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Investment Agreements in the Western Hemisphere: A Compendium

Trade and Integration Agreements


VII. Settlement of Disputes Between a Contracting Party and an Investor | A. Pre-Arbitral Consultations

North American Free Trade Agreement (NAFTA)

The disputing parties should first attempt to settle a claim through consultation or negotiation. (Article 1118).

Free Trade Agreement of the Group of Three among Mexico, Colombia, and Venezuela (Group of Three)

The dispute settlement mechanism is applicable to investment claims made by an investor of a Party (disputing investor) against a Party (disputing Party) with respect to the breach of an obligation set forth in Chapter XVII (Investment), from the date of entry into force of the Treaty. This does not exclude the disputing investor and the disputing Party (disputing parties) from attempting to settle the dispute through consultation or negotiation. (Article 17-16(2)).

Common Market of the South (MERCOSUR)

Members
Any dispute relating to investments between an investor of one Contracting Party and the host Contracting Party will, to the extent possible, be settled amicably. If it is not possible to settle the dispute within a period of six months, it will be submitted, at the request of the investor, to one of the following mechanisms: a) to the competent tribunals of the host party; or b) to international arbitration in accordance with Article 9 (4); or (c) to the permanent dispute settlement mechanism that eventually will be established within the framework of the Treaty of Asuncion. Election by the investor of either one of these procedures shall be definitive. (Article 9 (1)(2)(3) of the Colonia Protocol).

Non-Members
Any dispute relating to investments between an investor of a Third State and Member State will, to the extent possible, be settled amicably. If it is not possible to settle the dispute within a reasonable period of time, it could be submitted, at the request of the investor, to the competent tribunals of the host party or to international arbitration in accordance with Article H (3). Election by the investor of either one of these procedures shall be definitive. (Article 2 (H)(1)(2) of the Buenos Aires Protocol).

Andean Pact


Caribbean Community and the Caribbean Common Market (CARICOM)


 
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