Verdrag inzake de beslechting van geschillen met betrekking tot investeringen tussen Staten en onderdanen van andere Staten

Convention on the settlement of investment disputes between States and nationals of other States

Preamble

The Contracting States

Considering the need for international cooperation for economic development, and the role of private international investment therein;

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;

Recognizing that while such disputes would usually be subject to national legal processes, international methods of settlement may be appropriate in certain cases;

Attaching particular importance to the availability of facilities for international conciliation or arbitration to which Contracting States and nationals of other Contracting States may submit such disputes if they so desire;

Desiring to establish such facilities under the auspices of the International Bank for Reconstruction and Development;

Recognizing 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,

Have agreed as follows:

CHAPTER

I

International Centre for Settlement of Investment Disputes

Section

1

Establishment and Organization

Article

1

Article

2

The seat of the Centre shall be at the principal office of the International Bank for 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.

Article

3

The Centre shall have an Administrative Council and a Secretariat and shall maintain a Panel of Conciliators and a Panel of Arbitrators.

Section

2

The Administrative Council

Article

4

Article

5

The President of the Bank shall be ex officio Chairman of the Administrative 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.

Article

6

Article

7

Article

8

Members of the Administrative Council and the Chairman shall serve without remuneration from the Centre.

Section

3

The Secretariat

Article

9

The Secretariat shall consist of a Secretary-General, one or more Deputy Secretaries-General and staff.

Article

10

Article

11

The Secretary-General shall be the legal representative and the principal officer 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.

Section

4

The Panels

Article

12

The Panel of Conciliators and the Panel of Arbitrators shall each consist of qualified persons, designated as hereinafter provided, who are willing to serve thereon.

Article

13

Article

14

Article

15

Article

16

Section

5

Financing the Centre

Article

17

If the expenditure of the Centre cannot be met out of charges for the use of its 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.

Section

6

Status, Immunities and Privileges

Article

18

The Centre shall have full international legal personality. The legal capacity of the Centre shall include the capacity;

  • (a)

    to contract;

  • (b)

    to acquire and dispose of movable and immovable property;

  • (c)

    to institute legal proceedings.

Article

19

To enable the Centre to fulfil its functions, it shall enjoy in the territories of each Contracting State the immunities and privileges set forth in this Section.

Article

20

The Centre, its property and assets shall enjoy immunity from all legal process, except when the Centre waives this immunity.

Article

21

The Chairman, the members of the Administrative Council, persons acting as 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.

Article

22

The provisions of article 21 shall apply to persons appearing in proceedings under this Convention as parties, agents, counsel, advocates, witnesses or experts; provided, however, that sub-paragraph (b) thereof shall apply only in connection with their travel to and from, and their stay at, the place where the proceedings are held.

Article

23

Article

24

CHAPTER

II

Jurisdiction of the Centre

Article

25

Article

26

Consent of the parties to arbitration under this Convention shall, unless otherwise 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.

Article

27

CHAPTER

III

Conciliation

Section

1

Request for Conciliation

Article

28

Section

2

Constitution of the Conciliation Commission

Article

29

Article

30

If the Commission shall not have been constituted within 90 days after notice of 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.

Article

31

Section

3

Conciliation Proceedings

Article

32

Article

33

Any conciliation proceeding shall be conducted in accordance with the provisions 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.

Article

34

Article

35

Except as the parties to the dispute shall otherwise agree, neither party to a conciliation proceeding shall be entitled in any other proceeding, whether before 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.

CHAPTER

IV

Arbitration

Section

1

Request for Arbitration

Article

36

Section

2

Constitution of the Tribunal

Article

37

Article

38

If the Tribunal shall not have been constituted within 90 days after notice of 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. 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.

Article

39

The majority of the arbitrators shall be nationals of States other than the 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.

Article

40

Section

3

Powers and Functions of the Tribunal

Article

41

Article

42

Article

43

Except as the parties otherwise agree, the Tribunal may, if it deems it necessary at any stage 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 inquiries there as it may deem appropriate.

Article

44

Any arbitration proceeding shall be conducted in accordance with the provisions 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. 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.

Article

45

Article

46

Except as the parties otherwise agree, the Tribunal shall, if requested by a party, determine any incidental or additional claims or counterclaims 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.

Article

47

Except as the parties otherwise agree, the Tribunal may, if it considers that the circumstances so require, recommend any provisional measures which should be taken to preserve the respective rights of either party.

Section

4

The Award

Article

48

Article

49

Section

5

Interpretation, Revision and Annulment of the Award

Article

50

Article

51

Article

52

Section

6

Recognition and Enforcement of the Award

Article

53

Article

54

Article

55

Nothing in article 54 shall be construed as derogating from the law in force in any Contracting State relating to immunity of that State or of any foreign State from excution.

CHAPTER

V

Replacement and Disqualification of Conciliators and Arbitrators

Article

56

Article

57

A party may propose to a Commission or Tribunal the disqualification of any of 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.

Article

58

The decision on any proposal to disqualify a conciliator or arbitrator shall be 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 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 Chapter IV.

CHAPTER

VI

Cost of Proceedings

Article

59

The charges payable by the parties for the use of the facilities of the Centre shall be determined by the Secretary-General in accordance with the regulations adopted by the Administrative Council.

Article

60

Article

61

CHAPTER

VII

Place of Proceedings

Article

62

Conciliation and arbitration proceedings shall be held at the seat of the Centre except as hereinafter provided.

Article

63

Conciliation and arbitration proceedings may be held, if the parties so agree:

  • (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.

CHAPTER

VIII

Disputes between Contracting States

Article

64

Any dispute arising between Contracting States concerning the interpretation or 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.

CHAPTER

IX

Amendment

Article

65

Any Contracting State may propose amendment of this Convention. The text of a 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.

Article

66

CHAPTER

X

Final Provisions

Article

67

This Convention shall be open for signature on behalf of States members of the 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.

Article

68

Article

69

Each Contracting State shall take such legislative or other measures as may be necessary for making the provisions of this Convention effective in its territories.

