Scope and Standing. This Part applies to disputes between a Contracting Party and an investor of the other Contracting Party concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or his investment.
Scope and Standing. (1) This Part applies to disputes between a Contracting Party and an investor of the other Contracting Party concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or its investment. An enterprise that is an investment by an investor of the other Contracting Party may not submit a claim to arbitration under this Part.
(2) If an investor of a Contracting Party or his investment that is an enterprise initiates proceedings before a national tribunal with respect to a measure that is alleged to be a breach of this Agreement, the dispute may only be submitted to arbitration under this Part if the competent national tribunal has not rendered judgment in the first instance on the merits of the case. The foregoing does not apply to administrative proceedings before the administrative authorities executing the measure that is alleged to be a breach.
(3) Without prejudice to Article (18), paragraphs (5) and (6), in case an investor of a Contracting Party submits a claim to arbitration, neither the investor, nor his enterprise, may initiate or continue proceedings before a national tribunal.
Scope and Standing. This Part of the Agreement applies to any dispute between one Contracting Party and an investor of the other Contracting Party concerning an investment of that investor in the territory of the former Contracting Party.
Scope and Standing. 1. This Part applies to disputes between a Contracting Party and an investor of the other Contracting Party concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or its investment. An investment by an investor of the other Contracting Party may not submit a dispute for resolution under this Agreement.
2. If an investor submits a claim to arbitration under this Part, neither he nor its investment may initiate or continue proceedings before a national tribunal, except for proceedings for injunctive, declaratory or other extraordinary relief, not involving the payment of damages, before an administrative tribunal or court under the law of the disputing Party. If an investor or its investment initiates proceedings before a national tribunal, the investor may not submit a claim to arbitration under this Part.
Scope and Standing. 1. This Section applies to disputes between a Contracting Party and an investor of the other Contracting Party arising from the date the Agreement enters into force, concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or its investment. A company that is an investment in the territory of a Contracting Party made by an investor of the other Contracting Party, may not submit a claim to arbitration under this Section.
2. If an investor of a Contracting Party or his investment that is a company in the territory of the other Contracting Party initiates proceedings before a national tribunal with respect to a measure that is alleged to be a breach of this Agreement, the dispute may only be submitted to arbitration under this Section if the competent national tribunal has not rendered judgement in the first instance on the merits of the case. The foregoing does not apply to administrative proceedings before the administrative authorities executing the measure that is alleged to be a breach.
3. In case an investor of a Contracting Party submits a claim to arbitration, neither the investor nor his company that is an investment in the territory of the other Contracting Party, may initiate or continue proceedings before a national tribunal.
Scope and Standing. 1. This Part applies to disputes between a Contracting Party and an investor of the other Contracting Party concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or its investment. A legal person that is an investment of an investor of the other Contracting Party may not submit a claim to arbitration under this Part.
2. If an investor submits a claim to arbitration under this Part, neither he nor his investment that is a legal person may initiate or continue proceedings before a national tribunal, except for proceedings for injunctive, declaratory or other extraordinary relief, not involving the payment of damages, before an administrative tribunal or court under the law of the disputing Contracting Party. If an investor or his investment that is a legal person initiates proceedings before a national tribunal, the investor may not submit a claim to arbitration under this Part.
Scope and Standing. (1) This Section of the Agreement establishes rules under which an investor of one Contracting Party may submit a dispute with the other Contracting Party to international arbitration.
(2) An investor of a Contracting Party may submit to arbitration, either on its own behalf or on behalf of an enterprise constituted or organized under the laws of the other Contracting Party being an investment of such an investor, a claim arising out of an alleged breach of an obligation under this Agreement by the latter Contracting Party which causes loss or damage to the investor or its investment.
