{"html": "<div class=\"lf-doc\"><p class=\"lf-p\">award on agreed terms.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>An award on agreed terms shall be made in accordance with the provisions of article 31 and shall state that it is an award. Such an award has the same status and effect as any other award on the merits of the case.</div>\n<h4 class=\"lf-art\" id=\"a-31\"><span class=\"lf-art-num\">Article 31</span><span class=\"lf-art-t\">Form and contents of award</span></h4>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>The award shall be made in writing and shall be signed by the arbitrator or arbitrators. In arbitral proceedings with more than one arbitrator, the signatures of the majority of all members of the arbitral tribunal shall suffice, provided that the reason for any omitted signature is stated.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The award shall state the reasons upon which it is based, unless the parties have agreed that no reasons are to be given or the award is an award on agreed terms under article 30.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The award shall state its date and the place of arbitration as determined in accordance with article 20 (1). The award shall be deemed to have been made at that place.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>After the award is made, a copy signed by the arbitrators in accordance with paragraph (1) shall be delivered to each party.</div>\n<h4 class=\"lf-art\" id=\"a-32\"><span class=\"lf-art-num\">Article 32</span><span class=\"lf-art-t\">Termination of proceedings</span></h4>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>The arbitral proceedings are terminated by the final award or by an order of the arbitral tribunal in accordance with paragraph (2).</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The arbitral tribunal shall issue an order for the termination of the arbitral proceedings when:</div>\n<p class=\"lf-p\">ARBITRATION (a) the claimant withdraws his claim, unless the respondent objects thereto and the arbitral tribunal recognises a legitimate interest on his part in obtaining a final settlement of the dispute; (b) the parties agree on the termination of the proceedings; (c) the arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The mandate of the arbitral tribunal terminates with the termination of the arbitral proceedings, subject to the provisions of articles 33 and 34 (4).</div>\n<h4 class=\"lf-art\" id=\"a-33\"><span class=\"lf-art-num\">Article 33</span><span class=\"lf-art-t\">Correction and interpretation of award, additional award</span></h4>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>Within thirty days of receipt of the award, unless another period of time has been agreed upon by the parties: (a) a party, with notice to the other party, may request the arbitral tribunal to correct in the award any errors in computation, any clerical or typographical errors or any errors of similar nature; (b) if so agreed by the parties, a party, with notice to the other party, may request the arbitral tribunal to give an interpretation of a specific point or part of the award.</div>\n<p class=\"lf-p\">If the arbitral tribunal considers the request to be justified, it shall make the correction or give the interpretation within thirty days of receipt of the request. The interpretation shall form part of the award.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The arbitral tribunal may correct any error of the type referred to in paragraph (1) (a) on its own initiative within thirty days of the date of the award.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>Unless otherwise agreed by the parties, a party, with notice to the other party, may request, within thirty days of receipt of the award, the arbitral tribunal to make an additional award as to claims presented in the arbitral proceedings but omitted from the award. If the arbitral tribunal considers the request to be justified, it shall make the additional award within sixty days.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>The arbitral tribunal may extend, if necessary, the period of time within which it shall make a correction, interpretation or an additional award under paragraph (1) or (3).</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(5)</span>The provisions of article 31 shall apply to a correction or interpretation of the award or to an additional award.</div>\n<h3 class=\"lf-part\">CHAPTER VII. RECOURSE AGAINST AWARD</h3>\n<h4 class=\"lf-art\" id=\"a-34\"><span class=\"lf-art-num\">Article 34</span><span class=\"lf-art-t\">Application for setting aside as exclusive recourse against arbitral</span></h4>\n<p class=\"lf-p\">award</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>Recourse to a court against an arbitral award may be made only by an application for setting aside in accordance with paragraphs (2) and (3).</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>An arbitral award may be set aside by the court specified in article 6 only if: (a) the party making the application furnishes proof that: (i) a party to the arbitration agreement referred to in article 7 was under some incapacity; or the said agreement is not valid under the law to which the parties have subjected it or, failing any indication thereon, under the law of this State; or (ii) the party making the application was not given proper notice of ARBITRATION the appointment of an arbitrator or of the arbitral proceedings or was otherwise unable to present his case; or (iii) the award deals with a dispute not contemplated by or not falling within the terms of the submission to arbitration, or contains decisions on matters beyond the scope of the submission to arbitration, provided that, if the decisions on matters submitted to arbitration can be separated from those not so submitted, only that part of the award which contains decisions on matters not submitted to arbitration may be set aside; or (iv) the composition of the arbitral tribunal or the arbitral procedure was not in accordance with the agreement of the parties, unless such agreement was in conflict with a provision of this Law from which the parties cannot derogate, or, failing such agreement, was not in accordance with this Law; or (b) the court finds that: (i) the subject-matter of the dispute is not capable of settlement by arbitration under the law of this State; or (ii) the award is in conflict with the public policy of this State.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>An application for setting aside may not be made after three months have elapsed from the date on which the party making that application had received the award or, if a request had been made under article 33, from the date on which that request had been disposed of by the Arbitration Tribunal.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>The court, when asked to set aside an award, may, where appropriate and so requested by a party, suspend the setting aside proceedings for a period of time determined by it in order to give the arbitral tribunal an opportunity to resume the arbitral proceedings or to take such action as in the arbitral tribunal’s opinion will eliminate the grounds for setting aside.</div>\n<h3 class=\"lf-part\">CHAPTER VIII. RECOGNITION AND ENFORCEMENT OF AWARDS</h3>\n<h4 class=\"lf-art\" id=\"a-35\"><span class=\"lf-art-num\">Article 35</span><span class=\"lf-art-t\">Recognition and Enforcement</span></h4>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>An arbitral award, irrespective of the country in which it was made, shall be recognised as binding and, upon application in writing to the competent court, shall be enforced subject to the provisions of this article and of article 36.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The party relying on an award or applying for its enforcement shall supply the duly authenticated original award or a duly certified copy thereof, and the original arbitration agreement referred to in article 7 or a duly certified copy thereof.</div>\n<p class=\"lf-p\">If the award or agreement is not made in an official language of this State, the party shall supply a duly certified translation thereof into such language. *</p>\n<h4 class=\"lf-art\" id=\"a-36\"><span class=\"lf-art-num\">Article 36</span><span class=\"lf-art-t\">Grounds for refusing recognition or enforcement</span></h4>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>Recognition or enforcement of an arbitral award, irrespective of the country in which it was made, may be refused only: (a) at the request of the party against whom it is invoked, if that party furnishes to the competent court where recognition or enforcement is sought proof that: *The conditions set forth in this paragraph are intended to set maximum standards. It would, thus, not be contrary to the harmonization to be achieved by the Model Law if a State retained even less onerous conditions.</div>\n<p class=\"lf-p\">ARBITRATION (i) a party to the arbitration agreement referred to in article 7 was under some incapacity; or the said agreement is not valid under the law to which the parties have subjected it or, failing any indication thereon, under the law of the country where the award was made; or (ii) the party against whom the award is invoked was not given proper notice of the appointment of an arbitrator or of the arbitral proceedings or was otherwise unable to present his case; or (iii) the award deals with a dispute not contemplated by or not falling within the terms of the submission to arbitration, or it contains decisions on matters beyond the scope of the submission to arbitration, provided that, if the decision on matters submitted to arbitration can be separated from those not so submitted, that part of the award which contains decisions on matters submitted to arbitration may be recognised and enforced; or (iv) the composition of the arbitral tribunal or the arbitral procedure was not in accordance with the agreement of the parties or, failing such agreement, was not in accordance with the law of the country where the arbitration took place; or (v) the award has not yet become binding on the parties or has been set aside or suspended by a court of the country in which, or under the law of which, that award was made; or (b) if the court finds that: (i) the subject-matter of the dispute is not capable of settlement by arbitration under the law of this State; or (ii) the recognition or enforcement of the award would be contrary to the public policy of this State.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>If an application for setting aside or suspension of an award has been made to a court referred to in paragraph (1) (a) (v), the court where recognition or enforcement is sought may, if it considers it proper, adjourn its decision and may also, on the application of the party claiming recognition or enforcement of the award, order the other party to provide appropriate security.</div>\n<p class=\"lf-p\">ARBITRATION SECOND SCHEDULE</p>\n<h3 class=\"lf-part\">Part I</h3>\n<p class=\"lf-p\">PROTOCOL ON ARBITRATION CLAUSES (GENEVA 1923) Amended by:</p>\n<p class=\"lf-p\">XVIII. 1999.31.</p>\n<p class=\"lf-p\">Substituted by:</p>\n<p class=\"lf-p\">L.N. 304 of 2004.</p>\n<p class=\"lf-p\">The undersigned, being duly authorised, declare that they accept, on behalf of the countries which they represent, the following provisions:</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>Each of the Contracting States recognises the validity of an agreement whether relating to existing or future differences between parties, subject respectively to the jurisdiction of different Contracting States by which the parties to a contract agree to submit to arbitration all or any differences that may arise in connection with such contract relating to commercial matters or to any other matter capable of settlement by arbitration, whether or not the arbitration is to take place in a country to whose jurisdiction none of the parties is subject.</div>\n<p class=\"lf-p\">Each Contracting State reserves the right to limit the obligation mentioned above to contracts which are considered as commercial under its national law. Any Contracting State which avails itself of this right will notify the Secretary-General of the League of Nations, in order that the other Contracting States may be so informed.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The arbitral procedure, including the constitution of the arbitral tribunal, shall be governed by the will of the parties and by the law of the country in whose territory the arbitration takes place.</div>\n<p class=\"lf-p\">The Contracting States agree to facilitate all steps in the procedure which require to be taken in their own territories, in accordance with the provisions of their law governing arbitral procedure applicable to existing differences.