ALCA FTAA ZLEA - Bilateral Investment Treaties: Dispute Settlement - Argentina/Canada

ALCA FTAA ZLEA - Bilateral Investment Treaties: Dispute Settlement - Argentina/Canada

Free Trade Area of the Americas - FTAA

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Investment Agreements in the Western Hemisphere: A Compendium

Agreement Between Argentina and Canada
5 November 1991

Subject: VII. Settlement of Investment Disputes

A. Definition

B. Pre-Arbitral Consultations and Dispute Settlement Mechanisms
Disputes which arise between an investor of one Party and the other Party with regard to an investment of the former, which have not been amicably settled, shall be submitted, at the request of one of the Parties involved, to the decision of the competent tribunal of the Party in whose territory the investment was made. (Article X (1)).

C. Arbitral Settlement of Disputes

1. Conditions
Investment disputes may be submitted to international arbitration by one of the parties of the dispute when: . the Contracting Party and the investor have so agreed; . eighteen months have elapsed without the competent tribunal having given its final decision; . the final decision of the tribunal has been made but the parties are still in dispute. (Article X (2)).

3. Forms de Arbitration
The investor and the Contracting Party concerned in the dispute may agree to refer the dispute either to: a) ICSID, provided that the Contracting Parties are party to the ICSID Convention, and to the Additional Facility of the Center; b) an international arbitrator or ad hoc arbitration tribunal appointed by a special agreement or established under the UNCITRAL Arbitration Rules. If after a period of three months an agreement has not been reached on the procedure, the parties shall be bound to submit it to arbitration under the UNCITRAL Arbitration Rules. (Article X (3)).

4. Applicable Law The arbitral tribunal shall decide the dispute in accordance with the provisions of the Agreement; with reference to the laws of the Contracting Party involved in the dispute; terms of any specific agreement concluded in relation to such an investment; and, principles of international law. (Article X(4)). Argentina/Chile


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