Examples of Settlement Declaration in a sentence
A standing mechanism may also be entrusted with inter-State disputes on the interpretation/application of an investment treaty either as sole remedy or alternatively in addition to inter -State arbitration (See the Iran-U.S. Claims Tribunal (Claim Settlement Declaration (“CSD”), Article II(1), Article II(2), and Article II(3)); and the Arab Investment Court (see Unified Agreement, Articles 25 –36).
The Tribunal here invoked lex specialis so as to argue that “the terms of the Claims Settlement Declaration are so detailed and so clear that they must necessarily prevail over the purported intentions of the parties, whatever they could have been”.99 As such, the principle seems to have coalesced with the rule in favour of the “ordinary” meaning under article 31 (1) VCLT.
For instance, the instrument establishing the Iran–US Claims Tribunal, the Claims Settlement Declaration of Algiers, 19 January 1981, mentions neither the Tribunal’s international nor its domestic legal personality.
Article VII(2) of the Claims Settlement Declaration provides the criteria for determining whether a particular investment belongs to a protected investor and it does not “preclude a shareholder in a local company, injured by host-state measures, from bringing a claim in relation to its shareholding.
When the Iran-United States Claims Tribunal was confronted with the question of whether the Claims Settlement Declaration obliged the United States to return military property to Iran, inter alia, by referring to the subsequent practice of the parties, the Tribunal found that this treaty contained an implicit obligation of compensation in case of non-return.
The Iran-U.S. Claims Tribunal went on to hold that, any exception to the above customary rule must “presuppose the clearest possible expression” of the parties’ intentions, which was nowhere to be found in the Claims Settlement Declaration on which its jurisdiction was premised.
The Tribunal would observe, however, that the mere fact that “administrative jurisdiction cannot be selected by mutual agreement” does not prevent the investor agreeing by contract not to resort to any other forum.69 For an express provision see Article II(1) of the Claims Settlement Declaration, 19 January 1981, which expressly overrides exclusive jurisdiction clauses except for those relating to Iranian courts: 1 Iran-US CTR 9.
Rather, Article II (1) of the Claims Settlement Declaration grants the Tribunal jurisdiction over the “claims of nationals of the United States and of Iran.” The claimants, without government intervention, decided whether or not to file and argue claims on their own behalf to enforce State Party obligations, and without any generally applicable requirement of exhaustion of local remedies.
As with NAFTA, the language of the Claims Settlement Declaration provides no indication that the governments were to file claims on behalf of their nationals or that investors were enforcing rights of their home states.
VII (2) of the Algiers Claims Settlement Declaration); Liberian Eastern Timber Corporation (LETCO) v.