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Addis Ababa, Ethiopia 227 February 2015
STUDY MATERIALS INTERNATIONAL INVESTMENT LAW
Codification Division of the United Nations Office of Legal Affairs
Copyright United Nations, 2014
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Addis Ababa, Ethiopia 227 February 2015
JUDGE JOAN DONOGHUE
Codification Division of the United Nations Office of Legal Affairs
Copyright United Nations, 2014
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INTERNATIONAL INVESTMENT LAW JUDGE JOAN DONOGHUE
Research Guide for International Investment Law 10 Basic reference materials 1. Convention on the Settlement of Investment Disputes between States and Nationals
of Other States (ICSID Convention), Regulations and Rules, as amended in 2006 18
2. ICSID Additional Facility Rules, as amended in 2006 80 3. Office of the Spokesperson of the U.S. Department of State, Fact Sheet on the United
States Model Bilateral Investment Treaty, 20 April 2012 116
4. United States Model Bilateral Investment Treaty, 2012 120 5. South African Development Community (SADC) Model Bilateral Investment Treaty
Template with Commentary, July 2012 164
6. United Nations Conference on Trade and Development (UNCTAD), Investment Policy Framework for Sustainable Development, 12 July 2012
248
Other background materials (not reproduced here)
A. UNCTAD Series on Issues in International Investment Agreements (Pink Series) 7. International Investment Agreements: Key Issues, vol. I, 2004, UNCTAD Series on
issues in international investment agreements (United Nations publication, Sales No. E.05.II.D.6)
8. International Investment Agreements: Key Issues, vol. II, 2004, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.05.II.D.6)
9. International Investment Agreements: Key Issues, vol. III, 2005, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.05.II.D.6)
10. Key Terms and Concepts in IIAs: A Glossary, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.04.II.D.31)
11. State Contracts, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.04.II.D.5)
12. Dispute Settlement: Investor-State, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.03.II.D.5)
13. Dispute Settlement: State-State, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.03.II.D.6)
14. Home Country Measures, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.01.II.D.19.)
15. Host Country Operational Measures, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E. 01.II.D.18)
16. National Treatment, UNCTAD Series on issues in international investment agreements, vol. IV (United Nations publication, Sales No. E.99.II.D.16)
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17. International Investment Agreements: Flexibility for Development, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.00.II.D.6)
18. Taking of Property, UNCTAD Series on issues in international investment agreements, (United Nations publication, Sales No. E.00.II.D.4)
19. Admission and Establishment, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.99.II.D.10)
20. Trends in International Investment Agreements: an Overview, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E.99.II.D.23)
21. Lessons from the MAI, UNCTAD Series on issues in international investment agreements (United Nations publication, Sales No. E. 99.II.D.26)
22. Fair and Equitable Treatment, UNCTAD Series on issues in international investment agreements, vol. III (United Nations publication, Sales No. E. 99.II.D.15)
23. Scope and Definition, UNCTAD Series on issues in international investment agreements, vol. II (United Nations publication, Sales No. E. 99.II.D.9)
24. Most-Favoured-National Treatment, UNCTAD Series on issues in international investment agreements, vol. III (United Nations publication, Sales No. E.99.II.D.11)
B. UNCTAD Series on Issues in International Investment Agreements II
25. Expropriation, UNCTAD Series on issues in international investment agreements II, (United Nations publication, Sales No. E.12.II.D.7)
26. Scope and Definition (A Sequel), UNCTAD Series on issues in international investment agreements II (United Nations publication, Sales No. E.11.II.D.9)
27. Most-Favoured-National Treatment (A Sequel), UNCTAD Series on issues in international investment agreements II (United Nations publication, Sales No. 10.II.D.19)
28. Fair and Equitable Treatment (A Sequel), UNCTAD Series on issues in international investment agreements II (United Nations publication, Sales No. E.11.II.D.15)
29. Investor-State Dispute Settlement (A Sequel), UNCTAD Series on issues in international investment agreements II (United Nations publication, Sales No. 13 II.D.8
C. UNCTAD Series on International Investment Policies for Development
30. Investor-State Disputes: Prevention and Alternatives to Arbitration II: Proceedings of Symposium held on 29 March 2010, UNCTAD Series on International Investment Policies for Development (United Nations publication)
31. Investor-State Disputes: Prevention and Alternatives to Arbitration, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.10.II.D.11)
32. The Role of International Investment Agreements in Attracting Foreign Direct Investment to Developing Countries, UNCTAD Series International Investment Policies for Development (United Nations publication, Sales No. E.09.II.D.20)
33. The protection of national security in IIAs, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.09.II.D.12)
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34. International Investment rule-making: stocktaking, challenges and the way forward, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.08.II.D.1)
35. Identifying core elements in investment agreements in the APEC region, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.08.II.D.27)
36. Investment Promotion Provisions in International Investment Agreements, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.08.II.D.5)
37. Investor-State Dispute Settlement and Impact on Investment Rulemaking, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.07.II.D.10)
38. Preserving Flexibility in IIAs: the Use of Reservations, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.06.II.D.14)
39. International Investment Arrangements: Trends and Emerging Issues, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.06.II.D.3)
40. Investor-State Disputes Arising from Investment Treaties: A Review, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.06.II.D.1)
41. South-South Cooperation in International Investment Arrangements, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.5.II.D.26)
42. International Investment Agreements in Services, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.05.II.D.15)
43. The REIO Exception in MFN Treatment Clauses, UNCTAD Series on International Investment Policies for Development (United Nations publication, Sales No. E.05.II.D.1)
D. UNCTAD Issues Notes 44. Reform of the IIA Regime: Four Paths of Action and a Way Forward, UNCTAD IIA
Issues Note, No. 3, June 2014
E. International Institute for Sustainable Development
45. Howard Mann et al., IISD Model International Agreement on Investment for Sustainable Development: Negotiators Handbook, International Institute for Sustainable Development, 2d. ed., 2006
46. Nathalie Bernasconi-Osterwalder et al. (eds.), International Investment Law and Sustainable Development: Key Cases from 2000-2010, International Institute for Sustainable Development, 2011, p. 178
47. Nathalie Bernasconi-Osterwalder et al. (eds.), Investment Treaties and Why They Matter to Sustainable Development, International Institute for Sustainable Development, 2012, p. 54
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Research Guide for International Investment Law
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RESEARCH GUIDE FOR INTERNATIONAL INVESTMENT LAW
(All URLs last checked on 31 October 2014) This document offers an overview of freely available online services and resources in the field of international investment law generally and investor-state dispute settlement, in particular.
I. Finding investment treaties
1. United Nations Conference on Trade and Development (UNCTAD) Investment Instruments Online
Under its Investment Instruments Online program, UNCTAD offers several ways for locating the texts of international investment agreements (IIAs). The regularly updated database is based on electronic versions of bilateral investment agreements (BITs) made available by a number of countries on their official websites, as well as the printed versions available from official national and international collections and publications. The collection may include texts of BITs that are no longer in force or agreements that have not yet entered into force. Although this is the most comprehensive freely available collection of investment treaty texts, it does not provide an exhaustive or authoritative listing of all IIAs. The UNCTAD database offers the following specific resources:
A. IIA Compendium http://www.unctadxi.org/templates/DocSearch.aspx?id=780 The IIA Compendium is a collection of bilateral, regional and
multilateral instruments relating to cross-border investment. The Compendium is searchable by keywords (e.g. expropriation), countries, the type of instrument, and the year of conclusion. B. BITs Search Engine
http://www.unctadxi.org/templates/DocSearch____779.aspx The BITs search engine provides a user-friendly way to retrieve
the text of: (i) all BITs signed by one country; or, (ii) a specific BIT between two countries.
