Common use of Settlement of investment Clause in Contracts

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.