ALCA FTAA ZLEA - Investment: Expropriation - Grenada/United States

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Investment Agreements in the Western Hemisphere: A Compendium

Treaty Between Grenada and United States
2 May 1986

Subject: V. Expropriation

A. Definition

1. Covered Expropriatory Measures Expropriation or nationalization (directly or indirectly through measures tantamount to expropriation or nationalization). (Article III (1)).

B. Conditions

1. Public Purpose and Non-Discrimination
Yes. (Article III (1)).

2. Due Process of Law and Judicial Review
Yes. Review can be made by the appropriate judicial or administrative authorities of the expropriating host Party. (Article III (1) (2)).

3. Other
Expropriation has to be made in accordance with the general principles of treatment provided for in Article II (2). (Article III (1)). See supra.

4. Compensation: Standard; Form and Time of Payment
"Prompt, adequate and effective compensation" Compensation shall: . be equivalent to the fair market value of the expropriated investment immediately before the expropriatory action was taken or became known; . include interests at a commercially reasonable rate from the date of expropriation; . be made without delay; . be fully realizable and freely transferable at the prevailing market rate of exchange at the date of expropriation. (Article III (1)).


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