C. Country-Specific Lists of BITs
http://unctad.org/en/pages/DIAE/International%20Investment%20Agreements%20(IIA)/IIA-Tools.aspx This regularly updated resource provides a country-wise list of
BITs, as well as their dates of signature and entry into force, for 180 countries (last updated on 1 June 2012). It does not provide the full text of the treaties, but only an exhaustive list of treaties signed or in force.
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2. Websites of National Governments and Ministries
Since the UNCTAD database is not exhaustive, it is often useful to consult the websites of the relevant national governments. In some cases, the official websites of national governments (e.g., the websites of the ministries of foreign affairs, economic affairs, commerce, or foreign trade), provide a list and texts of all BITs concluded by a country. Sometimes government websites also include the text of a model BIT. Further, since investment agreements are not always concluded in the form of self-contained BITs and are often included in trade agreements as investment chapters, it may be useful to look at the texts of these trade agreements, also usually available on the websites of the national ministries of commerce or foreign trade. 3. Investment Treaty Arbitration (ITA) http://italaw.com/investment-treaties In addition to BITs and trade agreements with investment chapters, ITA provides the texts of several model BITs and links to the relevant websites of several national governments and ministries.
II. Finding arbitral awards and decisions 1. Investment Treaty Arbitration (ITA) http://italaw.com Italaw, managed by Professor Andrew Newcombe of the University of Victoria, provides access to all publicly available investment treaty arbitration awards and decisions. The database covers proceedings under several arbitration rules and fora (e.g., International Centre for Settlement of Investment Disputes (ICSID), Permanent Court of Arbitration (PCA), United Nations Commission on International Trade Law (UNCITRAL) Rules, etc.), as well as enforcement proceedings in different jurisdictions. The database is searchable by several criteria, such as the claimant, respondent state, governing treaty, and the date of the award. The site also provides a free subscription for regular email updates of latest awards and decisions. 2. Digest of International Investment Law Jurisprudence http://www.investment-law-digest.com/ This resource by the University of Cologne provides a user-friendly way of locating statements and observations made by different arbitral tribunals on specific legal issues and treaty provisions.
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3. International Investment Arbitration + Public Policy (IIAPP)
http://www.iiapp.org/cases-regulatory-impacts/ IIAPP, run by Professor Gus Van Harten of Osgoode Hall Law School, provides a free, searchable database of all publicly known investment treaty arbitration cases up to May 2010. In addition to the usual search criteria of claimants, respondent states and treaties, the database can be searched by arbitrators, and the different areas of the host States national regulatory policy at issue (e.g., agriculture, public health, water, indigenous rights, land use, etc.).
III. News and Commentary 1. Investment Treaty News (ITN) http://www.iisd.org/itn/ ITN is a free quarterly newsletter published by the International Institute for Sustainable Development providing news, analysis and opinion on arbitration proceedings and developments relating to investment treaties, arbitration rules and negotiations. The newsletter offers a free subscription service. 2. UNCTAD Investment Policy Hub (IPH) http://investmentpolicyhub.unctad.org/ The UNCTAD IPH provides a useful collection of resources and publications on international investment law and investment policy:
A. Investment Policy Framework for Sustainable Development http://investmentpolicyhub.unctad.org/Views/Public/IndexIPFSD.aspx
Building upon UNCTADs accumulated expertise on national and international investment policymaking, the IPFSD provides guidelines for designing national investment policies and options for the design and use of international investment agreements.
B. UNCTAD Investment Policy Review (IPR)
http://unctad.org/en/Pages/DIAE/Investment%20Policy%20Reviews/Investment-Policy-Reviews.aspx The IPR provides an objective evaluation of countries legal,
regulatory and institutional framework to attract foreign direct investment (FDI), including a review of FDI entry and establishment requirements, treatment and protection of investment, taxation, and other sectoral regulations.
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C. UNCTAD Best Practices on Investment for Development http://unctad.org/en/Pages/DIAE/Investment%20Policy%20Reviews/Best-practices-on-Investment-for-Development.aspx This series provides advice on best practices in investment policies
which can maximize the contribution of FDI inflow to national development strategies.
D. UNCTAD Investment Policy Monitor (IPM)
http://unctad.org/en/Pages/DIAE/Research%20on%20FDI%20and%20TNCs/Investment-Policy-Monitor.aspx The IPM is a periodic newsletter published by UNCTAD reporting
on the latest developments in national and international investment law and policy. E. UNCTAD Series on International Investment Agreements (IIA):
The Pink Series (1999-2005) and IIA II (2011- ) IIA I (1999-2005): http://unctad.org/en/Pages/DIAE/International%20Investment%20Agreements%20(IIA)/UNCTAD-Series-on-issues-on-international-investment-agreements.aspx
IIA II (2011- ): http://unctad.org/en/Pages/DIAE/International%20Investment%20
Agreements%20(IIA)/Issues-in-International-Investment-Agreements-II.aspx
This series of booklets explores key legal concepts and issues related to international investment agreements. Each booklet focuses on a particular issue (e.g., MFN, expropriation, etc.), and includes an analysis of state practice and investment arbitration awards, in addition to offering policy options and advice. F. UNCTAD International Investment Agreements: Issue Notes
http://unctad.org/en/pages/publications/Intl-Investment-Agreements---Issues-Note.aspx
These occasional Issue Notes provide a brief analysis and commentary on select developments relating to international investment agreements and investor-state dispute settlement.
3. Organization for Economic Co-operation and Development (OECD)
Working Papers on International Investment http://www.oecd.org/daf/inv/investment-policy/working-papers.htm
The OECD Working Paper series publishes selected studies by the OECD Investment Committee, OECD Investment Division staff, or by outside consultants working on OECD Investment Committee projects. The series covers a variety of issues under international investment agreements and investment arbitration, apart from national investment policies.
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4. Columbia FDI Perspectives http://www.vcc.columbia.edu/content/columbia-fdi-perspectives-0
The FDI Perspectives is an occasional series by the Columbia Center on Sustainable Investment at Columbia University providing topical analysis and commentary on issues relating to FDI.
5. Kluwer Arbitration Blog http://kluwerarbitrationblog.com/ This blog provides commentary by lawyers and academics on current developments in international investment law and arbitration proceedings, in particular.
6. A Canon for Arbitration and Investment Law
http://arbitrationandinvestmentlaw.wordpress.com/ This blog provides a collection (a canon) of significant scholarship in the field of international investment law and arbitration, along with a review of these works.
IV. Mailing Lists Mailing lists (also known as list-servs) are a useful way of interacting with international lawyers, academics and other professionals working in the field of international investment law across the world. As a member one can participate in discussions and share information through email exchanges. Membership requires an application, and must be approved. There are two free mailing lists that focus on international investment law: 1. Young-OGEMID http://www.transnational-dispute-management.com/young-ogemid/ Young-OGEMID is a mailing list for younger professionals practicing in the field of international investment law and international arbitration. Although covering a variety of issues, it maintains a strong focus on the practice of dispute settlement.
