Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and application of this Agreement should be settled through diplomatic channels. 2. If the dispute cannot thus be settled within six months from the beginning of the negotiations, it shall upon the request of either Contracting Party be submitted to an arbitral tribunal. 3. The arbitral tribunal shall be constituted as follows: Each Contracting Party shall appoint one arbitrator and these two arbitrators shall agree upon a national of a third State as Chairman. The arbitrators shall be appointed within three months and the Chairman within five months from the date on which either Contracting Party has informed the other Contracting Party that it intends to submit the dispute to an arbitral tribunal. 4. If within the periods specified in paragraph 3 of this Article the necessary appointments have not been made, any Party to the dispute 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 of the Court is a national of any Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any Party or is otherwise prevented from discharging the said function, the Member of the Court next in seniority who is not a national of any Party to the dispute, shall be invited to make the necessary appointments.paragraph 3 of this Article the necessary appointments have not been made, any Party to the dispute 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 of the Court is a national of any Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any Party or is otherwise prevented from discharging the said function, the Member of the Court next in seniority who is not a national of any Party to the dispute, shall be invited to make the necessary appointments. 5. The arbitral tribunal shall decide on the basis of respect for the law, including particularly the present Agreement and other relevant argreements existing between the two Contracting Parties and the universally acknowledged rules and principles of international law. 6. Unless the Parties decide otherwise, the tribunal shall determine its own procedure. 7. The tribunal shall reach its decision by a majority of votes. Such decision shall be final and binding on the Parties. 8. Each Contracting Party shall bear the cost of the arbitrator appointed by itself and of its representation. The cost of the Chairman as well as the other costs will be borne in equal parts by the Contracting Parties.
Appears in 4 contracts
Samples: Investment Promotion and Protection Agreement, Investment Promotion and 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 should shall, whenever possible, be settled amicably through consultations.
(2) If a dispute cannot be settled through diplomatic channels.
2. If the dispute cannot thus be settled within six months from the beginning of the negotiationsconsultations, it shall upon shall, at the request of either Contracting Party Party, be submitted to an arbitral tribunaltribunal for decision.
(3. The ) An arbitral tribunal shall be constituted as follows: Each for each dispute. Within two months after receipt through diplomatic channels of the request for arbitration, each Contracting Party shall appoint one arbitrator and these member to the arbitral tribunal. The two arbitrators members shall agree upon then select a national of a third State as Chairmanwho, upon approval by the two Contracting Parties, shall be appointed Chairman of the arbitral tribunal. The arbitrators Chairman shall be appointed within three months and the Chairman within five two months from the date on which either Contracting Party has informed of appointment of the other Contracting Party that it intends to submit two members of the dispute to an arbitral tribunal.
(4. ) If within the periods specified in paragraph 3 (3) of this Article the necessary appointments have not been made, any either Contracting Party to the dispute 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 of the Court is a national of any Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any 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 any Party to the disputeeither Contracting Party, shall be invited to make the necessary appointments.paragraph 3 (3) of this Article the necessary appointments have not been made, any either Contracting Party to the dispute 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 of the Court is a national of any Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any 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 any Party to the disputeeither Contracting Party, shall be invited to make the necessary appointments.
(5. ) The arbitral tribunal shall decide on the basis of respect for the law, including particularly the present Agreement and other relevant argreements existing between the two Contracting Parties and the universally acknowledged rules and principles of international law.
6. Unless the Parties decide otherwise, the tribunal shall determine its own procedure.
7. The arbitral tribunal shall reach its decision by a majority of votes. Such decision shall be final and binding on both Contracting Parties. Unless otherwise agreed, the Partiesdecision of the tribunal panel 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.
8. (6) Each Contracting Party shall bear the cost costs of its own member of the arbitrator appointed by itself tribunal and of its representation. The cost of representation in the arbitral proceedings; the costs related to the Chairman as well as the other and any remaining costs will shall be borne in equal parts equally by the Contracting Parties. The arbitral tribunal 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, within 60 days of the decision of a tribunal, reach agreement on the manner in which to resolve their dispute. Such agreement shall normally implement the decision of the tribunal. Such agreement shall also be considered part of the arbitral tribunal's decision. If the Contracting Parties fail to reach agreement, the Contracting Party bringing the dispute shall be entitled to compensation or to suspend benefits of equivalent value to those awarded by the panel.
Appears in 2 contracts
Samples: Investment Agreement, Investment Protection Agreement
Disputes between the Contracting Parties. 1. Disputes between the Contracting Parties concerning the interpretation and application of this Agreement should be settled through diplomatic channels.
2. If the dispute cannot thus be settled within six months from the beginning of the negotiations, it shall upon the request of either Contracting Party be submitted to an arbitral tribunal.