Article

70

This Convention shall apply to all territories for whose international relations a Contracting State is responsible, except those which are excluded by such State by written notice to the depositary of this Convention either at the time of ratification, acceptance or approval or subsequently.

Article

71

Any Contracting State may denounce this Convention by written notice to the depositary of this Convention. The denunciation shall take effect six months after receipt of such notice.

Article

72

Notice by a Contracting State pursuant to articles 70 or 71 shall not affect the 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 depositary.

Article

73

Instruments of ratification, acceptance or approval of this Convention and of amendments thereto shall be deposited with the Bank which shall act as the depositary of this Convention. The depositary shall transmit certified copies of this Convention to States members of the Bank and to any other State invited to sign the Convention.

Article

75

The depositary shall notify all signatory States of the following:

  • (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)

    denunciations in accordance with article 71.

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.

For the International Bank for Reconstruction and Development:

(sd.) GEORGE D. WOODS

President

(sd.) H. BROCHES

General Counsel

18 March 1965

Report of the Executive Directors on the Convention on the Settlement of Investment Disputes between States and Nationals of other States

I

1

Resolution No. 214, adopted by the Board of Governors of the International Bank for Reconstruction and Development on September 10, 1964, provides as follows:

“Resolved:

  • (a)

    The report of the Executive Directors on 'Settlement of Investment Disputes', dated August 6, 1964, is hereby approved.

  • (b)

    The Executive Directors are requested to formulate a convention establishing facilities and procedures which would be available on a voluntary basis for the settlement of investment disputes between contracting States and Nationals of other contracting States through conciliation and arbitration.

  • (c)

    In formulating such a convention, the Executive Directors shall take into account the views of member governments and shall keep in mind the desirability of arriving at a text which could be accepted by the largest possible number of governments.

  • (d)

    The Executive Directors shall submit the text of such a convention to member governments with such recommendations as they shall deem appropriate.”

2

The Executive Directors of the Bank, acting pursuant to the foregoing Resolution, have formulated a Convention on the Settlement of Investment Disputes between States and Nationals of Other States and, on March 18, 1965, approved the submission of the text of the Convention, as attached hereto, to member governments of the Bank. This action by the Executive Directors does not, of course, imply that the governments represented by the individual Executive Directors are committed to take action on the Convention.

3

The action by the Executive Directors was preceded by extensive preparatory work, details of which are given in paragraphs 6-8 below. The Executive Directors are satisfied that the Convention in the form attached hereto represents a broad consensus of the views of those governments which accept the principle of establishing by inter-governmental agreement facilities and procedures for the settlement of investment disputes which States and foreign investors wish to submit to conciliation or arbitration. They are also satisfied that the Convention constitutes a suitable framework for such facilities and procedures. Accordingly, the text of the Convention is submitted to member governments for consideration with a view to signature and ratification, acceptance or approval.

4

The Executive Directors invite attention to the provisions of Article 68 (2) pursuant to which the Convention will enter into force as between the Contracting States 30 days after deposit with the Bank, the depositary of the Convention, of the twentieth instrument of ratification, acceptance or approval.

5

The attached text of the Convention in the English, French and Spanish languages has been deposited in the archives of the Bank, as depositary, and is open for signature.

II

6

The question of the desirability and practicability of establishing institutional facilities, sponsored by the Bank, for the settlement through conciliation and arbitration of investment disputes between States and foreign investors was first placed before the Board of Governors of the Bank at its Seventeenth Annual Meeting, held in Washington, D.C. in September 1962. At that Meeting the Board of Governors, by Resolution No. 174, adopted on September 18, 1962, requested the Executive Directors to study the question.

7

After a series of informal discussions on the basis of working papers prepared by the staff of the Bank, the Executive Directors decided that the Bank should convene consultative meetings of legal experts designated by member governments to consider the subject in greater detail. The consultative meetings were held on a regional basis in Addis Ababa (December 16-20,1963), Santiago de Chile (February 3-7, 1964), Geneva (February 17-21, 1964) and Bangkok (April 27-May 1, 1964), with the administrative assistance of the United Nations Economic Commissions and the European Office of the United Nations, and took as the basis for discussion a Preliminary Draft of a Convention on Settlement of Investment Disputes between States and Nationals of Other States prepared by the staff of the Bank in the light of the discussions of the Executive Directors and the views of governments. The meetings were attended by legal experts from 86 countries.

8

In the light of the preparatory work and of the views expressed at the consultative meetings, the Executive Directors reported to the Board of Governors at its Nineteenth Annual Meeting in Tokyo, in September 1964, that it would be desirable to establish the institutional facilities envisaged, and to do so within the framework of an inter-governmental agreement. The Board of Governors adopted the Resolution set forth in paragraph 1 of this Report, whereupon the Executive Directors undertook the formulation of the present Convention. With a view to arriving at a text which could be accepted by the largest possible number of governments, the Bank invited its members to designate representatives to a Legal Committee which would assist the Executive Directors in their task. This Committee met in Washington from November 23 through December 11, 1964, and the Executive Directors gratefully acknowledge the valuable advice they received from the representatives of the 61 member countries who served on the Committee.

III

9

In submitting the attached Convention to governments, the Executive Directors are prompted by the desire to strengthen the partnership between countries in the cause of economic development. The creation of an institution designated to facilitate the settlement of disputes between States and foreign investors can be a major step toward promoting an atmosphere of mutual confidence and thus stimulating a larger flow of private international capital into those countries which wish to attract it.

10

The Executive Directors recognize that investment disputes are as a rule settled through administrative, judicial or arbitral procedures available under the laws of the country in which the investment concerned is made. However, experience shows that disputes may arise which the parties wish to settle by other methods; and investment agreements entered into in recent years show that both States and investors frequently consider that it is in their mutual interest to agree to resort to international methods of settlement.

11

The present Convention would offer international methods of settlement designed to take account of the special characteristics of the disputes covered, as well as of the parties to whom it would apply. It would provide facilities for conciliation and arbitration by specially qualified persons of independent judgment carried out according to rules known and accepted in advance by the parties concerned. In particular, it would ensure that once a government or investor had given consent to conciliation or arbitration under the auspices of the Centre, such consent could not be unilaterally withdrawn.

