Common use of Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party Clause in Contracts

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) The 1 — In case of disputes which arise within the terms of this Agreement, regarding investments between a Contracting Party and an investor of the other Contracting Party who has made investments in Party, consultations will take place between the territory of Parties concerned with a view to solving the firstcase, shall, to the extent as far as possible, be settled through consultationsamicably. (2) 2 — If these consultations do not result in a solution within four six months from the date of written request for settlement, the investor may submit the dispute, at his choice, for settlement to: (a) the The competent tribunal court of the Contracting Party in the territory of which the investment has been made; or (b) the The International Centre Center for Settlement of Investment Disputes (ICSID) having regard to the applicable provisions of provided for by the Convention on the Settlement of Investment Disputes between States and Nationals of the other States States, opened for signature at Washington D.C. Washington, on March 18, 1965, in the event case both Contracting Parties shall have become a party to members of this Convention; or (c) an An ad hoc arbitral tribunal which, unless otherwise agreed upon by the parties 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 (The choice made as per subparagraphs a, 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 c herein above mentioned arbitration tribunals, the choice of either procedure shall be is final. (5) 3 — The arbitral tribunal shall decide the dispute in accordance with the provisions of this Agreement and the applicable rules and principles of international law. The awards of arbitration awards shall be final and binding on both parties to the dispute. Each Contracting Party shall carry out without delay any such award and such award shall be enforced in accordance with the law of the domestic law. 4 — 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 which is a party to the dispute shall, at no time whatsoever during the procedures involving investment disputes, assert as a defense its immunity or the fact that the investor has failed to abide received compensation under an insurance contract covering the whole or comply with part of the court decision incurred damage or arbitratin award in the terms established by the respective decision or awardloss.

Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. (1) The — For the purpose of solving disputes which arise within the terms of this Agreement, with respect to investments between a Contracting Party and an investor of the other Contracting Party who has made investments in Party, consultations will take place between the territory of parties concerned with a view to solving the firstcase, shall, to the extent as far as possible, be settled through consultationsamicably. (2) — If these consultations do not result in a solution within four six months from the date of written request for settlement, the investor may submit the dispute, at his choice, for settlement to: (a) the The competent tribunal court of the Contracting Party in the territory of which the investment has been made; or (b) the The International Centre Center for Settlement of Investment Disputes (ICSID) having regard to the applicable provisions of provided for by the Convention on the Settlement of Investment Disputes disputes between States and Nationals of the other States States, opened for signature at Washington D.C. Washington, on March 18, 1965, in the event case both Contracting Parties shall have become a party to members of this Convention; orConvention on the Settlement of Investment disputes between States and Nationals of the other States, opened for signature at Washington, on March 18, 1965, in case both Contracting Parties have become members of this Convention; or (c) an An ad hoc 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 gives its irrevocable consent for any — The arbitral tribunal shall decide the dispute in accordance with the provisions of this kind to be submitted to any Agreement and the applicable rules and principles of the International law. The awards of 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 to the dispute. Each Contracting Party shall carry out without delay any such award and such award shall be enforced in accordance with the law of the domestic law. 4— 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 which is a party to the dispute shall, at no time whatsoever during the procedures involving investment disputes, assert as a defense its immunity or the fact that the investor has failed to abide received compensation under an insurance contract, other than the guarantee as mentioned in Article 7, covering the whole or comply with part of the court decision incurred damage or arbitratin award in the terms established by the respective decision or awardloss.

Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. (1) The disputes which arise within Any legal dispute under the terms provisions of this Agreement, arising directly from an investment between a other 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, shall be settled through consultationsamicably among themselves. (2) If these consultations do such disputes can not result in a solution be settled according to the provisions of paragraph (1) of this Article within four six months from the date of request in writing for settlement, other party to the investor dispute may submit the dispute, at his choice, for settlement dispute to: (a) the a. The competent tribunal court of the Contracting Party in host contracting party for decision, if the territory of which the investment has been made; investor so agrees, or (b) b. The International Center for the International Centre for Settlement of Investment Disputes (ICSID) having regard to the applicable provisions of established under the Convention on the Settlement of Investment investment Disputes between States and Nationals of the other States opened for signature at Washington D.C. on of March 18, 19651965 done in Washington, in D.C., if this Convention is applicable to the event Contracting Parties shall have become a xxxxx zarez or c. An Ad Hoc Arbitral Tribunal Either party to this Convention; or (c) an ad hoc arbitral tribunal which, unless otherwise agreed upon by the parties to investment dispute who choose one of the above mentioned way of the settlement of dispute, shall be established under can not choose the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL)two other ways. (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 The Ad Hoc Arbitrral Tribunal specified under literal (b) and paragraph 2 (c) shall be established as follows: a. Each party to the dispute shall appoint one arbitrator, and the two arbitrators thus appointed, shall select by mutual agreement a third arbitrator, who may be a citizen of a third country, and who shall be appointed as Chairman of the foregoing numeral. (4) Once Tribunal by the investor has submitted two parties. All the arbitrators must be appointed within two months from the date of notification by one party to the other party of its intention to submit the dispute to arbitration. b. If the competent tribunal periods specified in paragraph 3(a) herein above have not been respected either party, in the ahance of any other agreement, shall invite the Contracting Party in whose territory the investment has been made Secretary General, or to any Vice-Secretary General of the above mentioned arbitration tribunals, the choice Arbitral Tribunal at The Hague who is not a national of either procedure shall be finalContracting party to make the necessary appointments. (5) c. The arbitration awards Ad Hoc Arbitral Tribunal shall reach its decisions by a majority of vote. These decisions shall be final and legally binding on both upon the parties and shall be enforced in accordance with the domestic 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 party to the disputes referred to local tribunal or international arbitration dispute. The decision shall be taken in accordance conformity with the provisions of this Article until Agreement and the proceedings have been concluded, except where laws of the Contracting Party to the dispute has failed dispute. d. The Tribunal shall interpret its award and give reasons and basis of its decision at the request of either party. Subject to abide or comply with the court decision or arbitratin award in above, the terms established by Tribunal shall follow the respective decision or awardArbitration Rules of the United Nations Commission for International Trade Law (UNCITRAL) 1976.

Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. (1) The disputes which arise within . Any dispute under the terms provisions of this Agreement, arising directly from an investment, between a one 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, shall be settled amicably through the consultations. (2) . Without prejudice to paragraph 1 of this Article, the claimant may not submit a request for consultations if the dispute or claim relating to the measure underlying the claim under this Agreement was resolved via other legal measures or legal proceedings or by other international tribunal. 3. The request for consultations must be submitted within 3 years after the date on which the alleged breach of the Agreement occurred. If these consultations do the claimant fails to submit a request for consultation within this period the claimant shall be deemed to have waived its rights to bring a claim and may not result in submit a solution claim to arbitration under this Article. 4. If such disputes cannot be settled according to the provisions of paragraph 1 of this Article within four six months from the date of request in writing for settlement, including detailed information, such as the name and address of the disputing investor, the provisions of this Agreement alleged to have been breached, the factual and legal basis for the claim, then the investor concerned may submit the dispute, at his choice, preference the dispute for settlement either to: (a) the competent tribunal court of the host Contracting Party in the territory of which the investment has been madefor decision; or (b) the International Centre Center for the Settlement of Investment Disputes (ICSID) having regard to the applicable provisions of established under the Convention on the Settlement settlement of Investment Disputes disputes between States and Nationals of the other States opened for signature at Washington D.C. on of March 18, 19651965 done in Washington, in D.C., for arbitration under ICSID Rules of Procedure for Arbitration Proceedings at investor‘s choice, if this Convention is applicable to the event Contracting Parties shall have become a party to this ConventionParties; or (c) an ad hoc arbitral tribunal which, unless otherwise agreed upon by established in accordance with the parties to the dispute, shall be established under the arbitration rules Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). (3) Each Contracting Party hereby gives its irrevocable consent for any . The parties to the dispute of this kind may agree in writing to be submitted to any of the arbitration tribunals mentioned under literal (b) and (c) of the foregoing numeral. (4) modify those Rules. 