3

lowing the request. for negotiations the two Governnents have not
resolved the claim by mutual agreement, the chain, inchiding the ques-
tion of whether it presents a question of public international law,
be submitted for settlement to an arbitral tribunal selected in ¢
ance with paragraph (2) above. The arbit
decision exclusively on the applicable principles and rules of public
ternational Jaw. Only the respective Governments may request the
arbitral procedure and participate in it,

7 This Agreement shall continue in force until six months from the
date of receipt of a note by which one Government informs the other
of an intent no longer to be party to the Agreement. In such event, the
provisions of the Agreement with respect to guaranties issued while
the Agreement was in force shall remain in force for the duration of
thoso guaranties, in no case longer than twenty years after the denunci-
ation of the Agreement.

8. This Agreement shall enter into force on the date of signature.

In wrrness wuertor the respective representative
for the purpose, have signed the present Agreement.

Doxy at Castries, Saint Lucia, in duplicate, this ninth day of
August 1968.

duly authorized

FOR THE GOY.
UNITED STATE

RNM.
OF &

TOF THE FOR THE GOVERNM
LERICA: SAINT LUCIA:

TOF

Freveic R. May Honrer J. Fraxcois

United States Special aly. Premios
Representative

TAS

U.S. SOVFRRMLHT PRINTING OFFICE: 1968


2

interests under the laws of the Host Government. The Guaranteeing
Government shall assert no greater rights than those of the transfer-
ring investor under the laws of the Host Government. with respect to
any interests transferred or succeeded to as contemplated in paragraph
3. The Guaranteeing Government docs, however, reserve its rights to
assert a claim in its sovereign capacity in the eventuality of a denial of
justice or other question of state responsibility as defined in interna-
tional law.

5. Amounts in the lawful currency of the Host Government and
credits thereof acquired by the Guaranteeing Government under such
guaranties shall be accorded treatment neither less nor move favorable
than that accorded to funds of nationals of the Guaranteeing Govern-
ment deriving from investment activities like thoxe in which the in-
vestor has been engaged, and such amounts and credits shall be freely
available to the Guaranteeing Government to meet its expenditures in
the national territory of the Host Government.

6. (a) Differences between’ the two Governments concerning the
interpretation of the provisions of this Agreement shall be settled,
insofar as possible, through negotiations between the two Govern-
ments, If such a difference cannot be resolved within a period of three
months following the request for such negotiations, it shall be sub-
mitted, at the request of either Government, to an ad hoe arbitral
tribunal for settlement in accordance with the applicable principles
and rules of public international law. The arbitral tribunal shall be
established as follows: Each Government shal] appoint one arbitrator ;
these two arbitrators shall designate a President by common agreement
who shall be a citizen of a third State and he appointed by the two
Governments. The arbitrators shall be appointed within to months
and the President within three months of the date of receipt of either
Government’s request. for arbitration. If the foregoing time limits are
not met, either Government, may, in the absence of any other agree-
ment, request the President of the International Court of Justice to
make the necessary appointment or appeintments, and both Govern-
ments agreo to accept such appointment or appointments. The arbitral
tribunal shall decide by majority vote. Its decision shall be binding.
Each of the Governments shall pay the expense of its member and its
representation in the proceedings before the arbitral tribunal; the
expenses of the President and the other costs shall be paid in equal
parts by the two Governments. The arbitral tribunal may adopt other
regulations concerning the costs, Tn all other matters, the arbitral
tribunal shall regulate its own procedures.

(b) Any claim, arising out of investments euaranteed in aecord-
ance with this Agreement, against either of the two Governments,
whieh, in the opinion of the other, presents a question of public inter-
national kaw shall, at the request of the Government. presenting the
claim, be submitted to negotiations. Hf at the end of three months tol-



TREATIES AND OTHER INTERNATIONAL ACTS SENIES

6546

[INVESTMENT GUARANTIES

Agreement Between the
Unirep Srates of AMERICA
and Saint Lrvera

Signed at Castries August 9, 1968



NOTE BY THE DEPARTMENT OF STATE

Pursuant to Public Law 89-497, approved
July 8, 1966 (SO Stat. 271; 1 U.S.C. 113) —

“... the Treaties and Other International Acts
Series issued under the authority of the Secretary of
State shall be competent evidence . . . of the treaties,
international agreements other than treaties, and proc-
lamations by the President of such treaties and inter-
national agreements other than treaties, as the case
may be, therein contained, in all the courts of law
and equity and of maritime jurisdiction, and in all the
tribunals and public offices of the United States, and
of the several States, without any further proof or
authentication thereof.”

For sale by the Superintendent of Documents, U.S. (

Washington, D.C, 20402 ~ Price 10 cents

rament Printing Office


|

SAINT LUCIA

Investment Guaranties

Agreement signed at Castries August 9, 1968;
Entered into force August 9, 1968.

IN WENT

ESTMENT GUARANTY AGREE

The Government of the United States of Aimevica (the “Guarantee-
ing Government”) aud the Government of Saint Lucia (the “To
Government”) ;
Seeking to encourage private investments in projects which will
tribute to the development of Saint Lucia’s econo
productive capacities through investment puacanties
Guaranteeing Government,

Have agreed as follows:

1-
ie resources and

sued by the

1. When nationals of the Guaranteeing Government propose to in-
yest with the assistance of guaranties issued pursuant to this Agree-
ment in a project or activity within the territorial jurisdiction of the
Host Government, the two Governments shal], upon the request of
either, consult respecting the nature of the project ov activity and its
contribution to economic and social development in Saint Lucia.

2. The procedures set forth in this Agreement shal! apply only with
respect fo guaranteed investments in projects or activities approved by
the Host. Government.

3. If the Guaranteeing Government makes payinent to any investor
under a guaranty issued pursuant to the pre-ent Agreement, the Host
Government. shall, subject. to the provisions of the Lollowing para-
graph, recognize the transfer to the Guaranteeing Government. of any
currency, credits, assets, or Investment on account of which payment
under such guaranty is made as well as the succession of the Craran-
teeing Government. to any right, title, claiiny privilege. or cause of
action existing. or which may arise, in conection therewith.

4, To the extent that the laws of the Host Government partially or
wholly invalidate the acquisition of any interests jn any property
within its national territory by the Guaranteeing Government, (he
Tost Government shall permit such investor and the Guaranteeing
Government to make appropriate arrangements purswiit lo whieh
such interests are transferred fea entity pers

vel ta awn sneh

PES BS. a THAS G46