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. 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. 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 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 the settlement request, the dispute shall be submitted at the choice 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 the Settlement of Investment Disputes (ICSID) ), established by the "Convention for on the Settlement of Investment Disputes between States and Nationals nationals of other States" , opened for signature at Washington on 18 March 18th 1965, or (iii) an arbitral ad-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 (iiihi) above, such choice shall be irrevocable for the investor.