Role and functions of a parties group Sample Clauses

Role and functions of a parties group. The primary role of a Parties Group would be to avoid disputes through the promotion of a reasonable and consistent interpretation of the MAI. It would also serve as a forum for discussing general problems or questions. The Parties Group could consider any question relating to the interpretation or application of the MAI, while avoiding factual disputes concerning a particular investment. The fact that a question submitted to the Parties Group for consideration is at issue in a particular dispute would be without prejudice to the right of a Party to the dispute to have recourse to dispute settlement. At the request of any Party to a dispute or of the Party of an investor party to a dispute, the Parties Group would not address the disputed question while it was pending settlement under any of the other procedures provided for in the MAI. The Parties Group could issue clarifications of any MAI provisions. Clarifications would be limited to abstract explanation of the meaning of the agreement's provisions without reference to any specific case that might be the subject of dispute. Clarifications would not be given any automatic or special binding legal effect, but would have the normal effect that resulted under customary international law, in particular the law of treaties. They would not legally affect private Party rights which had already been acquired in a final and binding settlement of a dispute. The Parties Group would not adjudicate specific disputes or appeals from awards. However, some limited "safety valve" function regarding aberrant arbitral awards could be considered. The Parties Group records could serve as a repository of dispute settlements on matters of general interest reached in the context of bilateral consultations, mediation, conciliation, or arbitration. A State which has been a Party to consultations, mediation, conciliation, or arbitration would promptly inform the Parties Group of any settlement reached or award issued on a matter affecting the operation of the MAI, including questions of its interpretation. The Parties Group could consider public disclosure of categories of reported settlements other than arbitral awards, the latter would be generally public. No Party would be required to furnish the Parties Group information concerning a particular investor or investment the disclosure of which would be contrary to its laws protecting confidentiality. The Parties Group may also become involved, in a limited way, at the stage of e...
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