: each Contracting Party shall appoint one member of the Tribunalcourt. Those These two members shall then select a national of a third State who on approval State, appointed by the two Contracting Parties shall be appointed Chairman of the TribunalCourt. The Members are appointed by the court within three months, and its Chairman shall be appointed within four (4) five months from the date of appointment of written notification by one Contracting Party to another Contracting Party intends to submit the other two membersdispute to arbitration.
4. If the necessary appointments have not been made within the periods specified period referred to in paragraph 3 of this Article, either Contracting Party maythe appointments have been made, in the absence of any other arrangement, invite will be invited to the President of the International Court of Justice to make the necessary appointments. If the President it turns out that he is a national citizen of either Contracting Party or if he is otherwise prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited the Vice President to make the necessary appointments. If the Vice President is a national of either Contracting Party or prevented from discharging the said function, the member of the International Court of Justice, the most senior who is not a national of either Contracting Party shall be invited to make the appointments.
5. The Arbitral Tribunal arbitral tribunal shall reach its decision on the basis of this Agreement, the principles of international law by a majority of votesvote. Such decision shall be binding on the Parties.
6. The decisions of the Tribunal arbitral tribunal shall be final and binding on both Contracting Partiesdetermine its own procedure.
7. Each Contracting Party shall bear the costs cost of the member appointed by that Contracting Party its own arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share ; expenses of the Chairman and the remaining costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided borne in accordance with equal parts by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning regarding the interpretation and application of the provisions of this Agreement shall, as far as possible, shall be settled through diplomatic channels.
(2. ) If both Contracting Parties cannot reach an agreement within six months after the beginning of the dispute between themselves, the latter shall, upon the request of either Contracting Party, be submitted to an arbitration tribunal of three members. Each Contracting Party shall appoint one arbitrator and these two arbitrators shall nominate a chairman who shall be a national of a third State, which maintains diplomatic relations with both Contracting Parties.
(3) If one of the Contracting Parties has not appointed its arbitrator and has not followed the invitation of the other Contracting Party to make that appointment within two months, the arbitrator shall be appointed upon the request of that Contracting Party by the President of the International Court of Justice.
(4) If both arbitrators cannot thus reach an agreement about the choice of the chairman within two months after their appointment, the latter shall be settled within six (6) months following the date on which either Contracting Party requested such negotiations, it shall at appointed upon the request of either Contracting Party be submitted to an Arbitral Tribunalby the President of the International Court of Justice.
3. Such an Arbitral Tribunal shall be constituted for each individual case (5) If, in the following way. Within two cases specified under paragraphs (23) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four and (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make is prevented from carrying out the necessary appointments. If the President said function or if he is a national of either Contracting Party or is otherwise prevented from discharging the said functionParty, the Member appointment shall be made by the vice-president, and if the latter is prevented of if he is a national of either Contracting Party, the appointment shall be made by the most senior Judge of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
5. The Arbitral Tribunal shall (6) Subject to other provisions made by the Contracting Parties, the reach its decision decisions by a majority of votes. .
(7) The decisions of the Tribunal shall be tribunal are final and binding on both for each Contracting Parties. Party.
(8) Each Contracting Party shall bear the costs of its own member of the member appointed by that Contracting Party tribunal and of its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share of ; the costs of the Chairman, as well as any other costschairman and remaining costs shall be borne in equal parts by the Contracting Parties. The Tribunal may make tribunal may, however, decide that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of two Contracting Parties and this Article award shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international lawbinding on both Contracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within : within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Parties, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary neccesary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. and this award shall be binding on, and executed by, both Contracting Parties.
(6) The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. relating to the interpretation or application of this Agreement
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. In the absence of a settlement through diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties ; this commission shall convene without undue delay at the request of the first party to take action.
3. If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request o f either Contracting Party, to an arbitration court set up as follows for each individual case : Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice-President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of votes. The decisions of the Tribunal votes ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. relating to the interpretation or application of this Agreement
1. Disputes between the Contracting Parties concerning Any dispute relating to the interpretation and or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2. In the absence of a settlement through diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties ; this commission shall convene without undue delay at the request of the first party to take action.
3. If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case : Each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4arbitration court. If the necessary appointments these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice-President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54. The Arbitral Tribunal court thus constituted shall reach determine its decision own rules of procedure. Its decisions shall be taken by a majority of votes. The decisions of the Tribunal votes ; they shall be final and binding on both the Contracting Parties.
5. Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding court shall be borne equally by the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedureContracting Parties.
6. Issues subject The Agreement shall not apply to dispute referred disputes relating to in paragraph 1 the interpretation or application of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international lawagreement that have arisen before its entry into force.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shallshould, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within a period of six (6) months following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at may upon the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. ) Such an Arbitral Tribunal arbitral tribunal shall be constituted for each individual case in the following way. Within : within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of arbitrator for the Tribunaltribunal. Those two members arbitrators shall then select a national of a third State who on who, upon approval by the two Contracting Parties Party, shall be appointed Chairman of the Tribunaltribunal. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersarbitrators.
(4. ) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementagreement, invite the President of the International Court of Justice to make the any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the vice-president shall be invited to make the necessary appointments. If the vice- president is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is and not otherwise prevented from discharging the said function, such functions shall be invited to make the necessary appointments.
(5. ) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal Such decision shall be final and binding on both Contracting Parties. Each Contracting Party shall bear the costs cost of its own arbitrator to the member appointed by that Contracting Party tribunal and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share The cost of the Chairman and the remaining costs shall be borne equally by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the Chairmantwo Contracting Parties, as well as any other costs. The Tribunal may make a different decision regarding and this award shall be binding on, and executed by, both Contracting Parties.
(6) Apart from the sharing of the costs. In all other respectsabove, the Arbitral Tribunal tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international law.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning relating to the interpretation and or application of this Agreement
1) Any dispute relating to the interpretation or application of this Agreement shall, shall be settled as far as possible, be settled possible through diplomatic channels.
2) In the absence of a settlement through diplomatic channels, the dispute shall be submitted to a joint commission consisting of representatives of the two Parties. This commission shall convene without undue delay at the request of the first Party to take action.
3) If the dispute joint commission cannot thus settle the dispute, the latter shall be settled submitted, at the request of either Contracting Party, to an arbitration court set up as follows for each individual case : each Contracting Party shall appoint one arbitrator within six (6) a period of two months following from the date on which either Contracting Party requested such negotiations, it shall at has informed the request other Party of either Contracting Party be submitted its intention to an Arbitral Tribunal.
3. Such an Arbitral Tribunal shall be constituted for each individual case in submit the following waydispute to arbitration. Within a period of two (2) months of the receipt of the request for arbitrationfollowing their appointment, each Contracting Party these two arbitrators shall appoint one member of the Tribunal. Those two members shall then select by mutual agreement a national of a third State who on approval by the two Contracting Parties shall be appointed Chairman as chairman of the Tribunalarbitration court. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4. If the necessary appointments if these time limits have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other arrangement, invite shall request the President of the International Court of Justice to make the necessary appointmentsappointment(s). If if the President of the International Court of Justice is a national of either Contracting Party or is otherwise prevented from discharging of a State with which one of the said Contracting Parties has no diplomatic relations or if, for any other reason, he cannot exercise this function, the Member Vice-President of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited requested to make the necessary appointmentsappointment(s).
54) The Court thus constituted shall determine its own rules of procedure. The Arbitral Tribunal Its decisions shall reach its decision be taken by a majority of votes. The decisions of the Tribunal votes ; they shall be final and binding on both the Contracting Parties. .
5) Each Contracting Party shall bear the costs resulting from the appointment of its arbitrator. The expenses in connection with the appointment of the member appointed by that Contracting Party third arbitrator and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the administrative costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article court shall be decided in accordance with borne equally by the provisions of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Agreement
Disputes between the Contracting Parties. (1. ) Disputes between the Contracting Parties concerning the interpretation and application of this Agreement shallshall be settled, as far as possible, be settled through friendly consultations by both parties through diplomatic channels.
(2. ) If the dispute such disputes cannot thus be settled within six (6) months following the date on which either Contracting Party requested such negotiationsthrough consultations, it shall they shall, at the request of either Contracting Party Party, be submitted for settlement to an Arbitral Tribunalad hoc international arbitral panel (hereinafter called "the Panel").
(3. Such an Arbitral Tribunal ) The Panel mentioned above shall be constituted for each individual case in the following wayestablished as follows: The Panel is composed of three arbitrators. Within two (2) months of the after receipt through diplomatic channels of the request for arbitration, each Contracting Party shall appoint one member of arbitrator; the Tribunal. Those two members arbitrators shall then select propose by mutual agreement the third arbitrator who is a national of a third State who on which has diplomatic relations with both Contracting Parties, and the third arbitrator shall, upon approval by the two Contracting Parties shall Parties, be appointed as Chairman of the TribunalPanel. The Chairman shall be appointed within four (4) two months from the date of appointment of the other two membersmembers of the Panel.
