Common use of Settlement of disputes between investors Clause in Contracts

Settlement of disputes between investors. AND ONE CONTRACTING PARTY 1. Any legal dispute between an investor of one Contracting Party and the other Contracting Party in connection with an investment in the territory of the other Contracting Party shall, as far as possible, be settled amicably through negotiations between the parties to the dispute. 2. If the dispute that an investor of one Contracting Party claiming that the other Contracting Party has breached an obligation under Article 2 through 9, Article13 (2), can not be settled through negotiations within six months from the date it has been raised by either party to the dispute, the disputing investor who incurred loss or damage from that breach may, by his choice, submit the claim: (a) to the competent court of the Contracting Party that is a party to the dispute; (b) to International Center for Settlement of Investment Disputes(ICSID)under the Convention on the Settlement of Disputes between States and Nationals of Other States, done at Washington on March 18, 1965. (c) to an ad-hoc arbitral tribunal to be established under the Arbitration Rules of the United Nations Commission on the International Trade Law (UNCITRAL). An investment may not make a claim. The other Contracting Party may require the investor concerned to exhaust the domestic administrative review procedures specified by the laws and regulations of that Contacting Party before the submission to international arbitration. 3. If the investor has submitted the dispute to the competent court of the Contracting Party concerned or to international arbitration, the choice of one of the three procedures shall be final. 4. A dispute shall not be submitted to arbitration when more than three (3) years elapsed from the date that the investor first acquired or should have first acquired knowledge of the events which gave rise to the dispute. 5. The Tribunal shall decide a dispute in accordance with such rules of law as may be agreed by the Parties. In the absence of such agreement, the Tribunal shall apply the law of the Contracting state party to the dispute (including its rules on the conflict of laws), and such rules of international law as may be applicable, in particular, this Agreement. 6. Unless the disputing parties agree otherwise, where an award affirms that a Contracting Party has breached its obligations under this Agreement, the tribunal may only award, separately or in combination: (a) monetary damages and any applicable interest; or (b) restitution of property, in which case the award may specify monetary damages and corresponding interest in lieu of restitution. 7. The arbitration award shall be final and binding upon both parties to the dispute. Both Contracting Parties shall commit themselves to the enforcement of the award. 8. In principle, each Contracting Party shall bear the costs of its appointed arbitrator and of any legal representation in proceedings. The costs of the presiding arbitrator and of other expenses associated with the conduct of the arbitration shall be borne equally by the Contracting Parties. The Tribunal may award one Contracting Party to bear a higher proportion of the costs and give the explanation. If the Tribunal deems that the claim of the claimant or the objection of the respondent is frivolous, it may award the losing Party to bear reasonable costs and attorney’s fees of the prevailing Party incurred in objecting or opposing the objection with a reasonable cause.

Settlement of disputes between investors. AND ONE CONTRACTING CONTRCTING PARTY 1. Any legal dispute between an investor of one Contracting Party and the other Contracting Party in connection with an investment in the territory of the other Contracting Party shall, as far as possible, be settled amicably through negotiations between the parties to the dispute. 2. If the dispute that an investor of one Contracting Party claiming that the other Contracting Party has breached an obligation under Article 2 through 9, Article13 (2), can cannot be settled through negotiations within six months from the date it has been raised by either party to the disputemonths, the disputing investor who incurred loss or damage from that breach may, by his choice, of one Contracting Party may submit the claim: (a) dispute to the competent court of the other Contracting Party that is a Party. 3. Any dispute, if unable to be settled within six months after resort to negotiations as specified in Paragraph 1 of this Article, shall be submitted at the request of either party to the dispute;to: (ba) to International Center for Settlement of Investment Disputes(ICSID)under Disputes (ICSID) under the Convention on the Settlement of Disputes between States and Nationals of Other States, done at Washington on March 18, 1965.18,1965;or (cb) to an ad-ad hoc arbitral tribunal to be established under provided that the Arbitration Rules of the United Nations Commission on the International Trade Law (UNCITRAL). An investment may not make a claim. The other Contracting Party involved in the dispute may require the investor concerned to exhaust the domestic administrative review procedures procedure specified by the laws and regulations of that Contacting Contracting Party before submission of the submission dispute the above-mentioned arbitration procedure. However, if the investor concerned has resorted to international arbitrationthe procedure specified in Paragraph 2 of this Article, the provisions of this Paragraph shall not apply. 