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V. Multimedia
1. UN Audiovisual Library of International Law (AVL) http://www.un.org/law/avl/ The UN AVL is a multimedia collection of lectures delivered by leading international law scholars and practitioners covering a range of international law fields and issues. Some lectures are accompanied by a suggested list for further reading and research. The section on Foreign Investment under International Economic Law contains lectures directly relevant to international investment law (http://untreaty.un.org/cod/avl/lectureseries.html#intlecon). Other categories also contain lectures on related issues such as the protection of individuals, international arbitration, state responsibility and dispute settlement, etc. The AVL is updated regularly to include new lectures.
VI. Further Research and Reading
1. Columbia Center on Sustainable Investment http://ccsi.columbia.edu/ The Vale Columbia Center offers a variety of guides, reports and publications on cross-border investment flows. In addition, as part of the International Investment Law Syllabus Project, the Center provides model syllabi for academic courses on international investment law. 2. UN AVL Research Library http://untreaty.un.org/cod/avl/researchlibrary.html The Research Library of the AVL provides links to other web-based international law-related resources. Specifically, it covers: resources relating to treaties and treaty status information; materials concerning the jurisprudence of international courts and tribunals; access to selected United Nations publications and to repositories of official documentation; and selected scholarly writings in international law, including publications and journal articles. A collection of significant scholarly works is provided by HeinOnline and can be accessed through the AVL Research Library for free (http://heinonlinebackup.com/HOLtest/UNLAV). 3. Electronic Research Guides Several institutions offer comprehensive research guides on international investment law and investment arbitration, covering free and paid, online and print resources:
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A. The American Society of International Law Guide to Electronic
Resources for International Economic Law http://www.asil.org/resources/electronic-resource-guide-erg
B. The Peace Palace Library Research Guide for FDI http://www.peacepalacelibrary.nl/research-guides/economic-and-
financial-law/foreign-direct-investment/ C. The Georgetown Law Library International Investment Law
Research Guide http://www.law.georgetown.edu/library/research/guides/Internatio
nalInvestmentLaw.cfm D. The Washington University Law Library International Investment
Law Guide http://law.wustl.edu/library/pages.aspx?id=1373#_1_4
**
Judge Joan Donoghue Shashank Kumar December 2012 (Updated October 2014)
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Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention),
Regulations and Rules, as amended in 2006
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ula
tion
s an
d R
ule
s as
am
ende
d ef
fect
ive
Apr
il 10
,200
6.
5
19
-
CON
VEN
TION
ON
TH
E SE
TTLE
MEN
T OF
IN
VEST
MEN
TDI
SPU
TES
BETW
EEN
STA
TES
AND
NAT
ION
ALS
OF O
THER
STA
TES
7
Convention20
-
CON
VEN
TION
ON
TH
E SE
TTLE
MEN
T OF
IN
VEST
MEN
T DI
SPU
TES
BETW
EEN
STA
TES
AND
NAT
ION
ALS
OF O
THER
STA
TES
Tabl
e of
Con
tent
s
Cha
pter
Sect
ion
Art
icle
sPa
ge
Pre
amb
le11
IIn
tern
atio
nal
Cen
tre
for
Sett
lem
ent
ofIn
vest
men
t D
isp
ute
s 1-
2412
1E
stab
lish
men
t an
d O
rgan
izat
ion
1-
312
2T
he
Adm
inis
trat
ive
Cou
nci
l4-
812
3T
he
Secr
etar
iat
9-11
144
Th
e Pa
nel
s12
-16
155
Fin
anci
ng
the
Cen
tre
1716
6St
atu
s,Im
mu
nit
ies
and
Pri
vile
ges
18-2
416
IIJu
risd
icti
on o
fth
e C
entr
e25
-27
18
III
Con
cili
atio
n28
-35
191
Req
ues
t fo
r C
onci
liati
on28
192
Con
stit
uti
on o
fth
e C
onci
liati
on
Com
mis
sion
29-3
120
3C
onci
liati
on P
roce
edin
gs32
-35
20
IVA
rbit
rati
on36
-55
221
Req
ues
t fo
r A
rbit
rati
on36
222
Con
stit
uti
on o
fth
e Tr
ibu
nal
37-4
022
3Po
wer
s an
d Fu
nct
ion
s of
the
Trib
un
al41
-47
234
Th
e A
war
d48
-49
255
Inte
rpre
tati
on,R
evis
ion
an
d A
nn
ulm
ent
ofth
e A
war
d50
-52
256
Rec
ogn
itio
n a
nd
En
forc
emen
t of
the
Aw
ard
53-5
527
VR
epla
cem
ent
and
Dis
qual
ific
atio
nof
Con
cili
ator
s an
d A
rbit
rato
rs56
-58
28
VI
Cos
t of
Pro
ceed
ings
59-6
129
VII
Pla
ce o
fP
roce
edin
gs62
-63
30
9
Convention
VII
ID
isp
ute
s B
etw
een
Con
trac
tin
g St
ates
6430
IXA
men
dm
ent
65-6
630
X
Fin
al P
rovi
sion
s67
-75
31
Sign
atu
re C
lau
se33
10
Convention
21
-
CON
VEN
TION
ON
TH
E SE
TTLE
MEN
T OF
IN
VEST
MEN
T DI
SPU
TES
BETW
EEN
STA
TES
AND
NAT
ION
ALS
OF O
THER
STA
TES
Prea
mbl
e
Th
e C
ontr
acti
ng
Stat
es
Con
sid
erin
gth
e n
eed
for
inte
rnat
ion
al c
oope
rati
on f
or e
con
omic
deve
lopm
ent,
and
the
role
of
priv
ate
inte
rnat
ion
al in
vest
men
t th
erei
n;
Bea
rin
g in
min
dth
e po
ssib
ility
th
at f
rom
tim
e to
tim
e di
spu
tes
may
ari
se i
n c
onn
ecti
on w
ith
su
ch i
nves
tmen
t be
twee
n C
ontr
acti
ng
Stat
es a
nd
nat
ion
als
ofot
her
Con
trac
tin
g St
ates
;
Rec
ogn
izin
gth
at w
hile
su
ch d
ispu
tes
wou
ld u
sual
ly b
e su
bjec
t to
nat
ion
al l
egal
pro
cess
es,
inte
rnat
ion
al m
eth
ods
ofse
ttle
men
t m
ay b
eap
prop
riat
e in
cer
tain
cas
es;
Att
ach
ing
par
ticu
lar
imp
orta
nce
to t
he
avai
labi
lity
offa
cilit
ies
for
inte
rnat
ion
al c
onci
liati
on o
r ar
bitr
atio
n t
o w
hic
h C
ontr
acti
ng
Stat
esan
d n
atio
nal
s of
oth
er C
ontr
acti
ng
Stat
es m
ay s
ubm
it s
uch
dis
pute
s if
they
so
desi
re;
Des
irin
gto
est
ablis
h s
uch
fac
iliti
es u
nde
r th
e au
spic
es o
fth
e In
ter-
nat
ion
al B
ank
for
Rec
onst
ruct
ion
an
d D
evel
opm
ent;
Rec
ogn
izin
gth
at m
utu
al c
onse
nt b
y th
e pa
rtie
s to
su
bmit
su
ch d
is-
pute
s to
con
cilia
tion
or
to a
rbit
rati
on th
rou
gh s
uch
faci
litie
s co
nst
itu
tes
a bi
ndi
ng
agre
emen
t w
hic
h r
equ
ires
in
par
ticu
lar
that
du
e co
nsi
dera
-ti
on b
e gi
ven
to a
ny r
ecom
men
dati
on o
fco
nci
liato
rs,a
nd
that
any
arb
i-tr
al a
war
d be
com
plie
d w
ith
;an
d
Dec
lari
ng
that
no
Con
trac
tin
g St
ate
shal
l by
the
mer
e fa
ct o
fits
rat
-if
icat
ion
,ac
cept
ance
or
appr
oval
of
this
Con
ven
tion
an
d w
ith
out
its
con
sen
t be
dee
med
to
be u
nde
r an
y ob
ligat
ion
to
subm
it a
ny p
arti
cula
rdi
spu
te t
o co
nci
liati
on o
r ar
bitr
atio
n,
Hav
e ag
reed
as f
ollo
ws:
11
Convention
Chap
ter
IIn
tern
atio
nal
Cent
re f
or
Sett
lem
ent
of I
nves
tmen
t Di
sput
es
Sect
ion
1Es
tabl
ishm
ent
and
Orga
niza
tion
Art
icle
1
(1)
Th
ere
is h
ereb
y es
tabl
ish
ed t
he
Inte
rnat
ion
al C
entr
e fo
r Se
ttle
-m
ent
ofIn
vest
men
t D
ispu
tes
(her
ein
afte
r ca
lled
the
Cen
tre)
.
