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 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.

Appears in 19 contracts

Samples: Investment Agreement, Investment Agreement, Investment Agreement

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