3. The arbitral tribunal shall be constituted as follows: Each Contracting Party shall appoint one arbitrator and these two arbitrators shall agree upon a national of a third State as Chairman. The arbitrators shall be appointed within three months and the Chairman within five months from the date on which either Contracting Party has informed the other Contracting Party that it intends to submit the dispute to an arbitral tribunal.
4. If within the periods period specified in paragraph 3 of this Article the necessary appointments have not been made, any Party party to the dispute 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 president of the Court is a national of any Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any Party or is otherwise prevented from discharging the said function, the Member of the Court next in seniority who is not a national of any Party to the dispute, shall be invited to make the necessary appointments.paragraph 3 of this Article the necessary appointments have not been made, any Party party to the dispute 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 of the Court is a national of any Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any Party or is otherwise prevented from discharging the said function, the Member of the Court next in seniority who is not a national of any Party to the dispute, shall be invited to make the necessary appointments.
5. The arbitral tribunal shall decide on the basis of respect for the law, including particularly the present Agreement and other relevant argreements agreements existing between the two Contracting Parties and the universally acknowledged rules and principles of international law.
6. Unless the Parties decide otherwise, the tribunal shall determine its own procedure.
7. The tribunal shall reach its decision by a majority of votes. Such decision shall be final and binding on the Parties.
8. Each Contracting Party shall bear the cost of the arbitrator appointed by itself and of its representation. The cost of the Chairman as well as the other costs will be borne in equal parts by the Contracting Parties.
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 should shall be settled through diplomatic channels.
(2. ) If the dispute both Contracting Parties cannot thus be settled reach an agreement within six months from after the beginning of the negotiationsdispute between themselves, it shall the latter shall, upon the request of either Contracting Party Party, be submitted to an arbitral tribunal.
3tribunal of three members. The arbitral tribunal shall be constituted as follows: Each Contracting Party shall shall, within two months of the written request to submit the dispute to arbitration, appoint one arbitrator arbitrator, and these two arbitrators shall, within two months of their appointment, nominate a chairman who shall agree upon be a national of a third State as Chairman. The arbitrators shall be appointed within three months and that has diplomatic relations with the Chairman within five months from the date on which either Contracting Party has informed the other Contracting Party that it intends to submit the dispute to an arbitral tribunalParties.
4. (3) If within the periods specified in paragraph 3 of this Article the necessary appointments (2) above have not been madeobserved, any either Contracting Party to the dispute may, in the absence of any other agreementarrangement, invite the President of the International Court of Justice to make the necessary appointments. If the President of the Court is a national of any either Contracting Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he shall be invited to make the necessary appointments. If the Vice-President is a national of any either Contracting Party or if he, too, is otherwise prevented from discharging the said function, the Member member of the Court court next in seniority who is not a national of any either Contracting Party to the dispute, shall be invited to make the necessary appointments.paragraph 3 of this Article the necessary appointments (2) above have not been madeobserved, any either Contracting Party to the dispute may, in the absence of any other agreementarrangement, invite the President of the International Court of Justice to make the necessary appointments. If the President of the Court is a national of any either Contracting Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he shall be invited to make the necessary appointments. If the Vice-President is a national of any either Contracting Party or if he, too, is otherwise prevented from discharging the said function, the Member member of the Court court next in seniority who is not a national of any either Contracting Party to the dispute, shall be invited to make the necessary appointments.
5. (4) The arbitral tribunal shall decide on the basis of respect for the law, including particularly the present Agreement and other relevant argreements existing between the two Contracting Parties and the universally acknowledged rules and principles of international law.
6. Unless the Parties decide otherwise, the tribunal shall determine its own procedure.
7. The tribunal shall reach its decision by a majority of votes. Such decision shall be final and binding on the Parties.
8binding. Each Contracting Party shall bear the cost of the its arbitrator appointed by itself and of its representation. The cost representation in the arbitral proceedings; the costs of the Chairman as well as chairman and the other remaining costs will shall be borne in equal parts by the Contracting Parties. The arbitral tribunal may make a different ruling concerning costs. In all other respects, the arbitral tribunal shall determine its own procedure.
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 should shall, whenever possible, be settled amicably through consultations.
(2) If a dispute cannot be settled through diplomatic channels.
2. If the dispute cannot thus be settled within six months from the beginning of the negotiationsconsultations, it shall upon shall, at the request of either Contracting Party Party, be submitted to an arbitral tribunalpanel for decision.
(3. The ) An arbitral tribunal panel shall be constituted as follows: Each for each dispute. Within two months after receipt through diplomatic channels of the request for arbitration, each Contracting Party shall appoint one arbitrator and these member to the arbitral panel. The two arbitrators members shall agree upon then select a national of a third State as Chairmanwho, upon approval by the two Contracting Parties, shall be appointed Chairman of the arbitral panel. The arbitrators Chairman shall be appointed within three months and the Chairman within five two months from the date on which either Contracting Party has informed of appointment of the other Contracting Party that it intends to submit two members of the dispute to an arbitral tribunalpanel.