(2)
Th
e pu
rpos
e of
the
Cen
tre
shal
l be
to p
rovi
de fa
cilit
ies
for
con
-ci
liati
on a
nd
arbi
trat
ion
of
inve
stm
ent
disp
ute
s be
twee
n C
ontr
acti
ng
Stat
es a
nd
nat
ion
als
ofot
her
Con
trac
tin
g St
ates
in a
ccor
dan
ce w
ith
th
epr
ovis
ion
s of
this
Con
ven
tion
.
Art
icle
2
Th
e se
at o
fth
e C
entr
e sh
all
be a
t th
e pr
inci
pal
offi
ce o
fth
e In
ter-
nat
ion
al B
ank
for
Rec
onst
ruct
ion
an
d D
evel
opm
ent
(her
ein
afte
r ca
lled
the
Ban
k).T
he
seat
may
be
mov
ed t
o an
oth
er p
lace
by
deci
sion
of
the
Adm
inis
trat
ive
Cou
nci
l ad
opte
d by
a m
ajor
ity
oftw
o-th
irds
of
its
mem
bers
.
Art
icle
3
Th
e C
entr
e sh
all
hav
e an
Adm
inis
trat
ive
Cou
nci
l an
d a
Secr
etar
iat
and
shal
l mai
nta
in a
Pan
el o
fC
onci
liato
rs a
nd
a Pa
nel
of
Arb
itra
tors
.
Sect
ion
2Th
e Ad
min
istr
ativ
e Co
unci
l
Art
icle
4
(1)
Th
e A
dmin
istr
ativ
e C
oun
cil
shal
l be
com
pose
d of
one
repr
e-se
nta
tive
of
each
Con
trac
tin
g St
ate.
An
alt
ern
ate
may
act
as
repr
esen
ta-
tive
in c
ase
ofh
is p
rin
cipa
ls a
bsen
ce f
rom
a m
eeti
ng
or in
abili
ty t
o ac
t.
(2)
In t
he
abse
nce
of
a co
ntr
ary
desi
gnat
ion
,ea
ch g
over
nor
an
dal
tern
ate
gove
rnor
of
the
Ban
k ap
poin
ted
by a
Con
trac
tin
g St
ate
shal
lbe
ex
offi
cio
its
repr
esen
tati
ve a
nd
its
alte
rnat
e re
spec
tive
ly.
Art
icle
5
Th
e P
resi
den
t of
the
Ban
k sh
all
be e
x of
fici
oC
hai
rman
of
the
Adm
inis
trat
ive
Cou
nci
l (h
erei
naf
ter
calle
d th
e C
hai
rman
) bu
t sh
all
12
Convention
22
-
hav
e n
o vo
te.
Du
rin
g h
is a
bsen
ce o
r in
abili
ty t
o ac
t an
d du
rin
g an
yva
can
cy i
n t
he
offi
ce o
fP
resi
den
t of
the
Ban
k,th
e pe
rson
for
th
e ti
me
bein
g ac
tin
g as
Pre
side
nt
shal
l ac
t as
Ch
airm
an o
fth
e A
dmin
istr
ativ
eC
oun
cil.
Art
icle
6
(1)
Wit
hou
t pr
eju
dice
to
the
pow
ers
and
fun
ctio
ns
vest
ed i
n i
t by
oth
er p
rovi
sion
s of
this
Con
ven
tion
,th
e A
dmin
istr
ativ
e C
oun
cil s
hal
l:
(a)
adop
t th
e ad
min
istr
ativ
e an
d fi
nan
cial
reg
ula
tion
s of
the
Cen
tre;
(b)
adop
t th
e ru
les
ofpr
oced
ure
for
the
inst
itu
tion
of
con
cilia
-ti
on a
nd
arbi
trat
ion
pro
ceed
ings
;
(c)
adop
t th
e ru
les
ofpr
oced
ure
for
con
cilia
tion
an
d ar
bitr
a-ti
on p
roce
edin
gs (
her
ein
afte
r ca
lled
the
Con
cilia
tion
Ru
les
and
the
Arb
itra
tion
Ru
les)
;
(d)
appr
ove
arra
nge
men
ts w
ith
th
e B
ank
for
the
use
of
the
Ban
ks
adm
inis
trat
ive
faci
litie
s an
d se
rvic
es;
(e)
dete
rmin
e th
e co
ndi
tion
s of
serv
ice
ofth
e Se
cret
ary-
Gen
-er
al a
nd
ofan
y D
epu
ty S
ecre
tary
-Gen
eral
;
(f)
adop
t th
e an
nu
al b
udg
et o
fre
ven
ues
an
d ex
pen
ditu
res
ofth
e C
entr
e;
(g)
appr
ove
the
ann
ual
rep
ort
on t
he
oper
atio
n o
fth
e C
entr
e.
Th
e de
cisi
ons
refe
rred
to
in s
ub-
para
grap
hs
(a),
(b),
(c)
and
(f)
abov
e sh
all
be a
dopt
ed b
y a
maj
orit
y of
two-
thir
ds o
fth
e m
embe
rs o
fth
e A
dmin
istr
ativ
e C
oun
cil.
(2)
Th
e A
dmin
istr
ativ
e C
oun
cil m
ay a
ppoi
nt s
uch
com
mit
tees
as
itco
nsi
ders
nec
essa
ry.
(3)
Th
e A
dmin
istr
ativ
e C
oun
cil
shal
l al
so
exer
cise
su
ch
oth
erpo
wer
s an
d pe
rfor
m s
uch
oth
er f
un
ctio
ns
as i
t sh
all
dete
rmin
e to
be
nec
essa
ry f
or t
he
impl
emen
tati
on o
fth
e pr
ovis
ion
s of
this
Con
ven
tion
.
Art
icle
7
(1)
Th
e A
dmin
istr
ativ
e C
oun
cil
shal
l h
old
an a
nn
ual
mee
tin
g an
dsu
ch o
ther
mee
tin
gs a
s m
ay b
e de
term
ined
by
the
Cou
nci
l,or
con
ven
edby
th
e C
hai
rman
,or
conv
ened
by
the
Secr
etar
y-G
ener
al a
t th
e re
ques
tof
not
less
th
an f
ive
mem
bers
of
the
Cou
nci
l.
