a) Any existing or future customs union or similar international agreement to which either of the contracting parties is or may become a party, or any b) Any international agreement or arrangement relating wholly or mainly to taxation or any domestic legislation relating wholly or mainly to taxation. Article VI. Specific Risks Compensation In the case the specific risks identified in this Agreement occur, the compensation, the Government of any of the Contracting Parties could claim to the Government o f the other Contracting Party, will be within the following framework: a) No convertibility: In the event of the situation referred to in Article I, subparagraph 4 (a), investors of either contracting party, invoking the convertibility guaranty, may apply in writing to their respective Government to make a claim to the host Government, in which case such investors transferred amounts in local currency convertibility, subject to no account maintained by its Government in the other contracting party. In such a case, the Government of the investor shall arrange in front of the recipient government of the investment, the foreign currency conversion of these sums of money, committing itself to perform the conversion. Transfers of sums of money mentioned above shall be made in the convertible currency or in any other convertible currency agreed to by the investor and the Contracting Party concerned and shall be made at the rate of exchange prevailing in the banking market on the date of transfer. b) Expropriation: Capital investments of nationals or companies of one Contracting Party may in the territory of the other Contracting Party, be expropriated according to the definition in article I, subparagraph 4 (b) of this Convention, except for reasons of public interest, or against a non-discriminatory basis and prompt, effective and adequate compensation. In case occurs the mentioned in the last part of the preceding paragraph, the compensation shall be equivalent to the real value of the expropriated investment immediately made public before the date of expropriation or effective, whichever is earlier; include interest under normal commercial rate until the date on which payment is made; payment shall be made without delay, be effectively realizable and freely transferable. The national or company affected shall have a right under the law of the contracting party making the expropriation, to prompt review by a judicial authority or another Independent authority of that Contracting Party of its case and of valuation of its investments in accordance with the principles set out in this paragraph. c) War, insurrection or revolution: If investors of either Contracting Party suffer losses owing to war, insurrection or revolution in the other Contracting Party, investors shall be accorded such treatment, with respect to restitution, indemnification, compensation or other settlement, not less favourable than the treatment granted under the present or future by the Government of the other contracting party to its own nationals or companies or to nationals or companies of any third country. In such cases, shall be accorded adequate restitution or compensation payments and shall be freely transferables. Article VII. Subrogation If a Contracting Party or its designated agency is effected a payment to any of its investors under a guarantee it has accorded in respect of an investment in the territory of the other contracting party, the latter Contracting Party shall be without prejudice to the rights of the first contracting party under article IX, recognize the transfer of any such right or title of the investor to former Contracting Party or its designated agency and the first subrogation of the Contracting Party or its designated agency of any right or title. Article VIII. Settlement of Disputes between an Investor and the Host State 1. Any dispute concerning the investments made pursuant to this agreement between one Contracting Party and an investor of the other Contracting Party shall as far as possible, be settled by amicable consultations. 2. If the dispute has not been settled within six months from the date on which it was raised by one or the other Contracting Party shall be submitted at the request of the investor:
a) The national courts of the Contracting Party involved in the dispute; or
b) To international arbitration.
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