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Article 9 Settlement of Disputes between a Contracting Party and an Investor of the Other Contracting Party

Article 9
Settlement of Disputes between a Contracting Party and an Investor of the Other Contracting Party

 

1. Disputes between a Contracting Party and an investor of the other Contracting Party relating to an investment of the latter in the territory of the former shall, as far as possible, be settled in an amicable way.

2. If such a dispute cannot be settled within six months from the date either party to the dispute requested amicable settlement, it shall be submitted by either party to the dispute for settlement:

a) in accordance with any previously agreed dispute-settlement procedures, or

b) by an ad hoc arbitration tribunal established under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL), as those Rules may be modified by the parties to the dispute (the Appointing Authority referenced therein to be the Secretary-General of the International Centre for the Settlement of Investment Disputes).

3. The decision of the arbitration shall be final and binding on the parties to the dispute.