Settlement of investment Sample Clauses

Settlement of investment disputes between a contracting party and an investor of the other contracting party

Settlement of investment disputes between a contracting party and an investor of the other contracting party (i) An obligation entered into by that Contracting Party with the investors of the other Contracting Party regarding an investment by such investor; or (ii) An alleged breach of any right conferred or created by this Agreement with respect to an investment by such investor, shall be resolved amicably through consultation and negotiation. 2 In event that such a dispute cannot be settled amicably within six (6) months from the date of the written notification of such dispute, the investor may refer the dispute to either: (a) The courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is a party to the dispute; or (b) The International Centre for the Settlement of Investment Disputes (hereinafter referred to as "the Centre") for settlement by conciliation or arbitration under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States opened for signature at Washington on 18 March 1965.

Settlement of investment. Disputes between a Contracting Party and an Investor of the other Contracting Party 1. Any dispute which may arise between an investor of one Contracting Party and the other Contracting Party in connection with an investment on the territory of that other Contracting Party shall be subject to negotiations between the parties in dispute. 2. If any dispute between an investor of one Contracting Party and the other Contracting Party can not be thus settled within a period of six months from the beginning of such negotiations, the investor shall be entitled to submit the case either to: a) The competent court of the Contracting Party in the territory of which the investment has been made; or b) The International Centre for Settlement of Investment Disputes (ICSID) having regard to the applicable provisions of the Convention on the Settlement of Investment Disputes between States and Nationals of other States opened for signature at Washington D.C. on 18 March 1965, in the event both Contracting Parties are parties to this Convention; or c) An arbitrator or international ad hoc arbitral tribunal established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL). The parties to the dispute may agree in writing to modify these Rules. The arbitral awards shall be final and binding on both Parties to the dispute.

Settlement of investment. Disputes between a Contracting Party and an Investor of the Other Contracting Party 1. In the event of an investment dispute between the claimant and the respondent, they should initially seek to resolve the dispute through consultation and negotiation, which may include the use of non-binding, third-party procedures. 2. In the event that an investment dispute cannot be settled by consultation and negotiation within six months from the date on which the claimant requested in writing the respondent for consultation and negotiation, the claimant may submit to arbitration under this Article a claim: (a) that the respondent has breached an obligation under Section I, except an obligation under Articles 9, 18 and 20; and (b) that the claimant has incurred loss or damage by reason of, or arising out of, that breach. 3. At least 90 days before submitting any claim to arbitration under this Article, a claimant shall deliver to the respondent a written notice of its intention to submit the claim to arbitration (hereinafter referred to as “notice of intent”). The notice of intent shall specify: (a) the name and address of the claimant; (b) for each claim, the provision of Section I alleged to have been breached and any other relevant provisions; (c) the legal and factual basis for each claim; and (d) the relief sought and the approximate amount of damages claimed. 4. Provided that six months have elapsed since the claimant requested in writing the respondent for consultation and negotiation, the claimant may submit a claim referred to in paragraph 2 to the arbitration: (a) under the ICSID Convention, provided that both Contracting Parties are parties to the ICSID Convention; (b) under the ICSID Additional Facility Rules, provided that either Contracting Party, but not both, is a party to the ICSID Convention; (c) under the UNCITRAL Arbitration Rules; or (d) if the disputing parties agree, under any other arbitration institution or arbitration rules. 5. A claim shall be deemed submitted to arbitration under this Article when the claimant’s notice of or request for arbitration: (a) referred to in paragraph 1 of Article 36 of the ICSID Convention is received by the Secretary- General of ICSID; (b) referred to in Article 2 of Schedule C of the ICSID Additional Facility Rules is received by the Secretary-General of ICSID; (c) referred to Article 3 of the UNCITRAL Arbitration Rules, together with the statement of claim referred to in Article 20 of the UNCITRAL Arbitration...

Settlement of investment. Disputes between a Contracting Party and an Investor of the Other Contracting Party 1. For the purposes of this Article, “investment dispute” is a dispute between a Contracting Party and an investor of the other Contracting Party that has incurred loss or damage by reason of, or arising out of, an alleged breach of any obligation of the former Contracting Party under this Agreement with respect to the investor of that other Contracting Party or its investments in the Area of the former Contracting Party. 2. Subject to subparagraph 7(b), nothing in this Article shall be construed so as to prevent an investor who is a party to an investment dispute (hereinafter referred to in this Article as “disputing investor”) from seeking administrative or judicial settlement within the Area of the Contracting Party that is a party to the investment dispute (hereinafter referred to in this Article as “disputing Party”). 3. Any investment dispute shall, as far as possible, be settled amicably through consultations between the disputing investor and the disputing Party (hereinafter referred to in this Article as “the disputing parties”). 4. If the investment dispute cannot be settled through such consultations within three months from the date on which the disputing investor requested in writing the disputing Party for consultations, the disputing investor may, subject to subparagraph 7(a), submit the investment dispute to one of the following international arbitrations: (a) arbitration in accordance with the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, done at Washington, March 18, 1965 (hereinafter referred to in this Article as “the ICSID Convention”), so long as the ICSID Convention is in force between the Contracting Parties; (b) arbitration under the Additional Facility Rules of the International Centre for Settlement of Investment Disputes, provided that either Contracting Party, but not both, is a party to the ICSID Convention; (c) arbitration under the Arbitration Rules of the United Nations Commission on International Trade Law; and (d) if agreed with the disputing Party, any arbitration in accordance with other arbitration rules. 5. Each Contracting Party hereby consents to the submission of an investment dispute by a disputing investor to arbitration set forth in paragraph 4 chosen by the disputing investor. 6. Notwithstanding paragraph 5, no investment disputes may be submitted to arbitration set forth in pa...