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 chosen one of the above mentioned ways of the settlement of dispute, he cannot follow the other two ways. 5. The UNCITRAL rules on transparency in treaty-based investor-State arbitration tribunalsshall apply to any international arbitration proceedings under this Article. Nothing in this Agreement or the applicable arbitration rules shall prevent the exchange of a dispute related information between the European Union and the Republic of Lithuania. 6. The claim to arbitration must be submitted within 18 months after the submission of the request for consultation. If the claimant fails to submit a claim within this period the claimant shall be deemed to have waived its rights to bring a claim and may not submit a claim to arbitration under this Article. 7. Arbitrators appointed to arbitration tribunal under this Article shall have expertise or experience in public international law, in particular international investment law. It is desirable that they have expertise or experience in resolution of disputes arising under international investment agreements. 8. Arbitrators and their staff and assistants shall be independent of, and not be affiliated with or take instructions from the claimant or the respondent or the government of a Contacting Party with regard to investment matters. Arbitrators shall not take instructions from any organization, government or disputing parties with regard to matters related to the dispute. They shall not participate in the consideration of any disputes that would create a direct or indirect conflict of interest. In addition, they shall refrain from acting as counsel or as party-appointed expert or witness in any pending or new investment protection dispute under this or any other agreement or domestic law. 9. Where a disputing party considers that an arbitrator does not comply with the requirements of paragraph 8 of this Article, that disputing party shall send a notice of challenge to the appointing authority, and inform the other disputing party, within 15 days from the time it became aware of the circumstances underlying the arbitrator’s such non-compliance. The notice of challenge shall state the grounds for the challenge. After receiving such a notice, the choice appointing authority shall, after hearing the disputing parties and after providing the arbitrator subject to the notice of challenge an opportunity to submit any observations, issue a decision within 45 days of receipt of the notice of challenge and notify the disputing parties and the other arbitrators. If the appointing authority decides that an arbitrator has not complied with the requirements of Paragraph 8 of this Article, such arbitrator shall resign from the tribunal and a new arbitrator shall be appointed by the disputing party that had appointed the resigning arbitrator. If the new arbitrator has not been appointed within 30 days of the date of the appointing authority's decision, the appointing authority, on the request of either procedure disputing party, shall appoint, in his or her discretion, the new arbitrator. The arbitration proceedings shall be finalsuspended for the period taken to carry out the procedure provided for in this paragraph. (510. The Chairman of ICSID Administrative Council shall serve as an appointing authority for arbitration under Paragraph 4 b) of this Article. The Secretary-General of the Permanent Court of Arbitration at The Hague shall serve as an appointing authority for arbitration awards under Paragraph 4 c) of this Article. 11. The applicable arbitration rules such as ICSID Arbitration Rules or UNCITRAL Arbitration Rules shall govern the arbitration to the extent modified by this Article or in accordance to this Agreement. 12. Arbitration established under this Article shall decide the issues in dispute in accordance with: a) this Agreement; and b) applicable rules of international law. 13. The tribunal shall not have jurisdiction to determine the legality of a measure, alleged to constitute a breach of this Agreement, under the domestic law of the disputing Contracting Party. For greater certainty, where the tribunal is required to ascertain the meaning of a provision of the domestic law of one of the Contracting Parties as a matter of fact, it shall follow the prevailing interpretation of that provision made by the courts or authorities of that Contracting Party and any meaning given to the relevant domestic law by the tribunal shall not be binding upon the courts or authorities of that Contracting Party. 14. A joint interpretation of the Contracting Parties, exchanged through diplomatic channels, interpreting a provision of this Agreement shall be binding on a tribunal, and any decision or award issued by a tribunal must be consistent with that interpretation. The award shall be final and binding on both parties and binding. Each Contracting Party shall be enforced ensure the recognition of the arbitral reward in accordance with the law its laws and regulations and effective enforcement 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 such award in the terms established by the respective decision or awardits territory without delay.

Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party. (1) The disputes which arise within . A legal dispute under the terms provisions of this AgreementAgreement arising directly out of an investment, between a one Contracting Party (disputing Party) and an investor of the other Contracting Party who has made investments in the territory of the first(disputing investor) shall be settled, shall, to the extent as far as possible, amicably, through consultations and negotiations between the parties to dispute. 2. If an investment dispute referred in paragraph l cannot be settled through consultations. (2) If these consultations do not result direct arrangement between the parties in a solution the dispute within four six months from the date of request for settlementits written notification, the disputing investor referred to in paragraph l may submit to arbitration or tribunal under paragraph 3 a claim that: a. the disputedisputing Party has breached one or more of its obligation under this Agreement related to the management, conduct, operation or sale or other disposition of investment of the disputing investor, and b. the disputing investor has incurred loss or damage by reason of that breach 3. A claim referred to in paragraph 2 shall be submitted, at his the disputing investor choice, for settlement either to: (a) a. the competent tribunal court of the Contracting Party in the on which territory of which the investment has been is made; or (b) b. the arbitration by the International Centre for Settlement of Investment Disputes (ICSID) having regard to ), established by the applicable provisions of the "Convention on for the Settlement of Investment Disputes between States and Nationals of the other States States" opened for signature at Washington D.C. on March 18, 18th 1965, in provided that the event said Convention has entered into force for both Contracting Parties shall have become a party Parties, or according to this ConventionAdditional Facility Rules of the ICSID if the said Convention has not entered into force for either of the Contracting Parties; or (c) c. an ad hoc arbitral arbitration tribunal which, unless otherwise agreed upon by the parties to the dispute, shall be established under the arbitration rules 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 court of the Contracting Party in whose on which territory the investment has been is made or to any one of the above mentioned arbitration tribunalsprocedures stipulated in paragraphs 3(b) and 3(c) of this Article, the choice of either procedure shall be is final. (5) . Neither of the Contracting Parties, which is a party to the dispute, cannot raise an objection, at any stage of the arbitration proceedings or of the enforcement of an arbitration award, on the fact that the investor, which is the other party to the dispute, has received an indemnity covering wholly or partially his losses under an insurance policy. 6. The arbitration awards arbitral tribunal shall rule on the basis of national law of the Contracting Party involved in the dispute on which territory the investment is made, including the rules relating to conflicts of law, the provisions of this Agreement as well as principles of international law. 7. Arbitral decisions shall be final and binding on both parties and shall be enforced either party to the dispute. Each Contracting Party commits to enforce such decisions in accordance with the law of the Contracting Party in whose territory the investment was madeits national law. (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) The disputes . Any dispute which may arise within the terms between an investor of this Agreement, between a one Contracting Party and an investor of the other Contracting Party who has made investments concerning an investment of that investor in the territory of the first, shall, to the extent latter Contracting Party shall be permitted as far as possible, amicably through negotiations. 2. If such a dispute can not be settled through consultations. (2) If these consultations do not result in a solution within four six months from the date of request for settlementon which either party to the dispute requested amicable settlement through negotiations, the investor concerned may submit the dispute, at his choice, for settlement todispute to any of the following institutions: (a) the competent tribunal court of the Contracting Party in the whose territory of which the investment has been madecarried out; or b) the arbitral tribunal ad hoc, which will be constituted under the Arbitration Rules of the Commission of the United Nations on International Trade Law (bUNCITRAL); or c) the International Centre for Settlement of Investment Disputes (ICSID) having regard to the applicable provisions of ), established by the Convention on the Settlement of Investment Disputes between States and Nationals of the other States opened for signature at States, signed in Washington D.C. on March 18, 1965, in the event case both Contracting Parties shall have become a party to are parties under this Convention; or. (3. For the purposes of this Article, an investment dispute is defined as a dispute involving: a) the interpretation or application of an investment agreement between a Contracting Party and an investor of the other Contracting Party; b) the interpretation or application of permission for investment, given such an investor by the competent authority for foreign investment of the Contracting Party; c) an ad hoc alleged breach of any right conferred or created based on this contract in terms of investment. 4. The 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 take its decision based 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 national law of the Contracting Party in whose territory - a party to the investment has been made or to any dispute on the basis of the above mentioned arbitration tribunals, provisions of this Agreement and the choice generally accepted principles and norms of either procedure shall be finalinternational law. (5) . The arbitration awards decision of the arbitral tribunal shall be final and binding on both parties to the dispute and shall be enforced in accordance with the domestic law of the Contracting Party in whose territory the investment was madeconcerned. (6) The . At no stage of the arbitral proceedings or enforcement of the judgment Contracting Parties shall refrain from treating through diplomatic channels matters related Party which is party to the disputes referred to local tribunal or international arbitration in accordance with this Article until dispute can not be objected that the proceedings have been concluded, except where investor who is the Contracting Party other party to the dispute has failed to abide received under an insurance contract or comply with the court decision or arbitratin award in the terms established by the respective decision or awardfull partial compensation for its losses.