12

The Executive Directors believe that private capital will continue to flow to countries offering a favourable climate for attractive and sound investments, even if such countries did not become parties to the Convention or, having joined, did not make use of the facilities of the Centre. On the other hand, adherence to the Convention by a country would provide additional inducement and stimulate a larger flow of private international investment into its territories, which is the primary purpose of the Convention.

13

While the broad objective of the Convention is to encourage a larger flow of private international investment, the provisions oft the Convention maintain a careful balance between the interests of investors and those of host States. Moreover, the Convention permits the institution of proceedings by host States as well as by investors and the Executive Directors have constantly had in mind that the provisions of the Convention should be equally adapted to the requirements of both cases.

14

The provisions of the attached Convention are for the most part self-explanatory. Brief comment on a few principal features may, however, be useful to member governments in their consideration of the Convention.

IV

The International Centre for Settlement of Investment Disputes

General

15

The Convention establishes the International Centre for Settlement of Investment Disputes as an autonomous international institution (Articles 18-24). The purpose of the Centre is “to provide facilities for conciliation and arbitration of investment disputes...” (Article 1 (2)). The Centre will not itself engage in conciliation or arbitration activities. This will be the task of Conciliation Commissions and Arbitral Tribunals constituted in accordance with the provisions of the Convention.

16

As sponsor of the establishment of the institution the Bank will provide the Centre with premises for its seat (Article 2) and pursuant to arrangements between the two institutions, with other administrative facilities and services (Article 6 (d)).

17

With respect to the financing of the Centre (Article 17), the Executive Directors have decided that the Bank should be prepared to provide the Centre with office accommodation free of charge as long as the Centre has its seat at the Bank's headquarters and to underwrite, within reasonable limits, the basic overhead expenditure of the Centre for a period of years to be determined after the Centre is established.

18

Simplicity and economy consistent with the efficient discharge of the functions of the Centre characterize its structure. The organs of the Centre are the Administrative Council (Articles 4-8) and the Secretariat (Articles 9-11). The Administrative Council will be composed of one representative of each Contracting State, serving without remuneration from the Centre. Each member of the Council casts one vote and matters before the Council are decided by a majority of the votes cast unless a different majority is required by the Convention. The President of the Bank will serve ex officio as the Council's Chairman but will have no vote. The Secretariat will consist of a Secretary-General, one or more Deputy Secretaries-General and staff. In the interest of flexibility the Convention provides for the possibility of there being more than one Deputy Secretary-General, but the Executive Directors do not now foresee a need for more than one or two full time high officials of the Centre. Article 10, which requires that the Secretary-General and any Deputy Secretary-General be elected by the Administrative Council by a majority of two-thirds of its members, on the nomination of the Chairman, limits their terms of office to a period not exceeding six years and permits their re-election. The Executive Directors believe that the initial election, which will take place shortly after the Convention will have come into force, should be for a short term so as not to deprive the States which ratify the Convention after its entry into force of the possibility of participating in the selection of the high officials of the Centre. Article 10 also limits the extent to which these officials may engage in activities other than their official functions.

Functions of the Administrative Council

19

The principal functions of the Administrative Council are the election of the Secretary-General and any Deputy Secretary-General, the adoption of the budget of the Centre and the adoption of administrative and financial regulations, rules governing the institution of proceedings and rules of procedure for conciliation and arbitration proceedings. Action on all these matters requires a majority of two-thirds of the members of the Council.

Functions of the Secretary-General

20

The Convention requires the Secretary-General to perform a variety of administrative functions as legal representative, registrar and principal officer of the Centre (Articles 7 (1), 11, 16 (3), 25 (4), 28, 36, 49 (1), 50 (1), 51 (1), 52 (1), 54 (2), 59, 60 (1), 63 (b) and 65). In addition, the Secretary-General is given the power to refuse registration of a request for conciliation proceedings or arbitration proceedings, and thereby to prevent the institution of such proceedings, if on the basis of the information furnished by the applicant he finds that the dispute is manifestly outside the jurisdiction of the Centre (Articles 28 (3) and 36 (3)). The Secretary-General is given this limited power to “screen” requests for conciliation or arbitration proceedings with a view to avoiding the embarrassment to a party (particularly a State) which might result from the institution of proceedings against it in a dispute which it had not consented to submit to the Centre, as well as the possibility that the machinery of the Centre would be set in motion in cases which for other reasons were obviously outside the jurisdiction of the Centre e.g., because either the applicant or the other party was not eligible to be a party in proceedings under the Convention.

The Panels

21

Article 3 requires the Centre to maintain a Panel of Conciliators and a Panel of Arbitrators, while Articles 12-16 outline the manner and terms of designation of Panel members. In particular, Article 14 (1) seeks to ensure that Panel members will possess a high degree of competence and be capable of exercising independent judgment. In keeping with the essentially flexible character of the proceedings, the Convention permits the parties to appoint conciliators and arbitrators from outside the Panels but requires (Articles 31 (2) and 40 (2)) that such appointees possess the qualities stated in Article 14 (1). The Chairman, when called upon to appoint a conciliator or arbitrator pursuant to Article 30 or 38, is restricted in his choice to Panel members.

V

Jurisdiction of the Centre

22

The term “jurisdiction of the Centre” is used in the Convention as a convenient expression to mean the limits within which the provisions of the Convention will apply and the facilities of the Centre will be available for conciliation and arbitration proceedings. The jurisdiction of the Centre is dealt with in Chapter II of the Convention (Articles 25-27).

Consent

23

Consent of the parties is the cornerstone of the jurisdiction of the Centre. Consent to jurisdiction must be in writing and once given cannot be withdrawn unilaterally (Article 25 (1)).