(3) An investor of one Contracting Party may not allege that the Contracting Party has breached an obligation under this Agreement both in arbitration and in proceedings before a national court or administrative tribunal of the latter Contracting Party. Where an enterprise constituted or organized under the laws of a Contracting Party being an investment of an investor of the other Contracting Party, alleges in proceedings before a national court or administrative tribunal that the former Contracting Party has breached an obligation under this Agreement, the investor may not allege the breach in an arbitration under this Agreement.
(4) An enterprise that is an investment may not make a claim under this Section.
(5) Only claims arising out of events which occurred after the entry into force of this Agreement may be submitted to arbitration.
(6) An investor may submit a claim to arbitration only if it, and when it acts on behalf of an enterprise constituted or organised under the laws of the other Contracting Party being an investment of such an investor, both the investor and the enterprise waive their right to initiate or continue before any administrative tribunal or court or other dispute settlement procedures, any proceedings with respect to the measure of the disputing Contracting Party that is alleged to be a breach of the Agreement, except for proceedings for injunctive, declaratory or other extraordinary relief, not involving the payment of damages, before an administrative tribunal or court under the law of the disputing Contracting Party.
(7) Where a disputing Contracting Party has deprived a disputing investor of control of an enterprise a waiver from the enterprise under paragraph 6 shall not be required.
Scope and Standing. This Section applies to disputes between a Contracting State and a national or company of the other Contracting State, arising from the date the Agreement enters into force, concerning an alleged breach of an obligation of the former Contracting State under this Agreement, which causes loss or damage to the national or company of the other Contracting State, may not submit a claim to arbitration under this Section.
Scope and Standing. 1. Disputes between the Parties concerning the interpretation and application of this Agreement shall, as far as possible, be settled by negotiations through the diplomatic channel.
2. If the dispute cannot be settled within six (6) months from the beginning of negotiations, it shall at the request in writing of either Party, through the diplomatic channel, be submitted to an ad hoc Arbitration Tribunal and shall be constituted as follows.
3. The tribunal shall consist of three (3) arbitrators who shall be appointed as follows:
a) Within two (2) months of the receipt of the written request for arbitration, each Party shall appoint one arbitrator;
b) Within one month of their appointment, these two arbitrators shall jointly select a national of a third State with whom both Parties maintain diplomatic relations who will act as chairman of the tribunal.
4. If within the periods specified in paragraph (3) of this article the necessary appointments have not been made, either Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make those appointments.
5. If the President is prevented from carrying out the said function or if he is a national of either Party, the Vice-President of the Court shall be invited to make the necessary appointments.
6. If the Vice-President is equally prevented from carrying out the said function or if he is a national of either Party, the member of the Court next in seniority who is not prevented from discharging the said function and is not a national of either Party shall be invited to make the necessary appointments.
7. The tribunal shall determine its own rules of procedure.
8. The tribunal shall decide by a majority of votes and its decisions shall be final and binding on both Parties.
9. In case of disagreement as to the meaning and scope of the decision, the tribunal shall interpret it at the request of either Party.
10. Each Party shall bear the cost of the arbitrator it has appointed and of its representation in the arbitral proceedings.
11. The cost of the chairman and the remaining costs shall be borne in equal parts by both Parties.
12. The tribunal may decide on a different distribution of the costs.
Section II. Disputes between a Party and an Investor of the other Party
Scope and Standing. 1. This Section applies to disputes between a Contracting Party and an investor of the other Contracting Party concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or its investment. A legal person that is an investment in the territory of a Contracting Party made by an investor of the other Contracting Party, may not submit a claim to arbitration under this Section.
2. If an investor of a Contracting Party or its investment that is a legal person in the territory of the other Contracting Party initiates proceedings before a national tribunal, the dispute may only be submitted to arbitration under this Section if the competent national tribunal has not rendered judgement in the first instance on the merits of the case. The foregoing does not apply to administrative proceedings before the administrative authorities executing the measure that is alleged to be a breach.
3. In case an investor of a Contracting Party submits a claim to arbitration, neither the investor nor his investment in the territory of the other Contracting Party, may initiate or continue proceedings before a national tribunal.