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>Each Contracting State undertakes to ensure the execution by its authorities and in accordance with the provisions of its national laws of arbitral awards made in its own territory under the preceding articles.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>The tribunals of the Contracting Parties, on being seized of a dispute regarding a contract made between persons to whom Article I applies and including an Arbitration Agreement whether referring to present or future differences which is valid in virtue of the said article and capable of being carried into effect, shall refer the parties on the application of either of them to the decision of the arbitrators.</div>\n<p class=\"lf-p\">Such reference shall not prejudice the competence of the judicial tribunals in case the agreement or the arbitration cannot proceed or becomes inoperative.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(5)</span>The present Protocol, which shall remain open for signature by all States, shall be ratified. The ratifications shall be deposited as soon as possible with the Secretary-General of the League of Nations, who shall notify such deposit to all the Signatory States.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(6)</span>The present Protocol will come into force as soon as two ratifications have been deposited. Thereafter it will take effect, in the case of each Contracting State, one month after the notification by the Secretary-General of the deposit of ratification.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(7)</span>The present Protocol may be denounced by any Contracting State on giving one year’s notice. Denunciation shall be effected by a notification addressed to the Secretary-General of the League, who will immediately transmit copies of such notification to all the other Signatory States and inform them of the date on which it was received. The denunciation shall take effect one year after the date on which it ARBITRATION was notified to the Secretary-General, and shall operate only in respect of the notifying State.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(8)</span>The Contracting States may declare that their acceptance of the present Protocol does not include any or all of the under-mentioned territories: that is to say, their colonies, overseas possessions or territories, protectorates or the territories over which they exercise a mandate.</div>\n<p class=\"lf-p\">The said States may subsequently adhere separately on behalf of any territory thus excluded. The Secretary-General of the League of Nations shall be informed as soon as possible of such adhesions. He shall notify such adhesions to all Signatory States. They will take effect one month after the notification by the Secretary-General to all Signatory States.</p>\n<p class=\"lf-p\">The Contracting States may also denounce the Protocol separately on behalf of any of the territories referred to above. Article 7 applies to such denunciation.</p>\n<h3 class=\"lf-part\">Part II</h3>\n<p class=\"lf-p\">CONVENTION ON THE EXECUTION OF FOREIGN ARBITRAL AWARDS (GENEVA 1927)</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 1</span><span class=\"lf-art-t\">In the territories of any High Contracting Party to which the present</span></h4>\n<p class=\"lf-p\">Convention applies, all arbitral awards made in pursuance of an agreement whether relating to existing or future differences (hereinafter called \"a submission to arbitration\") covered by the Protocol on Arbitration Clauses, opened at Geneva on September 24, 1923, shall be recognised as binding and shall be enforced in accordance with the rules of the procedure of the territory where the award is relied upon, provided that the said award has been made in a territory of one of the High Contracting Parties to which the present Convention applies and between persons who are subject to the jurisdiction of one of the High Contracting Parties.</p>\n<p class=\"lf-p\">To obtain such recognition or enforcement, it shall, further, be necessary: (a) That the award has been made in pursuance of a submission to arbitration which is valid under the law applicable thereto; (b) That the subject-matter of the award is capable of settlement by arbitration under the law of the country in which the award is sought to be relied upon; (c) That the award has been made by the Arbitral Tribunal provided for in the submission to arbitration or constituted in the manner agreed upon by the parties and in conformity with the law governing the arbitration procedure; (d) That the award has become final in the country in which it has been made, in the sense that it will not be considered as such if it is open to opposition, appeal or pourvoi en cassation (in the countries where such forms of procedure exist) or if it is proved that any proceedings for the purpose of contesting the validity of the award are pending; (e) That the recognition or enforcement of the award is not contrary to the public policy or to the principles of the law of the country in which it is sought to be relied upon.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 2</span><span class=\"lf-art-t\">Even if the conditions laid down in Article 1 hereof are fulfilled, recognition</span></h4>\n<p class=\"lf-p\">and enforcement of the award shall be refused if the Court is satisfied:</p>\n<p class=\"lf-p\">ARBITRATION (a) That the award has been annulled in the country in which it was made; (b) That the party against whom it is sought to use the award was not given notice of the arbitration proceedings in sufficient time to enable him to present his case; or that, being under a legal incapacity, he was not properly represented; (c) That the award does not deal with the differences contemplated by or falling within the terms of the submission to arbitration or that it contains decisions on matters beyond the scope of the submission to arbitration.</p>\n<p class=\"lf-p\">If the award has not covered all the questions submitted to the arbitral tribunal, the competent authority of the country where recognition or enforcement of the award is sought can, if it thinks fit, postpone such recognition or enforcement or grant it subject to such guarantee as that authority may decide.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 3</span><span class=\"lf-art-t\">If the party against whom the award has been made proves that under the</span></h4>\n<p class=\"lf-p\">law governing the arbitration procedure, there is a ground, other than the grounds referred to in Article 1 (a) and (c), and Article 2 (b) and (c), entitling him to contest the validity of the award in a Court of Law, the Court may, if it thinks fit, either refuse recognition or enforcement of the award or adjourn the consideration thereof, giving such party a reasonable time within which to have the award annulled by the competent tribunal.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 4</span><span class=\"lf-art-t\">The party relying upon an award or claiming its enforcement must supply, in</span></h4>\n<p class=\"lf-p\">particular:</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>The original award or a copy thereof duly authenticated, according to the requirements of the law of the country in which it was made;</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Documentary or other evidence to prove that the award has become final, in the sense defined in Article 1 (d), in the country in which it was made;</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>When necessary, documentary or other evidence to prove that the condition laid down in Article 1, paragraph 1 and paragraph 2 (a) and (c), have been fulfilled.</div>\n<p class=\"lf-p\">A translation of the award and of the other documents mentioned in the Article into the official language of the country where the award is sought to be relied upon may be demanded. Such translation must be certified correct by a diplomatic or consular agent of the country to which the party who seeks to rely upon the award belongs or by a sworn translator of the country where the award is sought to be relied upon.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 5</span><span class=\"lf-art-t\">The provisions of the above Articles shall not deprive any interested party of</span></h4>\n<p class=\"lf-p\">the right of availing himself of an arbitral award in the manner and to the extent allowed by the law or the treaties of the country where such award is sought to be relied upon.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 6</span><span class=\"lf-art-t\">The present Convention applies only to arbitral awards made after the</span></h4>\n<p class=\"lf-p\">coming into force of the Protocol on Arbitration Clauses, opened at Geneva on September 24, 1923.</p>\n<p class=\"lf-p\">ARBITRATION</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 7</span><span class=\"lf-art-t\">The present Convention, which will remain open to the signature of all the</span></h4>\n<p class=\"lf-p\">signatories of the Protocol of 1923 on Arbitration Clauses, shall be ratified.</p>\n<p class=\"lf-p\">It may be ratified only on behalf of those Members of the League of Nations and non-Member States on whose behalf the Protocol of 1923 shall have been ratified.</p>\n<p class=\"lf-p\">Ratifications shall be deposited as soon as possible with the SecretaryGeneral of the League of Nations, who will notify such deposit to all the signatories.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 8</span><span class=\"lf-art-t\">The present Convention shall come into force three months after it shall</span></h4>\n<p class=\"lf-p\">have been ratified on behalf of two High Contracting Parties. Thereafter, it shall take effect, in the case of each High Contracting Party, three months after the deposit of the ratification on its behalf with the Secretary-General of the League of Nations.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 9</span><span class=\"lf-art-t\">The present Convention may be denounced on behalf of any Member of the</span></h4>\n<p class=\"lf-p\">League or non-Member State. Denunciation shall be notified in writing to the Secretary-General of the League of Nations, who will immediately send a copy thereof, certified to be in conformity with the notification, to all the other Contracting Parties, at the same time informing them of the date on which he received it.</p>\n<p class=\"lf-p\">The denunciation shall come into force only in respect of the High Contracting Party which shall have notified it and one year after such notification shall have reached the Secretary-General of the League of Nations. The denunciation of the Protocol on Arbitration Clauses shall entail, ipso facto, the denunciation of the present Convention.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 10</span><span class=\"lf-art-t\">The present Convention does not apply to the Colonies, Protectorates or</span></h4>\n<p class=\"lf-p\">territories under suzerainty or mandate of any High Contracting Party unless they are specially mentioned.</p>\n<p class=\"lf-p\">The application of this Convention to one or more of such Colonies, Protectorates or territories to which the Protocol on Arbitration Clauses, opened at Geneva on September 24, 1923, applies, can be affected at any time by means of a declaration addressed to the Secretary-General of the League of Nations by one of the High Contracting Parties.</p>\n<p class=\"lf-p\">Such declaration shall take effect three months after the deposit thereof.</p>\n<p class=\"lf-p\">The High Contracting Parties can at any time denounce the Convention for all or any of the Colonies, Protectorates or territories referred to above. Article 9 hereof applies to such denunciation.</p>\n<h4 class=\"lf-art\"><span class=\"lf-art-num\">Article 11</span><span class=\"lf-art-t\">A certified copy of the present Convention shall be transmitted by the</span></h4>\n<p class=\"lf-p\">Secretary-General of the League of Nations to every Member of the League of Nations and to every non-Member State which signs the same.</p>\n<p class=\"lf-p\">In faith whereof the above-named Plenipotentiaries have signed the present Convention.</p>\n<p class=\"lf-p\">DONE AT Geneva, on the twenty-sixth day of September one thousand nine hundred and twenty- seven, in a single copy, of which the English and French texts ARBITRATION are both authentic, and which will be kept in the archives of the League of Nations.</p>\n<h3 class=\"lf-part\">Part III</h3>\n<p class=\"lf-p\">CONVENTION ON THE RECOGNITION AND ENFORCEMENT OF FOREIGN ARBITRAL AWARDS (NEW YORK 1958) ARTICLE I 1.</p>\n<p class=\"lf-p\">This Convention shall apply to the recognition and enforcement of arbitral awards made in the territory of a State other than the State where the recognition and enforcement of such awards are sought, and arising out of differences between persons, whether physical or legal. It shall also apply to arbitral awards not considered as domestic awards in the State where their recognition and enforcement are sought.