ARTICLE 7 SUBROGATION

ARTICLE 7
SUBROGATION

If a Contracting Party or its designated agency makes a payment to its investor under an insurance or guarantee it has contracted with respect to an investment in the territory of the other Contracting Party against non-commercial risks, the latter Contracting Party shall recognize the subrogation of the former Contracting Party or its designated agency to all the rights and claims of the investor. The former Contracting Party or its designated agency is entitled to exercise such rights and enforce such claims in accordance with the laws and regulations of the latter Contracting Party to the same extent as the investor would have been entitled to exercise or enforce.