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 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. Any investment dispute between a Contracting Party and an investor of the other Contracting Party shall be settled amicably by negotiationis resolved through negotiations. 2. If a dispute under If, in accordance with paragraph 1 of this Article canAgreement, the dispute can not be settled resolved within six (6) months from a the date of receipt of the written notificationnotice, the dispute shalldispute, upon at the request of the investor, shall be settled as followsresolved: a) by a A. The competent court of the host Contracting Party, or b) by B. Through conciliation procedures or arbitration by proceedings at the International Centre Center for the Settlement of Investment Disputes (ICSID), established by the Convention on the Settlement of Investment Disputes between States and Nationals of other StatesForeign Citizens, opened for signature in Washington on March 18, 1965. In the case of arbitration, each Contracting Party, by Party hereby agrees without delay with this Agreement irrevocably consents in advance, even in the absence of an individual arbitral a separate arbitration agreement between the Contracting Party and the investor, to submit for the transfer of any such dispute to this CentreCenter. This implies agreement provides for the renunciation waiver of the requirement that the internal to exhaust domestic administrative or judicial remedies should be exhaustedand legal remedies; or c) by C. An arbitration by tribunal of 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 filing a request for the initiation of the an arbitration procedure. In the case of arbitration, each Contracting PartyParty shall, by this Agreement irrevocably consents in advancewithout delay, agree without delay, even in the absence of an individual arbitral a separate arbitration agreement between the Contracting Party and the investor, to submit transfer any such dispute to the tribunal mentionedaforementioned court; or d) by arbitration D. And. Arbitral Tribunal in accordance with the Arbitration Rules of Arbitration of the International Chamber of Commerce (ICC). 3. The award shall decision must be final and binding and shall binding; It must be executed according to the domestic law of the carried out in accordance with national law; The Contracting Party concerned. Each Contracting Party Parties shall ensure the recognition and enforcement of the arbitral award in accordance with its the relevant laws and regulationslegislation. 4. A Contracting Party which is not a party to a the dispute shall will not, at any stage of conciliation the conciliation, arbitration process or arbitration proceedings or enforcement execution of an awardthe decision, raise the objection that protest against the investor who is the other party to the dispute regarding the fact that he has received an indemnity a refund by virtue of a guarantee in respect of covering the share Or all or a part of its losses. 5. An investor who has submitted a dispute to a national court in accordance with paragraph 2 (a) of this article or to one of the arbitral tribunals referred to in paragraph 2 (b) to (d) shall not transfer the dispute to another court. The choice of an investor regarding a court or arbitral tribunal is final and binding.

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 By a competent court of the host Contracting Party, or b) by 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 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 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.