Common use of Settlement of disputes between the Clause in Contracts

Settlement of disputes between the. parties 1. Any dispute between the Contracting Parties concerning the interpretation or implementation of this Agreement which is not resolved by consultation or otherwise diplomatically within 180 days shall, at the request of either Contracting Party, be submitted to arbitration which shall give rise to a binding decision or tribunal judgment in accordance with with the relevant rules of international law. Unless the parties agree otherwise, the tribunal shall establish its own procedural rules. 2. Unless the parties agree otherwise, the tribunal shall be composed of three arbitrators, each Contracting Party designating one arbitrator and the third, who shall be the Chief Judge, shall be appointed by agreement of the Contracting Parties. If the tribunal is not constituted within 75 days of the date of filing a request for arbitration under this section, then each of the Contracting Parties may request its appointment as President of the International Court of Justice. If the President of the International Court of Justice is a national of one of the Contracting Parties or if other obstacles arise for which he will not be able to perform the said function, then the Vice-President will be asked to appoint the members of the Tribunal. If it happens that the Vice-President is a national of either Contracting Party or if there are other obstacles for which he will not be able to perform the said function, then the Member of the International Court of Justice next in seniority, who is not a national of either Contracting Party following shall be called upon to appoint the members of the tribunal. 3. The costs incurred by the arbitrator and the other costs of the proceedings shall be borne by the parties in an equal manner. However, the General Court may, at its discretion, order that one of the Contracting Parties is to pay a higher proportion of the costs. Part E. Final provisions