24

Consent of the parties must exist when the Centre is seized (Articles 28 (3) and 36 (3)) but the Convention does not otherwise specify the time at which consent should be given. Consent may be given, for example, in a clause included in an investment agreement, providing for the submission to the Centre of future disputes arising out of that agreement or in a compromis regarding a dispute which has already arisen. Nor does the Convention require that the consent of both parties be expressed in a single instrument. Thus, a host State might in its investment promotion legislation offer to submit disputes arising out of certain classes of investments to the jurisdiction of the Centre, and the investor might give his consent by accepting the offer in writing.

25

While consent of the parties is an essential prerequisite for the jurisdiction of the Centre, consent alone will not suffice to bring a dispute within its jurisdiction. In keeping with the purpose of the Convention, the jurisdiction of the Centre is further limited by reference to the nature of the dispute and the parties thereto.

Nature of the dispute

26

Article 25 (1) requires that the dispute must be a “legal dispute arising directly out of an investment.” The expression “legal dispute” has been used to make clear that while conflicts of rights are within the jurisdiction of the Centre, mere conflicts of interests are not. The dispute must concern the existence or scope of a legal right or obligation, or the nature or extent of the reparation to be made for breach of a legal obligation.

27

No attempt was made to define the term “investment” given the essential requirement of consent by the parties, and the mechanism through which Contracting States can make known in advance, if they so desire, the classes of disputes which they would or would not consider submitting to the Centre (Article 25 (4)).

Parties to the dispute

28

For a dispute to be within the jurisdiction of the Centre one of the parties must be a Contracting State (or a constituent subdivision or agency of a Contracting State) and the other party must be a “national of another Contracting State.” The latter term as defined in paragraph (2) of Article 25 covers both natural persons and juridical persons.

29

It should be noted that under clause (a) of Article 25 (2) a natural person who was a national of the State party to the dispute would not be eligible to be a party in proceedings under the auspices of the Centre, even if at the same time he had the nationality of another State. This ineligibility is absolute and cannot be cured even if the State party to the dispute had given its consent.

30

Clause (b) of Article 25 (2), which deals with juridical persons, is more flexible. A juridical person which had the nationality of the State party to the dispute would be eligible to be a party to proceedings under the auspices of the Centre if that State had agreed to treat it as a national of another Contracting State because of foreign control.

Notifications by Contracting States

31

While no conciliation or arbitration proceedings could be brought against a Contracting State without its consent and while no Contracting State is under any obligation to give its consent to such proceedings, it was nevertheless felt that adherence to the Convention might be interpreted as holding out an expectation that Contracting States would give favourable consideration to requests by investors for the submission of a dispute to the Centre. It was pointed out in that connection that there might be classes of investment, disputes which governments would consider unsuitable for submission to the Centre or which, under their own law, they were not permitted to submit to the Centre. In order to avoid any risk of misunderstanding on this score, Article 25 (4) expressly permits Contracting States to make known to the Centre in advance, if they so desire, the classes of disputes which they would or would not consider submitting to the Centre. The provision makes clear that a statement by a Contracting State that it would consider submitting a certain class of dispute to the Centre would serve for purposes of information only and would not constitute the consent required to give the Centre jurisdiction. Of course, a statement excluding certain classes of disputes from consideration would not constitute a reservation to the Convention.

Arbitration as exclusive remedy

32

It may be presumed that when a State and an investor agree to have recourse to arbitration, and do not reserve the right to have recourse to other remedies or require the prior exhaustion of other remedies, the intention of the parties is to have recourse to arbitration to the exclusion of any other remedy. This rule of interpretation is embodied in the first sentence of Article 26. In order to make clear that it was not intended thereby to modify the rules of international law regarding the exhaustion of local remedies, the second sentence explicitly recognizes the right of a State to require the prior exhaustion of local remedies.

Claims by the investor's State

33

When a host State consents to the submission of a dispute with an investor to the Centre, thereby giving the investor direct access to an international jurisdiction, the investor should not be in a position to ask his State to espouse his case and that State should not be permitted to do so. Accordingly, Article 27 expressly prohibits a Contracting State from giving diplomatic protection, or bringing an international claim, in respect of a dispute which one of its nationals and another Contracting State have consented to submit, or have submitted, to arbitration under the Convention, unless the State party to the dispute fails to honor the award rendered in that dispute.

VI

Proceedings under the Convention

Institution of proceedings

34

Proceedings are instituted by means of a request addressed to the Secretary-General (Articles 28 and 36). After registration of the request the Conciliation Commission or Arbitral Tribunal, as the case may be, will be constituted. Reference is made to paragraph 20 above on the power of the Secretary-General to refuse registration.

Constitution of Conciliation Commissions and Arbitral Tribunals

35

Although the Convention leaves the parties a large measure of freedom as regards the constitution of Commissions and Tribunals, it assures that a lack of agreement between the parties on these matters or the unwillingness of a party to co-operate will not frustrate proceedings (Articles 29-30 and 37-38, respectively).

36

Mention has already been made of the fact that the parties are free to appoint conciliators and arbitrators from outside the Panels (see paragraph 21 above). While the Convention does not restrict the appointment of conciliators with reference to nationality, Article 39 lays down the rule that the majority of the members of an Arbitral Tribunal should not be nationals either of the State party to the dispute or of the State whose national is a party to the dispute. This rule is likely to have the effect of excluding persons having these nationalities from serving on a Tribunal composed of not more than three members. However, the rule will not apply where each and every arbitrator on the Tribunal has been appointed by agreement of the parties.

Conciliation proceedings; powers and functions of Arbitral Tribunals

37

In general, the provisions of Articles 32-35 dealing with conciliation proceedings and of Articles 41-49, dealing with the powers and functions of Arbitral Tribunals and awards rendered by such Tribunals, are self-explanatory. The differences between the two sets of provisions reflect the basic distinction between the process of conciliation which seeks to bring the parties to agreement and that of arbitration which aims at a binding determination of the dispute by the Tribunal.

38

Article 41 reiterates the well-established principle that international tribunals are to be the judges of their own competence and Article 32 applies the same principle to Conciliation Commissions. It is to be noted in this connection that the power of the Secretary-General to refuse registration of a request for conciliation or arbitration (see paragraph 20 above) is so narrowly defined as not to encroach on the prerogative of Commissions and Tribunals to determine their own competence and, on the other hand, that registration of a request by the Secretary-General does not, of course, preclude a Commission or Tribunal from finding that the dispute is outside the jurisdiction of the Centre.