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">The term \"arbitral awards\" shall include not only awards made by arbitrators appointed for each case but also those made by permanent arbitral bodies to which the parties have submitted.</p>\n<p class=\"lf-p\">3.</p>\n<p class=\"lf-p\">When signing, ratifying or acceding to this Convention, or notifying extension under article X hereof, any State may on the basis of reciprocity declare that it will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State. It may also declare that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of the State making such declaration.</p>\n<p class=\"lf-p\">ARTICLE II 1.</p>\n<p class=\"lf-p\">Each Contracting State shall recognize an agreement in writing under which the parties undertake to submit to arbitration all or any differences which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not, concerning a subject matter capable of settlement by arbitration.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">The term \"agreement in writing\" shall include an arbitral clause in a contract or an arbitration agreement, signed by the parties or contained in an exchange of letters or telegrams.</p>\n<p class=\"lf-p\">3.</p>\n<p class=\"lf-p\">The court of a Contracting State, when seized of an action in a matter in respect of which the parties have made an agreement within the meaning of this article, shall, at the request of one of the parties, refer the parties to arbitration, unless it finds that the said agreement is null and void, inoperative or incapable of being performed.</p>\n<p class=\"lf-p\">ARTICLE III Each Contracting State shall recognize arbitral awards as binding and enforce them in accordance with the rules of procedure of the territory where the award is relied upon, under the conditions laid down in the following articles. There shall not be imposed substantially more onerous conditions or higher fees or charges on the recognition or enforcement of arbitral awards to which this Convention applies than are imposed on the recognition or enforcement of domestic arbitral awards.</p>\n<p class=\"lf-p\">ARTICLE IV 1.</p>\n<p class=\"lf-p\">To obtain the recognition and enforcement mentioned in the preceding article, the party applying for recognition and enforcement shall, at the time of the application, supply: (a) The duly authenticated original award or a duly certified copy thereof;</p>\n<p class=\"lf-p\">ARBITRATION (b) The original agreement referred to in Article II or a duly certified copy thereof.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">If the said award or agreement is not made in an official language of the country in which the award is relied upon, the party applying for recognition and enforcement of the award shall produce a translation of these documents into such language. The translation shall be certified by an official or sworn translator or by a diplomatic or consular agent.</p>\n<p class=\"lf-p\">ARTICLE V 1.</p>\n<p class=\"lf-p\">Recognition and enforcement of the award may be refused, at the request of the party against whom it is invoked, only if that party furnishes to the competent authority where the recognition and enforcement is sought, proof that: (a) The parties to the agreement referred to in Article II were, under the law applicable to them, under some incapacity, or the said agreement is not valid under the law to which the parties have subjected it or, failing any indication thereon, under the law of the country where the award was made; or (b) The party against whom the award is invoked was not given proper notice of the appointment of the arbitrator or of the arbitration proceedings or was otherwise unable to present his case; or (c) The award deals with a difference not contemplated by or not falling within the terms of the submission to arbitration, or it contains decisions on matters beyond the scope of the submission to arbitration, provided that, if the decisions on matters submitted to arbitration can be separated from those not so submitted, that part of the award which contains decisions on matters submitted to arbitration may be recognized and enforced; or (d) The composition of the arbitral authority or the arbitral procedure was not in accordance with the agreement of the parties, or, failing such agreement, was not in accordance with the law of the country where the arbitration took place; or (e) The award has not yet become binding on the parties, or has been set aside or suspended by a competent authority of the country in which, or under the law of which, that award was made.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">Recognition and enforcement of an arbitral award may also be refused if the competent authority in the country where recognition and enforcement is sought finds that: (a) The subject matter of the difference is not capable of settlement by arbitration under the law of that country; or (b) The recognition or enforcement of the award would be contrary to the public policy of that country.</p>\n<p class=\"lf-p\">ARTICLE VI If an application for the setting aside or suspension of the award has been made to a competent authority referred to in Article V (1)(e), the authority before which the award is sought to be relied upon may, if it considers it proper, adjourn the decision on the enforcement of the award and may also, on the application of the party claiming enforcement of the award, order the other party to give suitable security.</p>\n<p class=\"lf-p\">ARTICLE VII ARBITRATION 1.</p>\n<p class=\"lf-p\">The provisions of the present Convention shall not affect the validity of multilateral or bilateral agreements concerning the recognition and enforcement of arbitral awards entered into by the Contracting States nor deprive an interested party of any right he may have to avail himself of an arbitral award in the manner and to the extent allowed by the law or the treaties of the country where such award is sought to be relied upon.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">The Geneva Protocol on Arbitration Clauses of 1923 and the Geneva Convention on the Execution of Foreign Arbitral Awards of 1927 shall cease to have effect between Contracting States on their becoming bound and to the extent that they become bound, by this Convention.</p>\n<p class=\"lf-p\">ARTICLE VIII 1.</p>\n<p class=\"lf-p\">This Convention shall be open until 31 December 1958 for signature on behalf of any Member of the United Nations and also on behalf of any other State which is or hereafter becomes a member of any specialized agency of the United Nations, or which is or hereafter becomes a party to the Statute of the International Court of Justice, or any other State to which an invitation has been addressed by the General Assembly of the United Nations.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">This Convention shall be ratified and the instrument of ratification shall be deposited with the Secretary-General of the United Nations.</p>\n<p class=\"lf-p\">ARTICLE IX 1.</p>\n<p class=\"lf-p\">This Convention shall be open for accession to all States referred to in Article VIII.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">Accession shall be effected by the deposit of an instrument of accession with the Secretary-General of the United Nations.</p>\n<p class=\"lf-p\">ARTICLE X 1.</p>\n<p class=\"lf-p\">Any State may, at the time of signature, ratification or accession, declare that this Convention shall extend to all or any of the territories for the international relations of which it is responsible. Such a declaration shall take effect when the Convention enters into force for the State concerned.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">At any time thereafter any such extension shall be made by notification addressed to the Secretary-General of the United Nations and shall take effect as from the ninetieth day after the day of receipt by the Secretary-General of the United Nations of this notification, or as from the date of entry into force of the Convention for the State concerned, whichever is the later.</p>\n<p class=\"lf-p\">3.</p>\n<p class=\"lf-p\">With respect to those territories to which this Convention is not extended at the time of signature, ratification or accession, each State concerned shall consider the possibility of taking the necessary steps in order to extend the application of this Convention to such territories, subject, where necessary for constitutional reasons, to the consent of the Governments of such territories.</p>\n<p class=\"lf-p\">ARTICLE XI apply:</p>\n<p class=\"lf-p\">In the case of a federal or non-unitary State, the following provisions shall (a) With respect to those articles of this Convention that come within the legislative jurisdiction of the federal authority, the obligations of the federal Government shall to this extent be the same as those of Contracting States which are not federal States; (b) With respect to those articles of this Convention that come within the ARBITRATION legislative jurisdiction of constituent states or provinces which are not, under the constitutional system of the federation, bound to take legislative action, the federal Government shall bring such articles with a favourable recommendation to the notice of the appropriate authorities of constituent states or provinces at the earliest possible moment; (c) A federal State Party to this Convention shall, at the request of any other Contracting State transmitted through the Secretary-General of the United Nations, supply a statement of the law and practice of the federation and its constituent units in regard to any particular provision of this Convention, showing the extent to which effect has been given to that provision by legislative or other action.</p>\n<p class=\"lf-p\">ARTICLE XII 1.</p>\n<p class=\"lf-p\">This Convention shall come into force on the ninetieth day following the date of deposit of the third instrument of ratification or accession.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">For each State ratifying or acceding to this Convention after the deposit of the third instrument of ratification or accession, this Convention shall enter into force on the ninetieth day after deposit by such State of its instrument of ratification or accession.</p>\n<p class=\"lf-p\">ARTICLE XIII 1.</p>\n<p class=\"lf-p\">Any Contracting State may denounce this Convention by a written notification to the Secretary-General of the United Nations. Denunciation shall take effect one year after the date of receipt of the notification by the Secretary-General.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">Any State which has made a declaration or notification under article X may, at any time thereafter, by notification to the Secretary-General of the United Nations, declare that this Convention shall cease to extend to the territory concerned one year after the date of the receipt of the notification by the Secretary-General.</p>\n<p class=\"lf-p\">3.</p>\n<p class=\"lf-p\">This Convention shall continue to be applicable to arbitral awards in respect of which recognition or enforcement proceedings have been instituted before the denunciation takes effect.</p>\n<p class=\"lf-p\">ARTICLE XIV A Contracting State shall not be entitled to avail itself of the present Convention against other Contracting States except to the extent that it is itself bound to apply the Convention.</p>\n<p class=\"lf-p\">ARTICLE XV The Secretary-General of the United Nations shall notify the States contemplated in article VIII of the following: (a) (b) (c) (d) Signatures and ratifications in accordance with Article VIII;</p>\n<p class=\"lf-p\">Accessions in accordance with Article IX;</p>\n<p class=\"lf-p\">Declarations and notifications under Articles I, X and XI;</p>\n<p class=\"lf-p\">The date upon which this Convention enters into force in accordance with Article XII; and (e) Denunciations and notifications in accordance with Article XIII.</p>\n<p class=\"lf-p\">ARTICLE XVI 1.</p>\n<p class=\"lf-p\">This Convention, of which the Chinese, English, French, Russian and Spanish texts shall be equally authentic, shall be deposited in the archives of the United Nations.</p>\n<p class=\"lf-p\">ARBITRATION 2.</p>\n<p class=\"lf-p\">The Secretary-General of the United Nations shall transmit a certified copy of this Convention to the States contemplated in Article VIII.</p>\n<p class=\"lf-p\">Declaration made by Malta on its becoming a member to the United Nations Convention on the recognition and enforcement of Foreign Arbitral Awards (New York 1958) 1.</p>\n<p class=\"lf-p\">In accordance with the relevant provisions of the Convention, Malta will apply the Convention only to the recognition and enforcement of awards made in the territory of another Contracting State.