Common use of Settlement of Disputes between an Investor Clause in Contracts

Settlement of Disputes between an Investor. and a Contracting Party 1. Any legal dispute between an investor of one Contracting Party and the other Contracting Party relating to an investment of the former which have not been amicably settled shall, after a period of six months from written notification of a claim, be submitted to international arbitration if the investor concerned so wishes. 2. Where the dispute is referred to international arbitration, the investor and the Contracting Party concerned in the dispute may agree to refer the dispute either to: (a) the International Centre for the 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 at Washington DC on 18 March 1965, when each Contracting Party has become a party to said Convention; (As long as this requirement is not met, each Contracting Party agrees that the dispute may be settled under the rules governing the Additional Facility for the Administration of Proceedings by the Secretariat of ICSID) or (b) an international arbitrator or adhoc arbitration tribunal to be appointed by a special agreement or established under the Arbitration Rules of the United Nations Commission of International Trade Law. 3. If after a period of three months from written notification of the investor’s decision to refer the dispute to international arbitration there is no agreement on one of the alternative procedures referred to in paragraph (2), the dispute shall, at the request in writing of the investor concerned, be dealt with in terms of the procedure preferred by the investor. 4. The award made by the arbitrator concerned in terms of paragraphs 2 or 3 shall be binding on the parties to the dispute. Each Contracting Party shall give effect to the award under its national law.

Settlement of Disputes between an Investor. and a Contracting Partythe Host State (1. ) Any legal dispute between an investor of one Contracting Party and the other Contracting Party relating contracting party concerning an obligation of the latter under the present Agreement and to an investment of the former which that investor may, if they have not been amicably settled shall, after a period of six months from written notification of a claimamicably, be submitted to international arbitration if by the investor concerned so wishesconcerned, after a period of three months from the date of notification of a claim. (2. ) Where the a dispute is referred submitted to international arbitration, the investor Party and the Contracting Party concerned in contracting party to the dispute may agree to refer the dispute either todispute: (a) the The International Centre for the Settlement of Investment Disputes (ICSID) established by having regard to the provisions), where applicable, the Convention on the Settlement of Investment Disputes between States and Nationals of other Other States, opened for signature at Washington DC on 18 March 1965, when each Contracting Party has become a party to said Convention; (As long 19651 as this requirement is not met, each Contracting Party agrees that well as the dispute may be settled under the rules governing the Additional Facility additional facility for the Administration administration of Proceedings by arbitration and conciliation, fact-finding ou1); and the Secretariat additional facility for the administration of ICSID) arbitration and conciliation, fact-finding); or (b) an The Court of Arbitration of the International Chamber of Commerce; or (c) An international arbitrator or adhoc ad hoc arbitration tribunal to be appointed by a special agreement or established under the Arbitration Rules of the United Nations Commission of on United Nations Commission on International Trade Law. (3. ) If after a period of three months from written the date of notification of the investor’s decision to refer the dispute to international arbitration claim there is no agreement on one of the alternative procedures referred to in paragraph (2)these procedures, the dispute shallshall be submitted, at the request in writing of the investor concerned, be dealt with in terms concerned to arbitration under the Arbitration Rules of the procedure preferred by the investor. 4United Nations Commission on United Nations Commission on International Trade Law in force. The award made by the arbitrator concerned in terms of paragraphs 2 or 3 shall be binding on the parties to the dispute. Each dispute may agree in writing to modify these rules. (4) If both Contracting Party Parties shall give effect have become parties to the award under its national lawWashington Convention referred to in subparagraph (2), letter (a) above, disputes within the meaning of this article may be submitted by the investor concerned or the International Centre for Settlement of Investment Disputes, or to the procedure referred to in subparagraph (3) above.