39

In keeping with the consensual character of proceedings under the Convention, the parties to conciliation or arbitration proceedings may agree on the rules of procedure which will apply in those proceedings. However, if or to the extent that they have not so agreed the Conciliation Rules and Arbitration Rules adopted by the Administrative Council will apply (Articles 33 and 44).

40

Under the Convention an Arbitral Tribunal is required to apply the law agreed by the parties. Failing such agreement, the Tribunal must apply the law of the State party to the dispute (unless that law calls for the application of some other law), as well as such rules of international law as may be applicable. The term “international law” as used in this context should be understood in the sense given to it by Article 38 (1) of the Statute of the International Court of Justice, allowance being made for the fact that Article 38 was designed to apply to inter-State disputes.

Recognition and enforcement of arbitral awards

41

Article 53 declares that the parties are bound by the award and that it shall not be subject to appeal or to any other remedy except those provided for in the Convention. The remedies provided for are revision (Article 51) and annulment (Article 52). In addition, a party may ask a Tribunal which had omitted to decide any question submitted to it, to supplement its award (Article 49 (2)) and may request interpretation of the award (Article 50).

42

Subject to any stay of enforcement in connection with any of the above proceedings in accordance with the provisions of the Convention, the parties are obliged to abide by and comply with the award and Article 54 requires every Contracting State to recognize the award as binding and to enforce the pecuniary obligations imposed by the award as if it were a final decision of a domestic court. Because of the different legal techniques followed in common law and civil law jurisdictions and the different judicial systems found in unitary and federal or other non-unitary States, Article 54 does not prescribe any particular method to be followed in its domestic implementation, but requires each Contracting State to meet the requirements of the Article in accordance with its own legal system.

43

The doctrine of sovereign immunity may prevent the forced execution in a State of judgments obtained against foreign States or against the State in which execution is sought. Article 54 requires Contracting States to equate an award rendered pursuant to the Convention with a final judgment of its own courts. It does not require them to go beyond that and to undertake forced execution of awards rendered pursuant to the Convention in cases in which final judgments could not be executed. In order to leave no doubt on this point Article 55 provides that nothing in Article 54 shall be construed as derogating from the law in force in any Contracting State relating to immunity of that State or of any foreign State from execution.

VII

Place of Proceedings

44

In dealing with proceedings away from the Centre, Article 63 provides that proceedings may be held, if the parties so agree, at the seat of the Permanent Court of Arbitration or of any other appropriate institution with which the Centre may enter into arrangements for that purpose. These arrangements are likely to vary with the type of institution and to range from merely making premises available for the proceedings to the provision of complete secretariat services.

VIII

Disputes Between Contracting States

45

Article 64 confers on the International Court of Justice jurisdiction over disputes between Contracting States regarding the interpretation or application of the Convention which are not settled by negotiation and which the parties do not agree to settle by other methods. While the provision is couched in general terms, it must be read in the context of the Convention as a whole. Specifically, the provision does not confer jurisdiction on the Court to review the decision of a Conciliation Commission or Arbitral Tribunal as to its competence with respect to any dispute before it. Nor does it empower a State to institute proceedings before the Court in respect of a dispute which one of its nationals and another Contracting State have consented to submit or have submitted to arbitration, since such proceedings would contravene the provisions of Article 27, unless the other Contracting State had failed to abide by and comply with the award rendered in that dispute.

IX

Entry into Force

46

The Convention is open for signature on behalf of States members of the Bank. It will 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. No time limit has been prescribed for signature. Signature is required both of States joining before the Convention enters into force and those joining thereafter (Article 67). The Convention is subject to ratification, acceptance or approval by the signatory States in accordance with their constitutional procedures (Article 68). As already stated, the Convention will enter into force upon the deposit of the twentieth instrument of ratification, acceptance or approval.

Verdrag inzake de beslechting van geschillen met betrekking tot investeringen tussen Staten en onderdanen van andere Staten

Preambule

De Verdragsluitende Staten,

Overwegende de noodzaak tot internationale samenwerking op het gebied van de economische ontwikkeling en de rol, welke particuliere internationale investeringen daarbij spelen;

Rekening houdende met de mogelijkheid dat geschillen inzake dergelijke investeringen kunnen rijzen tussen Verdragsluitende Staten en onderdanen van andere Verdragsluitende Staten;

Erkennende dat het in bepaalde gevallen wenselijk kan zijn dat dergelijke geschillen door internationale procedures worden geregeld, ook al zullen deze geschillen in het algemeen onderworpen zijn aan nationale rechtswegen;

Bijzonder belang hechtende aan het openstaan van mogelijkheden voor internationale bemiddeling of arbitrage, waaraan Verdragsluitende Staten en onderdanen van andere Verdragsluitende Staten dergelijke geschillen kunnen onderwerpen, indien zij dit wensen;

Verlangende, deze mogelijkheden te scheppen onder auspiciën van de Internationale Bank voor Herstel en Ontwikkeling;

Erkennende dat wederzijdse instemming van de partijen om deze geschillen te onderwerpen aan bemiddeling of arbitrage langs deze weg, een bindende overeenkomst vormt, welke met name vereist dat aan de aanbevelingen van de bemiddelaars passende aandacht wordt geschonken en dat de arbitrale uitspraken ten uitvoer worden gelegd;

Verklarende dat geen Verdragsluitende Staat, alleen door het feit dat hij dit Verdrag bekrachtigt, aanvaardt of goedkeurt, geacht wordt zonder zijn instemming verplicht te zijn een bepaald geschil aan bemiddeling of arbitrage te onderwerpen,

Zijn het volgende overeengekomen:

HOOFDSTUK

I

Het Internationale Centrum voor Beslechting van Investeringsgeschillen

Afdeling

1

Oprichting en Organisatie

Artikel

1

Artikel

2

De zetel van het Centrum is gevestigd ten hoofdkantore van de Internationale Bank voor Herstel en Ontwikkeling (hierna te noemen de Bank). De zetel kan worden verplaatst naar een andere plaats bij besluit van de Raad van Bestuur, genomen door een meerderheid van twee derden van zijn leden.

