TNAG-2826-FCO40-4079-Investment-Protection-and-Promotion-Agreements-(IPPA)-betwee-1993 — Page 77

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ARTICLE 11

Settlement of disputes between the Contracting Parties

15

И

(1)

If any dispute arises between the

the Contracting Parties

relating to the interpretation or application of this Agreement,

the Contracting Parties shall in the first place try to settle it

by negotiation.

(2)

If the Contracting Parties fail to reach a settlement of

the dispute by negotiation, it may be referred by them to such

person or body as they may agree on or, at the request of either

Contracting Party, shall be submitted for decision to a tribunal of

constituted in the following

three

manner:

arbitrators which shall be

for

(a) within sixty days after receipt of a request

arbitration, each Contracting Party shall appoint one arbitrator.

A national of a State which can be regarded as neutral in relation

to the dispute, who shall act as President of the tribunal, shall

be appointed as the third arbitrator by agreement between the two

arbitrators, within sixty days of the appointment of the second;

(b) if within the time limits specified above any appointment

has not been made, either Contracting Party may request the

President of the International Court of Justice, in a personal and

individual capacity, to make the necessary appointment within

thirty days. If the President considers that he is a national of a

State which cannot be regarded as neutral in relation to the

dispute, the Vice-President or the most senior member who is not

disqualified on that ground shall make the appointment.

(3)

Except as hereinafter provided in this Article or as

otherwise agreed by the Contracting Parties, the tribunal shall

determine the limits of its jurisdiction and establish its own

AUBT

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