Settlement of Disputes between an Investor. and a Contracting Partythe Host State (1. Any legal dispute ) Disputes between an investor of one Contracting Party and the other Contracting Party relating concerning an obligation of the latter under this Agreement in relation to an investment of the former which have not been amicably settled shall, after a period of six three months from written notification of a claim, be submitted to international arbitration if the investor concerned so wishes. (2. ) Where the dispute is referred to international arbitration, the investor and the Contracting Party concerned in the dispute may agree to refer the dispute either to: (a) the International Centre for the Settlement of Investment Disputes (ICSID) established by having regard to the provisions, where applicable, of the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington DC on 18 March 1965, when each Contracting Party has become a party to said Convention; (As long as this requirement is not met, each Contracting Party agrees that the dispute may be settled under the rules governing 1965 and the Additional Facility for the Administration of Proceedings by the Secretariat of ICSID) Conciliation, Arbitration and Fact-Finding Proceedings); or (b) the Court of Arbitration of the International Chamber of Commerce; or (c) an international arbitrator or adhoc ad hoe arbitration tribunal to be appointed by a special agreement or established under the Arbitration Rules of the United Nations Commission of on International Trade Law. (3. ) If after a period of three months from written notification of the investor’s decision to refer the dispute to international arbitration claim there is no agreement on to one of the above alternative procedures referred to in paragraph (2)procedures, the dispute shall, shall at the request in writing of the investor concerned, concerned be dealt with in terms submitted to arbitration under the Arbitration Rules of the procedure preferred by the investor. 4United Nations Commission on International Trade Law as then in force. The award made by the arbitrator concerned in terms of paragraphs 2 or 3 shall be binding on the parties to the dispute. Each dispute may agree in writing to modify these Rules. (4) In the event of both Contracting Party shall give effect Parties having become members of the Convention of Washington mentioned in paragraph (2), letter (a) above, disputes under this Article may, as an alternative to the award under its national lawprocedure mentioned in paragraph (3) above, be submitted by the investor to the International Centre for the Settlement of Investment Disputes.

Settlement of Disputes between an Investor. and an Host State (1) Disputes between a Contracting Party 1. Any legal dispute between an investor national or company of one Contracting Party and the other Contracting Party relating concerning an obligation of the latter under this Agreement in relation to an investment of the former which have not been amicably settled shall, after a period of six months from written notification of a claim, be submitted to international arbitration if the investor national or company concerned so wishes. (2. ) Where the dispute is referred to international arbitration, the investor national or company and the Contracting Party concerned in the dispute may agree to refer the dispute either to: (a) the The International Centre Centrex for the Settlement of Investment Disputes (ICSID) established by having regard to the provisions, where applicable, of the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington DC on 18 March 1965, when each Contracting Party has become 1965(1) in the event that the Mongolian People's Republic becomes a party to said this Convention; (As long as this requirement is not met, each Contracting Party agrees that the dispute may be settled under the rules governing and the Additional Facility for the Administration of Proceedings by the Secretariat of ICSID) Conciliation, Arbitration and Fact-Finding Proceedings); or (b) an An international arbitrator arbitration or adhoc arbitration ad hoc arbitral tribunal to be appointed by a special agreement or established establishment under the Arbitration Rules of the United Nation Commission on International Trade Law. If after a period of six months from written notification of the claim there is no agreement to one of the above alternative procedures, the dispute shall at the request in writing of the national or company concerned be submitted to arbitration under the Arbitration Rules of the United Nations Commission of on International Trade LawLaw as then in force. The parties to the dispute may agree in writing to modify these Rules. (3. If after a period of three months from written notification of the investor’s decision to refer the dispute to international arbitration there is no agreement on one of the alternative procedures referred to ) Nothing in paragraph (2), the dispute shall, at the request in writing of the investor concerned, be dealt with in terms of the procedure preferred by the investor. 4. The award made by the arbitrator concerned in terms of paragraphs 2 or 3 this Article shall be binding on construed to prevent the parties to the dispute. Each Contracting Party shall give effect to the award under its national lawdispute from agreeing upon any other form of arbitration or procedure for settlement of their disputes which they consider appropriate.

Settlement of Disputes between an Investor. and a Contracting Party (1. ) Any legal dispute between an investor of one Contracting Party and the other Contracting Party relating to an investment of the former which have has not been amicably settled shall, after the expiry of a period of six months from written notification of a claim, thereof be submitted to international arbitration if the investor concerned so wishes. (2. ) Where the dispute is referred to international arbitration, the investor and the Contracting Party concerned in the dispute may agree to refer the dispute either to:to- (a) the International Centre for the 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 at Washington DC on 18 March 1965, when each Contracting Party has become a party to said Convention; (As long as this requirement is not met, each Contracting Party agrees that the dispute may be settled under the rules governing the Additional Facility for the Administration of Proceedings by the Secretariat of ICSID) or (b) an international arbitrator or adhoc ad hoc arbitration tribunal to be appointed established by a special agreement or established under between the Arbitration Rules of Contracting Parties to the United Nations Commission of International Trade Lawdispute. (3. ) If after the expiry of a period of three months from written notification of the investor’s investors decision to refer the dispute to international arbitration there is no agreement on one of the alternative procedures referred to in paragraph sub-Article (2), the dispute shall, at the request in writing of the investor concerned, be dealt with in terms of the procedure preferred by the investor. (4. ) The domestic law in force in the territory of the Contracting Party in whose country the investment was made, the provisions of this Agreement as well as a specific agreement, which might have been entered into regarding the investment and the principles of international law, shall be applied in resolving the dispute. (5) The award made by the arbitrator concerned appointed in terms of paragraphs 2 sub-Articles (2) or 3 (3) shall be binding on the parties Contracting Parties to the dispute. Each Contracting Party shall give effect to the award under its national law.