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">The Convention only applies in regard to Malta with respect to arbitration agreements concluded after the date of Malta’s accession to the Convention and awards pursuant thereto made after the date of Malta’s accession to the Convention.</p>\n<p class=\"lf-p\">ARBITRATION THIRD SCHEDULE Amended by:</p>\n<p class=\"lf-p\">XVIII. 1999.32.</p>\n<p class=\"lf-p\">CONVENTION ON THE SETTLEMENT OF INVESTMENT DISPUTES BETWEEN STATES AND NATIONALS OF OTHER STATES (WASHINGTON 1965) Preamble The Contracting States Considering the need for international co-operation for economic development, and the role of private international investment therein;</p>\n<p class=\"lf-p\">Bearing in mind the possibility that from time to time disputes may arise in connection with such investment between Contracting States and nationals of other Contracting States;</p>\n<p class=\"lf-p\">Recognising that while such disputes would usually be subject to national legal processes, international methods of settlement may be appropriate in certain cases;</p>\n<p class=\"lf-p\">Attaching particular importance to the availability of facilities for international conciliation or arbitration to which Contracting States may submit such disputes if they so desire;</p>\n<p class=\"lf-p\">Desiring to establish such facilities under the auspices of the International Bank for Reconstruction and Development;</p>\n<p class=\"lf-p\">Recognising that mutual consent by the parties to submit such disputes to conciliation or to arbitration through such facilities constitutes a binding agreement which requires in particular that due consideration be given to any recommendation of conciliators, and that any arbitral award be complied with; and Declaring that no Contracting State shall by the mere fact of its ratification, acceptance or approval of this Convention and without its consent be deemed to be under any obligation to submit any particular dispute to conciliation or arbitration;</p>\n<p class=\"lf-p\">Have agreed as follows:</p>\n<h3 class=\"lf-part\">CHAPTER I</h3>\n<p class=\"lf-p\">INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES</p>\n<h3 class=\"lf-part\">SECTION 1</h3>\n<p class=\"lf-p\">Establishment and Organisation ARTICLE I</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>There is hereby established the International Centre for Settlement of Investment Disputes (hereinafter called the Centre).</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The purpose of the Centre shall be to provide facilities for conciliation and arbitration of investment disputes between Contracting States and nationals of other ARBITRATION Contracting States in accordance with the provisions of this Convention.</div>\n<h4 class=\"lf-art\" id=\"a-2-36\"><span class=\"lf-art-num\">ARTICLE 2</span><span class=\"lf-art-t\">The seat of the Centre shall be at the principal office of the International Bank for</span></h4>\n<p class=\"lf-p\">Reconstruction and Development (hereinafter called the Bank). The seat may be moved to another place by decision of the Administrative Council adopted by a majority of two-thirds of its members.</p>\n<h4 class=\"lf-art\" id=\"a-3-37\"><span class=\"lf-art-num\">ARTICLE 3</span><span class=\"lf-art-t\">The Centre shall have an Administrative Council and a Secretariat and shall</span></h4>\n<p class=\"lf-p\">maintain a Panel of Conciliators and a Panel of Arbitrators.</p>\n<h3 class=\"lf-part\">SECTION 2</h3>\n<p class=\"lf-p\">The Administrative Council</p>\n<h4 class=\"lf-art\" id=\"a-4-38\"><span class=\"lf-art-num\">ARTICLE 4</span><span class=\"lf-art-t\">(1) The Administrative Council shall be composed of one representative of each</span></h4>\n<p class=\"lf-p\">Contracting State. An alternate may act as representative in case of his principal’s absence from a meeting or inability to act.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>In the absence of a contrary designation, each governor and alternate governor of the Bank appointed by a Contracting State shall be ex officio its representative and its alternate respectively.</div>\n<h4 class=\"lf-art\" id=\"a-5-39\"><span class=\"lf-art-num\">ARTICLE 5</span><span class=\"lf-art-t\">The President of the Bank shall be ex officio Chairman of the Administrative</span></h4>\n<p class=\"lf-p\">Council (hereinafter called the Chairman) but shall have no vote. During his absence or inability to act and during any vacancy in the office of President of the Bank, the person for the time being acting as President shall act as Chairman of the Administrative Council.</p>\n<h4 class=\"lf-art\" id=\"a-6-40\"><span class=\"lf-art-num\">ARTICLE 6</span><span class=\"lf-art-t\">(1) Without prejudice to the powers and functions vested in it by other</span></h4>\n<p class=\"lf-p\">provisions of this Convention, the Administrative Council shall (a) adopt the administrative and financial regulations of the Centre; (b) adopt the rules of procedure for the institution of conciliation and arbitration proceedings; (c) adopt the rules of procedure for conciliation and arbitration proceedings (hereinafter called the Conciliation Rules and the Arbitration Rules); (d) approve arrangements with the Bank for the use of the Bank’s administrative facilities and services; (e) determine the conditions of service of the Secretary-General and of any Deputy Secretary-General; (f) adopt the annual budget of revenue and expenditures of the Centre;</p>\n<p class=\"lf-p\">ARBITRATION (g) approve the annual report on the operation of the Centre.</p>\n<p class=\"lf-p\">The decisions referred to in subparagraphs (a), (b), (c) and (f) above shall be adopted by a majority of two-thirds of the members of the Administrative Council.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The Administrative Council may appoint such committees as it considers necessary.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The Administrative Council shall also exercise such other powers and perform such other functions as it shall determine to be necessary for the implementation of the provisions of this Convention.</div>\n<h4 class=\"lf-art\" id=\"a-7-41\"><span class=\"lf-art-num\">ARTICLE 7</span><span class=\"lf-art-t\">(1) The Administrative Council shall hold an annual meeting and such other</span></h4>\n<p class=\"lf-p\">meetings as may be determined by the Council, or convened by the Chairman, or convened by the Secretary-General at the request of not less than five members of the Council.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Each member of the Administrative Council shall have one vote and, except as otherwise herein provided, all matters before the Council shall be decided by a majority of the votes cast.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>A quorum for any meeting of the Administrative Council shall be a majority of its members.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>The Administrative Council may establish, by a majority of two-thirds of its members, a procedure whereby the Chairman may seek a vote of the Council without convening a meeting of the Council. The vote shall be considered valid only if the majority of the members of the Council cast their votes within the time limit set by the said procedure.</div>\n<h4 class=\"lf-art\" id=\"a-8-42\"><span class=\"lf-art-num\">ARTICLE 8</span><span class=\"lf-art-t\">Members of the Administrative Council and the Chairman shall serve without</span></h4>\n<p class=\"lf-p\">remuneration from the Centre.</p>\n<h3 class=\"lf-part\">SECTION 3</h3>\n<p class=\"lf-p\">The Secretariat</p>\n<h4 class=\"lf-art\" id=\"a-9-43\"><span class=\"lf-art-num\">ARTICLE 9</span><span class=\"lf-art-t\">The Secretariat shall consist of a Secretary-General, one or more Deputy</span></h4>\n<p class=\"lf-p\">Secretaries-General and staff.</p>\n<h4 class=\"lf-art\" id=\"a-10-44\"><span class=\"lf-art-num\">ARTICLE 10</span><span class=\"lf-art-t\">(1) The Secretary-General and any Deputy Secretary-General shall be elected</span></h4>\n<p class=\"lf-p\">by the Administrative Council by a majority of two-thirds of its members upon the nomination of the Chairman for a term of service not exceeding six years and shall be eligible for re-election. After consulting the members of the Administrative Council, the Chairman shall propose one or more candidates for each such office.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The offices of Secretary-General and Deputy Secretary-General shall be ARBITRATION incompatible with the exercise of any political function. Neither the SecretaryGeneral nor any Deputy Secretary-General may hold any other employment or engage in any other occupation except with the approval of the Administrative Council.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>During the Secretary-General’s absence or inability to act, and during any vacancy of the office of Secretary-General, the Deputy Secretary-General shall act as Secretary-General. If there shall be more than one Deputy Secretary-General, the Administrative Council shall determine in advance the order in which they shall act as Secretary-General.</div>\n<h4 class=\"lf-art\" id=\"a-11-45\"><span class=\"lf-art-num\">ARTICLE 11</span><span class=\"lf-art-t\">The Secretary-General shall be the legal representative and the principal officer</span></h4>\n<p class=\"lf-p\">of the Centre and shall be responsible for its administration, including the appointment of staff, in accordance with the provisions of this Convention and the rules adopted by the Administrative Council. He shall perform the function of registrar and shall have the power to authenticate arbitral awards rendered pursuant to this Convention, and to certify copies thereof.</p>\n<h3 class=\"lf-part\">SECTION 4</h3>\n<p class=\"lf-p\">The Panels</p>\n<h4 class=\"lf-art\" id=\"a-12-46\"><span class=\"lf-art-num\">ARTICLE 12</span><span class=\"lf-art-t\">The Panel of Conciliators and the Panel of Arbitrators shall each consist of</span></h4>\n<p class=\"lf-p\">qualified persons, designated as hereinafter provided, who are willing to serve thereon.</p>\n<h4 class=\"lf-art\" id=\"a-13-47\"><span class=\"lf-art-num\">ARTICLE 13</span><span class=\"lf-art-t\">(1) Each Contracting State may designate to each Panel four persons who may</span></h4>\n<p class=\"lf-p\">but need not be its nationals.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The Chairman may designate ten persons to each Panel. The persons so designated to a Panel shall each have a different nationality.</div>\n<h4 class=\"lf-art\" id=\"a-14-48\"><span class=\"lf-art-num\">ARTICLE 14</span><span class=\"lf-art-t\">(1) Persons designated to serve on the Panels shall be persons of high moral</span></h4>\n<p class=\"lf-p\">character and recognised competence in the fields of law, commerce, industry or finance, who may be relied upon to exercise independent judgement. Competence in the field of the law shall be of particular importance in the case of persons on the Panel of Arbitrators.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The Chairman, in designating persons to serve on the Panels, shall in addition pay due regard to the importance of assuring representation on the Panels of the principal legal systems of the world and of the main forms of economic activity.</div>\n<h4 class=\"lf-art\" id=\"a-15-49\"><span class=\"lf-art-num\">ARTICLE 15</span><span class=\"lf-art-t\">(1)</span></h4>\n<p class=\"lf-p\">Panel members shall serve for renewable periods of six years.</p>\n<p class=\"lf-p\">ARBITRATION</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>In case of death or resignation of a member of a Panel, the authority which designated the member shall have the right to designate another person to serve for the remainder of that member’s term.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>Panel members shall continue in office until their successors have been designated.</div>\n<h4 class=\"lf-art\" id=\"a-16-50\"><span class=\"lf-art-num\">ARTICLE 16</span><span class=\"lf-art-t\">(1)</span></h4>\n<p class=\"lf-p\">A person may serve on both Panels.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>If a person shall have been designated to serve on the same Panel by more than one Contracting State, or by one or more Contracting States and the Chairman, he shall be deemed to have been designated by the authority which first designated him or, if one such authority is the State of which he is a national by that State.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>All designations shall be notified to the Secretary-General and shall take effect from the date on which the notification is received.