Artikel

3

Het Centrum bestaat uit een Raad van Bestuur en een Secretariaat. Het houdt een Lijst aan van Bemiddelaars en een Lijst van Arbiters.

Afdeling

2

De Raad van Bestuur

Artikel

4

Artikel

5

De President van de Bank is ex officio Voorzitter van de Raad van Bestuur (hierna genoemd de Voorzitter), maar heeft geen stemrecht. Wanneer hij afwezig of niet tot handelen in staat is of indien de zetel van de President van de Bank vacant is, treedt de waarnemend President op als Voorzitter van de Raad van Bestuur.

Artikel

6

Artikel

7

Artikel

8

De werkzaamheden van de leden van de Raad van Bestuur alsmede van de President worden niet gehonoreerd door het Centrum.

Afdeling

3

Het Secretariaat

Artikel

9

Het Secretariaat bestaat uit een Secretaris-Generaal, een of meer Plaatsvervangende Secretarissen-Generaal en verder personeel.

Artikel

10

Artikel

11

De Secretaris-Generaal is de vertegenwoordiger in rechten en de hoogste ambtenaar van het Centrum. Hij is verantwoordelijk voor het beheer daarvan, waaronder de benoeming van de leden van het personeel overeenkomstig de bepalingen van dit Verdrag en de door de Raad van Bestuur vastgestelde bepalingen. Hij treedt op als griffier en is bevoegd de scheidsrechterlijke uitspraken, gewezen ingevolge dit Verdrag, te legaliseren en afschriften daarvan te waarmerken.

Afdeling

4

De Lijsten

Artikel

12

De Lijst van Bemiddelaars en de Lijst van Arbiters bestaan ieder uit namen van personen die de voor deze functies vereiste bekwaamheden bezitten en aangewezen zijn op de hierna bepaalde wijze en die goedvinden, op deze Lijsten te worden vermeld.

Artikel

13

Artikel

14

Artikel

15

Artikel

16

Afdeling

5

De Inkomsten van het Centrum

Artikel

17

Indien de uitgaven van het Centrum niet kunnen worden gedekt door de vergoedingen voor het gebruik van zijn diensten of door andere ontvangsten, worden de resterende kosten gedragen door de Verdragsluitende Partijen die lid zijn van de Bank, en door de Verdragsluitende Staten die geen lid van de Bank zijn, overeenkomstig de door de Raad van Bestuur vastgestelde regels.

Afdeling

6

Status, immuniteiten en voorrechten

Artikel

18

Het Centrum bezit volledige rechtspersoonlijkheid naar internationaal recht. De rechtsbevoegdheid van het Centrum omvat onder meer:

  • a)

    het aangaan van overeenkomsten;

  • b)

    het verwerven en vervreemden van roerend en onroerend goed;

  • c)

    het optreden in rechte.

Artikel

19

Ten einde zijn werkzaamheden te kunnen verrichten geniet het Centrum op het grondgebied van elk der Verdragsluitende Staten de in deze Afdeling neergelegde immuniteiten en voorrechten.

Artikel

20

Het Centrum, alsmede zijn eigendommen en tegoeden, genieten immuniteit van rechtsmacht, tenzij het Centrum afstand doet van deze immuniteit.

Artikel

21

De Voorzitter, de leden van de Raad van Bestuur, zij die optreden als bemiddelaars, arbiters of als leden van een Comité ingesteld ingevolge artikel 52, lid 3, alsmede de ambtenaren en het overige personeel van het secretariaat:

  • a)

    genieten immuniteit van rechtsmacht met betrekking tot handelingen die zij bij het vervullen van hun taak hebben verricht, tenzij het Centrum afstand doet van deze immuniteit;

  • b)

    genieten, indien zij geen onderdaan zijn van de Staat waar zij hun werkzaamheden verrichten, dezelfde immuniteiten terzake van immigratiebeperkingen, voorschriften voor vreemdelingenregistratie en dienstplicht, alsmede dezelfde faciliteiten terzake van deviezenbeperkingen en dezelfde behandeling, voorzover het betreft het maken van reizen als die welke de Verdragsluitende Staten verlenen aan de vertegenwoordigers, ambtenaren en het overige personeel van overeenkomstige rang van andere Verdragsluitende Staten.

Artikel

22

De bepalingen van artikel 21 zijn van toepassing op hen die als partij, vertegenwoordiger, raadsman, advocaat, getuige of deskundige aan een geding volgens dit Verdrag deelnemen, met dien verstande echter dat het bepaalde sub b) slechts van toepassing is ten aanzien van hun reis naar en van, en hun verblijf in de plaats waar het geding wordt gehouden.

Artikel

23

Artikel

24

HOOFDSTUK

II

Het werkterrein van het Centrum

Artikel

25

Artikel

26

Toestemming van partijen tot arbitrage volgens dit Verdrag wordt, tenzij anders wordt verklaard, beschouwd als toestemming tot zodanige arbitrage met uitsluiting van ieder ander beslechtingsmiddel. Een Verdragsluitende Staat kan, als voorwaarde voor zijn toestemming tot arbitrage volgens dit Verdrag, eisen dat de nationale administratieve of gerechtelijke middelen tot beslechting zijn uitgeput.

Artikel

27

HOOFDSTUK

III

Bemiddeling

Afdeling

1

Het verzoek tot bemiddeling

Artikel

28

Afdeling

2

De samenstelling van de Bemiddelingscommissie

Artikel

29

Artikel

30

Indien de Commissie niet is samengesteld binnen 90 dagen nadat de kennisgeving van inschrijving van het request door de Secretaris-Generaal overeenkomstig artikel 28, lid 3, is verzonden of binnen een andere tussen partijen overeengekomen termijn, benoemt de Voorzitter op verzoek van een van beide partijen, en voor zover mogelijk na raadpleging van beide partijen, de nog niet benoemde bemiddelaar of bemiddelaars.