34. If Without prejudice to Paragraph 3 of this Article, the investor ad hoc arbitral tribunal referred to in Paragraph 3 (b) shall be constituted for each individual case in the following way: each party to the dispute shall appoint one arbitrator, and these two shall select a national of a third State which has submitted diplomatic relations with both Contracting Parties as the Chairman. The first two arbitrators shall be appointed within two months of the written notice requesting for arbitration by either party to the dispute to the competent court other and the Chairman shall be selected within four months. If, within the period specified above, the tribunal has not been constituted, either party to the dispute may invite the Secretary General of the Contracting Party concerned or International Center for Settlement of Investment Disputes to international arbitration, make the choice of one of the three procedures shall be final. 4. A dispute shall not be submitted to arbitration when more than three (3) years elapsed from the date that the investor first acquired or should have first acquired knowledge of the events which gave rise to the disputenecessary appointments. 5. The Tribunal ad hoc arbitral tribunal shall decide a dispute in accordance with such rules of law as may be agreed by the Partiesdetermine its own procedure. In the absence of such agreement, the Tribunal shall apply the law of the Contracting state party to the dispute (including its rules on the conflict of laws), and such rules of international law as may be applicable, in particular, this Agreement. 6. Unless the disputing parties agree otherwise, where an award affirms that a Contracting Party has breached its obligations under this AgreementHowever, the tribunal may only award, separately or in combination: (a) monetary damages and any applicable interest; or (b) restitution of propertymay, in which case the award may specify monetary damages and corresponding interest in lieu course of restitution. 7. The arbitration award shall be final and binding upon both parties to determination of procedure, take as guidance the dispute. Both Contracting Parties shall commit themselves to the enforcement Arbitration Rules of the award. 8. In principle, each Contracting Party shall bear the costs of its appointed arbitrator and of any legal representation in proceedings. The costs of the presiding arbitrator and of other expenses associated with the conduct of the arbitration shall be borne equally by the Contracting Parties. The Tribunal may award one Contracting Party to bear a higher proportion of the costs and give the explanation. If the Tribunal deems that the claim of the claimant or the objection of the respondent is frivolous, it may award the losing Party to bear reasonable costs and attorney’s fees of the prevailing Party incurred in objecting or opposing the objection with a reasonable cause.International Center for

Settlement of disputes between investors. AND ONE CONTRACTING PARTY 1. Any legal dispute between an investor of one Contracting Party and the other Contracting Party in connection with an investment in the territory of State of the other Contracting Party shall, as far as possible, be settled amicably through negotiations between the parties to the dispute, including conciliation procedures. 2. If the dispute that an investor of one Contracting Party claiming that the other Contracting Party has breached an obligation under Article 2 through 9, Article13 (2)or Article 13, can not be settled through negotiations within six months from the date it has been raised by either party to the dispute, the disputing investor who incurred loss or damage from that breach may, by his choice, submit the claim: (a) to the competent court of State of the Contracting Party that is a party to the dispute; (b) to International Center InternationalCenter for Settlement of Investment Disputes(ICSID)under Disputes (ICSID) under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, done at Washington on March 1818,1965, 1965.for arbitration; (c) to an ad-hoc arbitral tribunal to be established under the Arbitration Rules of the United Nations Commission on the International Trade Law (UNCITRAL). An investment may not make a claim; or (d) to any other arbitration institutions or ad-hoc arbitral tribunals agreed by the disputing parties. The other Contracting Party may has the right to require the investor concerned to exhaust the domestic administrative review procedures specified by the laws and regulations of that Contacting Party before the submission to international arbitration.Contracting 3. If the investor has submitted the dispute to the competent court of the Contracting Party concerned or to international arbitration, the choice of one of the three procedures four procedures, referred to in Paragraph 2 of this Article, shall be final. 4. A dispute shall not be submitted to arbitration when more than three (3) years elapsed from the date that the investor first acquired or should have first acquired knowledge of the events which gave rise to the dispute. 5. If the stipulations in this Agreement are in conflict with applicable arbitration rules, the stipulations in this Agreement shall prevail. 6. The Tribunal shall decide a dispute in accordance with such rules of law as may be agreed by the Partiesdisputing parties. In the absence of such agreement, the Tribunal shall apply the law of the Contracting state party to the dispute (including its rules on the conflict of laws), and such rules of international law as may be applicable, in particular, this Agreement. 67. Unless the disputing parties agree otherwise, where an award affirms that a Contracting Party has breached its obligations under this Agreement, the tribunal may only award, separately or in combination: (a) monetary damages and any applicable interest; or; (b) restitution of property, in which case the award may specify monetary damages and corresponding interest in lieu of restitution. 