Common use of Most-favoured Clause in Contracts

Most-favoured. nation (mfn) treatment after establishment and exceptions to mfn 1. Each Contracting Party shall accord to investments, or returns of investors of the other Contracting Party, treatment no less favourable than that which it accords to investments or returns of investors in its own territory or to investments or returns of investors of any third State, except otherwise provided for in its legislation. 2. Each Contracting Party shall accord to investors of the other Contracting Party, as regards their management, maintenance, use, enjoyment or disposal of their investments or returns, treatment no less favourable than that which it accords its own investors or investors of any third State. 3. The treatments in paragraphs 1 and 2 of this Article shall not extend to privileges which either Contracting Party accords to investors of third States by virtue of membership in, or pursuant to any bilateral or multilateral agreement in force or signed prior to the date or after the date of entry into force of this Agreement.