Honduras - United Kingdom BIT (EN-ES) (1993)

ARTICLE 10 Subrogation

(I) If one Contracting Party or its designated Agency ("the first Contracting party") makes a payment under an indemnity given in respect of an investment in the territory of the other Contracting Party ("the second Contracting Party"), the second Contracting party shall recognise: (a) the assignment to the fust Contracting Party ·.W law or by legal transaction of all the rights and claims of the party indemnified, and (1)) that the first Contracting Party is entitled to exercise such rights and enforce such claims by virtue. of subrogation, to the same extent as the party indenmifled. (2) The first Contracting Party shall be entitled in all circumstances to the same treatment in respect of: (a) the rights and claims acquired by it by virtue of the assignment, and (b) any payments received in pursuance of those rights and claims, as the party indemnified was entitled to receive by virtue of this Agreement in respect of the investment concerned and its related returns. (3) Any payments received in non-convertible currency by the first Contracting Party in pursuance of the rights and claims acquired shall be freely available to the fust Contracting Party for the purpose of meeting any expenditure incurred in the territory of the second Contracting Party.

ARTICLE II Application of other Rules

If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to the present agreement contain rules, whether general or specific, entitling investments by nationals or companies of the other contracting Party to a treatment more favourable than is provided for by the present Agreement, such rules shall to the extent that they are more favourable prevail over the present Agreement.

ARTICLE 12 Territorial Extension

At the time of entry into force of this Agreement, or at any time thereafter, the provisions of this Agreement·may be extended to such territories for whose international relations the Government of the United Kingdom are responsible as may be agreed between the Contracting Parties in an Exchange of Notes.

ARTICLE 13 Entry into Force

Each Contracting Party shall notify the other in writing of the completion of the constitutional formalities required in its territory for the entry into force of this Agreement. This Agreement shall enter into force on the date of the latter of the twollotiflcations. 1

ARTICLE 14 Duration and Termination

This Agreement shall remain in force for a period of ten years. Thereafter it shall continue in force until the expiration of twelve months from the date on which either Contracting Party shall have given written notice of termination to the other. Provided that in respect of investments made whilst the Agreement is in force, its provisions shall I The A&J:eemententered into force on 8 March 1995.


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