(4. ) If the necessary appointments have of the members of the Panel are not been made within the periods specified in paragraph 3 (3) of this Article, either Contracting Party may, in the absence of any other arrangement, invite the President of the International Court of Justice to make the necessary appointmentsappointments within three months. If Should the President is be a national of either one Contracting Party or is otherwise prevented from discharging should he not be able to perform this designation because of other reasons, this task shall be entrusted to the said function, the Member Vice-President of the International Court, or to the next senior Judge of the Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
(5) The Panel shall determine its own procedure. The Arbitral Tribunal Panel shall reach decide its decision award by a majority of votes. The decisions of the Tribunal shall be Such award is final and binding on both upon the Contracting Parties. Unless otherwise agreed, the decision of the Panel shall be rendered within six months of the appointment of the Chairman in accordance with paragraphs (3) and (4) of this Article.
(6) Each Contracting Party shall bear the costs cost of its own member of the member appointed by that Contracting Party panel and of its representation in the arbitral proceedings. Both The costs of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties. The Panel may, however, in its decision direct that a higher proportion of costs shall be borne by one of the two Contracting Parties, and this award shall be binding on both Contracting Parties.
(7) Within 60 days after a decision is made by the Panel, the Contracting Parties shall assume agree on the manner in which to give effect to the decision which shall normally consist of implementation of such decision. If the Contracting Parties fail to reach an equal share of the costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing of the costs. In all other respectsagreement, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to Contracting Party bringing the dispute referred to in paragraph 1 of this Article shall be decided in accordance with entitled to compensation or to suspend benefits of equivalent value to those awarded by the provisions panel. Any dispute between the contracting parties relating to the interpretation or application of this Agreement and the generally recognised principles of international lawshall as far as possible be settled amicably through consultations through diplomatic channels.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and application of the provisions of this Agreement shall, as far as possible, shall be settled through by diplomatic channelsmeans.
2. If both Contracting Parties fail to reach an agreement within twelve months of the date of the dispute, the dispute cannot thus shall be settled within six (6) months following submitted to the date on which either Contracting Party requested such negotiations, it shall arbitral tribunal of three members at the request of either any Contracting Party. Each Contracting Party will designate one arbitrator, and the elected arbitrators shall nominate a chairman who will be submitted to an Arbitral Tribunala national of a non-Contracting Party with diplomatic relations with both Contracting Parties.
3. Such an Arbitral Tribunal shall be constituted for each individual case in the following way. Within two (2) months If one of the receipt of Contracting Parties fails to elect its arbitrator and does not join the request for arbitration, each other Contracting Party shall appoint one member of to make such a selection within two months, the Tribunal. Those two members shall then select a national of a third State who on approval by the two Contracting Parties arbitrator shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party may, in the absence of any other arrangement, invite by the President of the International Court of Justice to make at the necessary appointmentsrequest of that Contracting Party.
4. If both arbitrators can not reach an agreement on the choice of chairman within two months of the date of their appointment, they will be appointed by the President is a national of either Contracting Party or is otherwise prevented from discharging the said function, the Member of the International Court of Justice next at the request of either Contracting Party.
5. If, in seniority the cases referred to in paragraphs 3 and 4 of this Article, the President of the International Court of Justice can not fulfill the said function or if he is a national of one of the Contracting Parties, the Vice-President shall designate him or her, and if he can not fulfill that function or be a national of one of the Contracting Parties The President of the International Court of Justice can not fulfill this function, or if he or she is a national of one of the Contracting Parties, the appointment will be made by the Vice-Chairperson, and the appointments will be made by the Vice-President. If he can not fulfill this function or is a national of one of the Contracting Parties, the appointment will be made by the oldest senior judge of the Tribunal, who is not a national of either neither of the Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParties.
56. Without prejudice to other provisions between the Contracting Parties, the tribunal shall determine its procedure. The Arbitral Tribunal Court shall reach its decision rule by a majority of votes. The decisions of the Tribunal shall be final and binding on both Contracting Parties.
7. Each Contracting Party shall bear the costs of the member appointed by that Contracting Party its own arbitrator and of its representation participation in the arbitral arbitration proceedings; The costs of the chairman and the remaining costs shall equally cover the Contracting Parties. Both Contracting Parties shall assume an equal However, the Court may, in its ruling, establish a greater share of the costs of the Chairman, as well as any other costs. The Tribunal may make a different decision regarding the sharing one of the costs. In all other respects, the Arbitral Tribunal Contracting Parties and such a ruling shall determine its own rules of procedurebe binding on both Contracting Parties.
