8. 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 a Party to the Agreement. In
such event, the provisions of the Agreement with respect to Coverage
issued while the Agreement was in force shal! remain in force for
the duration of such Coverage, but in no case longer than twenty
years after the denunciation of the Agreement.

9. Upon receipt of a note from Your Excel lene y: ndicating that the
foregoing provisions. are acceptable to “the. Gov: ramen tof: the United
Kingdom on behalf of the Government ‘of AnguilTa,
the United States of America shall consider ‘tha’

he Government of

11s “Note and: -Your
Excellency's reply thereto shall constitute. an: Agr. ement betweén our
Governments on this subject. This: Agreement: shall enter” into force
on the date of signature.

Accept, Excellency, the renewed assurances of: my highest
consideration.

I have the honour to: inform Your Excellency that the foregoing
proposal with respect. to Anguilla is acceptable to the Government of
the United Kingdom of Great Britain and Northern, _Treland who

therefore agree th Your Excellency's Note _and- this reply shall

constitute: an ‘Agreement between the two) Governments which shall come

in. accordance with the final Patagraph>of Your
Excel lency's--Note-.

high consideration.



shall permit such party and the Issuer to make
appropriate arrangements pursuant to which such
interests are transferred to an entity permitted to
own such interests under the laws of Anguilla,

5. Amounts in the lawful currency of Anguilla,
including credits thereof, acquired by the Issuer
by virtue of such Coverage shall be accorded
treatment by the Government of Anguilla no less
favorable as to use and conversion than the
treatment to which such funds would be entitled in
the hands of the Party under Coverage. Such
amounts and credits may be transferred by the
Issuer to any person or entity and Upon such
transfer shall be freely available for use by such
person or entity in the territory of Anguilla,

6. (a) Any dispute between the Government of the
United States of America and the Government of the
United Kingdom, including Anguilla, regarding the
interpretation of this Agreement or which, in the
opinion of one of the Governments, involves a
question of public international law arising out of
any project or activity for which Coverage has been
issued shall be resolved, insofar as possible,
through negotiations between the Governments, If
at the end of three months following the request
for negotiations the Governments have not resolved
the dispute by agreement, the dispute, including
the question of whether such dispute presents a
question of public international law, shall be
submitted, at the initiative of either Government,
to an arbitral tribunal for resolution in
accordance with Paragraph 6(b).

(b) The arbitral tribunal for resolution of
disputes pursuant to Paragraph 6(a) shall be
established and function as follows:

(i) each Government shall appoint one
arbitrator; these two arbitrators shall
designate a president by common agreement who
shall be a citizen of a third state and be
appointed by the two Governments, The
arbitrators shall be appointed within two
months and the president within three months of
the date of receipt of either Government's
request for arbitration. If the appointments
are not made within the foregoing time limits,
either Government may, in the absence of any
other agreement, request the Secretary General
of the International Center for the Settlement
of Investment Disputes to make the necessary
appointment or appointments, and both
Governments agree to accept such appointment or
appointments;

(ii) the arbitral tribunal shall base its
decision on the applicable Principles and rules
of public international law. The arbitral
tribunal shall decide by Majority vote, Its
decision shall be final and binding; ~


(b) The arbitral tribunal for resolution of disputes Pursuant
to Paragraph 6(a) shall be established and function as follows:

(i) each Government shall appoint one arbitrator; these two
arbitrators shal! designate a President by common
agreement who shall be a citizen of a third state and be
appointed by the two Governments. The arbitrators shall
be appointed within two months and the president within
three months of the date of receipt of either
Government's request for arbitration. If the
appointments are not made within the foregoing time
limits, either Government may, in the absence of any$
other agreement, request the Secretary General of of? the
International Center for the Settlement. of Investment
Disputes to make the Necessary appointment or
appointments, and both Governments agree to accept such
appointment or appointments;

(ii) the arbitral tribunal shal] base its decision on the
applicable Principles and rules of public international
law. The arbitral tribunat shall decide by majority
vote. Its decision shal! be final and binding;

(iii) each of the Governments shall pay the expense of its
arbitrator and of 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 regulations concerning the costs, consistent with
the foregoing;

(iv) in all other matters, the arbitral tribunal shall
regulate its own procedures,

7. The Agreement on Investment Guaranties effected by the Exchange
of Notes signed at Basseterre, St. Christopher, on November 21, 1968
shall be superseded with respect to Anguilla by the entry into force
of the present Agreement.

-4.- -


EMBASSY OF THE UNITED STATES OF AMERICA
LONDON

November 9, 1987

No. 103

Excellency:

I have the honor to refer to discussions which have |
recently taken place between representatives of the
Government of the United States of America and the Government
of the United Kingdom of Great Britain and Northern Ireland,
on behalf of the Government of Anguilla, relating to economic
activities in Anguilla which promote the development of the
economic resources and productive capacities of Anguilla ana
to investment insurance (including reinsurance) and
guaranties which are backed in whole or in part by the credit
or public monies of the United States of america and are
administered either directly by the Overseas Private
Investment Corporation: ("OPIC"), an independent government
corporation organized under the laws of the United States of
America, or pursuant to arrangements between OPIC and
commercial insurance, reinsurance and other companies.