(4. ) If within the periods specified in paragraph 3 (3) of this Article the necessary appointments have not been made, any either Contracting Party to the dispute 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 of the Court is a national of any Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any 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 any Party to the disputeeither Contracting Party, shall be invited to make the necessary appointments.paragraph 3 (3) of this Article the necessary appointments have not been made, any either Contracting Party to the dispute 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 of the Court is a national of any Party to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any 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 any Party to the disputeeither Contracting Party, shall be invited to make the necessary appointments.
(5. ) The arbitral tribunal shall decide on the basis of respect for the law, including particularly the present Agreement and other relevant argreements existing between the two Contracting Parties and the universally acknowledged rules and principles of international law.
6. Unless the Parties decide otherwise, the tribunal panel shall determine its own procedure.
7. The tribunal arbitral panel shall reach its decision by a majority of votes. Such decision shall be final and binding on both Contracting Parties. Unless otherwise agreed, the Partiesdecision of the arbitral panel shall be rendered within six months of the appointment of the Chairman in accordance with paragraph (3) or (4) of this Article.paragraph (3) or (4) of this Article.
8. (6) Each Contracting Party shall bear the cost costs of its own member of the arbitrator appointed by itself panel and of its representation. The cost of representation in the arbitral proceedings; the costs related to the Chairman as well as the other and any remaining costs will shall be borne in equal parts equally by the Contracting Parties. 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, within 60 days of the decision of a panel, reach agreement on the manner in which to resolve their dispute. Such agreement shall normally implement the decision of the panel. If the Contracting Parties fail to reach agreement, the Contracting Party in whose favour the decision was made shall be entitled to compensation or to suspend benefits of equivalent value to those awarded by the panel.
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 should shall, if possible, be settled through diplomatic channels.
2. If the dispute cannot thus be settled within six months from the beginning of the negotiations, it shall shall, upon the request of either Contracting Party Party, be submitted to an arbitral arbitration tribunal.
3. The arbitral arbitration tribunal shall be constituted ad hoc as follows: Each Contracting Party shall appoint one arbitrator and these two arbitrators shall agree upon a national of a third State as Chairmanchairman. The arbitrators shall be appointed within three months and months, the Chairman chairman within five months from the date on which either Contracting Party has informed the other Contracting Party that it intends to submit the dispute to an arbitral arbiration tribunal.
4. If one of the Parties fails to appoint its arbitrator and has not proceeded to do so within the periods specified in paragraph 3 of this Article period, the necessary appointments have not been made, any other Party to the dispute may, in the absence of any other agreement, may invite the President of the International Court of Justice to make the necessary appointments. If the President of the Court is a national of any Party two arbitrators are unable to the dispute or if he is otherwise prevented from discharging the said function, the Vice-President or if he is a national of any Party or is otherwise prevented from discharging the said function, the Member of the Court next in seniority who is not a national of any Party to the dispute, shall be invited to make the necessary appointments.paragraph 3 of this Article the necessary appointments have not been made, any Party to the dispute mayreach an agreement, in the absence specified period, on the choice of any other agreementthe third arbitrator, either Party may invite the President president of the International Court of Justice to make the necessary appointments.
5. If If, in the cases provided for in the fourth paragraph of the present Article, the President of the International Court of Justice is a national of any Party to the dispute or if he is otherwise prevented from discharging the said functionfunction or is a national of either Contracting Party, the Vice-President or if he shall be invited to make the necessary appointments. If the Vice-President is a national of any Party or is otherwise prevented from discharging the said function, function or is a national of either Party the Member most senior member of the Court next in seniority available who is not a national of any either party shall be invited to make the necessary appointments.fourth paragraph of the present Article, the President of the International Court of Justice is prevented from discharging the said function or is a national of either Contracting Party, the 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 Party to the dispute, most senior member of the Court available who is not a national of either party shall be invited to make the necessary appointments.
56. The arbitral arbitration tribunal shall decide on the basis of respect for the international law, including particularly the present Agreement and other relevant argreements agreements existing between the two Contracting Parties and the universally acknowledged generally ackowledged rules and principles of international law.
67. Unless the Parties decide otherwise, the tribunal shall determine its own procedure.
78. The tribunal shall reach its decision by a majority of votes. Such decision shall be final and binding on the Parties.
89. Each Contracting Party shall bear the cost of the arbitrator appointed by itself and of its representation. The cost of the Chairman chairman as well as the other costs will be borne born in equal parts by the Contracting Parties.
Appears in 1 contract
Samples: Investment Protection Agreement