78. The arbitration award shall be final and binding upon both parties to the dispute. Both Contracting Parties shall commit themselves to the enforcement of the award. 89. A disputing party may not seek enforcement of a final award until: (a) in the case of a final award made under the ICSID Convention: (i) one hundred and twenty (120) days have elapsed from the date the award was rendered and no disputing party has requested revision or annulment of the award; or (ii) revision or annulment proceedings have bean completed; and (b) in the case of a final award under the ICSID Additional Facility Rules, the UNCITRAL Arbitration Rules, or any other arbitration rules selected by both disputing parties: (i) ninety (90) days have elapsed from the date the award was rendered and no disputing party has commenced a proceeding to revise, set aside, or annul the award; or (ii) a court has dismissed or allowed an application to revise, set aside, or annul the award and there is no further appeal by any disputing party. 10. In principle, each Contracting Party disputing party shall bear the costs of its appointed arbitrator and of any legal representation in proceedings. The costs of the presiding arbitrator and of other expenses associated with the conduct of the arbitration shall be borne equally by the Contracting Partiesdisputing parties. The Arbitral Tribunal may award one Contracting Party disputing party to bear a higher proportion of the costs and give the explanation. If the Tribunal deems that the claim of the claimant or the objection of the respondent one disputing party is frivolous, it may award the losing Party party to bear reasonable costs and attorney’s 's fees of the prevailing Party party incurred in objecting or opposing the objection with a reasonable cause.

Settlement of disputes between investors. AND ONE CONTRACTING CONTRCTING PARTY 1. Any legal dispute between an investor of one Contracting Party and the other Contracting Party in connection with an investment in the territory of the other Contracting Party shall, as far as possible, be settled amicably through negotiations between the parties to the dispute. 2. If the dispute that an investor of one Contracting Party claiming that the other Contracting Party has breached an obligation under Article 2 through 9, Article13 (2), can cannot be settled through negotiations within six months from the date it has been raised by either party to the disputemonths, the disputing investor who incurred loss or damage from that breach may, by his choice, of one Contracting Party may submit the claim: (a) dispute to the competent court of the other Contracting Party that is a Party. 3. Any dispute, if unable to be settled within six months after resort to negotiations as specified in Paragraph 1 of this Article, shall be submitted at the request of either party to the dispute;to: (ba) to International Center for Settlement of Investment Disputes(ICSID)under Disputes (ICSID) under the Convention on the Settlement of Disputes between States and Nationals of Other States, done at Washington on March 18, 1965.18,1965;or (cb) to an ad-ad hoc arbitral tribunal to be established under provided that the Arbitration Rules of the United Nations Commission on the International Trade Law (UNCITRAL). An investment may not make a claim. The other Contracting Party involved in the dispute may require the investor concerned to exhaust the domestic administrative review procedures procedure specified by the laws and regulations of that Contacting Contracting Party before submission of the submission dispute the above-mentioned arbitration procedure. However, if the investor concerned has resorted to international arbitrationthe procedure specified in Paragraph 2 of this Article, the provisions of this Paragraph shall not apply. 34. If Without prejudice to Paragraph 3 of this Article, the investor ad hoc arbitral tribunal referred to in Paragraph 3 (b) shall be constituted for each individual case in the following way: each party to the dispute shall appoint one arbitrator, and these two shall select a national of a third State which has submitted diplomatic relations with both Contracting Parties as the Chairman. The first two arbitrators shall be appointed within two months of the written notice requesting for arbitration by either party to the dispute to the competent court other and the Chairman shall be selected within four months. If, within the period specified above, the tribunal has not been constituted, either party to the dispute may invite the Secretary General of the Contracting Party concerned or InternationalCenter for Settlement of Investment Disputes to international arbitration, make the choice of one of the three procedures shall be final. 4. A dispute shall not be submitted to arbitration when more than three (3) years elapsed from the date that the investor first acquired or should have first acquired knowledge of the events which gave rise to the disputenecessary appointments. 5. The Tribunal ad hoc arbitral tribunal shall decide a dispute in accordance with such rules of law as may be agreed by the Partiesdetermine its own procedure. In the absence of such agreement, the Tribunal shall apply the law of the Contracting state party to the dispute (including its rules on the conflict of laws), and such rules of international law as may be applicable, in particular, this Agreement. 6. Unless the disputing parties agree otherwise, where an award affirms that a Contracting Party has breached its obligations under this AgreementHowever, the tribunal may only award, separately or in combination: (a) monetary damages and any applicable interest; or (b) restitution of propertymay, in which case the award may specify monetary damages and corresponding interest in lieu course of restitution. 