Common use of Settlement of Investment Disputes Clause in Contracts

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit to 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 D.C. on 18 March 1965 any dispute arising between that Contracting Parry and an investor of the other Contracting Party which involves: (i) An obligation entered into that Contracting Party with the investor 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. 2. A company which is incorporated or constituted under the laws in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors of the other Contracting Party shall in accordance with Article 25(2)(b) of the Convention be treated for the purpose of this Convention as a company of the other Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels any dispute referred to the Centre unless: (i) The Secretary General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit to 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 D.C. on 18 March 1965 any dispute arising between that Contracting Parry Party and an investor of the other Contracting Party which involves: (i) An obligation entered into by that Contracting Party with the investor 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. 2. A company which is incorporated or constituted under the laws law in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors of the other Contracting Party shall in accordance with Article 25(2)(b25 ( 2) ( b) of the Convention be treated for the purpose purposes of this the Convention as a company of the other Contracting Party. (i) If any dispute of the type referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute amicably through consultation and negotiation. . (ii) If the dispute cannot thus be resolved within three (3) monthsmonths from the date at which it occurred, then if it shall be submitted at the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute investor: (a) Either to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute; or (b) To international arbitration as provided for in paragraph 1 of this Article. (iiiii) Once the investor has submitted the dispute to either the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute; or to international arbitration as provided under paragraph 1 of this Article, the election of one or the other procedure will be final. (iv) The arbitration decision shall be final and binding on both parties. (v) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, in the case where the dispute is referred to international arbitration, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defencedef ence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels any channels a dispute referred to the Centre unless: (i) The Secretary Secretary-General of the Centre, Centre or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Other Contracting Party (1. ) Each Contracting Party consents shall consent to submit any disputes or differences that may arise out of or in relation to investments made by a national or a company of the International Centre for the Settlement of Investment Disputes (hereinafter referred other Contracting Party to as "the Centre") for settlement by conciliation or arbitration under in accordance with the provisions of the Convention on the Settlement of Investment Disputes between States and Nationals of other States opened open for signature at Washington D.C. Washington, D.C., on 18 18th March 1965 any dispute arising between that Contracting Parry and an investor 1965, at the request of the other Contracting Party which involves:such national or company. (i2) An obligation entered into that Contracting Party with the investor 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. 2. A company which is incorporated or constituted under the laws law in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors nationals or companies of the other Contracting Party shall in accordance with Article 25(2)(b25 (2) (b) of the Convention be treated for the purpose purposes of this the Convention as a company of the other Contracting Party. (i3) If any such dispute referred to in paragraph 1 should arise, the Contracting Party arise and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If agreement cannot be reached or the dispute cannot thus be resolved finally disposed of within three (3six(6) monthsmonths between the parties to this dispute through pursuit of local remedies or otherwise, then if then, the investor concerned national or company affected having also consents consented in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary Secretary-General of the Centre as set forth provided in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii4) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of national or company affected shall have the investor concerned shall prevail. right to choose. (5) The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off objection at any stage of the proceedings or enforcement of an award the fact that the investor national or company which is the other party to the dispute has received or will receive, pursuant to in pursuance of an insurance or guarantee contract, contract an indemnity in respect of some or other compensation for all or part of his or its losses and damageslosses. 4. (6) Neither Contracting Party shall pursue through diplomatic charinels channels any dispute referred to the Centre unless: (ia) The Secretary the Secretary-General of the Centre, Centre or a conciliation commission Conciliation Commission or an arbitral tribunal Arbitral Tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; , or (iib) The the other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunalArbitral Tribunal.

