TNAG-2827-FCO40-4080-Investment-Protection-and-Promotion-Agreements-(IPPA)-betwee-1993 — Page 135

CONFIDENTIAL

-

Parry.

Subrogation provisions are

Common feature of

agreements on investment promotion and protection.

The article

was added at the request of the French side. It was made clear,

again at

request of the French delegation, that a

Contracting

the

Party

which was a party to an investment dispute should not raise as an objection the fact that the investor

concerned had been indemnified.

ARTICLE 11 : Disputes between the Contracting Parties

22.

This article

is based on Article 9 of the Hong Kong model, but with the following minor changes to the detailed procedures laid down for dispute settlement :-

(a) in Article 11(2) (Article 9(2) of the Hong Kong model), a reference wag added indicating that the Contracting

would submit the dispute to an arbitral

tribunal if they

three months".

(b)

Parties

could not reach a settlement "within

The French took the view that an indication of the timeframe would be helpful;

the second

Kong model

tribunal was amended, replacing "A national of a state

which can be regarded as neutral in relation to the dispute" with "A national of another state";

sentence of sub-paragraph 2 (a) of the Hong

which referred to the President of the

(c) at the request of the French delegation, the President of the International Chamber of Commerce, instead of

the President of the International Court of Justice,

would be invited

the

The

tribunal on

French side

to make the necessary appointment to a personal and individual capacity.

took the view that the latter was not

appropriate a8 the appointing authority. In case the President 18

not regarded as neutral, the "most senior

member" would make the

(2) (6) of the

initialled

the Hong Kong model);

appointment (sub-paragraph

text and Article 9(2)(b) ot

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