Article 8
Settlement of Disputes between a Contracting Party and Investors of the Other Contracting Party
1. Any disputes concerning investments between the investors of a Contracting Party and the other Contracting Party shall be settled if possible amicably through the negotiations and consultations.
2. If the disputes cannot be settled amicably by means of negotiations and consultations within period of six months starting from the date of the request for such consultations and negotiations by any party to the disputes, such disputes may be submitted at the choice of the investors for settlement:
a) to a competent court of the state of the Contracting Party in the territory of which the investments were made; or
b) to an ad hoc arbitration in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL); or
c) to the International Centre for Settlement of Investment Disputes, established under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States signed at Washington D.C. on 18 March 1965 provided that the Convention has entered into force for both Contracting Parties; or in accordance with the Additional Facility Rules of the International Centre for Settlement of Investment Disputes provided that the Convention has not entered into force for either Contracting Party or both.
3. An arbitration award shall be final and binding upon both parties to the dispute. Each Contracting Party ensures the enforcement of this award in accordance with its laws and regulations.