Common use of Investment disputes Clause in Contracts

Investment disputes. 1. Any dispute between an investor of one Contracting Party and the other Contracting Party in connection with an investment in the territory of the other Contracting Party shall, as far as possible, be settled amicably through negotiations between the parties to the dispute. The party intending to resolve such dispute through negotiations shall give written notice to the other of its intention. 2. If the dispute cannot be thus resolved as provided in paragraph 1 of this Article, within 6 months from the date of the notice given thereunder by either party to the dispute, then, unless the parties have otherwise agreed, it shall, upon the request of either party to the dispute: (a) Be submitted to conciliation or arbitration by the International Centre for Settlement of Investment Disputes (called "the Centre" in this Agreement) established by the Convention on the Settlement of Investment Disputes between the States and Nationals of Other States opened for signature at Washington on 18 March, 1965 (called "the Convention" in this Agreement). For this purpose, each Contracting Party hereby irrevocably consents in advance under Article 25 of the Convention to submit any dispute to the Centre; or (b) Be referred to either conciliation in accordance with the United Nations Commission on International Trade Law Rules of Conciliation, 1980 or to arbitration in accordance with the United Nations Commission, on International Trade Law Rules on Arbitration, 1976.

Investment disputes. 1. Any dispute between an investor a national or company of one Contracting Party and the other Contracting Party in connection with an investment in the territory of the other Contracting Party party shall, as far as possible, be settled amicably through negotiations between the parties to the dispute. The party intending to resolve such dispute through negotiations shall give written notice to the other of its intention. 2. If the any dispute cannot be thus resolved as provided in paragraph 1 of this Article, Article within 6 six months from the date of the notice given thereunder by either party to the dispute, then, unless the parties have otherwise agreed, it shall, upon the request of either party to the dispute:, be submitted either (a) Be submitted to To conciliation or arbitration by the International Centre for Settlement of Investment Disputes (called the "the Centre" ") in this Agreement) established by the Convention on the Settlement of Investment Disputes between the States and Nationals of Other other States opened for signature at Washington on 18 March, 1965 (called the "the Convention" in this Agreement). For this purpose, each Contracting Party hereby irrevocably consents in advance under Article 25 of the Convention to submit any dispute to the Centre; or (b) Be referred to either conciliation in accordance with An arbitrator of international ad hoc arbitral tribunal established under the Arbitration Rules of the United Nations Commission on International Trade Law Rules of Conciliation, 1980 or (UNCITRAL). The Parties to arbitration the dispute may agree in accordance with writing to modify these Rules. The arbitral award shall be final and binding on both Parties to the United Nations Commission, on International Trade Law Rules on Arbitration, 1976dispute.