(2)
Eac
h m
embe
r of
the
Adm
inis
trat
ive
Cou
nci
l sh
all
hav
e on
evo
te a
nd,
exce
pt a
s ot
her
wis
e h
erei
n p
rovi
ded,
all
mat
ters
bef
ore
the
Cou
nci
l sh
all b
e de
cide
d by
a m
ajor
ity
ofth
e vo
tes
cast
.
(3)
A q
uor
um
for
any
mee
tin
g of
the
Adm
inis
trat
ive
Cou
nci
l sh
all
be a
maj
orit
y of
its
mem
bers
.
13
Convention
(4)
Th
e A
dmin
istr
ativ
e C
oun
cil
may
est
ablis
h,
by a
maj
orit
y of
two-
thir
ds o
fit
s m
embe
rs,
a pr
oced
ure
wh
ereb
y th
e C
hai
rman
may
seek
a v
ote
ofth
e C
oun
cil w
ith
out
conv
enin
g a
mee
tin
g of
the
Cou
nci
l.T
he
vote
sh
all b
e co
nsi
dere
d va
lid o
nly
if
the
maj
orit
y of
the
mem
bers
ofth
e C
oun
cil
cast
th
eir
vote
s w
ith
in t
he
tim
e lim
it f
ixed
by
the
said
proc
edu
re.
Art
icle
8
Mem
bers
of
the
Adm
inis
trat
ive
Cou
nci
l an
d th
e C
hai
rman
sh
all
serv
e w
ith
out
rem
un
erat
ion
fro
m t
he
Cen
tre.
Sect
ion
3Th
e Se
cret
aria
t
Art
icle
9
Th
e Se
cret
aria
t sh
all
con
sist
of
a Se
cret
ary-
Gen
eral
,on
e or
mor
eD
epu
ty S
ecre
tari
es-G
ener
al a
nd
staf
f.
Art
icle
10
(1)
Th
e Se
cret
ary-
Gen
eral
an
d an
y D
epu
ty S
ecre
tary
-Gen
eral
sh
all
be e
lect
ed b
y th
e A
dmin
istr
ativ
e C
oun
cil b
y a
maj
orit
y of
two-
thir
ds o
fit
s m
embe
rs u
pon
th
e n
omin
atio
n o
fth
e C
hai
rman
for
a t
erm
of
serv
-ic
e n
ot e
xcee
din
g si
x ye
ars
and
shal
l be
elig
ible
for
re-
elec
tion
.A
fter
con
sult
ing
the
mem
bers
of
the
Adm
inis
trat
ive
Cou
nci
l,th
e C
hai
rman
shal
l pro
pose
on
e or
mor
e ca
ndi
date
s fo
r ea
ch s
uch
off
ice.
(2)
Th
e of
fice
s of
Secr
etar
y-G
ener
al a
nd
Dep
uty
Sec
reta
ry-G
ener
alsh
all b
e in
com
pati
ble
wit
h th
e ex
erci
se o
fany
pol
itic
al fu
nct
ion
.Nei
ther
the
Secr
etar
y-G
ener
al n
or a
ny D
epu
ty S
ecre
tary
-Gen
eral
may
hol
d an
yot
her
em
ploy
men
t or
en
gage
in
any
oth
er o
ccu
pati
on e
xcep
t w
ith
th
eap
prov
al o
fth
e A
dmin
istr
ativ
e C
oun
cil.
(3)
Du
rin
g th
e Se
cret
ary-
Gen
eral
s a
bsen
ce o
r in
abili
ty t
o ac
t,an
ddu
rin
g an
y va
can
cy o
fth
e of
fice
of
Secr
etar
y-G
ener
al,t
he
Dep
uty
Sec
-re
tary
-Gen
eral
sh
all
act
as S
ecre
tary
-Gen
eral
.If
ther
e sh
all
be m
ore
than
on
e D
epu
ty S
ecre
tary
-Gen
eral
,th
e A
dmin
istr
ativ
e C
oun
cil
shal
lde
term
ine
in a
dvan
ce t
he
orde
r in
wh
ich
th
ey s
hal
l ac
t as
Sec
reta
ry-
Gen
eral
.
Art
icle
11
Th
e Se
cret
ary-
Gen
eral
sh
all
be t
he
lega
l re
pres
enta
tive
an
d th
epr
inci
pal o
ffic
er o
fth
e C
entr
e an
d sh
all b
e re
spon
sibl
e fo
r it
s ad
min
is-
trat
ion
,in
clu
din
g th
e ap
poin
tmen
t of
staf
f,in
acc
orda
nce
wit
h t
he
pro-
visi
ons
ofth
is C
onve
nti
on a
nd
the
rule
s ad
opte
d by
th
e A
dmin
istr
ativ
e
14
Convention
23
-
Cou
nci
l.H
e sh
all
perf
orm
th
e fu
nct
ion
of
regi
stra
r an
d sh
all
hav
e th
epo
wer
to
auth
enti
cate
arb
itra
l aw
ards
ren
dere
d pu
rsu
ant
to t
his
Con
-ve
nti
on,a
nd
to c
erti
fy c
opie
s th
ereo
f.
Sect
ion
4Th
e Pa
nels
Art
icle
12
Th
e Pa
nel
of
Con
cilia
tors
an
d th
e Pa
nel
of
Arb
itra
tors
sh
all
each
con
sist
ofq
ual
ifie
d p
erso
ns,
desi
gnat
ed a
s h
erei
naf
ter
prov
ided
,wh
o ar
ew
illin
g to
ser
ve t
her
eon
.
Art
icle
13
(1)
Eac
h C
ontr
acti
ng
Stat
e m
ay d
esig
nat
e to
eac
h P
anel
fou
r pe
r-so
ns
wh
o m
ay b
ut
nee
d n
ot b
e it
s n
atio
nal
s.
(2)
Th
e C
hai
rman
may
des
ign
ate
ten
per
son
s to
eac
h P
anel
.T
he
pers
ons
so d
esig
nat
ed t
o a
Pan
el s
hal
l eac
h h
ave
a di
ffer
ent
nat
ion
alit
y.
Art
icle
14
(1)
Pers
ons
desi
gnat
ed t
o se
rve
on t
he
Pan
els
shal
l be
per
son
s of
hig
h m
oral
ch
arac
ter
and
reco
gniz
ed c
ompe
ten
ce i
n t
he
fiel
ds o
fla
w,
com
mer
ce,
indu
stry
or
fin
ance
,w
ho
may
be
relie
d u
pon
to
exer
cise
inde
pen
den
t ju
dgm
ent.
Com
pete
nce
in t
he
fiel
d of
law
sh
all b
e of
par-
ticu
lar
impo
rtan
ce in
th
e ca
se o
fpe
rson
s on
th
e Pa
nel
of
Arb
itra
tors
.
(2)
Th
e C
hai
rman
,in
des
ign
atin
g p
erso
ns
to s
erve
on
th
e Pa
nel
s,sh
all
in a
ddit
ion
pay
du
e re
gard
to
the
impo
rtan
ce o
fas
suri
ng
repr
e-se
nta
tion
on
th
e Pa
nel
s of
the
prin
cipa
l leg
al s
yste
ms
ofth
e w
orld
an
dof
the
mai
n f
orm
s of
econ
omic
act
ivit
y.