</div>\n<h3 class=\"lf-part\">SECTION 5</h3>\n<p class=\"lf-p\">Financing the Centre</p>\n<h4 class=\"lf-art\" id=\"a-17-51\"><span class=\"lf-art-num\">ARTICLE 17</span><span class=\"lf-art-t\">If the expenditure of the Centre cannot be met out of charges for the use of its</span></h4>\n<p class=\"lf-p\">facilities, or out of other receipts, the excess shall be borne by Contracting States which are members of the Bank in proportion to their respective subscriptions to the capital stock of the Bank, and by Contracting States which are not members of the Bank in accordance with rules adopted by the Administrative Council.</p>\n<h3 class=\"lf-part\">SECTION 6</h3>\n<p class=\"lf-p\">Status, Immunities and Privileges</p>\n<h4 class=\"lf-art\" id=\"a-18-52\"><span class=\"lf-art-num\">ARTICLE 18</span><span class=\"lf-art-t\">The Centre shall have full international legal personality. The legal capacity of</span></h4>\n<p class=\"lf-p\">the Centre shall include the capacity (a) to contract; (b) to acquire and dispose of movable and immovable property; (c) to institute legal proceedings.</p>\n<h4 class=\"lf-art\" id=\"a-19-53\"><span class=\"lf-art-num\">ARTICLE 19</span><span class=\"lf-art-t\">To enable the Centre to fulfil its functions, it shall enjoy in the territories of each</span></h4>\n<p class=\"lf-p\">Contracting Centre the immunities and privileges set forth in this Section.</p>\n<h4 class=\"lf-art\" id=\"a-20-54\"><span class=\"lf-art-num\">ARTICLE 20</span></h4>\n<p class=\"lf-p\">The Centre, its property and assets shall enjoy immunity from all legal process, ARBITRATION except when the Centre waives this immunity.</p>\n<h4 class=\"lf-art\" id=\"a-21-55\"><span class=\"lf-art-num\">ARTICLE 21</span><span class=\"lf-art-t\">The Chairman, the members of the Administrative Council, persons acting as</span></h4>\n<p class=\"lf-p\">conciliators or arbitrators or members of a Committee appointed pursuant to paragraph (3) of Article 52, and the officers and employees of the Secretariat (a) shall enjoy immunity from legal process with respect to acts performed by them in the exercise of their functions, except when the Centre waives this immunity; (b) not being local nationals, shall enjoy the same immunities from immigration restrictions, alien registration requirements and national service obligations, the same facilities as regards exchange restrictions and the same treatment in respect of travelling facilities as are accorded by Contracting States to the representatives, officials and employees of comparable rank of other Contracting States.</p>\n<h4 class=\"lf-art\" id=\"a-22-56\"><span class=\"lf-art-num\">ARTICLE 22</span><span class=\"lf-art-t\">The provisions of Article 21 shall apply to persons appearing in proceedings</span></h4>\n<p class=\"lf-p\">under this Convention as parties, agents, counsel, advocates, witnesses or experts; provided, however, that subparagraph (b) thereof shall apply only in connection with their travel to and from, and their stay at, the place where the proceedings are held.</p>\n<h4 class=\"lf-art\" id=\"a-23-57\"><span class=\"lf-art-num\">ARTICLE 23</span><span class=\"lf-art-t\">(1)</span></h4>\n<p class=\"lf-p\">The archives of the Centre shall be inviolable wherever they may be.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>With regard to its official communications, the Centre shall be accorded by each Contracting State treatment not less favourable than that accorded to other international organisations.</div>\n<h4 class=\"lf-art\" id=\"a-24-58\"><span class=\"lf-art-num\">ARTICLE 24</span><span class=\"lf-art-t\">(1) The Centre, its assets, property and income, and its operations and</span></h4>\n<p class=\"lf-p\">transactions authorised by this Convention shall be exempt from all taxation and customs duties. The Centre shall also be exempt from liability for the collection or payment of any taxes or customs duties.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Except in the case of local nationals, no tax shall be levied on or in respect of expense allowances paid by the Centre to the Chairman or members of the Administrative Council, or on or in respect of salaries, expense allowances or other emoluments paid by the Centre to officials or employees of the Secretariat.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>No tax shall be levied on or in respect of fees or expense allowances received by persons acting as conciliators, or arbitrators, or members of a Committee appointed pursuant to paragraph (3) of Article 52, in proceedings under this Convention, if the sole jurisdictional basis for such tax is the location of the Centre or the place where such proceedings are conducted or the place where such fees or allowances are paid.</div>\n<p class=\"lf-p\">ARBITRATION</p>\n<h3 class=\"lf-part\">CHAPTER II</h3>\n<p class=\"lf-p\">JURISDICTION OF THE CENTRE</p>\n<h4 class=\"lf-art\" id=\"a-25-59\"><span class=\"lf-art-num\">ARTICLE 25</span><span class=\"lf-art-t\">(1) The jurisdiction of the Centre shall extend to any legal dispute arising</span></h4>\n<p class=\"lf-p\">directly out of an investment, between a Contracting State (or any constituent subdivision or agency of a Contracting State designated to the Centre by that State) and a national of another Contracting State, which the parties to the dispute consent in writing to submit to the Centre. When the parties have given their consent, no party may withdraw its consent unilaterally.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>\"National of another Contracting State\" means: (a) any natural person who had the nationality of a Contracting State other than the State party to the dispute on the date on which the parties consented to submit such dispute to conciliation or arbitration as well as on the date on which the request was registered pursuant to paragraph</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>of Article 28 or paragraph (3) of Article 36, but does not include any person who on either date also had the nationality of the Contracting State party to the dispute; and (b) any juridical person which had the nationality of a Contracting State other than the State party to the dispute on the date on which the parties consented to submit such dispute to conciliation or arbitration and any juridical person which had the nationality of the Contracting State party to the dispute on that date and which, because of foreign control, the parties have agreed should be treated as a national of another Contracting State for the purposes of this Convention.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>Consent by a constituent subdivision or agency of a Contracting State shall require the approval of that State unless that State notifies the Centre that no such approval is required.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>Any Contracting State may, at the time of ratification, acceptance or approval of this Convention or at any time thereafter, notify the Centre of the class or classes of disputes which it would or would not consider submitting to the jurisdiction of the Centre. The Secretary-General shall forthwith transmit such notification to all Contracting States. Such notification shall not constitute the consent required by paragraph (1).</div>\n<h4 class=\"lf-art\" id=\"a-26-60\"><span class=\"lf-art-num\">ARTICLE 26</span><span class=\"lf-art-t\">Consent of the parties to arbitration under this Convention shall, unless otherwise</span></h4>\n<p class=\"lf-p\">stated, be deemed consent to such arbitration to the exclusion of any other remedy. A Contracting State may require the exhaustion of local administrative or judicial remedies as a condition of its consent to arbitration under this Convention.</p>\n<h4 class=\"lf-art\" id=\"a-27-61\"><span class=\"lf-art-num\">ARTICLE 27</span><span class=\"lf-art-t\">(1) No Contracting State shall give diplomatic protection, or bring an</span></h4>\n<p class=\"lf-p\">international claim, in respect of a dispute which one of its nationals and another Contracting State shall have consented to submit or shall have submitted to arbitration under this Convention, unless such other Contracting State shall have ARBITRATION failed to abide by and comply with the award rendered in such dispute.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Diplomatic protection, for the purposes of paragraph (1), shall not include informal diplomatic exchanges for the sole purpose of facilitating a settlement of the dispute.</div>\n<h3 class=\"lf-part\">CHAPTER III</h3>\n<p class=\"lf-p\">CONCILIATION</p>\n<h3 class=\"lf-part\">SECTION 1</h3>\n<p class=\"lf-p\">Request for Conciliation</p>\n<h4 class=\"lf-art\" id=\"a-28-62\"><span class=\"lf-art-num\">ARTICLE 28</span><span class=\"lf-art-t\">(1) Any Contracting State or any national of a Contracting State wishing to</span></h4>\n<p class=\"lf-p\">institute conciliation proceedings shall address a request to that effect in writing to the Secretary-General who shall send a copy of the request to the other party.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The request shall contain information concerning the issues in dispute, the identity of the parties and their consent to conciliation in accordance with the rules of procedure for the institution of conciliation and arbitration proceedings.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The Secretary-General shall register the request unless he finds, on the basis of the information contained in the request, that the dispute is manifestly outside the jurisdiction of the Centre. He shall forthwith notify the parties of registration or refusal to register.</div>\n<h3 class=\"lf-part\">SECTION 2</h3>\n<p class=\"lf-p\">Constitution of the Conciliation Commission</p>\n<h4 class=\"lf-art\" id=\"a-29-63\"><span class=\"lf-art-num\">ARTICLE 29</span><span class=\"lf-art-t\">(1) The Conciliation Commission (hereinafter called the Commission) shall be</span></h4>\n<p class=\"lf-p\">constituted as soon as possible after registration of a request pursuant to Article 28.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>(a) The Commission shall consist of a sole conciliator or any uneven number of conciliators appointed as the parties shall agree. (b) Where the parties do not agree upon the number of conciliators and the method of their appointment, the Commission shall consist of three conciliators, one conciliator appointed by each party and the third, who shall be the president of the Commission, appointed by agreement of the parties.</div>\n<h4 class=\"lf-art\" id=\"a-30-64\"><span class=\"lf-art-num\">ARTICLE 30</span><span class=\"lf-art-t\">If the Commission shall not have been constituted within 90 days after notice of</span></h4>\n<p class=\"lf-p\">registration of the request has been dispatched by the Secretary-General in accordance with paragraph (3) of Article 28, or such other period as the parties may agree, the Chairman shall, at the request of either party and after consulting both parties as far as possible, appoint the conciliator or conciliators not yet appointed.</p>\n<p class=\"lf-p\">ARBITRATION</p>\n<h4 class=\"lf-art\" id=\"a-31-65\"><span class=\"lf-art-num\">ARTICLE 31</span></h4>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(1)</span>Conciliators may be appointed from outside the Panel of Conciliators, except in the case of appointments by the Chairman pursuant to Article 30.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Conciliators appointed from outside the Panel of Conciliators shall possess the qualities stated in paragraph (1) of Article 14.</div>\n<h3 class=\"lf-part\">SECTION 3</h3>\n<p class=\"lf-p\">Conciliation Proceedings</p>\n<h4 class=\"lf-art\" id=\"a-32-66\"><span class=\"lf-art-num\">ARTICLE 32</span><span class=\"lf-art-t\">(1)</span></h4>\n<p class=\"lf-p\">The Commission shall be the judge of its own competence.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Any objection by a party to the dispute that a dispute is not within the jurisdiction of the Centre, or for other reasons is not within the competence of the Commission, shall be considered by the Commission which shall determine whether to deal with it as a preliminary question or to join it to the merits of the dispute.</div>\n<h4 class=\"lf-art\" id=\"a-33-67\"><span class=\"lf-art-num\">ARTICLE 33</span><span class=\"lf-art-t\">Any conciliation proceeding shall be conducted in accordance with the provisions</span></h4>\n<p class=\"lf-p\">of this Section and except as the parties otherwise agree, in accordance with the Conciliation Rules in effect on the date on which the parties consented to conciliation. If any question of procedure arises which is not covered by this Section or the Conciliation Rules or any rules agreed by the parties, the Commission shall decide the question.