TNAG-2826-FCO40-4079-Investment-Protection-and-Promotion-Agreements-(IPPA)-betwee-1993 — Page 131

- 13 -

(4)

Except as otherwise agreed by the Contracting

Parties or prescribed by the tribunal, each Contracting

Party shall submit a memorandum within forty five days

after the tribunal is fully constituted. Replies shall be

due sixty days later. The tribunal shall hold a hearing at

the request of either Contracting Party, or at its

discretion, within thirty days after replies are due.

(5)

The tribunal shall attempt to give a written

decision within thirty days after completion of the hearing

or, if no hearing is held, after the date both replies are

submitted. The decision shall be taken by a majority' vote.

(6)

The Contracting Parties may submit requests for

clarification of the decision within fifteen days after it

is received and such clarification shall be issued within

fifteen days of such request.

(7)

The decision of the tribunal shall be binding on

the Contracting Parties.

(8)

Each Contracting Party shall bear the costs of

the arbitrator appointed by it. The other costs of the

tribunal shall be shared equally by the Contracting Parties

1