Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. 1. Any investment dispute between a Contracting Party and an investor of the other Contracting Party shall be settled by negotiations.
2. If a dispute under paragraph 1 of this Article cannot be settled within six ( 6 ) months of a written notification, the dispute shall be upon the request of the investor settled as follows:
a) by a competent court of the Contracting Party, or
b) by conciliation or arbitration by the International Centre for Settlement of Investment Disputes (ICSID), established by the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature in Washington on March 18th, 1965. In case of arbitration, each Contracting Party, by this Agreement irrevocably consents in advance, even in the absence of an individual arbitral agreement between the Contracting Party and the investor, to submit any such dispute to this Centre. This consent implies the renunciation of the requirement that the internal administrative or judicial remedies should be exhausted; or
c) by arbitration by three arbitrators in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL), as amended by the last amendment accepted by both Contracting Parties at the time of the request for initiation of the arbitration procedure. In case of arbitration, each Contracting Party, by this Agreement irrevocably consents in advance, even in the absence of an individual arbitral agreement between the Contracting Party and the investor, to submit any such dispute to the tribunal mentioned.; or
d) by arbitration in accordance with the Rules of Arbitration of the International Chamber of Commerce (ICC).
3. The award shall be final and binding; it shall be executed according to the national law; each Contracting Party shall ensure the recognition and enforcement of the arbitral award in accordance with its relevant laws and other regulations.
4. A Contracting Party which is a party to a dispute shall not, at any stage of conciliation or arbitration proceedings or enforcement of an award, raise the objection that the investor who is the other party to the dispute has received an indemnity by virtue of a guarantee in respect of all or a part of its losses.
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. 1- In case of disputes regarding investments between a Contracting Party and an investor of the other Contracting Party, consultations will take place between the parties concerned with a view to solving the case, as far as possible, amicably.
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. (1) The disputes which arise within the terms of this Agreement, between a Contracting Party and an investor of the other Contracting Party who has made investments in the territory of the first, shall, to the extent possible, be settled through consultations.
(2) If these consultations do not result in a solution within four months from the date of request for settlement, the investor may submit the dispute, at his choice, for settlement to:
(a) the competent tribunal of the Contracting Party in the territory of which the investment has been made; or
(b) the International Centre for Settlement of Investment Disputes (ICSID) having regard to the applicable provisions of the Convention on the Settlement of Investment Disputes between States and Nationals of the other States opened for signature at Washington D.C. on March 18, 1965, in the event Contracting Parties shall have become a party to this Convention; or
(c) an ad hoc arbitral tribunal which, unless otherwise agreed upon by the parties to the dispute, shall be established under the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL).
(3) Each Contracting Party hereby gives its irrevocable consent for any dispute of this kind to be submitted to any of the arbitration tribunals mentioned under literal (b) and (c) of the foregoing numeral.
(4) Once the investor has submitted the dispute to the competent tribunal of the Contracting Party in whose territory the investment has been made or to any of the above mentioned arbitration tribunals, the choice of either procedure shall be final.
(5) The arbitration awards shall be final and binding on both parties and shall be enforced in accordance with the law of the Contracting Party in whose territory the investment was made.
(6) The Contracting Parties shall refrain from treating through diplomatic channels matters related to the disputes referred to local tribunal or international arbitration in accordance with this Article until the proceedings have been concluded, except where the Contracting Party to the dispute has failed to abide or comply with the court decision or arbitratin award in the terms established by the respective decision or award.
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. 1. Any dispute between one Contracting Party and an investor of the other Contracting Party concerning an alleged violation of one or more provisions of this Agreement in respect of an investment shall be settled, if possible, amicably through consultations and negotiations between the parties to the dispute.
2. If the dispute cannot be settled within six months from the date of settlement request, the dispute shall be submitted at the choice of the investor to:
i) a competent tribunal of the Contracting Party in whose territory the investment has been made, or
ii) arbitration to the International Centre for Settlement of Investment Disputes (ICSID) established by the "Convention for Settlement of Investment Disputes between States and Nationals of other States" opened for signature at Washington on March 18th 1965, or
iii) an arbitral ad-hoc tribunal established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). In case where the investor chooses to submit the dispute to arbitration as provided under the subparagraphs (ii) and (iii) above, such choice shall be irrevocable for the investor.
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. (1) For the purpose of solving disputes with respect to-investments between a Contracting Party and an investor of the other Contracting Party, consultations will take place between the parties concerned with a view r to solving the case, as far as possible, amicably.
(2) If these consultations do not result m a solution within six months from the date of request for settlement, the investor may submit the dispute, at his choice, for settlement to:
(a) the competent court of the Contracting Party in the territory of which the investment has been made; or
(b) the International Centre for Settlement of Investment Disputes (ICSID) provided for by the Convention on the Settlement of Investment Disputes between States and Nationals of the other States, opened for signature at Washington, on March 18, 1965; or
(c) an ad hoc arbitral tribunal which, unless otherwise agreed upon by the parties to the dispute, shall be established under the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL).
(3) Each Contracting Party hereby consents to the submission of an investment dispute to international conciliation or arbitration.
(4) The Contracting Party which is a party to the dispute shall, at. no time whatsoever during the procedures involving investment disputes, assert as a defence its immunity or the fact that the investor has received compensation under an insurance contract covering the whole or part of the incurred damage or loss.
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. (1) Any dispute which may arise between a Contracting Party and an investor of the other Contracting Party relating to an investment shall, as far as possible, be settled amicably.