</p>\n<h4 class=\"lf-art\" id=\"a-34-68\"><span class=\"lf-art-num\">ARTICLE 34</span><span class=\"lf-art-t\">(1) It shall be the duty of the Commission to clarify the issues in dispute</span></h4>\n<p class=\"lf-p\">between the parties and to endeavour to bring about agreement between them upon mutually acceptable terms. To that end, the Commission may at any stage of the proceedings and from time to time recommend terms of settlement to the parties. The parties shall cooperate in good faith with the Commission in order to enable the Commission to carry out its functions, and shall give their most serious consideration to its recommendations.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>If the parties reach agreement, the Commission shall draw up a report noting the issues in dispute and recording that the parties have reached agreement. If, at any stage of the proceedings, it appears to the Commission that there is no likelihood of agreement between the parties, it shall close the proceedings and shall draw up a report noting the submission of the dispute and recording the failure of the parties to reach agreement. If one party fails to appear or participate in the proceedings the Commission shall close the proceedings and shall draw up a report noting that party’s failure to appear or participate.</div>\n<h4 class=\"lf-art\" id=\"a-35-69\"><span class=\"lf-art-num\">ARTICLE 35</span><span class=\"lf-art-t\">Except as the parties to the dispute shall otherwise agree, neither party to a</span></h4>\n<p class=\"lf-p\">conciliation proceedings shall be entitled in any other proceeding, whether before ARBITRATION arbitrators or in a court of law or otherwise, to invoke or rely on any views expressed or statements or admissions or offers of settlement made by the other party in the conciliation proceedings, or the report or any recommendations made by the Commission.</p>\n<h3 class=\"lf-part\">CHAPTER IV</h3>\n<p class=\"lf-p\">ARBITRATION</p>\n<h3 class=\"lf-part\">SECTION 1</h3>\n<p class=\"lf-p\">Request for Arbitration</p>\n<h4 class=\"lf-art\" id=\"a-36-70\"><span class=\"lf-art-num\">ARTICLE 36</span><span class=\"lf-art-t\">(1) Any Contracting State or any national of a Contracting State wishing to</span></h4>\n<p class=\"lf-p\">institute arbitration proceedings shall address a request to that effect in writing to the Secretary-General who shall send a copy of the request to the other party.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The request shall contain information concerning the issues in dispute, the identity of the parties and their consent to arbitration in accordance with the rules of procedure for the institution of conciliation and arbitration proceedings.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The Secretary-General shall register the request unless he finds, on the basis of the information contained in the request, that the dispute is manifestly outside the jurisdiction of the Centre. He shall forthwith notify the parties of registration or refusal to register.</div>\n<h3 class=\"lf-part\">SECTION 2</h3>\n<p class=\"lf-p\">Constitution of the Tribunal</p>\n<h4 class=\"lf-art\" id=\"a-37\"><span class=\"lf-art-num\">ARTICLE 37</span><span class=\"lf-art-t\">(1) The Arbitral Tribunal (hereinafter called the Tribunal) shall be constituted</span></h4>\n<p class=\"lf-p\">as soon as possible after registration of a request pursuant to Article 36.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>(a) The Tribunal shall consist of a sole arbitrator or any uneven number of arbitrators appointed as the parties shall agree. (b) Where the parties do not agree upon the number of arbitrators and the method of their appointment, the Tribunal shall consist of three arbitrators, one arbitrator appointed by each party and the third, who shall be the president of the Tribunal, appointed by agreement of the parties.</div>\n<h4 class=\"lf-art\" id=\"a-38\"><span class=\"lf-art-num\">ARTICLE 38</span><span class=\"lf-art-t\">If the Tribunal shall not have been constituted within 90 days after notice of</span></h4>\n<p class=\"lf-p\">registration of the request has been dispatched by the Secretary-General in accordance with paragraph (3) of Article 36, or such other period as the parties may agree, the Chairman shall, at the request of either party and after consulting both parties as far as possible, appoint the arbitrator or arbitrators not yet appointed.</p>\n<p class=\"lf-p\">ARBITRATION Arbitrators appointed by the Chairman pursuant to this Article shall not be nationals of the Contracting State party to the dispute or of the Contracting State whose national is a party to the dispute.</p>\n<h4 class=\"lf-art\" id=\"a-39\"><span class=\"lf-art-num\">ARTICLE 39</span><span class=\"lf-art-t\">The majority of the arbitrators shall be nationals of States other than the</span></h4>\n<p class=\"lf-p\">Contracting State party to the dispute and the Contracting State whose national is a party to the dispute; provided, however, that the foregoing provisions of this Article shall not apply if the sole arbitrator or each individual member of the Tribunal has been appointed by agreement of the parties.</p>\n<h4 class=\"lf-art\" id=\"a-40\"><span class=\"lf-art-num\">ARTICLE 40</span><span class=\"lf-art-t\">(1) Arbitrators may be appointed from outside the Panel of Arbitrators, except</span></h4>\n<p class=\"lf-p\">in the case of appointments by the Chairman pursuant to Article 38.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Arbitrators appointed from outside the Panel of Arbitrators shall possess the qualities stated in paragraph (1) of Article 14.</div>\n<h3 class=\"lf-part\">SECTION 3</h3>\n<p class=\"lf-p\">Powers and Functions of the Tribunal</p>\n<h4 class=\"lf-art\" id=\"a-41\"><span class=\"lf-art-num\">ARTICLE 41</span><span class=\"lf-art-t\">(1)</span></h4>\n<p class=\"lf-p\">The Tribunal shall be the judge of its own competence.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Any objection by a party to the dispute that is not within the jurisdiction of the Centre, or for other reasons is not within the competence of the Tribunal, shall be considered by the Tribunal which shall determine whether to deal with it as a preliminary question or to join it to the merits of the dispute.</div>\n<h4 class=\"lf-art\" id=\"a-42\"><span class=\"lf-art-num\">ARTICLE 42</span><span class=\"lf-art-t\">(1) The Tribunal shall decide a dispute in accordance with such rules of law as</span></h4>\n<p class=\"lf-p\">may be agreed by the parties. In the absence of such agreement, the Tribunal shall apply the law of the Contracting State party to the dispute (including its rules on the conflict of laws) and such rules of international law as may be applicable.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The Tribunal may not bring in a finding of non liquet on the ground of silence or obscurity of the law.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The provisions of paragraphs (1) and (2) shall not prejudice the power of the Tribunal to decide a dispute ex aequo et bono if the parties so agree.</div>\n<h4 class=\"lf-art\" id=\"a-43\"><span class=\"lf-art-num\">ARTICLE 43</span><span class=\"lf-art-t\">Except as the parties otherwise agree, the Tribunal may, if it deems it necessary at</span></h4>\n<p class=\"lf-p\">any state of the proceedings: (a) call upon the parties to produce documents or other evidence, and (b) visit the scene connected with the dispute, and conduct such enquiries ARBITRATION there as it may deem appropriate.</p>\n<h4 class=\"lf-art\" id=\"a-44\"><span class=\"lf-art-num\">ARTICLE 44</span><span class=\"lf-art-t\">Any arbitration proceeding shall be conducted in accordance with the provisions</span></h4>\n<p class=\"lf-p\">of this Section and, except as the parties otherwise agree, in accordance with the Arbitration Rules in effect on the date on which the parties consented to arbitration.</p>\n<p class=\"lf-p\">If any question of procedure arises which is not covered by this Section or the Arbitration Rules or any rules agreed by the parties, the Tribunal shall decide the question.</p>\n<h4 class=\"lf-art\" id=\"a-45\"><span class=\"lf-art-num\">ARTICLE 45</span><span class=\"lf-art-t\">(1) Failure of a party to appear or to present his case shall not be deemed an</span></h4>\n<p class=\"lf-p\">admission of the other party’s assertions.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>If a party fails to appear or to present his case at any stage of the proceedings the other party may request the Tribunal to deal with the questions submitted to it and to render an award. Before rendering an award, the Tribunal shall notify, and grant a period of grace to, the party failing to appear or to present its case, unless it is satisfied that party does not intend to do so.</div>\n<h4 class=\"lf-art\" id=\"a-46\"><span class=\"lf-art-num\">ARTICLE 46</span></h4>\n<p class=\"lf-p\">Except as the parties otherwise agree, the Tribunal shall, if requested by a party, determine any incidental or additional claims or counter-claims arising directly out of the subject-matter of the dispute provided that they are within the scope of the consent of the parties and are otherwise within the jurisdiction of the Centre.</p>\n<h4 class=\"lf-art\" id=\"a-47\"><span class=\"lf-art-num\">ARTICLE 47</span><span class=\"lf-art-t\">Except as the parties otherwise agree, the Tribunal may, if it considers that the</span></h4>\n<p class=\"lf-p\">circumstances so require, recommend any provisional measures which should be taken to preserve the respective rights of either party.</p>\n<h3 class=\"lf-part\">SECTION 4</h3>\n<p class=\"lf-p\">The Award</p>\n<h4 class=\"lf-art\" id=\"a-48\"><span class=\"lf-art-num\">ARTICLE 48</span><span class=\"lf-art-t\">(1) The Tribunal shall decide questions by a majority of the votes of all its</span></h4>\n<p class=\"lf-p\">members.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The award of the Tribunal shall be in writing and shall be signed by the members of the Tribunal who voted for it.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The award shall deal with every question submitted to the Tribunal, and shall state the reasons upon which it is based.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>Any member of the Tribunal may attach his individual opinion to the award, whether he dissents from the majority or not, or a statement of his dissent.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(5)</span>The Centre shall not publish the award without the consent of the parties.</div>\n<p class=\"lf-p\">ARBITRATION</p>\n<h4 class=\"lf-art\" id=\"a-49\"><span class=\"lf-art-num\">ARTICLE 49</span><span class=\"lf-art-t\">(1) The Secretary-General shall promptly dispatch certified copies of the award</span></h4>\n<p class=\"lf-p\">to the parties. The award shall be deemed to have been rendered on the date on which the certified copies were dispatched.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The Tribunal upon the request of a party made within 45 days after the date on which the award was rendered may after notice to the other party decide any question which it had omitted to decide in the award and shall rectify any clerical, arithmetical or similar error in the award. Its decision shall become part of the award and shall be notified to the parties in the same manner as the award. The periods of time provided for under paragraph (2) of Article 51 and paragraph (2) of Article 52 shall run from the date on which the decision was rendered.</div>\n<h3 class=\"lf-part\">SECTION 5</h3>\n<p class=\"lf-p\">Interpretation, Revision and Annulment of the Award</p>\n<h4 class=\"lf-art\" id=\"a-50\"><span class=\"lf-art-num\">ARTICLE 50</span><span class=\"lf-art-t\">(1) If any dispute shall arise between the parties as to the meaning or scope of</span></h4>\n<p class=\"lf-p\">an award, either party may request interpretation of the award by an application in writing addressed to the Secretary-General.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The request shall, if possible, be submitted to the Tribunal which rendered the award. If this shall not be possible, a new Tribunal shall be constituted in accordance with Section 2 of this Chapter. The Tribunal may, if it considers that the circumstances so require, stay enforcement of the award pending its decision.</div>\n<h4 class=\"lf-art\" id=\"a-51\"><span class=\"lf-art-num\">ARTICLE 51</span><span class=\"lf-art-t\">(1) Either party may request revision of the award by an application in writing</span></h4>\n<p class=\"lf-p\">addressed to the Secretary-General on the ground of discovery of some fact of such a nature as decisively to effect the award, provided that when the award was rendered that fact was unknown to the Tribunal and to the applicant and that the applicant’s ignorance of that fact was not due to negligence.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The application shall be made within 90 days after the discovery of such fact and in any event within three years after the date on which the award was rendered.