Settlement of Investment Disputes. (1) A dispute between a an investor of one Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit concerning an investment of the former in the territory of the latter which has not been settled amicably, shall, after a period of six months from written notification of the claim, be submitted to the International Centre for the Settlement of Investment Disputes (hereinafter referred Disputes, established pursuant 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 Other States opened (the “ICSID Convention”). In respect of any matter pertaining to the claim that is not regulated by this Agreement, the ICSID Convention shall govern. (2) If consultations do not result in a solution within six months from the date of request for signature at Washington D.C. on 18 March 1965 any consultations and if the investor concerned gives a written consent, the dispute arising between shall be submitted to the International Centre for Settlement of Investment Disputes. Each party may start the procedure by addressing a request to that Contracting Parry and an investor effect to the Secretary-General of the other Centre as foreseen by Articles 28 and 36 of the abovementioned Convention. Should the parties disagree on whether conciliation or arbitration is the most appropriate procedure, the investor concerned shall have the choice. The Contracting Party which involves:is party to the dispute can, at no time whatsoever during the settlement procedure or the execution of the award, allege the fact that the investor has received, by virtue of an insurance contract, a compensation covering the whole or part of the incurred damage. (i3) An obligation entered into A Tribunal may order an interim measure of protection to preserve the rights of a disputing party, or to ensure that Contracting Party with the investor Tribunal's jurisdiction is made fully effective, including an order to preserve evidence in the possession or control of a disputing party or to protect the Tribunal's jurisdiction. A Tribunal may not order attachment or enjoin the application of the other Contracting Party regarding measure alleged to constitute a breach of this Treaty. For purposes of this paragraph, an investment by such investor; ororder includes a recommendation. (ii4) An alleged breach of any right conferred or created by this Agreement with respect to an investment by such investor. 2. A company which is has been incorporated or constituted under according to the laws in force in the territory of one once Contracting Party and in which before such a dispute arises was under the majority ownership or control of shares are owned by investors of the other Contracting Party shall shall, in accordance with Article 25(2)(b25 (2) (b) of the Convention ICSID Convention, be treated for the purpose of this Convention as a company of the other Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels any dispute referred to the Centre unless: (i) The Secretary General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit to the International Centre for the Settlement of Investment Disputes (hereinafter referred to as "the Centre") for settlement by conciliation or arbitration under the underthe Convention on the Settlement of Investment Disputes between States and Nationals of other States opened for signature forsignature at Washington D.C. on 18 March 1965 any dispute arising between that Contracting Parry Party and an investor of the other Contracting Party which involves: (i) An obligation entered into by that Contracting Party with the investor of the other Contracting Party regarding an investment by such investor; or (ii) An an alleged breach of any right conferred or created by this Agreement with respect to an investment by such investor. 2. A company which is incorporated or constituted under the laws in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors of the other Contracting Party shall in accordance with Article 25(2)(b) of the Convention be treated for the purpose of this Convention as a company of the other Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary Secretary-General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned thatthe investorconcerned has not submitted notsubmitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned investorconcerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels channels any dispute referred to the Centre unless: (i) The Secretary the Secretary-General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The the other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor a National or Company of the other Contracting Party 1. Each Any dispute between a national or company of either Contracting Party consents with respect to submit investment within the territory of the latter Contracting party shall, as far as possible, be settled amicably through consultation and negotiation between the parties to the International Centre dispute. 2. If a dispute concerning the amount of compensation referred to in the provisions of paragraph (c) of Article 5 between a national or company of either Contracting Party and the other Contracting Party can not be settled within six months from the date on which either party requests consultation for the settlement, such dispute shall, at the request of such national or company, be submitted to a conciliation board or an arbitration board, to be established with reference to the Convention on the Settlement of Investment Investments Disputes between States and Nationals of Other States done at Washington on March 18, 1965 (hereinafter referred to as "the CentreWashington convention"). Any dispute concerning other matters between a national or company of either Contracting Party and the Other Contracting Party may be submitted by agreement, to a conciliation board or an arbitration