Page:United States Statutes at Large Volume 115 Part 3.djvu/699

From Wikisource
Jump to: navigation, search
This page needs to be proofread.


PROCLAMATION 7449—JUNE 8, 2001 115 STAT. 2773 B. in accordance with any applicable, previously agreed dispute-settlement procedures, or C. in accordance with the tenns of paragraph 3. 3. A Provided that the national or company concerned has not submitted the dispute for resolution under sub-paragnph 2.A or B, and that ninety days have dapsed from the date on which the dispute arose, the national or company concerned may submit the dispute for settlement by binding arbitration: (i) to the Centre, ifboth Parties are members of the ICSIO Convention and the , Centre is available; or (ii) tothe Additional Fmdlity of the Centre, ifthe Additional Facilityis available; or (iii) in accordance with the UNCITRAL Arbitration Rules; or (iv) if agreed byboth parties to the dispute, to any other arbitration institution or in accordance with any other arbitration rules. B A national or company, ootwithstanding that it may have submitted adispute to binding arbitration under sub-paragraph 3 A, may seek interim injunctive relief, not involving the payment ofdamages, before thejudicial or administrativetribunals of a Part>-, prior to the institution of the arbitral proceeding or duringthe proceeding, for the preservation ofrightsand interests 4 Each Party hereby consents tothe submission of any Investment dispute for settlementby binding arbitration in accordance with the choice of the national or company under subparagraph 3. A(i),(ii),(iii) or the mutual agreement ofboth parties to the dispute under subparagraph 3. A(iv). This consent and the submission of thedispute bya national or company under sub-paragraph 3 A shall salisiy the requirement of A Article II of the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York, June 10, 1958, for an "agreement in writing," and B Chapter II of the ICSIDConvention (Jurisdiction of the Centre) and the Additional Facility Rules for written consent of the parties to the dispute 5 Any arbitration under sub-paragraph 3 A(ii),(iii) and (iv) shall be held in a state that is a party to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York, June 10. 1958 6 Any arbitral award rendered pursuant to this Chapter shall be final and binding on the parties to the dispute Each Party shall carry out writhout delay the provisions of any such award and provide in its territory for the enforcement of sueh award Each Party's f •• 4..