Art
icle
15
(1)
Pan
el m
embe
rs s
hal
l ser
ve f
or r
enew
able
per
iods
of
six
year
s.
(2)
In c
ase
ofde
ath
or
resi
gnat
ion
of
a m
embe
r of
a Pa
nel
,th
eau
thor
ity
wh
ich
des
ign
ated
th
e m
embe
r sh
all
hav
e th
e ri
ght
to d
esig
-n
ate
anot
her
per
son
to
serv
e fo
r th
e re
mai
nde
r of
that
mem
ber
s te
rm.
(3)
Pan
el m
embe
rs s
hal
l co
nti
nu
e in
off
ice
un
til
thei
r su
cces
sors
hav
e be
en d
esig
nat
ed.
Art
icle
16
(1)
A p
erso
n m
ay s
erve
on
bot
h P
anel
s.
15
Convention
(2)
Ifa
pers
on s
hal
l h
ave
been
des
ign
ated
to
serv
e on
th
e sa
me
Pan
el b
y m
ore
than
on
e C
ontr
acti
ng
Stat
e,or
by
one
or m
ore
Con
-tr
acti
ng
Stat
es a
nd
the
Ch
airm
an,h
e sh
all b
e de
emed
to
hav
e be
en d
es-
ign
ated
by
the
auth
orit
y w
hic
h f
irst
des
ign
ated
him
or,
ifon
e su
chau
thor
ity
is t
he
Stat
e of
wh
ich
he
is a
nat
ion
al,b
y th
at S
tate
.
(3)
All
desi
gnat
ion
s sh
all
be n
otif
ied
to t
he
Secr
etar
y-G
ener
al a
nd
shal
l tak
e ef
fect
fro
m t
he
date
on
wh
ich
th
e n
otif
icat
ion
is r
ecei
ved.
Sect
ion
5Fi
nanc
ing
the
Cent
re
Art
icle
17
Ifth
e ex
pen
ditu
re o
fth
e C
entr
e ca
nn
ot b
e m
et o
ut
ofch
arge
s fo
rth
e u
se o
fit
s fa
cilit
ies,
or o
ut
ofot
her
rec
eipt
s,th
e ex
cess
sh
all b
e bo
rne
by C
ontr
acti
ng
Stat
es w
hic
h a
re m
embe
rs o
fth
e B
ank
in p
ropo
rtio
n t
oth
eir
resp
ecti
ve s
ubs
crip
tion
s to
th
e ca
pita
l st
ock
ofth
e B
ank,
and
byC
ontr
acti
ng
Stat
es w
hic
h a
re n
ot m
embe
rs o
fth
e B
ank
in a
ccor
dan
cew
ith
ru
les
adop
ted
by t
he
Adm
inis
trat
ive
Cou
nci
l.
Sect
ion
6St
atus
, Im
mun
itie
s an
d Pr
ivile
ges
Art
icle
18
Th
e C
entr
e sh
all h
ave
full
inte
rnat
ion
al le
gal p
erso
nal
ity.
Th
e le
gal
capa
city
of
the
Cen
tre
shal
l in
clu
de t
he
capa
city
:
(a)
to c
ontr
act;
(b)
to a
cqui
re a
nd
disp
ose
ofm
ovab
le a
nd
imm
ovab
le p
rope
rty;
(c)
to in
stit
ute
lega
l pro
ceed
ings
.
Art
icle
19
To e
nab
le t
he
Cen
tre
to f
ulf
il it
s fu
nct
ion
s,it
sh
all e
njo
y in
th
e te
r-ri
tori
es o
fea
ch C
ontr
acti
ng
Stat
e th
e im
mu
nit
ies
and
priv
ilege
s se
tfo
rth
in t
his
Sec
tion
.
Art
icle
20
Th
e C
entr
e,it
s pr
oper
ty a
nd
asse
ts s
hal
l en
joy
imm
un
ity
from
all
lega
l pro
cess
,exc
ept
wh
en t
he
Cen
tre
wai
ves
this
imm
un
ity.
16
Convention
24
-
Art
icle
21
Th
e C
hai
rman
,th
e m
embe
rs o
fth
e A
dmin
istr
ativ
e C
oun
cil,
per-
son
s ac
tin
g as
con
cilia
tors
or
arbi
trat
ors
or m
embe
rs o
fa
Com
mit
tee
appo
inte
d pu
rsu
ant
to p
arag
raph
(3)
of
Art
icle
52,
and
the
offi
cers
an
dem
ploy
ees
ofth
e Se
cret
aria
t
(a)
shal
l en
joy
imm
un
ity
from
leg
al p
roce
ss w
ith
res
pect
to
acts
per
form
ed b
y th
em i
n t
he
exer
cise
of
thei
r fu
nct
ion
s,ex
cept
wh
en t
he
Cen
tre
wai
ves
this
imm
un
ity;
(b)
not
bei
ng
loca
l nat
ion
als,
shal
l en
joy
the
sam
e im
mu
nit
ies
from
im
mig
rati
on r
estr
icti
ons,
alie
n r
egis
trat
ion
req
uir
e-m
ents
an
d n
atio
nal
ser
vice
obl
igat
ion
s,th
e sa
me
faci
litie
sas
reg
ards
exc
han
ge r
estr
icti
ons
and
the
sam
e tr
eatm
ent
inre
spec
t of
trav
ellin
g fa
cilit
ies
as a
re a
ccor
ded
by C
ontr
act-
ing
Stat
es t
o th
e re
pres
enta
tive
s,of
fici
als
and
empl
oyee
s of
com
para
ble
ran
k of
oth
er C
ontr
acti
ng
Stat
es.
Art
icle
22
Th
e pr
ovis
ion
s of
Art
icle
21
shal
l ap
ply
to p
erso
ns
appe
arin
g in
proc
eedi
ngs
un
der
this
Con
ven
tion
as
part
ies,
agen
ts,
cou
nse
l,ad
vo-
cate
s,w
itn
esse
s or
ex
per
ts;
prov
ided
,h
owev
er,
that
su
b-pa
ragr
aph
(b)
ther
eof
shal
l app
ly o
nly
in c
onn
ecti
on w
ith
th
eir
trav
el to
an
d fr
om,
and
thei
r st
ay a
t,th
e pl
ace
wh
ere
the
proc
eedi
ngs
are
hel
d.
Art
icle
23
(1)
Th
e ar
chiv
es o
fth
e C
entr
e sh
all
be i
nvio
labl
e,w
her
ever
th
eym
aybe
.
(2)
Wit
h r
egar
d to
its
offi
cial
com
mu
nic
atio
ns,
the
Cen
tre
shal
l be
acco
rded
by
each
Con
trac
tin
g St
ate
trea
tmen
t n
ot l
ess
favo
ura
ble
than
that
acc
orde
d to
oth
er in
tern
atio
nal
org
aniz
atio
ns.
Art
icle
24
(1)
Th
e C
entr
e,it
s as
sets
,pro
pert
y an
d in
com
e,an
d it
s op
erat
ion
san
d tr
ansa
ctio
ns
auth
oriz
ed b
y th
is C
onve
nti
on s
hal
l be
exe
mpt
fro
mal
l ta
xati
on a
nd
cust
oms
duti
es.T
he
Cen
tre
shal
l al
so b
e ex
empt
fro
mlia
bilit
y fo
r th
e co
llect
ion
or
paym
ent
ofan
y ta
xes
or c
ust
oms
duti
es.
