Free Trade Area of the Americas - FTAA |
|
Declarations |
Committee |
Committees |
Facilitation |
Society |
Database |
Cooperation Program |
|||||
|
|||||||||||
B. Pre-Arbitral Consultations and Dispute Settlement Mechanisms
C. Arbitral Settlement of Disputes
2. Consent
The parties to the dispute should initially seek resolution through consultation and negotiation, which may include the use of non-binding, third-party procedures. If the dispute cannot be resolved through consultation and negotiation, it shall be submitted for settlement in accordance with applicable previously agreed to dispute settlement procedures. (Article VII(2)).
1. Conditions
Provided that the national or company has not submitted the dispute for resolution in accordance with any applicable previously agreed dispute settlement mechanism or before the courts of justice or administrative tribunals of the Party that is a party to the dispute, 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 to the ICSID Additional Facility for settlement by conciliation or binding arbitration. (Article VII(3)(a)).
Consent set out explicitly in Article (Article VII(3)(b)).