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The request shall, if possible, be submitted to the Tribunal which rendered the award. If this shall not be possible, a new Tribunal shall be constituted in accordance with Section 2 of this Chapter.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>The Tribunal may, if it considers that the circumstances so require, stay enforcement of the award pending its decision. If the applicant requests stay of enforcement of the award in his application, enforcement shall be stayed provisionally until the Tribunal rules on such request.</div>\n<h4 class=\"lf-art\" id=\"a-52\"><span class=\"lf-art-num\">ARTICLE 52</span><span class=\"lf-art-t\">(1) Either party may request annulment of the award by an application in</span></h4>\n<p class=\"lf-p\">writing to the Secretary-General on one or more of the following grounds: (a) that the Tribunal was not properly constituted;</p>\n<p class=\"lf-p\">ARBITRATION (b) that the Tribunal had manifestly exceeded its powers; (c) that there was corruption on the part of a member of the Tribunal; (d) that there has been a serious departure from a fundamental rule of procedure; or (e) that the award has failed to state the reasons on which it is based.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The application shall be made within 120 days after the date on which the award was rendered except that when annulment is requested on the ground of corruption such application shall be made within 120 days after discovery of the corruption and in any event within three years after the date on which the award was rendered.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>On receipt of the request the Chairman shall forthwith appoint from the Panel of Arbitrators an ad hoc Committee of three persons. None of the members of the Committee shall have been a member of the Tribunal which rendered the award, shall be of the same nationality as any such member, shall be a national of the State party to the dispute or of the State whose national is a party to the dispute, shall have been designated to the Panel of Arbitrators by either of those States, or shall have acted as a conciliator in the same dispute. The Committee shall have the authority to annul the award or any part thereof on any of the grounds set forth in paragraph (1).</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>The provisions of Articles 41 - 45, 48, 49, 53 and 54, and of Chapters VI and VII shall apply mutatis mutandis to proceedings before the Committee.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(5)</span>The Committee may, if it considers that circumstances so require, stay enforcement of the award pending its decision. If the applicant requests a stay of enforcement of the award in his application, enforcement shall be stayed provisionally until the Committee rules on such request.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(6)</span>If the award is annulled the dispute shall, at the request of either party, be submitted to a new Tribunal constituted in accordance with Section 2 of this Chapter.</div>\n<h3 class=\"lf-part\">SECTION 6</h3>\n<p class=\"lf-p\">Recognition and Enforcement of the Award</p>\n<h4 class=\"lf-art\" id=\"a-53\"><span class=\"lf-art-num\">ARTICLE 53</span><span class=\"lf-art-t\">(1) The award shall be binding on the parties and shall not be subject to any</span></h4>\n<p class=\"lf-p\">appeal or to any other remedy except those provided for in this Convention. Each party shall abide by and comply with the terms of the award except to the extent that enforcement shall have been stayed pursuant to the relevant provisions of this Convention.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>For the purposes of this Section, \"award\" shall include any decision interpreting, revising or annulling such award pursuant to Articles 50, 51 or 52.</div>\n<h4 class=\"lf-art\" id=\"a-54\"><span class=\"lf-art-num\">ARTICLE 54</span><span class=\"lf-art-t\">(1) Each Contracting State shall recognise an award rendered pursuant to this</span></h4>\n<p class=\"lf-p\">Convention as binding and enforce the pecuniary obligations imposed by that award within its territories as if it were a final judgement of a court in that State. A Contracting State with a federal constitution may enforce such an award in or through its federal courts and may provide that such courts shall treat the award as if it were a final judgement of the courts of a constituent state.</p>\n<p class=\"lf-p\">ARBITRATION</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>A party seeking recognition or enforcement in the territories of a Contracting State shall furnish to a competent court or other authority which such State shall have designated for this purpose a copy of the award certified by the Secretary-General. Each Contracting State shall notify the Secretary-General of the designation of the competent court or other authority for this purpose and of any subsequent change in such designation.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>Execution of the award shall be governed by the laws concerning the execution of judgements in force in the State in whose territories such execution is sought.</div>\n<h4 class=\"lf-art\" id=\"a-55\"><span class=\"lf-art-num\">ARTICLE 55</span><span class=\"lf-art-t\">Nothing in Article 54 shall be construed as derogating from the law in force in</span></h4>\n<p class=\"lf-p\">any Contracting State relating to immunity of that State or of any foreign State from execution.</p>\n<h3 class=\"lf-part\">CHAPTER V</h3>\n<p class=\"lf-p\">REPLACEMENT AND DISQUALIFICATION OF CONCILIATORS AND ARBITRATORS</p>\n<h4 class=\"lf-art\" id=\"a-56\"><span class=\"lf-art-num\">ARTICLE 56</span><span class=\"lf-art-t\">(1) After a Commission or a Tribunal has been constituted and proceedings have</span></h4>\n<p class=\"lf-p\">begun, its composition shall remain unchanged; provided, however, that if a conciliator or an arbitrator should die, become incapacitated, or resign, the resulting vacancy shall be filled in accordance with the provisions of Section 2 of Chapter III or Section 2 of Chapter IV.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>A member of the Commission or Tribunal shall continue to serve in that capacity notwithstanding that he shall have ceased to be a member of the Panel.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>If a conciliator or an arbitrator appointed by a party shall have resigned without the consent of the Commission or Tribunal of which he was a member, the Chairman shall appoint a person from the appropriate Panel to fill the resulting vacancy.</div>\n<h4 class=\"lf-art\" id=\"a-57\"><span class=\"lf-art-num\">ARTICLE 57</span><span class=\"lf-art-t\">A party may propose to a Commission or Tribunal the disqualification of any of</span></h4>\n<p class=\"lf-p\">its members on account of any fact indicating a manifest lack of the qualities required by paragraph (1) of Article 14. A party to arbitration proceedings may, in addition, propose the disqualification of an arbitrator on the ground that he was ineligible for appointment to the Tribunal under Section 2 of Chapter IV.</p>\n<h4 class=\"lf-art\" id=\"a-58\"><span class=\"lf-art-num\">ARTICLE 58</span><span class=\"lf-art-t\">The decision on any proposal to disqualify a conciliator or arbitrator shall be</span></h4>\n<p class=\"lf-p\">taken by the other members of the Commission or Tribunal as the case may be, provided that where those members are equally divided, or in the case of a proposal to disqualify a sole conciliator or arbitrator, or a majority of the conciliators or ARBITRATION arbitrators, the Chairman shall take that decision. If it is decided that the proposal is well-founded the conciliator or arbitrator to whom the decision relates shall be replaced in accordance with the provisions of Section 2 of Chapter III or Section 2 of</p>\n<h3 class=\"lf-part\">Chapter IV.</h3>\n<h3 class=\"lf-part\">CHAPTER VI</h3>\n<p class=\"lf-p\">COST OF PROCEEDINGS</p>\n<h4 class=\"lf-art\" id=\"a-59\"><span class=\"lf-art-num\">ARTICLE 59</span><span class=\"lf-art-t\">The charges payable by the parties for the use of the facilities of the Centre shall</span></h4>\n<p class=\"lf-p\">be determined by the Secretary-General in accordance with the regulations adopted by the Administrative Council.</p>\n<h4 class=\"lf-art\" id=\"a-60\"><span class=\"lf-art-num\">ARTICLE 60</span><span class=\"lf-art-t\">(1) Each Commission and each Tribunal shall determine the fees and expenses</span></h4>\n<p class=\"lf-p\">of its members within limits established from time to time by the Administrative Council and after consultation with the Secretary-General.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>Nothing in paragraph (1) shall preclude the parties from agreeing in advance with the Commission or Tribunal concerned upon the fees and expenses of its members.</div>\n<h4 class=\"lf-art\" id=\"a-61\"><span class=\"lf-art-num\">ARTICLE 61</span><span class=\"lf-art-t\">(1) In the case of conciliation proceedings the fees and expenses of members of</span></h4>\n<p class=\"lf-p\">the Commission as well as the charges for the use of the facilities of the Centre, shall be borne equally by the parties. Each party shall bear any other expenses it incurs in connection with the proceedings.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>In the case of arbitration proceedings the Tribunal shall, except as the parties otherwise agree, assess the expenses incurred by the parties in connection with the proceedings, and shall decide how and by whom those expenses, the fees and expenses of the members of the Tribunal and the charges for the use of the facilities of the Centre shall be paid. Such decision shall form part of the award.</div>\n<h3 class=\"lf-part\">CHAPTER VII</h3>\n<p class=\"lf-p\">PLACE OF PROCEEDINGS</p>\n<h4 class=\"lf-art\" id=\"a-62\"><span class=\"lf-art-num\">ARTICLE 62</span><span class=\"lf-art-t\">Conciliation and arbitration proceedings shall be held at the seat of the Centre</span></h4>\n<p class=\"lf-p\">except as hereinafter provided.</p>\n<h4 class=\"lf-art\" id=\"a-63\"><span class=\"lf-art-num\">ARTICLE 63</span></h4>\n<p class=\"lf-p\">Conciliation and arbitration proceedings may be held, if the parties so agree, ARBITRATION (a) at the seat of the Permanent Court of Arbitration or of any other appropriate institution, whether private or public, with which the Centre may make arrangements for that purpose; or (b) at any other place approved by the Commission or Tribunal after consultation with the Secretary-General.</p>\n<h3 class=\"lf-part\">CHAPTER VIII</h3>\n<p class=\"lf-p\">DISPUTES BETWEEN CONTRACTING STATES</p>\n<h4 class=\"lf-art\" id=\"a-64\"><span class=\"lf-art-num\">ARTICLE 64</span><span class=\"lf-art-t\">Any dispute arising between Contracting States concerning the interpretation or</span></h4>\n<p class=\"lf-p\">application of this Convention which is not settled by negotiation shall be referred to the International Court of Justice by the application of any party to such dispute, unless the States concerned agree to another method of settlement.</p>\n<h3 class=\"lf-part\">CHAPTER IX</h3>\n<p class=\"lf-p\">AMENDMENT</p>\n<h4 class=\"lf-art\" id=\"a-65\"><span class=\"lf-art-num\">ARTICLE 65</span><span class=\"lf-art-t\">Any Contracting State may propose amendment of this Convention. The text of a</span></h4>\n<p class=\"lf-p\">proposed amendment shall be communicated to the Secretary-General not less than 90 days prior to the meeting of the Administrative Council at which such amendment is to be considered and shall forthwith be transmitted by him to all the members of the Administrative Council.</p>\n<h4 class=\"lf-art\" id=\"a-66\"><span class=\"lf-art-num\">ARTICLE 66</span><span class=\"lf-art-t\">(1) If the Administrative Council shall so decide by a majority of two-thirds of</span></h4>\n<p class=\"lf-p\">its members, the proposed amendment shall be circulated to all Contracting States for ratification, acceptance or approval. Each amendment shall enter into force 30 days after dispatch by the depository of this Convention of a notification to Contracting States that all Contracting States have ratified, accepted or approved the amendment.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>No amendment shall affect the rights and obligations under this Convention of any Contracting State or of any of its constituent subdivisions or agencies, or of any national of such State arising out of consent to the jurisdiction of the Centre given before the date of entry into force of the amendment.</div>\n<p class=\"lf-p\">ARBITRATION</p>\n<h3 class=\"lf-part\">CHAPTER X</h3>\n<p class=\"lf-p\">FINAL PROVISIONS</p>\n<h4 class=\"lf-art\" id=\"a-67\"><span class=\"lf-art-num\">ARTICLE 67</span><span class=\"lf-art-t\">This Convention shall be open for signature on behalf of States members of the</span></h4>\n<p class=\"lf-p\">Bank. It shall also be open for signature on behalf of any other State which is a party to the Statute of the International Court of Justice and which the Administrative Council, by a vote of two-thirds of its members, shall have invited to sign the Convention.