Article 7 Subrogation

Article 7
Subrogation

If a Contracting Party or its designated agency has granted to its investor a financial guarantee against non-commercial risks with respect to investments of such investor in the territory of the State of the other Contracting Party, and makes payment under such guarantee, the other Contracting Party shall recognize acquirement by the former Contracting Party or its designated agency by virtue of subrogation of all rights and claims of the investor. The Contracting Party or its designated agency shall not assert greater rights and claims than those of the investor from whom such rights and claims were acquired. Such rights and claims shall be exercised in accordance with the legislation of the State of the Contracting Party in which territory the investments are made.