Artikel

31

Afdeling

3

Het geding voor de Bemiddelingscommissie

Artikel

32

Artikel

33

De bemiddelingsprocedure wordt gevoerd overeenkomstig de bepalingen van deze Afdeling en, tenzij partijen anders overeenkomen, overeenkomstig de Procedureregels voor Bemiddeling, van kracht op het tijdstip waarop partijen in bemiddeling hebben toegestemd. Indien een vraag rijst inzake de procedure waarin niet door deze Afdeling of door de genoemde Procedureregels of enige andere door partijen aanvaarde regel wordt voorzien, beslist de Commissie.

Artikel

34

Artikel

35

Tenzij partijen bij het geschil anders overeenkomen, is geen der partijen bij een bemiddelingsgeding gerechtigd in enig ander geding, hetzij voor arbiters, hetzij voor een rechtbank of op andere wijze, een beroep te doen of te stemmen op door de andere partij in het bemiddelingsgeding geuite meningen, verklaringen, erkenningen of voorstellen tot regeling, dan wel op het rapport of de aanbevelingen, opgesteld door de Commissie.

HOOFDSTUK

IV

Arbitrage

Afdeling

1

Het verzoek tot arbitrage

Artikel

36

Afdeling

2

De samenstelling van het Scheidsgerecht

Artikel

37

Artikel

38

Indien het Scheidsgerecht niet is samengesteld binnen 90 dagen nadat de kennisgeving van inschrijving van het request door de Secretaris-Generaal overeenkomstig artikel 36, lid 3, is verzonden, of binnen een andere tussen partijen overeengekomen termijn, benoemt de Voorzitter op verzoek van een van beide partijen en voor zover mogelijk na raadpleging van beide partijen, de nog niet benoemde arbiter of arbiters. De door de Voorzitter ingevolge de bepalingen van dit artikel benoemde arbiters mogen geen onderdaan zijn van de Verdragsluitende Staat welke partij is bij het geschil of van de Verdragsluitende Staat wiens onderdaan partij is bij het geschil.

Artikel

39

De meerderheid der arbiters dient onderdaan te zijn van andere Staten dan de Verdragsluitende Staat die partij is bij het geschil en dan de Verdragsluitende Staat wiens onderdaan partij is bij het geschil, met dien verstande evenwel dat bovenstaande bepalingen van dit artikel niet van toepassing zijn, indien de partijen in onderlinge overeenstemming de enige arbiter of elk der leden van het Scheidsgerecht hebben benoemd.

Artikel

40

Afdeling

3

De bevoegdheden en functies van het Scheidsgerecht

Artikel

41

Artikel

42

Artikel

43

Tenzij partijen anders overeenkomen kan het Scheidsgerecht, indien het zulks nodig oordeelt, in elke fase van het geding:

  • a)

    de partijen opdragen, stukken of ander bewijs over te leggen, alsmede

  • b)

    zich naar de plaats van het geschil begeven en daar die onderzoekingen verrichten die het nodig oordeelt.

Artikel

44

Het arbitragegeding wordt gevoerd overeenkomstig de bepalingen van deze Afdeling, en tenzij partijen anders overeenkomen, overeenkomstig de Procedureregels voor Arbitrage, van kracht op het tijdstip waarop zij hebben ingestemd met de arbitrage. Indien een vraag rijst over de procedure, waarin niet is voorzien door deze Afdeling, of door de Procedureregels voor Arbitrage, of door enige door partijen overeengekomen regels, wordt deze vraag beslist door het Scheidsgerecht.

Artikel

45

Artikel

46

Tenzij partijen anders overeenkomen beslist het Scheidsgerecht, op verzoek van een der partijen, over bijkomende of verderstrekkende eisen dan wel eisen in reconventie, welke rechtstreeks verband houden met het voorwerp van geschil, mits deze eisen binnen het kader van de door partijen gegeven toestemming en overigens binnen het werkterrein van het Centrum vallen.

Artikel

47

Tenzij partijen anders overeenkomen kan het Scheidsgerecht, indien het zulks op grond van de omstandigheden noodzakelijk acht, voorlopige maatregelen aanbevelen ter bescherming van de rechten van partijen.

Afdeling

4

De Uitspraak

Artikel

48

Artikel

49

Afdeling

5

Interpretatie, revisie en vernietiging van de uitspraak

Artikel

50

Artikel

51

Artikel

52

Afdeling

6

Erkenning en Tenuitvoerlegging van de Uitspraak

Artikel

53

Artikel

54

Artikel

55

Geen der bepalingen van artikel 54 kan worden uitgelegd als afbreuk te doen aan het recht, van kracht in een Verdragsluitende Staat, betreffende de immuniteit van deze Staat of van een vreemde Staat ten aanzien van de tenuitvoerlegging van vonnissen.

HOOFDSTUK

V

Vervanging en Uitsluiting van Bemiddelaars en Arbiters

Artikel

56

Artikel

57

Een partij kan de Commissie of het Scheidsgerecht voorstellen, een der leden te disqualificeren wegens enig feit dat wijst op een klaarblijkelijk ontbreken van de in artikel 14, eerste lid, vereiste hoedanigheden. Een partij bij een arbitragegeding kan bovendien disqualificatie van een arbiter voorstellen met het motief dat deze niet voldeed aan de in Afdeling 2 van Hoofdstuk IV gestelde voorwaarden voor benoeming in het Scheidsgerecht.

Artikel

58

De overige leden van de Commissie, onderscheidenlijk het Scheidsgerecht beslissen over elk voorstel tot disqualificatie van een bemiddelaar of een arbiter. Bij staking van stemmen, of indien het verzoek tot disqualificatie betrekking heeft op één bemiddelaar of arbiter of op een meerderheid van de leden van de Commissie of van het Scheidsgerecht, wordt deze beslissing genomen door de Voorzitter. Indien de beslissing luidt dat het voorstel gegrond is, wordt de betrokken bemiddelaar of arbiter vervangen overeenkomstig de bepalingen van Hoofdstuk III, Afdeling 2, of van Hoofdstuk IV, Afdeling 2.