board as stayed above. In the event that such national or company has resorted to administration or judicial settlement within the territory of the latter Contracting Party, such dispute shall not be submitted to arbitration.paragraph (c) of Article 5 between a national or company of either Contracting Party and the other Contracting Party can not be settled within six months from the date on which either party requests consultation for settlement by the settlement, such dispute shall, at the request of such national or company, be submitted to a conciliation board or an arbitration under board, to be established with reference to the Convention on the Settlement of Investment Investments Disputes between States and Nationals of other Other States opened for signature done at Washington D.C. on 18 March 18, 1965 any (hereinafter referred to as "the Washington convention"). Any dispute arising concerning other matters between a national or company of either Contracting Party and the Other Contracting Party may be submitted by agreement, to a conciliation board or an arbitration board as stayed above. In the event that Contracting Parry and an investor such national or company has resorted to administration or judicial settlement within the territory of the other latter Contracting Party which involves:Party, such dispute shall not be submitted to arbitration. (i) An obligation entered into that Contracting Party 3. The conciliation or arbitration board referred to in the provisions of paragraph 2 of this Article shall be composed of three arbitrations, with each party appointing one arbitrations within a period of sixty days from the investor date of receipt by either party from the party of a notice requesting arbitration of the other dispute referred to in the provisions of paragraph 2 of this Article and the third arbitrator to be agreed upon as the President of the arbitration board by the two arbitrators so chosen within a further period of ninety days, provided that the third arbitrator shall not be a national of either Contracting Party regarding an investment Party.paragraph 2 of this Article shall be composed of three arbitrations, with each party appointing one arbitrations within a period of sixty days from the date of receipt by such investor; or (ii) An alleged breach either party from the party of any right conferred or created a notice requesting arbitration of the dispute referred to in the provisions of paragraph 2 of this Article and the third arbitrator to be agreed upon as the President of the arbitration board by this Agreement with respect to an investment by such investorthe two arbitrators so chosen within a further period of ninety days, provided that the third arbitrator shall not be a national of either Contracting Party. 24. A company It the third arbitration is not agreed upon between the arbitrations appointed by each party within the period referred to in provisions of paragraph (3) of the present Article, either party shall request the third part agreed upon in advance by both parties to appoint the third arbitration who shall be a national of a third country which is incorporated or constituted under has diplomatic relations with both Contracting Parties.paragraph (3) of the present Article, either party shall request the third part agreed upon in advance by both parties to appoint the third arbitration who shall be a national of a third country which has diplomatic relations with both Contracting Parties. 5. The arbitral procedures shall be determined by the arbitrations board with reference to the Washington Convention. 6. The decision of the arbitration board shall be final and binding. Execution of decision of the arbitration board shall be governed by the laws and regulations concerning the execution of decision in force in the territory State in whose territories such execution is sought. The arbitration board shall state the basis of one Contracting Party its decision and state the reasons at the request of either party. 7. Each party shall bear the cost of its own arbitrations and its representation in which before such a dispute arises the majority of shares are owned by investors arbitral proceedings. The cost of the other Contracting Party President of the arbitration board in discharging his duties and the remaining costs of the arbitration board shall be borne equally by the parties concerned. 8. When and after a case is submitted to the arbitration board referred to in accordance with Article 25(2)(bthe provisions of paragraph (2) of the Convention present Article, no claim concerning such case shall be treated for the purpose of this Convention as a company made between States.paragraph (2) of the other Contracting Partypresent Article, no claim concerning such case shall be made between States. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels any dispute referred to the Centre unless: (i) The Secretary General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit to 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 D.C. on 18 March 1965 any dispute arising between that Contracting Parry Party and an investor of the other Contracting Party which involves: (i) An obligation entered into by that Contracting Party with the investor 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. 