7. The arbitration award shall be final and binding upon both parties to determination of procedure, take as guidance the dispute. Both Contracting Parties shall commit themselves to the enforcement Arbitration Rules of the award. 8. In principle, each Contracting Party shall bear the costs of its appointed arbitrator and of any legal representation in proceedings. The costs of the presiding arbitrator and of other expenses associated with the conduct of the arbitration shall be borne equally by the Contracting Parties. The Tribunal may award one Contracting Party to bear a higher proportion of the costs and give the explanation. If the Tribunal deems that the claim of the claimant or the objection of the respondent is frivolous, it may award the losing Party to bear reasonable costs and attorney’s fees of the prevailing Party incurred in objecting or opposing the objection with a reasonable cause.International Center for

Settlement of disputes between investors. AND ONE CONTRACTING PARTY 1. Any legal dispute between an investor of one Contracting Party and the other Contracting Party in connection with an investment in the territory of State of the other Contracting Party shall, as far as possible, be settled amicably through negotiations between the parties to the dispute, including conciliation procedures. 2. If the dispute that an investor of one Contracting Party claiming that the other Contracting Party has breached an obligation under Article 2 through 9, Article13 (2)or Article 13, can not be settled through negotiations within six months from the date it has been raised by either party to the dispute, the disputing investor who incurred loss or damage from that breach may, by his choice, submit the claim: (a) to the competent court of State of the Contracting Party that is a party to the dispute; (b) to International Center InternationalCenter for Settlement of Investment Disputes(ICSID)under Disputes (ICSID) under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, done at Washington on March 1818,1965, 1965.for arbitration; (c) to an ad-hoc arbitral tribunal to be established under the Arbitration Rules of the United Nations Commission on the International Trade Law (UNCITRAL). An investment may not make a claim; or (d) to any other arbitration institutions or ad-hoc arbitral tribunals agreed by the disputing parties. The other Contracting Party may has the right to require the investor concerned to exhaust the domestic administrative review procedures specified by the laws and regulations of that Contacting Contracting Party before the submission to international arbitration. 3. If the investor has submitted the dispute to the competent court of the Contracting Party concerned or to international arbitration, the choice of one of the three procedures four procedures, referred to in Paragraph 2 of this Article, shall be final. 4. A dispute shall not be submitted to arbitration when more than three (3) years elapsed from the date that the investor first acquired or should have first acquired knowledge of the events which gave rise to the dispute. 5. If the stipulations in this Agreement are in conflict with applicable arbitration rules, the stipulations in this Agreement shall prevail. 6. The Tribunal shall decide a dispute in accordance with such rules of law as may be agreed by the Partiesdisputing parties. In the absence of such agreement, the Tribunal shall apply the law of the Contracting state party to the dispute (including its rules on the conflict of laws), and such rules of international law as may be applicable, in particular, this Agreement. 67. Unless the disputing parties agree otherwise, where an award affirms that a Contracting Party has breached its obligations under this Agreement, the tribunal may only award, separately or in combination: (a) monetary damages and any applicable interest; or; (b) restitution of property, in which case the award may specify monetary damages and corresponding interest in lieu of restitution. 78. The arbitration award shall be final and binding upon both parties to the dispute. Both Contracting Parties shall commit themselves to the enforcement of the award. 89. A disputing party may not seek enforcement of a final award until: (a) in the case of a final award made under the ICSID Convention: (i) one hundred and twenty (120) days have elapsed from the date the award was rendered and no disputing party has requested revision or annulment of the award; or (ii) revision or annulment proceedings have bean completed; and (b) in the case of a final award under the ICSID Additional Facility Rules, the UNCITRAL Arbitration Rules, or any other arbitration rules selected by both disputing parties: (i) ninety (90) days have elapsed from the date the award was rendered and no disputing party has commenced a proceeding to revise, set aside, or annul the award; or (ii) a court has dismissed or allowed an application to revise, set aside, or annul the award and there is no further appeal by any disputing party. 10. In principle, each Contracting Party disputing party shall bear the costs of its appointed arbitrator and of any legal representation in proceedings. The costs of the presiding arbitrator and of other expenses associated with the conduct of the arbitration shall be borne equally by the Contracting Partiesdisputing parties. The Arbitral Tribunal may award one Contracting Party disputing party to bear a higher proportion of the costs and give the explanation. If the Tribunal deems that the claim of the claimant or the objection of the respondent one disputing party is frivolous, it may award the losing Party party to bear reasonable costs and attorney’s 's fees of the prevailing Party party incurred in objecting or opposing the objection with a reasonable cause.