Common use of Investment treatment Clause in Contracts

Investment treatment. 1. Each Contracting Party shall grant in its territory to investments of investors of the other Contracting Party a treatment which is no less favourable than that it grants to investments of its own investors or to investments of investors of any other State, whichever is more favourable to the investor. 2. Each Contracting Party shall grant in its territory to investors of the other Contracting Party, concerning the operation, management, maintenance, use, usufruct or disposal of its investments, a treatment which is no less favourable than that granted to its own investors or to investors of any third State, whichever is more favourable to the investor. 3. Notwithstanding the provisions of Paragraph (1) and (2) of this Article, a Contracting Party which has concluded or may conclude an agreement regarding the formation of a custom union, a common market or a free-trade area shall be free to grant, by virtue of such agreements, more favourable treatment to investments by investors of the State or States which are also parties to the aforesaid agreements, or by investors of some of these States. 4. The provisions of Paragraph (1) and (2) of this Article shall not be construed so as to oblige one Contracting Party to extend to investors of the other Contracting Party the benefit of any treatment, preference or privilege resulting from any international agreement or arrangement relating wholly or mainly to taxation or any domestic legislation relating wholly or mainly to taxation.