(2)
Exc
ept i
n th
e ca
se o
flo
cal n
atio
nal
s,n
o ta
x sh
all b
e le
vied
on
or
in r
espe
ct o
fex
pen
se a
llow
ance
s pa
id b
y th
e C
entr
e to
th
e C
hai
rman
or
mem
bers
of
the
Adm
inis
trat
ive
Cou
nci
l,or
on
or
in r
espe
ct o
fsa
lari
es,
expe
nse
allo
wan
ces
or o
ther
em
olu
men
ts p
aid
by t
he
Cen
tre
to o
ffic
ials
or e
mpl
oyee
s of
the
Secr
etar
iat.
(3)
No
tax
shal
l be
lev
ied
on o
r in
res
pect
of
fees
or
expe
nse
allo
wan
ces
rece
ived
by
pers
ons
acti
ng
as c
onci
liato
rs,o
r ar
bitr
ator
s,or 17
Convention
mem
bers
of
a C
omm
itte
e ap
poin
ted
purs
uan
t to
par
agra
ph (
3) o
fArt
i-cl
e 52
,in
pro
ceed
ings
un
der
this
Con
ven
tion
,if
the
sole
ju
risd
icti
onal
basi
s fo
r su
ch t
ax i
s th
e lo
cati
on o
fth
e C
entr
e or
th
e pl
ace
wh
ere
such
proc
eedi
ngs
are
con
duct
ed o
r th
e pl
ace
wh
ere
such
fee
s or
allo
wan
ces
are
paid
.
Chap
ter
IIJu
risd
icti
on o
f th
e Ce
ntre
Art
icle
25
(1)
Th
e ju
risd
icti
on o
fth
e C
entr
e sh
all e
xten
d to
any
lega
l dis
pute
aris
ing
dire
ctly
ou
t of
an i
nves
tmen
t,be
twee
n a
Con
trac
tin
g St
ate
(or
any
con
stit
uen
t su
bdiv
isio
n o
r ag
ency
of
a C
ontr
acti
ng
Stat
e de
sign
ated
to th
e C
entr
e by
that
Sta
te)
and
a n
atio
nal
of
anot
her
Con
trac
tin
g St
ate,
wh
ich
th
e pa
rtie
s to
th
e di
spu
te c
onse
nt
in w
riti
ng
to s
ubm
it t
o th
eC
entr
e.W
hen
th
e pa
rtie
s h
ave
give
n t
hei
r co
nse
nt,
no
part
y m
ay w
ith
-dr
aw it
s co
nse
nt
un
ilate
rally
.
(2)
Nat
ion
al o
fan
oth
er C
ontr
acti
ng
Stat
em
ean
s:
(a)
any
nat
ura
l per
son
wh
o h
ad t
he
nat
ion
alit
y of
a C
ontr
act-
ing
Stat
e ot
her
th
an t
he
Stat
e pa
rty
to t
he
disp
ute
on
th
eda
te o
n w
hic
h th
e pa
rtie
s co
nse
nte
d to
su
bmit
su
ch d
ispu
teto
con
cilia
tion
or
arbi
trat
ion
as
wel
l as
on
th
e da
te o
nw
hic
h th
e re
ques
t was
reg
iste
red
purs
uan
t to
para
grap
h (
3)of
Art
icle
28
or p
arag
raph
(3)
of
Art
icle
36,
but
does
not
incl
ude
any
per
son
wh
o on
eit
her
dat
e al
so h
ad t
he
nat
ion
-al
ity
ofth
e C
ontr
acti
ng
Stat
e pa
rty
to t
he
disp
ute
;an
d
(b)
any
juri
dica
l p
erso
n w
hic
h h
ad t
he
nat
ion
alit
y of
a C
on-
trac
tin
g St
ate
oth
er t
han
th
e St
ate
part
y to
th
e di
spu
te o
nth
e da
te o
n w
hic
h th
e pa
rtie
s co
nse
nte
d to
su
bmit
su
ch d
is-
pute
to
con
cilia
tion
or
arbi
trat
ion
an
d an
y ju
ridi
cal p
erso
nw
hic
h h
ad t
he
nat
ion
alit
y of
the
Con
trac
tin
g St
ate
part
y to
the
disp
ute
on
that
dat
e an
d w
hic
h,b
ecau
se o
ffo
reig
n c
on-
trol
,th
e pa
rtie
s h
ave
agre
ed s
hou
ld b
e tr
eate
d as
a n
atio
nal
ofan
oth
er C
ontr
acti
ng
Stat
e fo
r th
e pu
rpos
es o
fth
is C
on-
ven
tion
.
(3)
Con
sen
t by
a c
onst
itu
ent
subd
ivis
ion
or
agen
cy o
fa
Con
trac
t-in
g St
ate
shal
l req
uir
e th
e ap
prov
al o
fth
at S
tate
un
less
th
at S
tate
not
i-fi
es t
he
Cen
tre
that
no
such
app
rova
l is
requ
ired
.
(4)
Any
Con
trac
tin
g St
ate
may
,at
the
tim
e of
rati
fica
tion
,acc
ept-
ance
or
appr
oval
of
this
Con
ven
tion
or
at a
ny ti
me
ther
eaft
er,n
otif
y th
eC
entr
e of
the
clas
s or
cla
sses
of
disp
ute
s w
hic
h i
t w
ould
or
wou
ld n
otco
nsi
der
subm
itti
ng
to t
he
juri
sdic
tion
of
the
Cen
tre.
Th
e Se
cret
ary-
Gen
eral
sh
all
fort
hwit
h t
ran
smit
su
ch n
otif
icat
ion
to
all
Con
trac
tin
g
18
Convention
25
-
Stat
es.
Such
not
ific
atio
n s
hal
l n
ot c
onst
itu
te t
he
con
sen
t re
quir
ed b
ypa
ragr
aph
(1)
.
Art
icle
26
Con
sen
t of
the
part
ies
to a
rbit
rati
on u
nde
r th
is C
onve
nti
on s
hal
l,u
nle
ss o
ther
wis
e st
ated
,be
deem
ed c
onse
nt
to s
uch
arb
itra
tion
to
the
excl
usi
on o
fan
y ot
her
rem
edy.
A C
ontr
acti
ng
Stat
e m
ay r
equ
ire
the
exh
aust
ion
of
loca
l adm
inis
trat
ive
or ju
dici
al r
emed
ies
as a
con
diti
on o
fit
s co
nse
nt
to a
rbit
rati
on u
nde
r th
is C
onve
nti
on.
Art
icle
27
(1)
No
Con
trac
tin
g St
ate
shal
l giv
e di
plom
atic
pro
tect
ion
,or
brin
gan
in
tern
atio
nal
cla
im,i
n r
esp
ect
ofa
disp
ute
wh
ich
on
e of
its
nat
ion
-al
s an
d an
oth
er C
ontr
acti
ng
Stat
e sh
all
hav
e co
nse
nte
d to
su
bmit
or
shal
l hav
e su
bmit
ted
to a
rbit
rati
on u
nde
r th
is C
onve
nti
on,u
nle
ss s
uch
oth
er C
ontr
acti
ng
Stat
e sh
all
hav
e fa
iled
to a
bide
by
and
com
ply
wit
hth
e aw
ard
ren
dere
d in
su
ch d
ispu
te.
