ARTICLE 10 Settlement of Disputes between the Contracting Parties

1. Disputes between the Contracting Parties concerning interpretation or application of the present Agreement shall be settled, as far as possible, amicably through consultations or negotiations between the Contracting Parties.

2. If the dispute cannot be settled amicably through consultations or negotiations between the Contracting Parties within six months from the date of a written request by either Contracting Party for consultations or negotiations it shall, upon the request of either Contracting Party, be submitted for consideration by an arbitrate tribunal.

3. The arbitrate tribunal shall be constituted for each individual case for which purpose each Contracting Party shall appoint one member of the arbitrate tribunal within two months from the date of the receipt of the request for arbitration. Those two members of the arbitrate tribunal shall then select a national of a third State who upon approval of the two Contracting Parties, shall be appointed Chairman of the arbitrate tribunal within two months from the date of the appointment of the latter of two members of the arbitrate tribunal.

4. If within the time-limits 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 between the Contracting Parties, invite the President of the International Court of Justice to make such appointments. If the President of the International Court of Justice is a national of the State of either Contracting Party or is otherwise unable to discharge the said function, the Vice-President of the International Court of Justice shall be invited to make the necessary appointments. If the Vice-President of the International Court of Justice is also a national of the State of either Contracting Party or is otherwise unable to discharge the said function, the member of the International Court of Justice next in seniority who is not a national of the State of either Contracting Party and is not otherwise prevented from discharging the said function shall be invited to make the necessary appointments.

5. The arbitrate tribunal shall reach its decision by a majority of votes. Such decision shall be final and binding upon the Contracting Parties. Each Contracting Party shall bear the costs of the activities of its own member of the arbitrate tribunal and of its representation in the arbitration proceedings. Costs related to the activities of the Chairman of the arbitrate tribunal and other costs shall be borne in equal parts by the Contracting Parties. The tribunal may, however, in its decision direct that a higher portion of costs shall be borne by one of the Contracting Parties and such decision shall be binding upon both Contracting Parties. The arbitrate tribunal shall determine its own rules of procedure independently.