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).
Appears in 4 contracts
Samples: Reciprocal Promotion and Protection of Investments Agreement, Reciprocal Promotion and Protection of Investments Agreement, Reciprocal Promotion and Protection of Investments Agreement