(2) If the dispute can not be settled amicably within six months from the date of request of settlement, the investor may submit the dispute, at his choice, for settlement to:
(a) The competent court of the Contracting Party in the territory of which the investment has been made; or
(b) The International Centre for Settlement of Investment Disputes (ICSID) under the Convention on the Settlement of Investment Disputes between States and Nationals of the other States, done at Washington, on March 18, 1965; orConvention on the Settlement of Investment Disputes between States and Nationals of the other States, done at Washington, on March 18, 1965; or
(c) An ad hoc arbitral tribunal which, unless otherwise agreed upon by the parties to the dispute, shall be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).
(3) Each Contracting Party hereby consents to the submission of an investment dispute to international conciliation or arbitration. All arbitral awards shall be final and binding on the parties to the dispute. Each Contracting Party shall enforce the arbitral award in its territory.
(4) The Contracting Party which is a party to the dispute shall not raise as an objection, at any stage of the proceedings, or enforcement of an award, its immunity or the fact that the investor which is the other party to the dispute has received or will receive compensation under an insurance contract for all or part of its alleged damage or loss.
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. 9.1 For the purpose of solving disputes with respect to investments between a Contracting Party and an investor of the other Contracting Party, consultations will take place between the parties concerned with a view to solving the case, as far as possible, amicably.
9.2 If these consultations do not result in a solution within three months from the date of request for settlement, the investor may submit the dispute, at his choice, for settlement to:
(a) the competent court of the Contracting Party in the territory of which the investment has been made; or
(b) the International Centre for Settlement of Investment Disputes (ICSID) provided for by the Convention on the Settlement of Investment Disputes between States and Nationals of the other States, done at Washington, on March 18, 1965; or
(c) an ad-hoc arbitral tribunal, which, unless otherwise agreed upon by the parties to the dispute, shall be. established under the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL).
9.3 Each Contracting Party hereby consents to the submission of an investment dispute to international conciliation or arbitration [and that any arbitral award shall be final and binding upon the parties to the dispute.
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. 1. Any investment dispute between a Contracting Party and an investor of the other Contracting Party shall be settled amicably by negotiation.
2. If a dispute under paragraph 1 of this Article cannot be settled within six (6) months from a written notification, the dispute shall, upon the request of the investor, be settled as follows:
a) by a competent court of the host Contracting Party, or
b) by conciliation or arbitration by the International Centre for Settlement of Investment Disputes (ICSID), established by the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature in Washington on March 18, 1965. In case of arbitration, each Contracting Party, by this Agreement irrevocably consents in advance, even in the absence of an individual arbitral agreement between the Contracting Party and the investor, to submit any such dispute to this Centre. This implies the renunciation of the requirement that the internal administrative or judicial remedies should be exhausted; or
c) by arbitration by three arbitrators in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL), as amended by the last amendment accepted by both Contracting Parties at the time of the request for initiation of the arbitration procedure. In case of arbitration, each Contracting Party, by this Agreement irrevocably consents in advance, even in the absence of an individual arbitral agreement between the Contracting Party and the investor, to submit any such dispute to the tribunal mentioned; or
d) by arbitration in accordance with the Rules of Arbitration of the International Chamber of Commerce (ICC).
3. The award shall be final and binding and shall be executed according to the domestic law of the Contracting Party concerned. Each Contracting Party shall ensure the recognition and enforcement of the arbitral award in accordance with its relevant laws and regulations.
4. A Contracting Party which is a party to a dispute shall not, at any stage of conciliation or arbitration proceedings or enforcement of an award, raise the objection that the investor who is the other party to the dispute has received an indemnity by virtue of a guarantee in respect of all or a part of its losses.
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. 1. Disputes between one Contracting Party and investor of the other Contracting Party, in connection with his investment, shall be notified in writing, including detailed information, by the investor to the recipient party of the investment. As far as possible, the inventor and the concerned party shall endeavor to settle the disputes amicably through consultations and negotiations.
2. If the disputes cannot be settled amicably within six months from the date on which the written notification is delivered, the dispute can be submitted, as the investor may choose, to:
i) the competent court or Arbitral Tribunal of the Contracting Party in the territory of which the investment has been made; or
ii) the International Center for Settlement of Investment Disputes (ICSID) set up by the "Convention on Settlement of Investment Disputes between States and Nationals of Other States", in case both Parties are members to this Convention; or
iii) an ad hoc arbitral tribunal to be established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL).
Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. (1) Any dispute arising out of this Agreement relating to an investment shall be settled amicably.
(2) If the dispute cannot be resolved in accordance with the provisions of paragraph 1 of this Article within six months from the date of the written request for settlement, either Contracting Party may submit the dispute to the other Contracting Party:
(a) to the competent tribunal of the host Contracting Party, if the investor consents;
(b) to the International Centre for Settlement of Investment Disputes established by the Washington Convention of 18 March 1965, if that Convention is applicable to the Contracting Parties;
(c) an ad hoc arbitral tribunal. Either party to the dispute which chooses one of the above-mentioned channels for the settlement of the said dispute may no longer use the other channel.
(3) The ad hoc arbitral tribunal specified in paragraph 2 shall be established as follows:
(a) each Party shall nominate one arbitrator and the two (2) arbitrators so nominated shall choose by mutual consent a third arbitrator who shall be a citizen of a third country and who shall be appointed as chairman of the tribunal by both Parties. All arbitrators shall be appointed within two (2) months of notification by one Party to the other Party of its intention to submit the dispute to arbitration;
(b) if the time-limits specified in paragraph 3 above are not observed, either Party, in case of disagreement, shall invite the Secretary-General or the Deputy Secretary-General of the Arbitral Tribunal at The Hague who is not a national of the Contracting Parties to make the necessary appointments;