68. Issues subject to dispute referred to in paragraph 1 Judgments of this Article shall be decided in accordance with the provisions tribunal are final and binding on each of this Agreement and the generally recognised principles of international lawContracting Parties.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning regarding the interpretation and application of the provisions of this Agreement shall, as far as possible, shall be settled by consultation and negotiation through diplomatic channels.
2. If Contracting Parties cannot reach an agreement on disputable issues within six months after the beginning of the dispute cannot thus be settled within six (6) months following between themselves, the date on which either Contracting Party requested such negotiationslatter shall, it shall at the upon request of either Contracting Party Party, be submitted to an Arbitral Tribunal.
3. Such an Arbitral Tribunal arbitration tribunal which shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitration, each as follows: Each Contracting Party shall appoint one member of the Tribunal. Those an arbitrator and these two members arbitrators shall then select nominate a chairman who shall be a national of a third State who on approval by State, which maintains diplomatic relations with both Contracting Parties.
3. If one of the two Contracting Parties has not appointed its arbitrator and has not followed the invitation of the other Contracting Party to make that appointment within two months, the arbitrator shall be appointed Chairman of the Tribunal. The Chairman shall be appointed within four (4) months from the date of appointment of the other two members.
4. If the necessary appointments have not been made within the periods specified in paragraph 3 of this Article, either Contracting Party may, in the absence of any other arrangement, invite by the President of the International Court of Justice to make upon the necessary appointmentsrequest of the Contracting Party which appointed its arbitrator.
4. If appointed arbitrators cannot reach an agreement about the choice of the chairman within two months after their appointment, the latter 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 is prevented from carrying out the said function, or if he is a national of either Contracting Party or is otherwise prevented from discharging the said functionParty, the Member appointment shall be made by the Vice-President, and if the latter is prevented or if he is national of either Contracting Party, the appointment shall be made by the most senior Judge of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointmentsParty.
56. Subject to other provisions made by the Contracting Parties, the tribunal shall determine its procedure. The Arbitral Tribunal tribunal shall reach its decision decisions by a majority of votes.
7. The decisions of the Tribunal shall be tribunal are final and binding on both for each Contracting PartiesParty.
8. Each Contracting Party shall bear its own costs related to the costs of the member appointed by that Contracting Party participation and of its representation in the arbitral proceedings. Both Contracting Parties shall assume an equal share of the The costs of the Chairman, as well as any other costschairman and remaining costs shall be borne in equal parts by the Contracting Parties. The Tribunal tribunal may make decide that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costs. In all other respects, the Arbitral Tribunal shall determine its own rules of procedure.
6. Issues subject to dispute referred to in paragraph 1 of Contracting Parties and this Article award shall be decided in accordance with the provisions of this Agreement and the generally recognised principles of international lawbinding on both Contracting Parties.
Appears in 1 contract
Samples: Agreement on the Promotion and Reciprocal Protection of Investments
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties concerning the interpretation and or application of this Agreement shall, as far as if possible, be settled through diplomatic channelsby negotiations between the Governments of the two Contracting Parties.
(2. ) If the dispute cannot thus be settled within six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsParty, it shall at the request of either Contracting Party be submitted to an Arbitral Tribunalarbitral tribunal.
(3. Such an Arbitral Tribunal ) The arbitral tribunal shall be constituted for each individual set up from case in the following way. Within two (2) months of the receipt of the request for arbitrationto case, each Contracting Party shall appoint appointing one member of the Tribunalmember. Those These two members shall then select agree upon a national of a third State who on approval as their chairman, to be appointed by the Governments of the two Contracting Parties shall be appointed Chairman of the TribunalParties. The Chairman members shall be appointed within two months, and the chairman within four months, from the date either Contracting Party, has advised the other Contracting Party of its wish to submit the dispute to an arbitral tribunal.
(4) months from the date of appointment of the other two members.
4. If the necessary appointments time limits referred to in paragraph (3) of this Article have not been made within the periods specified in paragraph 3 of this Articlecomplied with, either Contracting Party may, in the absence of any other relevant arrangement, 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 either Contracting Party or Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is otherwise prevented from discharging the said functionfunction or is a national of either Contracting Party, the Member most senior member of the International Court of Justice next in seniority who is not incapacitated or a national of either Contracting Party or is not otherwise prevented from discharging the said function, shall be invited to make the necessary appointments.