(2)
Dip
lom
atic
pro
tect
ion
,for
th
e pu
rpos
es o
fpa
ragr
aph
(1)
,sh
all
not
incl
ude
info
rmal
dip
lom
atic
exc
han
ges
for
the
sole
pu
rpos
e of
faci
l-it
atin
g a
sett
lem
ent
ofth
e di
spu
te.
Chap
ter
III
Conc
iliat
ion
Sect
ion
1Re
ques
t fo
r Co
ncili
atio
n
Art
icle
28
(1)
Any
Con
trac
tin
g St
ate
or a
ny n
atio
nal
of
a C
ontr
acti
ng
Stat
ew
ish
ing
to i
nst
itu
te c
onci
liati
on p
roce
edin
gs s
hal
l ad
dres
s a
requ
est
toth
at e
ffec
t in
wri
tin
g to
th
e Se
cret
ary-
Gen
eral
wh
o sh
all s
end
a co
py o
fth
e re
ques
t to
th
e ot
her
par
ty.
(2)
Th
e re
ques
t sh
all c
onta
in in
form
atio
n c
once
rnin
g th
e is
sues
indi
spu
te,t
he
iden
tity
of
the
part
ies
and
thei
r co
nse
nt
to c
onci
liati
on i
nac
cord
ance
wit
h t
he
rule
s of
proc
edu
re f
or t
he
inst
itu
tion
of
con
cilia
-ti
on a
nd
arbi
trat
ion
pro
ceed
ings
.
(3)
Th
e Se
cret
ary-
Gen
eral
sh
all r
egis
ter
the
requ
est
un
less
he
fin
ds,
on t
he
basi
s of
the
info
rmat
ion
con
tain
ed i
n t
he
requ
est,
that
th
e di
s-pu
te is
man
ifes
tly
outs
ide
the
juri
sdic
tion
of
the
Cen
tre.
He
shal
l for
th-
wit
h n
otif
y th
e pa
rtie
s of
regi
stra
tion
or
refu
sal t
o re
gist
er.
19
Convention
Sect
ion
2Co
nsti
tuti
on o
f th
e Co
ncili
atio
n Co
mm
issi
on
Art
icle
29
(1)
Th
e C
onci
liati
on C
omm
issi
on (
her
ein
afte
r ca
lled
the
Com
mis
-si
on)
shal
l be
con
stit
ute
d as
soo
n a
s po
ssib
le a
fter
reg
istr
atio
n o
fa
requ
est
purs
uan
t to
Art
icle
28.
(2)
(a)
Th
e C
omm
issi
on s
hal
l co
nsi
st o
fa
sole
con
cilia
tor
or a
nyu
nev
en n
um
ber
ofco
nci
liato
rs a
ppoi
nte
d as
th
e pa
rtie
ssh
all a
gree
.
(b)
Wh
ere
the
part
ies
do n
ot a
gree
upo
n t
he
nu
mbe
r of
con
-ci
liato
rs a
nd
the
met
hod
of
thei
r ap
poin
tmen
t,th
e C
om-
mis
sion
sh
all
con
sist
of
thre
e co
nci
liato
rs,
one
con
cilia
tor
appo
inte
d by
eac
h p
arty
an
d th
e th
ird,
wh
o sh
all
be t
he
pres
iden
t of
the
Com
mis
sion
,ap
poin
ted
by a
gree
men
t of
the
part
ies.
Art
icle
30
Ifth
e C
omm
issi
on s
hal
l n
ot h
ave
been
con
stit
ute
d w
ith
in 9
0 da
ysaf
ter
not
ice
ofre
gist
rati
on o
fth
e re
ques
t h
as b
een
dis
patc
hed
by
the
Secr
etar
y-G
ener
al i
n a
ccor
dan
ce w
ith
par
agra
ph (
3) o
fA
rtic
le 2
8,or
such
oth
er p
erio
d as
th
e pa
rtie
s m
ay a
gree
,th
e C
hai
rman
sh
all,
at t
he
requ
est
ofei
ther
par
ty a
nd
afte
r co
nsu
ltin
g bo
th p
arti
es a
s fa
r as
pos
si-
ble,
appo
int
the
con
cilia
tor
or c
onci
liato
rs n
ot y
et a
ppoi
nte
d.
Art
icle
31
(1)
Con
cilia
tors
may
be
appo
inte
d fr
om o
uts
ide
the
Pan
el o
fC
on-
cilia
tors
,exc
ept
in t
he
case
of
appo
intm
ents
by
the
Ch
airm
an p
urs
uan
tto
Art
icle
30.
(2)
Con
cilia
tors
app
oin
ted
from
ou
tsid
e th
e Pa
nel
of
Con
cilia
tors
shal
l pos
sess
th
e qu
alit
ies
stat
ed in
par
agra
ph (
1) o
fA
rtic
le 1
4.
Sect
ion
3Co
ncili
atio
n Pr
ocee
ding
s
Art
icle
32
(1)
Th
e C
omm
issi
on s
hal
l be
the
judg
e of
its
own
com
pete
nce
.
(2)
Any
obj
ecti
on b
y a
part
y to
th
e di
spu
te t
hat
th
at d
ispu
te is
not
wit
hin
th
e ju
risd
icti
on o
fth
e C
entr
e,or
for
oth
er r
easo
ns
is n
ot w
ith
inth
e co
mpe
ten
ce o
fth
e C
omm
issi
on,
shal
l be
con
side
red
by t
he
Com
-
20
Convention
26
-
mis
sion
wh
ich
sh
all d
eter
min
e w
het
her
to
deal
wit
h it
as
a pr
elim
inar
yqu
esti
on o
r to
join
it t
o th
e m
erit
s of
the
disp
ute
.
Art
icle
33
Any
con
cilia
tion
pro
ceed
ing
shal
l be
con
duct
ed in
acc
orda
nce
wit
hth
e pr
ovis
ion
s of
this
Sec
tion
an
d,ex
cept
as
the
part
ies
oth
erw
ise
agre
e,in
acc
orda
nce
wit
h th
e C
onci
liati
on R
ule
s in
eff
ect o
n th
e da
te o
n w
hic
hth
e pa
rtie
s co
nse
nte
d to
con
cilia
tion
.Ifa
ny q
ues
tion
ofp
roce
dure
ari
ses
wh
ich
is
not
cov
ered
by
this
Sec
tion
or
the
Con
cilia
tion
Ru
les
or a
nyru
les
agre
ed b
y th
e pa
rtie
s,th
e C
omm
issi
on s
hal
l dec
ide
the
ques
tion
.
Art
icle
34
(1)
It s
hal
l be
th
e du
ty o
fth
e C
omm
issi
on t
o cl
arif
y th
e is
sues
in
disp
ute
bet
wee
n th
e pa
rtie
s an
d to
en
deav
our
to b
rin
g ab
out a
gree
men
tbe
twee
n t
hem
upo
n m
utu
ally
acc
epta
ble
term
s.To
th
at e
nd,
the
Com
-m
issi
on m
ay a
t an
y st
age
ofth
e pr
ocee
din
gs a
nd
from
tim
e to
tim
e re
c-om
men
d te
rms
ofse
ttle
men
t to
th
e pa
rtie
s.T
he
part
ies
shal
l coo
pera
tein
goo
d fa
ith
wit
h t
he
Com
mis
sion
in o
rder
to
enab
le t
he
Com
mis
sion
to c
