ALCA FTAA ZLEA - Investment: Dispute Settlement - Jamaica/United States

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Investment Agreements in the Western Hemisphere: A Compendium

Treaty Between Jamaica and the United States
4 February 1994

Subject: VII. Settlement of Investment Disputes

A. Definition
An investment dispute is a dispute between a Party and a national or company of the other Party arising out of or relating to: a) an investment agreement between that Party and such national or company; b) an investment authorization granted by that Party's foreign investment authority to such national or company; or, c) an alleged breach of any right conferred or created by the Treaty with respect to an investment. (Article VI(1)).

B. Pre-Arbitral Consultations and Dispute Settlement Mechanisms
The parties to the dispute should initially seek resolution through consultation and negotiation. If the dispute cannot be settled amicably, the national or company may choose to submit the dispute for resolution: a) to the courts or administrative tribunals of the Party that is a party to the dispute; or b) in accordance with any applicable, previously agreed dispute settlement procedures; or c) to binding arbitration in accordance with Article VI(3). (Article IX(2)).

C. Arbitral Settlement of Disputes

1. Conditions
Provided that the national or company has not submitted the dispute for resolution under Article VI(2) a) or b) and six months have elapsed from the date on which the dispute arose, the national or company may choose to consent in writing to the submission of the dispute for settlement by binding arbitration. (Article VI(3)).

2. Consent
Consent set out explicitly in Article VI(4).

3. Forms de Arbitration
The submission of the dispute for settlement by binding arbitration may be made: i) to ICSID, provided that the Party is a party to the ICSID Convention; or ii) in accordance with UNCITRAL Arbitration Rules; or iii) to any other arbitration institution, or in accordance with other arbitration rules, as may be mutually agreed between the parties to the dispute. (Article VI(3)).

4. Applicable Law No reference.

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