2. A company which is incorporated or constituted under the laws in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors of the other Contracting Party shall in accordance with Article 25(2)(b25 (2) (b) of the Convention be treated for the purpose of this Convention as a company of the other Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. : If the dispute cannot thus be resolved resolve within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement Settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary Secretary-General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels channels any dispute referred to the Centre unless: (i) The Secretary Secretary-General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit to 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 D.C. on 18 March 1965 any dispute arising between that Contracting Parry Party and an investor of the other Contracting Party which involves: (i) An an obligation entered into by that Contracting Party with the investor of the other Contracting Party regarding an investment by such such-investor; or (ii) An an alleged breach of any right conferred or created by this Agreement with respect to an investment by such investor. 2. A company which is incorporated or constituted under the laws in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors of the other Contracting Party shall in accordance with Article 25(2)(b) of the Convention be treated for the purpose of this Convention as a company of the other Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary Secretary-General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, * the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all air or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels channels any dispute referred to the Centre unless: (i) The Secretary the Secretary-General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the ine jurisdiction of the Centre; or (ii) The the other Contracting Party should fail to abide by or to comply with With any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. (1) A dispute between a an investor of one Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit concerning an investment of the former in the territory of the latter which has not been settled amicably, shall, after a period of six months from written notification of the claim, be submitted to the International Centre for the Settlement of Investment Disputes Disputes, instituted by the Convention of Washington of 18 March 1965, for the settlement of investment disputes between States and nationals of other States. (hereinafter referred 2) If these consultations do not result in a solution within six months from the date of request for consultations and if the investor concerned gives a written consent, the dispute shall be submitted to the International Centre for Settlement of Investment Disputes, instituted by the Convention of Washington of March 18, 1965 for the settlement of investment disputes between States and nationals of other States. Each party may start the procedure by addressing a request to that effect to the Secretary-General of the Centre as "foreseen by Articles 28 and 36 of the Centre") for settlement by abovementioned Convention. Should the parties disagree on whether conciliation or arbitration under is the Convention on most appropriate procedure, the Settlement of Investment Disputes between States and Nationals of other States opened for signature at Washington D.C. on 18 March 1965 any dispute arising between that Contracting Parry and an investor of concerned shall have the other choice. The Contracting Party which involves:is party to the dispute can, at no time whatsoever during the settlement procedure or the execution of the award, allege the fact that the investor has received, by virtue of an insurance contract, a compensation covering the whole or part of the incurred damage. (i3) An obligation entered into A Tribunal may order an interim measure of protection to preserve the rights of a disputing party, or to ensure that Contracting Party with the investor Tribunal's jurisdiction is made fully effective, including an order to preserve evidence in the possession or control of a disputing party or to protect the Tribunal's jurisdiction. A Tribunal may not order attachment or enjoin the application of the other Contracting Party regarding measure alleged to constitute a breach of this Treaty. For purposes of this paragraph, an investment by such investor; ororder includes a recommendation. (ii4) An alleged breach of any right conferred or created by this Agreement with respect to an investment by such investor. 2. A company which is has been incorporated or constituted under according to the laws in force in the territory of one once Contracting Party and in which before such a dispute arises was under the majority ownership or control of shares are owned by investors of the other Contracting Party shall shall, in accordance with Article 25(2)(b25 (2) (b) of the Convention of Washington of March 18, 1965, be treated for the purpose of this Convention as a company of the other Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels any dispute referred to the Centre unless: (i) The Secretary General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit to 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 D.C. on 18 March 1965 any dispute arising between that Contracting Parry Party and an investor of the other Contracting Party which involves: (i) An obligation entered into by that Contracting Party with the investor 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. 2. A company which is incorporated or constituted under the laws in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors of the other Contracting Party shall in accordance with Article 25(2)(b) of the Convention be treated for the purpose of this Convention as a company of the other Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary Secretary-General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels channels any dispute referred to the Centre unless: (i) : The Secretary Secretary-General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party (1. ) Each Contracting Party consents shall consent to submit any disputes or differences that may arise out of or in relation to investments made by a national or a company of the International Centre for the Settlement of Investment Disputes (hereinafter referred other Contracting Party to as "the Centre") for settlement by conciliation or arbitration under in accordance with the provisions of the Convention on the Settlement of Investment Disputes between States and Nationals of other States opened open for signature at Washington D.C. Washington, D.C., on 18 18th March 1965 any dispute arising between that Contracting Parry and an investor 1965, at the request of the other Contracting Party which involves:such national or company. (i2) An obligation entered into that Contracting Party with the investor 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. 