Disputes between the contracting parties 1 Any dispute between the contracting parties concerning the interpretation or application of this Agreement shall as far as possible, be settled through negotiations between the two contracting parties. if the dispute cannot be settled in this way within six months from the beginning of negotiations, shall be submitted, at the request of either contracting party to an arbitral tribunal, in accordance with the terms of this article.
Disputes between the contracting parties relating to the interpretation or application of this agreement
Disputes between the contracting parties Disputes between the Contracting Parties concerning the interpretation or application of this Agreement, should be settled through diplomatic channels, Which may include, if both Contracting Parties so desire, referral to the Joint Committee on Investments as per Article 15, composed of representatives of both Contracting Parties or to conciliation. If a dispute according to paragraph 1 of this Article cannot be settled within six (6) months from notification of this dispute it may, upon the request of either Contracting Party, be submitted to an arbitral tribunal. Such an arbitral tribunal shall be constituted for each case in the following way: within two (2) months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the tribunal. The two arbitrators shall then select a national of a third state on approval of the two Contracting Parties, and this person shall be Chairman of the tribunal. The Chairman shall be appointed within two (2) months from the date of appointment of the other two members. All arbitrators shall be nationals of states having diplomatic relations with both Contracting Parties. If, within the periods specified in paragraph 3 of this Article, the necessary appointments have not been made, either Contracting Party may, in the absence of any other agreement, invite the Secretary General of the Permanent Court of Arbitration at the Hague (hereinafter; the PCA) to make any necessary appointments. If the Secretary General of the PCA is a national of either Contracting Party or is otherwise prevented from discharging the said function, then the Deputy Secretary General of the PCA who is not a national of either Contracting Party shall be invited to make the necessary appointments. All arbitrators shall be nationals of states having diplomatic relations with both Contracting Parties. Unless otherwise agreed, the arbitration shall be conducted in accordance with the UNCITRAL arbitration rules as revised in 2010. Unless otherwise agreed, all submissions shall be made and all hearings shall be completed within six (6) months of the date of selection of the Chairman, and the arbitral panel shall render its written and reasoned decisions within two (2) months of the date of the final submissions or the date of the closing of the hearings, whichever is later. The arbitral tribunal shall reach its decision by a majority vote. Such decision shall be binding on both Contracting Parties. Each Contra...
Disputes between the contracting. Parties concerning the interpretation or applica- tion of this Agreement shall be settled as far as possible through diplomatic channels.
