Common use of Submission of a Claim Clause in Contracts

Submission of a Claim. 1. If the dispute has not been settled within eight months from the date of notice of dispute, a claim may be submitted, at the discretion of the investor, to: (a) any competent court or administrative tribunal of the Party to the dispute; or (b) arbitration in accordance with this Section under: (i) the ICSID Convention, if the ICSID Convention is available; (ii) the ICSID Additional Facility Rules, if the ICSID Additional Facility Rules are available; (iii) the UNCITRAL Arbitration Rules; or (iv) if agreed by both parties to the dispute, any other arbitration institution or any other arbitration rules. 2. The respondent may require the claimant to initiate the domestic non-judicial administrative review procedure, in accordance with applicable laws and regulations of the respondent before submission of a claim for settlement under paragraph 1(b)12. 3. The claimant may only submit a claim to arbitration if the term established in paragraph 1 has elapsed, and if the claimant has delivered to the respondent, at least 90 days before the claim to arbitration is submitted, a written notice of its intention to submit a claim to arbitration (notice of intent). Such a notice shall specify: (a) the name and address of the claimant and its investment; (b) the provisions of this Chapter alleged to have been breached and any other related provisions; 12 Such procedure shall normally not exceed three months from the date of its initiation by the claimant and any decision made under the domestic administrative review procedure shall not prevent the claimant from submitting the investment dispute to the arbitration set out in paragraph 1. 8-11 (c) the legal and factual basis for the claim; and (d) the relief sought, including the approximate amount of any damages claimed. 4. Once the investor has submitted the dispute to either a competent court or administrative tribunal of the Party, in whose territory the investment has been admitted, or any of the arbitration mechanisms set out in paragraph 1, the choice of the procedure shall be final and the investor shall not submit the same dispute to a different forum.