Settlement of Disputes between an Investor. and a Contracting PartyHost State (1. Any legal dispute ) Disputes between an investor a national or company of one Contracting Party and the other Contracting Party relating concerning an obligation of the latter under this Agreement in relation to an investment of the former which have not been amicably settled shall, after a period of six three months from written notification of a claim, be submitted to international arbitration if either party to the investor concerned dispute so wishes. (2. ) Where the dispute is referred to international arbitrationabritration, the investor national or company and the Contracting Party concerned in the dispute may agree to refer the dispute either to: (a) the The International Centre for the Settlement of Investment Disputes (ICSID) established by having regard to the provisions, where applicable, of the Convention on the Settlement of Investment Disputes between States and Nationals of other States, opened for signature at Washington DC on 18 March 1965, when each Contracting 1965 in the event that Vietnam becomes a Party has become a party to said Convention; (As long as this requirement is not met, each Contracting Party agrees that the dispute may be settled under the rules governing Convention and the Additional Facility for the Administration of Proceedings by the Secretariat of ICSID) Conciliation, Arbitration and Fact-Finding Proceedings); or (b) an An international arbitrator or adhoc arbitration tribunal ad hoc arbitral tribunal: (i) By an agreement between the parties to the dispute; or (ii) To be appointed by a special agreement or established under the Arbitration Rules of the United Nations Commission of on International Trade Law. (3. ) If after a period of three months from written notification of the investor’s decision to refer the dispute to international arbitration claim there is no agreement on to one of the above alternative procedures referred to in paragraph (2)procedures, the dispute shall, at the request in writing of the investor concerned, be dealt with in terms of the procedure preferred by the investor. 4. The award made by the arbitrator concerned in terms of paragraphs 2 or 3 shall be binding on the parties to the disputedispute shall be bound to submit it to arbitration under the Arbitration Rules of the United Nations Commission on International Trade Law as then in force. Each The parties to the dispute may agree in writing to modify these Rules. (4) The arbitral tribunal constituted under paragraphs (2) and (3) above shall reach its decisions on the basis of the domestic law of the Contracting Party shall give effect to in whose territory the award under investment in question is situated (including its national lawrules on the conflict of laws) and the rules of international law (including this Agreement) as may be applicable.

Settlement of Disputes between an Investor. and a Contracting Party 1. Any legal dispute between an investor of one Contracting Party and the other Contracting Party relating to an investment of the former which have not been amicably settled shall, after a period of six months from written notification of a claim, be submitted to international arbitration if the investor concerned so wishes. 2. Where the dispute is referred to international arbitration, the investor and the Contracting Party concerned in the dispute may agree to refer the dispute either to: (a) the The International Centre for the 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 at Washington DC on 18 March 1965, when each Contracting Party has become a party to said Convention; (As long as this requirement is not met, each Contracting Party agrees that the dispute may be settled under the rules governing the Additional Facility for the Administration of Proceedings by the Secretariat of ICSID) or (b) an An international arbitrator or adhoc arbitration tribunal to be appointed by a special agreement or established under the Arbitration Rules of the United Nations Commission of International Trade Law. 3. If after a period of three months from written notification of the investor’s 's decision to refer the dispute to international arbitration there is no agreement on one of the alternative procedures referred to in paragraph (2), the dispute shall, at the request in writing of the investor concerned, be dealt with in terms of the procedure preferred by the investor. 4. The award made by the arbitrator concerned in terms of paragraphs 2 or 3 shall be binding on the parties to the dispute. Each Contracting Party shall give effect to the award under its national law.