HOOFDSTUK

VI

De kosten van het geding

Artikel

59

De door partijen wegens gebruikmaking van de diensten van het Centrum verschuldigde bedragen worden door de Secretaris-Generaal vastgesteld in overeenstemming met de door de Raad van Bestuur terzake vastgestelde reglementen.

Artikel

60

Artikel

61

HOOFDSTUK

VII

De plaats van het geding

Artikel

62

De bemiddelings- en arbitragegedingen bedoeld in dit Verdrag dienen ter plaatse waar het Centrum is gevestigd, behoudens het hierna bepaalde.

Artikel

63

Indien partijen aldus besluiten, kunnen de bemiddelings- en arbitragegedingen dienen:

  • a)

    hetzij ter plaatse waar het Permanent Hof van Arbitrage of enige andere daarvoor in aanmerking komende instelling van publiekrechtelijke of privaatrechtelijke aard, waarmee het Centrum de nodige regelingen ter zake kan treffen, is gevestigd;

  • b)

    hetzij op een andere door de Commissie of het Scheidsgerecht na overleg met de Secretaris-Generaal goedgekeurde plaats.

HOOFDSTUK

VIII

Geschillen tussen de Verdragsluitende Staten

Artikel

64

Geschillen die rijzen tussen de Verdragsluitende Staten met betrekking tot de interpretatie of de toepassing van dit Verdrag, die niet door onderhandelingen worden opgelost, worden op verzoek van een der partijen bij het geschil voor het Internationale Gerechtshof gebracht, tenzij de betrokken Staten een andere wijze van beslechting overeenkomen.

HOOFDSTUK

IX

Wijzigingen

Artikel

65

Iedere Verdragsluitende Staat kan wijzigingen in dit Verdrag voorstellen. De tekst van een wijzigingsvoorstel wordt medegedeeld aan de Secretaris-Generaal uiterlijk 90 dagen vóór de vergadering van de Raad van Bestuur waarop genoemde wijziging moet worden overwogen en wordt door de Secretaris-Generaal terstond ter kennis gebracht van alle leden van de Raad van Bestuur.

Artikel

66

HOOFDSTUK

X

Slotbepalingen

Artikel

67

Dit Verdrag staat open voor ondertekening door Staten die lid zijn van de Bank. Het staat tevens open voor ondertekening door alle andere Staten die partij zijn bij het Statuut van het Internationale Gerechtshof, indien de Raad van Bestuur hen met een meerderheid van twee derden van zijn leden heeft uitgenodigd het Verdrag te ondertekenen.

Artikel

68

Artikel

69

De Verdragsluitende Staten nemen de wettelijke en andere maatregelen, welke nodig zijn om de bepalingen van dit Verdrag van kracht te doen zijn op hun grondgebied.

Artikel

70

Dit Verdrag is van toepassing op alle gebieden waarvan de buitenlandse betrekkingen onder de verantwoordelijkheid van een der Verdragsluitende Staten vallen, tenzij die Staat deze gebieden, door middel van een schriftelijke kennisgeving aan de depositaris van dit Verdrag, heeft uitgesloten, hetzij op het tijdstip van de bekrachtiging, aanvaarding of goedkeuring, hetzij op enig later tijdstip.

Artikel

71

De Verdragsluitende Staten kunnen dit Verdrag opzeggen door middel van een schriftelijke kennisgeving aan de depositaris van dit Verdrag. De opzegging heeft rechtsgevolg vanaf zes maanden na ontvangst van een dergelijke kennisgeving.

Artikel

72

Een kennisgeving door een Verdragsluitende Staat overeenkomstig de artikelen 70 of 71 doet geen afbreuk aan de rechten en verplichtingen krachtens dit Verdrag van die Staat of van een van zijn samenstellende delen of organen of van een onderdaan van die Staat, die voortvloeien uit toestemming tot de bevoegdheid van het Centrum, gegeven vóór het tijdstip waarop genoemde kennisgeving door de depositaris is ontvangen.

Artikel

73

De akten van bekrachtiging, aanvaarding of goedkeuring van dit Verdrag en van daarin aangebrachte wijzigingen, worden nedergelegd bij de Bank, die zal optreden als depositaris van dit Verdrag. De depositaris zendt gewaarmerkte afschriften van dit Verdrag aan de Staten die lid zijn van de Bank en aan iedere andere Staat die is uitgenodigd het Verdrag te ondertekenen.

Artikel

74

De depositaris laat dit Verdrag bij het Secretariaat van de Verenigde Naties registreren overeenkomstig artikel 102 van het Handvest der Verenigde Naties, en het krachtens dit artikel door de Algemene Vergadering aangenomen Reglement.

Artikel

75

De depositaris stelt alle ondertekenende Staten in kennis van:

  • a)

    ondertekeningen overeenkomstig artikel 67;

  • b)

    nederlegging van de akten van bekrachtiging, aanvaarding en goedkeuring overeenkomstig artikel 73;

  • c)

    het tijdstip van inwerkingtreding van dit Verdrag overeenkomstig artikel 68;

  • d)

    uitsluitingen van territoriale toepassing ingevolge artikel 70;

  • e)

    het tijdstip van inwerkingtreding van wijzigingen van dit Verdrag overeenkomstig artikel 66;

  • f)

    opzeggingen overeenkomstig artikel 71.

GEDAAN te Washington in de Engelse, Franse en Spaanse taal, zijnde deze drie teksten gelijkelijk authentiek, in één exemplaar, dat zal worden nedergelegd in het archief van de Internationale Bank voor Herstel en Ontwikkeling, die door haar onderstaande handtekening te kennen heeft gegeven dat zij de haar bij dit Verdrag opgedragen taken zal vervullen.

For the International Bank for Reconstruction and Development:

(sd.) GEORGE D. WOODS

President

(sd.) H. BROCHES

General Counsel

18 March 1965