Settlement of investment disputes between a contracting party and an investor of the other contracting party 1. This Article applies to disputes between a Contracting Party and an investor of the other Contracting Party concerning an alleged breach of an obligation of the former Contracting Party under this Agreement which causes loss or damage to the investor or the investment. Any of such disputes shall be settled, as far as possible, amicably and shall be notified by submitting a notice of the dispute in writing (Notice of Dispute). 2. In order to submit a claim for settlement under this Article, domestic administrative remedies shall be exhausted in accordance with applicable laws and regulations. Such procedure shall normally not exceed three (3) months, and in no case exceed six (6) Months, from the date of its initiation by the investor. 3. Nothing in this Article shall be construed as to prevent the parties of a dispute from referring their dispute, by mutual agreement, to ad hoc or institutional mediation or conciliation before or during the arbitral proceeding. 4. If the dispute has not been settled within nine (9) months from the date of the written notification mentioned in paragraph 1 of this Article, a notice of request for arbitration ("request for arbitration' 1) may be submitted, at the discretion of the investor: a. to any competent court or administrative tribunal of the Contracting Party to the dispute; b. in accordance with any dispute settlement procedure agreed upon prior to the dispute; or c. by arbitration in accordance with this Article under: I. the Convention on the Settlement of Investment Disputes between States and Nationals of other States (the "ICSID Convention'), if the ICSID Convention is available;

Settlement of investment disputes between a contracting party and an investor of the other contracting party (1) Any dispute between either Contracting Party and an investor of the other Contracting Party relating to investments under this Agreement shall be settled amicably, as far as possible, by the parties to the dispute through consultation and negotiation. (2) The legal procedures and remedies under the laws and regulations of one Contracting Party in the territory of which the investment has been made shall be available for the investor of the other Contracting Party on the basis of treatment no less favourable than that accorded to investments of its own investors or investors of any third State, whichever is more favourable to the investor. (3) If the dispute cannot thus be settled within nine (9) months from the date on which the dispute has been raised formally by either party, it shall be submitted upon request of the investor or the Contracting Party to 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 in Washington on 18 March 1965. (4) The award made by ICSID shall be final and binding on the parties to the dispute. Each Contracting Party shall ensure the recognition and enforcement of the award in accordance with its relevant laws and regulations.

Settlement of investment 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 by negotiations. 2. If a dispute under paragraph 1 of this Article cannot be settled within six (6) months of a written notification, the dispute shall upon the request of the investor settled as follows: a) by a competent court of the 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 18th 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 consent implies the renunciation of the requirement that the internal administrative or judicial remedies should be exhausted; or c) by arbitration by three arbitrations 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; it shall be executed according to national law; 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 investment. Disputes between a Contracting Party and an Investor of the other Contracting Party 1. Any dispute between a Contracting Party and an investor of the other Contracting Party relating to an investment made under this Agreement including that concerning expropriation of investments shall, as far as possible, be settled (a) amicably through 'negotiations between the parties to the dispute, or (b) through recourse to any other local remedy, save that provided under paragraph 2 of this Article, available under the laws and regulations of the Contracting Party in the territory of which the investment has been made. 2. Any such dispute which has not been settled under paragraph 1 of this Article within a period of six months from written notification of a claim may, if both parties agree, be submitted for resolution, in accordance with the law of the Contracting Party which has admitted investment to that Contracting Party's competent judicial authority. 3. Should the parties fail to agree on a dispute settlement procedure provided under paragraph 2 of this Article, the dispute shall be referred to International Arbitration upon the request of either party. The Arbitration procedure shall be as follows : (a) to the International Centre for Settlement of Investment Disputes (ICSID), if the Contracting Party of the investor and the other Contracting Party are both parties to the Convention on the Settlement of Investment Disputes between States and National of other States, 1965; (b) to the ICSID Additional Facility for the Administration of Conciliation, Arbitration and Fact-Finding Proceedings; or (c) to an ad hoc arbitral tribunal in accordance with the Arbitration, Rules of the United Nations Commission on International Trade Law, 1976, subject to the following modifications : (i) The appointing authority under Article 7 of the Rules shall be the President, the Vice President or the next seniorJudge of the International Court of Justice, who is not a national of either Contracting Party. The third arbitrator shall not be a national of either Contracting Party. (ii) The parties shall appoint their respective arbitrators within two months. (iii) The arbitral award shall be made in accordance with the provisions of this Agreement. (iv) The arbitral tribunal shall state the basis of its decision and give reasons upon the request of either party. (v) Each party concerned shall bear the cost of its own arbitrator and its representation in the arbitral proceedings. Th...

Settlement of investment. Disputes between a Contracting Party and a National or Company of the Other Contracting Party 1. Disputes between a national or company of one Contracting Party and the other Contracting Party 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 at the first instance to the competent court of the Contracting Party for decision, or to international arbitration if either party to the dispute so wishes. 2. Where the dispute is referred to international arbitration, the national or company 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 (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 18th March, 1965 and the Additional Facility for the Administration of conciliation, Arbitration and Fact-Finding proceedings); or (b) an international arbitrator or ad hoc arbitration tribunal to be appointed by a special agreement between the parties or established under the Arbitration Rules of the United Nations Commission on International Trade Law. 3. 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 parties to the dispute 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. The parties to the dispute may agree in writing to modify these rules. 4. The Contracting Party which is a Party to a dispute may at no time during the procedure relating to the investment dispute invoke in its defence its immunity or the fact that a national or company has received, pursuant to an insurance contract, an indemnity covering all or part of the damages or losses incurred.