</p>\n<h4 class=\"lf-art\" id=\"a-68\"><span class=\"lf-art-num\">ARTICLE 68</span><span class=\"lf-art-t\">(1) This Convention shall be subject to ratification, acceptance or approval by</span></h4>\n<p class=\"lf-p\">the signatory States in accordance with their respective constitutional procedures.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>This Convention shall enter into force 30 days after the date of deposit of the twentieth instrument of ratification, acceptance or approval. It shall enter into force for each State which subsequently deposits its instrument of ratification, acceptance or approval 30 days after the date of such deposit.</div>\n<h4 class=\"lf-art\" id=\"a-69\"><span class=\"lf-art-num\">ARTICLE 69</span><span class=\"lf-art-t\">Each Contracting State shall take legislative or other measures as may be</span></h4>\n<p class=\"lf-p\">necessary for making the provisions of this Convention effective in its territories.</p>\n<h4 class=\"lf-art\" id=\"a-70\"><span class=\"lf-art-num\">ARTICLE 70</span><span class=\"lf-art-t\">This Convention shall apply to all territories for whose international relations a</span></h4>\n<p class=\"lf-p\">Contracting State is responsible, except those which are excluded by such State by written notice to the depository of this Convention either at the time of ratification, acceptance or approval or subsequently.</p>\n<h4 class=\"lf-art\" id=\"a-71\"><span class=\"lf-art-num\">ARTICLE 71</span><span class=\"lf-art-t\">Any Contracting State may denounce this Convention by written notice to the</span></h4>\n<p class=\"lf-p\">depository of this Convention. The denunciation shall take effect six months after receipt of such notice.</p>\n<h4 class=\"lf-art\" id=\"a-72\"><span class=\"lf-art-num\">ARTICLE 72</span><span class=\"lf-art-t\">Notice by a Contracting State pursuant to Article 70 or 71 shall not affect the</span></h4>\n<p class=\"lf-p\">rights or obligations under this Convention of that State or of any of its constituent subdivisions or agencies or of any national of that State arising out of consent to the jurisdiction of the Centre given by one of them before such notice was received by the depository.</p>\n<h4 class=\"lf-art\" id=\"a-73\"><span class=\"lf-art-num\">ARTICLE 73</span><span class=\"lf-art-t\">Instruments of ratification, acceptance or approval of this Convention and of</span></h4>\n<p class=\"lf-p\">ARBITRATION amendments thereto shall be deposited with the Bank which shall act as the depository of this Convention. The depository shall transmit certified copies of this Convention to States members of the Bank and to any other State invited to sign the Convention.</p>\n<h4 class=\"lf-art\" id=\"a-74\"><span class=\"lf-art-num\">ARTICLE 74</span><span class=\"lf-art-t\">The depository shall register this Convention with the Secretariat of the United</span></h4>\n<p class=\"lf-p\">Nations in accordance with Article 102 of the Charter of the United Nations and the Regulations thereunder adopted by the General Assembly.</p>\n<h4 class=\"lf-art\" id=\"a-75\"><span class=\"lf-art-num\">ARTICLE 75</span><span class=\"lf-art-t\">The depository shall notify all signatory States of the following:</span></h4>\n<p class=\"lf-p\">(a) signatures in accordance with Article 67; (b) deposits of instruments of ratification, acceptance and approval in accordance with Article 73; (c) the date on which this Convention enters into force in accordance with Article 68; (d) exclusions from territorial application pursuant to Article 70; (e) the date on which any amendment of this Convention enters into force in accordance with Article 66; and (f) denunciation in accordance with Article 71.</p>\n<p class=\"lf-p\">DONE at Washington in the English, French and Spanish languages, all three texts being equally authentic, in a single copy which shall remain deposited in the archives of the International Bank for Reconstruction and Development, which has indicated by its signature below its agreement to fulfil the functions with which it is charged under this Convention.</p>\n<p class=\"lf-p\">ARBITRATION FOURTH SCHEDULE (Article 15) Added by:</p>\n<p class=\"lf-p\">IX. 2004.26.</p>\n<p class=\"lf-p\">Amended by:</p>\n<p class=\"lf-p\">L.N. 420 of 2004;</p>\n<p class=\"lf-p\">L.N. 7 of 2005;</p>\n<p class=\"lf-p\">L.N. 279 of 2005;</p>\n<p class=\"lf-p\">XXII. 2005.94;</p>\n<p class=\"lf-p\">L.N. 165 of 2006;</p>\n<p class=\"lf-p\">L.N. 166 of 2006;</p>\n<p class=\"lf-p\">L.N. 425 of 2007;</p>\n<p class=\"lf-p\">IX. 2010.15;</p>\n<p class=\"lf-p\">L.N. 244 of 2012;</p>\n<p class=\"lf-p\">L.N. 149 of 2015;</p>\n<p class=\"lf-p\">XXX. 2015.7.</p>\n<p class=\"lf-p\">Mandatory Arbitration The disputes hereunder stated in Part A shall be settled by arbitration and shall be referred to arbitration under the rules stated in Part B in addition to such rules as may be issued by the Centre from time to time.</p>\n<h3 class=\"lf-part\">Part A</h3>\n<p class=\"lf-p\">1.1 Condominium Disputes.</p>\n<p class=\"lf-p\">All disputes regarding a condominium which according to the Condominium Act (Cap. 398) are to be submitted to for arbitration.</p>\n<p class=\"lf-p\">1.2 Motor Traffic Disputes Any civil or commercial disputes, not being one in connection with a claim for damages for personal injuries, being a dispute arising from: (a) any collision between vehicles, or (b) any involuntary damage to property involving vehicles, or (c) any such claim against an authorized insurer, an assurance company, an underwriter approved by the Minister responsible for transport or other person who in accordance with the Motor Vehicles Insurance (ThirdParty Risks) Ordinance (Cap. 104) or any policy of insurance may be liable therefor, and (d) the value whereof does not exceed eleven thousand and six hundred and forty-six euro and eighty-seven cents (11,646.87).</p>\n<p class=\"lf-p\">1.3 Disputes connected with electricity and water services All disputes arising from the supply of electricity, electrical meter rent or any other service provided by the distribution system operator, and any dispute related to water services, without prejudice, where applicable, to the provisions of article 466 of the Code of Organization and Civil Procedure, to the provisions of to the provisions of the Enemalta (Transfer of Assets, Rights, Liabilities and Obligations) Act and the Water Services Corporation Act, and to the provisions of the Electricity Supply Regulations and the Water Supply Regulations:</p>\n<p class=\"lf-p\">Provided that consumers will be entitled to file their claims against the distribution system operator or the Water Services Corporation, as the case may be, in terms of the procedure established by this Act:</p>\n<p class=\"lf-p\">Provided further that notwithstanding the provisions of any other law other than the Consumer Affairs Act or any regulations made thereunder in so far as such laws deal with the resolution, however so described, of any consumer disputes, and without prejudice to pending cases, the Arbitration Tribunal shall have exclusive jurisdiction ARBITRATION over these cases.</p>\n<p class=\"lf-p\">1.4 Paying Agency Disputes All disputes arising from claims made to the Paying Agency which, according to regulation 13 of the Paying Agency Regulations, are to be submitted to arbitration.</p>\n<h3 class=\"lf-part\">Part B</h3>\n<p class=\"lf-p\">1.</p>\n<p class=\"lf-p\">The arbitration, being domestic arbitration, shall be governed by Part IV of the Act.</p>\n<p class=\"lf-p\">2.</p>\n<p class=\"lf-p\">The arbitral tribunal shall be composed of one arbitrator unless the parties agree that it shall be composed of three arbitrators and notify the Centre within thirty days of the receipt by the respondent of the notice of arbitration;</p>\n<p class=\"lf-p\">3.</p>\n<p class=\"lf-p\">The sole arbitrator, or any of the members of the arbitral tribunal when it is composed of three arbitrators, shall be appointed by the Chairman of the Centre in accordance with the provisions of the Act unless the Centre is notified of the appointment of an arbitral tribunal within thirty days of the receipt by the respondent of the notice of arbitration:</p>\n<p class=\"lf-p\">Provided that the Chairman of the Centre shall not appoint as sole arbitrator or as a member of the arbitral tribunal, when it is composed of three arbitrators, any person who is appointed as an arbitrator in ten or more pending arbitrations.</p>\n<p class=\"lf-p\">4.</p>\n<p class=\"lf-p\">Unless the parties expressly agree otherwise, there shall be a right of appeal from a final award as provided in article 15(11A);</p>\n<p class=\"lf-p\">5.</p>\n<p class=\"lf-p\">The rules on confidentiality, including those stated in articles 37 and 70 of the Act shall not apply to mandatory arbitrations unless the parties expressly agree to such rules and notify the arbitrator and the Centre accordingly;</p>\n<p class=\"lf-p\">6.</p>\n<p class=\"lf-p\">The award shall be deemed to have been received by the parties on the date when it is delivered in open tribunal;</p>\n<p class=\"lf-p\">7.</p>\n<p class=\"lf-p\">The provisions of Title IX of Book First and of Title XI of Book Third of the Code of Organization and Civil Procedure and any other provision of that Code relating to curators, shall mutatis mutandis apply to the disputes referred to in this Schedule;</p>\n<p class=\"lf-p\">8.</p>\n<p class=\"lf-p\">The provisions of Title XIV of Book Third of the Code of Organization and Civil Procedure and any other provision of that Code relating to the intervention and joinder of parties to a suit, shall apply mutatis mutandis to the disputes referred to in this Schedule.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">9.</span>held:</div>\n<p class=\"lf-p\">The arbitral tribunal shall establish the days and times when sittings shall be Provided that the arbitral tribunal shall appoint the first sitting for hearing within one month from receipt by the arbitral tribunal of the documentation relating to the dispute.</p>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">10.</span>(1) The arbitral tribunal shall deliver the award within two months from the date that proceedings are declared closed.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>In the event that the arbitral tribunal fails to deliver its award as aforesaid, any party to the proceedings may request the Chairman of the Centre to withdraw the appointment of the arbitral tribunal by means of an application in writing.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(3)</span>The decision on the withdrawal will be made by the Chairman of the Centre, ARBITRATION and his decision shall be final and binding.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(4)</span>The decision of the Chairman to withdraw the appointment of the arbitral tribunal shall be served on the arbitral tribunal, on the parties and on the Registrar.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(5)</span>Where the Chairman upholds a request for the withdrawal of the appointment of the arbitral tribunal as aforesaid, the Chairman shall appoint another arbitral tribunal in its stead without delay.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(6)</span>Upon notification of such withdrawal, the arbitral tribunal shall immediately, and in any case not later than ten days from the date of notification, deliver to the Registrar all documentation and all evidence relative to the dispute, failing which disciplinary action shall be taken in accordance with rule 72(6) of the Arbitration Rules.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">11.</span>(1) Where either party informs the arbitral tribunal that an action in respect of the same subject-matter and between the same parties has been brought before the court, the arbitral tribunal shall suspend the arbitration proceedings until such time as a judgment is given by the court in the said action.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">(2)</span>The arbitral tribunal shall be bound by, and act according to, the judgment delivered by the court on the same subject-matter and between the same parties, that may be notified to it by either party.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">12.</span>If two or more disputes on the same subject-matter are referred to arbitration, the Chairman may, upon the application of either party, order that the disputes are heard by the same arbitral tribunal.</div>\n<div class=\"lf-abs\"><span class=\"lf-abs-num\">13.</span>The Arbitration Rules shall apply to disputes under this Schedule except to the extent modified by the rules contained in this Part.</div></div>", "next": 0}