2. A company which is incorporated or constituted under the laws law in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors nationals or companies of the other Contracting Party shall in accordance with Article 25(2)(b25 (2) (b) of the Convention be treated for the purpose purposes of this the Convention as a company of the other Contracting Party. (i3) If any such dispute referred to in paragraph 1 should arise, the Contracting Party arise and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If agreement cannot be reached or the dispute cannot thus be resolved finally disposed of within three (3six(6) monthsmonths between the parties to this dispute through pursuit of local remedies or otherwise, then if then, the investor concerned national or company affected having also consents consented in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary Secretary-General of the Centre as set forth provided in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii4) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of national or company affected shall have the investor concerned shall prevail. right to choose. (5) The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off objection at any stage of the proceedings or enforcement of an award the fact that the investor national or company which is the other party to the dispute has received or will receive, pursuant to in pursuance of an insurance or guarantee contract, contract an indemnity in respect of some or other compensation for all or part of his or its losses and damageslosses. 4. (6) Neither Contracting Party shall pursue through diplomatic charinels channels any dispute referred to the Centre unless: (ia) The Secretary Secretary-General of the Centre, Centre or a conciliation commission Conciliation Commission or an arbitral tribunal Arbitral Tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; , or (iib) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunalArbitral Tribunal.

Settlement of Investment Disputes. 1. Any investment dispute between a Contracting Party and an Investor investor of the other Contracting PartyParty shall be notified in writing by the most expeditious party. To the extent possible, this diffdrend shall be settled by agreement between the parties to the dispute. 12. Each In the absence of an amicable settlement by direct arrangement between the parties to the dispute by conciliation or through diplomatic channels within six months from the date of the written notification, the dispute shall be submitted, at the choice of the investor, to the national jurisdiction of the Contracting Party consents in whose territory investment has been made or to submit international arbitration. In the latter case, the dispute shall be submitted to the International Centre for the Settlement of Investment Disputes (hereinafter referred to as ICSID), established by the "the Centre") for settlement by conciliation or arbitration under the Convention on the Settlement of Investment Disputes between States and Nationals of other States Other States", opened for signature at Washington D.C. Washington, on 18 March 1965 1965. To this end, each Contracting Party shall, under the terms of this Agreement, its irrevocable consent to any dispute arising between relating to investments may be submitted to arbitration. This consent implies that Contracting Parry and an investor they shall waive the requirement of the other Contracting Party which involves: (i) An obligation entered into that Contracting Party with the investor exhaustion of the other Contracting Party regarding an investment by such investor; or (ii) An alleged breach of any right conferred administrative or created by this Agreement with respect to an investment by such investorjudicial remedies. 23. A company which is incorporated or constituted under the laws in force in the territory of one Contracting Party and in which before such a dispute arises the majority of shares are owned by investors of the other Contracting Party shall in accordance with Article 25(2)(b) of the Convention be treated for the purpose of this Convention as a company of the other Neither Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not can raise as an objection, defence, or right of set-off at any stage of the arbitration proceedings or enforcement of an award arbitration award, the fact that the investor which is the other investor, opposing party to in the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all covering the whole or part of his or its losses and damagesby virtue of an insurance policy or to the guarantee provided for in article 7 of this Agreement. 4. Neither The arbitral tribunal shall decide on the basis of the national law of the Contracting Party party in the dispute in whose territory the investment is located, including the rules relating to conflicts of law, the provisions of this Agreement, the terms of the specific agreement which would be reached on investment as well as the Principles of International Law 5. The arbitration awards shall pursue through diplomatic charinels any dispute referred be final and binding on the parties to the Centre unless: (i) The Secretary General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The other dispute. Each Contracting Party should fail undertakes to abide by or to comply execute the decisions in accordance with any award rendered by an arbitral tribunalits national 1égislation.