5. (6) The Arbitral Tribunal arbitral tribunal shall decide disputes on the basis of the provisions of this Agreement and applicable rules and principles of international law.
(7) The arbitral tribunal shall reach its decision by a majority of votes. The decisions of , the Tribunal shall be decision being final and binding on both the Contracting Parties. Each Contracting Party shall bear the costs cost of the member appointed by that Contracting Party and of as well as the costs for its representation in the arbitral arbitration proceedings. Both Contracting Parties shall assume an equal share ; the cost of the costs of the Chairman, chairman as well as any other costscosts shall be borne in equal parts by the two Contracting Parties. The Tribunal may make arbitral tribunal may, however, in its decision direct that a different decision regarding the sharing higher proportion of costs shall be borne by one of the costsContracting Parties. In all other respects, the Arbitral Tribunal procedure of the arbitration tribunal shall determine its own rules of procedurebe determined by the tribunal itself.
6(8) A Contracting Party, party to the dispute, shall not initiate proceedings under this Article for a dispute regarding the infringement of rights of an investor which that investor has submitted or has agreed to submit to proceedings under Chapter II, Section I, unless the Contracting Party, party to the dispute, has failed to abide by or comply with an award rendered by such a tribunal. Issues subject The requesting Contracting Party may seek in such proceedings:
(a) a determination that the failure to dispute referred to in paragraph 1 abide by or comply with the final award is inconsistent with the obligations of this Article shall be decided in accordance Agreement; and
(b) a recommendation that the Party abide by or comply with the provisions of this Agreement and the generally recognised principles of international lawfinal award.
Appears in 1 contract
Samples: Investment Protection Agreement
Disputes between the Contracting Parties. (1. Disputes ) Any dispute between the Contracting Parties contracting parties concerning the interpretation and or application of this Agreement shallagreement should, as far as if possible, be settled through diplomatic channelsnegotiations between the Governments of the two contracting parties.
(2. ) If the dispute cannot thus be settled within six (6) months months, following the date on which such negotiations were requested by either Contracting Party requested such negotiationsshall, it shall at the request of either Contracting Party Party, be submitted to an Arbitral Tribunalarbitral tribunal.
(3. Such an Arbitral Tribunal ) The arbitral tribunal shall be constituted for each individual case in the following way. Within two (2) months of the receipt of the request for arbitrationby case, each Contracting Party shall appoint one member of the Tribunalmember. Those these two members shall then agree to select a national of a third State as their Chairman who on approval by the two Contracting Parties shall be appointed Chairman by the Governments of the Tribunaltwo contracting parties. The Chairman the members shall be appointed within two months and the Chairman within four (4) months from the date of appointment of on which either contracting party notifies the other two memberscontracting party of its wish to submit the dispute to an arbitral tribunal.
(4. ) If within the necessary appointments time limits referred to in paragraph (3) of this article have not been made within the periods specified in paragraph 3 of this Articlemade, either Contracting Party may, in the absence of any other arrangementrelevant settlement, 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 referred to in paragraph (4) of this article or is a national of either Contracting Party or is otherwise prevented from discharging the said functionParty, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said function, Vice-President shall be invited to make the necessary appointments. if the Vice-President is prevented from discharging the said function or is a national of either Contracting Party shall be invited to the most senior member of the Court who is incapacitated or not is not a national of either Contracting Party, to make the necessary appointments.
5. (6) The Arbitral Tribunal arbitral tribunal shall reach its decision by a majority of votes. The decisions of the Tribunal votes and that decision shall be final and binding on both Contracting Partiesthe contracting parties. Each each Contracting Party shall bear the costs cost of the member appointed by that Contracting Party and of as well as the costs for its representation in the arbitration proceedings; the cost of the Chairman and any other costs shall be divided equally between the two contracting parties. however, the arbitral proceedings. Both Contracting Parties shall assume an equal share tribunal may decide that a higher proportion of the costs charged to be one of the Chairman, as well as any other costsContracting Parties. The Tribunal may make a different decision regarding the sharing of the costs. In in all other respects, the Arbitral Tribunal shall determine its own rules procedure of procedure.
6. Issues subject to dispute referred to in paragraph 1 of this Article the arbitral tribunal shall be decided in accordance with determined by the provisions of this Agreement and the generally recognised principles of international lawCouncil.
Appears in 1 contract
Samples: Investment Agreement