Common use of Investor-state Dispute Settlement Clause in Contracts

Investor-state Dispute Settlement. 1. Any dispute between an investor of one Party and the other Party in connection with an investment in the territory of the other Party shall, as far as possible, be settled amicably through negotiations between the parties to the dispute. 2. If the dispute cannot be settled through negotiations within 6 months from the date on which the disputing investor requested for the consultation or negotiation in writing, and if the disputing investor has not submitted the dispute for resolution to the competent court (16) or any other binding dispute settlement mechanism (17) of the Party receiving the investment, it may be submitted to one of the following international conciliation or arbitration fora by the choice of the investor (18): (a) conciliation or arbitration in accordance with the International Center for Settlement of Investment Disputes (ICSID), under the Convention on the Settlement of Disputes between States and Nationals of Other States, done at Washington on March 18th, 1965; (b) conciliation or arbitration under the Additional Facility Rules of the International Centre for Settlement of Investment Disputes so long as the ICSID Convention is not in force between the Parties; (c) arbitration under the arbitration Rules of the United Nations Comission on International Trade Law; and (d) if agreed with the disputing Party, any arbitration in accordance with other arbitration rules. For more clarity, the election of one dispute settlement fora shall be definitive and exclusive. 3. An arbitral tribunal established under paragraph 2 shall decide the issues in dispute in accordance with this Agreement and applicable rules of international law. 4. The disputing investor who intends to submit the dispute to conciliation or arbitration pursuant to paragraph 2 shall give to the disputing Party written notice of its intent to do so at least 90 days before the claim is submitted. The notice of intent shall specify: (a) the name and address of the disputing investor; (b) the specific measures of the disputing Party at issue and a brief summary of the factual and legal basis of the investment dispute sufficient to present the problem clearly, including the obligations under this Chapter alleged to have been breached; (c) the waiver of the disputing investor from the right to initiate any proceedings before any of the other dispute settlement for referred to in paragraph 2 in relation to the matter under dispute; (d) conciliation or arbitration set forth in paragraph 2 which the disputing investor will choose; and (e) the relief sought and the approximate amount of expropriation claimed. 5. Notwithstanding paragraph 4, no claim may be submitted to conciliation or arbitration set forth in paragraph 2, if more than 3 years have elapsed since the date on which the disputing investor became aware, or should reasonably have become aware, of a breach of an obligation under this Chapter causing loss or damage to the disputing investor or its investment referred to in paragraph 1. 6. The arbitration award shall be final and binding upon both parties to the dispute. Both Parties shall commit themselves to the enforcement of the award. 7. Where a tribunal makes a final award against a respondent, the tribunal may award, separately or in combination, only: (a) monetary damages and any applicable interest; and (b) restitution of property, in which case the award shall provide that the respondent may pay monetary damages and any applicable interest in lieu of restitution. A tribunal may also award costs and attorney's fees in accordance with the applicable arbitration rules. 8. Any disputing investor shall serve notices and other documents on disputes under this Article: (a) for China, to the: Ministry of Commerce 0, Xxxx Xxxxx Xx Avenue 100731, Beijing, People's Republic of China;

Investor-state Dispute Settlement. 1. Any dispute This Article shall apply to disputes between a Party and an investor of one Party and the other Party in connection with an investment in the territory of the other Party shall, as far as possible, be settled amicably through negotiations between concerning an alleged breach of an obligation of a Party under this Chapter which results in loss or damage to the investor or its investment by reason of that breach. 2. The parties to the disputedispute shall initially seek to resolve the dispute by consultations and negotiations. 23. If Where the dispute cannot be settled through negotiations resolved as provided for under paragraph 2 within 6 months from the date on which of a request for consultations and negotiations, then, and unless the disputing investor requested for and the consultation disputing Party agree otherwise or negotiation in writing, and if the disputing investor has not already submitted the dispute for resolution before the courts or administrative tribunals of the disputing Party (excluding proceedings for interim measures of protection referred to the competent court (16in paragraph 5 of this Article) or to any other binding dispute settlement mechanism (17) of procedures, the Party receiving disputing investor may submit the investment, it may be submitted dispute for settlement to one of the following international conciliation or arbitration fora by the choice of the investor (18): 28 : (a) conciliation or arbitration in accordance with the International Center for Settlement of Investment Disputes (ICSID), under the Convention on the Settlement of Disputes between States and Nationals of Other States, done at Washington on March 18th, 1965; (b) conciliation or arbitration under the Additional Facility Rules of the International Centre for Settlement of Investment Disputes so long as (ICSID) for conciliation or arbitration pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention), if both Parties are parties to the ICSID Convention is not in force between Convention; (b) the Additional Facility Rules of ICSID for conciliation or arbitration, provided that one of the Parties, but not both, is a party to the ICSID Convention; or (c) arbitration under the arbitration Rules rules of the United Nations Comission Commission on International Trade Law; Law (UNCITRAL). The conciliation or arbitration rules applicable under subparagraphs (a), (b) and (dc), and in effect on the date the dispute is submitted to conciliation or arbitration under this Article, shall govern the conciliation or arbitration except to the extent modified by this Article. 