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party 1. Each Contracting Party consents to submit to 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 Nationals: of other States opened for signature at Washington D.C. on 18 March 1965 any dispute arising between that Contracting Parry Party and an investor of the 1 other Contracting Party which involves: (i) An an obligation entered into by that Contracting Party with the investor of the other Contracting Party regarding an investment by such investor; or (ii) An an alleged breach of any right conferred or created by this Agreement with respect to an investment by such investor. 2. A company which is incorporated or constituted under the laws in force in the territory of one Contracting Party and in which before such a i dispute arises the majority of shares are owned by investors of the other Contracting Party shall in accordance with Article 25(2)(b) of the Convention be treated for the purpose of this Convention as a company of the other Contracting Party. (i) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve i the dispute through consultation and negotiation. If the dispute cannot thus be resolved within three (3) months, then if the investor concerned also consents in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings proceedings; by addressing a request to that effect to the Secretary Secretary-General of the Centre as set forth in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, the opinion of the investor concerned shall prevail. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or or, right of set-off at any stage of the proceedings or enforcement of an award the fact that the investor which is the other party to the dispute has received or will receive, pursuant to an insurance or guarantee contract, an indemnity or other compensation for all ail or part of his or its losses and damages. 4. Neither Contracting Party shall pursue through diplomatic charinels channels any dispute referred to the Centre unless: (i) The Secretary the Secretary-General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the jurisdiction of the Centre; or (ii) The the other Contracting Party should fail to abide by or to comply j with any award rendered by an arbitral tribunal.

Settlement of Investment Disputes. between a Contracting Party and an Investor of the other Contracting Party (1. ) Each Contracting Party hereby consents to submit to 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 Other States opened for signature at Washington D.C. on 18 March 1965 1965(1) any legal dispute arising between that Contracting Parry Party and an investor a national or company of the other Contracting Party which involves:concerning an investment of the latter in the territory of the former. (i2) An obligation entered into that Contracting Party with the investor 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. 2. A company which is incorporated or constituted under the laws law in force in the territory of one Contracting Party and Party, in which before such a dispute arises the majority of shares are owned by investors nationals or companies of the other Contracting Party shall shall, in accordance with Article 25(2)(b) of the Convention Convention, be treated treated, for the purpose of this Convention the Convention, as a company of the other Contracting Party. (i3) If any dispute referred to in paragraph 1 should arise, the Contracting Party and the investor concerned shall seek to resolve the dispute through consultation and negotiation. If agreement cannot be reached or the dispute cannot thus be resolved finally disposed of within three (3) monthsmonths between the parties to this dispute through pursuit of local remedies or otherwise, then if then, the investor concerned national or company affected having also consents consented in writing to submit the dispute to the Centre for settlement by conciliation or arbitration under the Convention, either party to the dispute may institute proceedings by addressing a request to that effect to the Secretary Secretary-General of the Centre as set forth provided in Articles 28 and 36 of the Convention, provided that the investor concerned has not submitted the dispute to the courts of justice or administrative tribunals or agencies of competent jurisdiction of the Contracting Party that is party to the dispute. (ii) . In the event of disagreement as to whether conciliation or arbitration is the more appropriate procedure, procedure the opinion of national or company affected shall have the investor concerned shall prevailright to choose. The Contracting Party which is a party to the dispute shall not raise as an objection, defence, or right of set-off objection at any stage of the proceedings or enforcement of an award the fact that the investor national or company which is the other party to the dispute has received or will receive, pursuant to in pursuance of an insurance or guarantee contract, contract an indemnity in respect of some or other compensation for all or part of his or its losses and damageslosses. (4. ) Neither Contracting Party shall pursue through diplomatic charinels channels any dispute referred to the Centre unless: (ia) The Secretary Secretary-General of the Centre, or a conciliation commission or an arbitral tribunal constituted by it, decides that the dispute is not within the die jurisdiction of the Centre; , or (iib) The other Contracting Party should fail to abide by or to comply with any award rendered by an arbitral tribunal.