4. Each Party hereby consents to the submission of a dispute to conciliation or arbitration under subparagraphs 3 (a), (b) if agreed with the disputing Party, any arbitration and (c) in accordance with the provisions of this Article, conditional upon: 28 For greater certainty, if a disputing investor elects to submit a dispute of the type described in paragraph 1 of this Article to the courts or administrative tribunals of the disputing Party or to any other arbitration rules. For more clarity, the election of one dispute settlement fora procedures, that election shall be definitive definitive, and exclusive. 3. An arbitral tribunal established under paragraph 2 shall decide the issues in dispute in accordance with this Agreement and applicable rules of international law. 4. The disputing investor who intends to may not thereafter submit the dispute to conciliation or arbitration pursuant to paragraph 2 shall give to the disputing Party written notice of its intent to do so at least 90 days before the claim is submittedunder this Article. The notice of intent shall specify: (a) the name and address submission of the disputing investor; (b) the specific measures of the disputing Party at issue and a brief summary of the factual and legal basis of the investment dispute sufficient to present the problem clearly, including the obligations under this Chapter alleged to have been breached; (c) the waiver of the disputing investor from the right to initiate any proceedings before any of the other dispute settlement for referred to in paragraph 2 in relation to the matter under dispute; (d) such conciliation or arbitration set forth in paragraph 2 which the disputing investor will choose; and (e) the relief sought and the approximate amount of expropriation claimed. 5. Notwithstanding paragraph 4, no claim may be submitted to conciliation or arbitration set forth in paragraph 2, if more than taking place within 3 years have elapsed since of the date on time at which the disputing investor became aware, or should reasonably have become aware, of a breach of an obligation under this Chapter causing resulting in loss or damage to the disputing investor or its investment by reason of that breach; and (b) the disputing investor providing written notice to the disputing Party of its intent to submit the dispute to such conciliation or arbitration, at least 30 days before the dispute is submitted, and which: i. states the name and address of the disputing investor and, where a dispute is submitted on behalf of an enterprise, the name, address, and place of constitution of the enterprise; ii. nominates either subparagraphs 3(a), (b) or (c) of this Article as the procedure for dispute settlement (and, in the case of ICSID, nominates whether conciliation or arbitration is being sought); iii. waives its right to initiate or continue any proceedings before the courts or administrative tribunals of the disputing Party (excluding proceedings for interim measures of protection referred to in paragraph 15 of this Article) or to any other dispute settlement procedures or other dispute settlement fora referred to in paragraph 3 in relation to the matter under dispute; and iv. briefly summarizes the alleged breach of the disputing Party under this Chapter (including the Articles alleged to have been breached), the legal and factual basis for the dispute, and the loss or damage allegedly caused to the disputing investor or its investment by reason of that breach. 5. Neither Party shall prevent the disputing investor from seeking interim measures of protection under the laws of the disputing Party, not involving the payment of damages or resolution of the substance of the matter in dispute before the courts or administrative tribunals of the disputing Party for the preservation of its rights and interests. 6. Neither Party shall give diplomatic protection, or bring an international claim, in respect of a dispute which one of its investors and the other Party shall have consented to submit or have submitted to conciliation or arbitration under this Article, unless such other Party has failed to abide by and comply with the award rendered in such dispute. Diplomatic protection, for purposes of this paragraph, shall not include informal diplomatic exchanges for the sole purpose of facilitating a settlement of the dispute. 7. The arbitration arbitral awards shall be based on the provisions of this Agreement, the laws of the disputing Party, including its rules on the conflict of laws, and the applicable rules of international law. The arbitral award shall be final and binding upon both parties to and each Party shall ensure the dispute. Both Parties shall commit themselves to the recognition and enforcement of the award. 7. Where a tribunal makes a final arbitral award against a respondent, the tribunal may award, separately or in combination, only: (a) monetary damages and any applicable interest; and (b) restitution of property, in which case the award shall provide that the respondent may pay monetary damages and any applicable interest in lieu of restitution. A tribunal may also award costs and attorney's fees in accordance with the applicable arbitration rules. 8. Any disputing investor shall serve notices and other documents on disputes under this Article: (a) for China, to the: Ministry of Commerce 0, Xxxx Xxxxx Xx Avenue 100731, Beijing, People's Republic of China;its laws.