I also have the honor to confirm that the Government of
the United States of America is prepared to conclude an
agreement with the Government of the United Kingdom of Great
Britain and Northern Ireland, on behalf of the Government of
Anguilla, in accordance with the following terms and

conditions:

Tim Eggar, MP
Parliamentary Under-Secretary of State
Foreign and Commonwealth Office
London


e@ “4+ @

(iii) each of the Governments shall pay the
expense of its arbitrator and of 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 regulations
concerning the costs, consistent with the
foregoing;

(iv) in all other matters, the arbitral
tribunal shall regulate its own procedures,

7. The Agreement on Investment Guaranties effected
by the Exchange of Notes signed at Basseterre, St.
Christopher, on November 21, 1968 shall be
superseded with respect to Anguilla by the entry
into force of the Present Agreement.

8. 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 a party to the Agreement. -In such
event, the provisions of the Agreement with respect
to Coverage issued while the Agreement was in force
shall remain in force for the duration of such
Coverage, but in no case longer than twenty years
after the denunciation of the Agreement.

Upon receipt of a note from Your Excellency
indicating that the foregoing provisions are
acceptable to the Government of the United Kingdom
on behalf of the Government of Anguilla, the
Government of the United States of America shall
consider that this Note and Your Excellency's reply
thereto shall constitute an Agreement between our
Governments on this subject. This Agreement shall
enter into force on the date of signature.

Accept, Excellency, the renewed assurances of

REA

my highest consideration.


Foreign and Commonwealth Office

London SW1A 2AH

9 November 1987

Sir,

I have the honour to acknowledge receipt of your Note No. 103
which reads as follows:

Excellency:

I have the honor to refer to discussions which have recently
taken place between representatives of the Government of the United
States of America and the Government of the United Kingdom of
Great Britain and Northern Ireland on behalf of the Government of
Anguilla relating to economic activities in Anguilla which promote
the development of the economic resources and productive Capacities
of Anguilla and to investment insurance (including reinsurance) and
guarantees which are backed in whole or in Part by the credit or
Public monies of the United States of America and are administered
either directly by the Overseas Private Investment Corporation
("OPIC"), an independent government corporation organized under the
faws of the United States of America, or pursuant to arrangements
between OPIC and commercial insurance, reinsurance and other

companies,

I also have the honor to confirm that the Government of the United
States of America is prepared to conclude an agreement with the
Government of the United Kingdom of Great Britain and Northern
Ireland, on behalf of the Government of Anguilla, in accordance with
the following terms and conditions:

Mr Raymond Seitz
Chargé d'affaires
American Embassy, London


1, As_used herein, the term "coverage" shall refer
to any investment insurance, reinsurance Or guaranty
which is issued in accordance with this Agreement by
OPIC, by any successor agency of the United States
of America or by any other entity or group of
entities, pursuant to arrangements with OPIC or any
successor agency, all of whom are hereinafter deemed
included in the term "Issuer" to the extent of their
interest as insurer, reinsurer, or guarantor in any
Coverage, whether as a party or successor to a
contract providing Coverage or as an agent for the
administration of Coverage.

2. The procedures set forth in this Agreement shall
apply only with respect to Coverage relating to
projects or activities registered with or otherwise
approved by the Government of Anguilla or to
projects with respect to which the party under
Coverage seeks to enter or has entered into a
contract with the Government of Anguilla, or any
agency or political subdivision thereof, involving
the provision of goods or services,

3. (a) If the Issuer makes payment to any party
under Coverage, the Government of Anguilla shall,
subject to the provisions of Paragraph 4 hereof,
recognize the transfer to the Issuer of any
currency, credits, assets, or investment on account
of which payment under such Coverage is made as well
as the succession of the Issuer to any right, title,
claim, privilege, or cause of action existing, or
which may arise, in connection therewith,

(b) The Issuer‘shall assert no greater rights
than those of the transferring party under Coverage
with respect to any interests transferred or
succeeded to under Paragraph 3. Nothing in this
Agreement shall limit the right of the Government
of the United States of America to assert a claim
under international law in its sovereign capacity,
as distinct from any rights it may have as Issuer.

(¢) The issuance of Coverage outside of
Anguilla with respect to a project or activity in
Anguilla shall not subject the Issuer to regulation
under the laws of Anguilla applicable to insurance
or financial organizations.

{d) Punds introduced or acquired in Anguilla
or withdrawn from Anguilla by the Issuer shall be
exempt from all taxes upon income, real Property or
sales, from customs duties, and from any other
similar taxes or levies in Anguilla,

4. To the extent that the laws of Anguilla
partially or wholly invalidate or Prohibit the
acquisition froma party under Coverage of any
interest in any property within the territory of
Anguilla by the Issuer, the Government of Anguilla


1. As used herein, the term "Coverage" shall refer to any
‘nvestment insurance, reinsurance or Buaranty which is issued in
accordance with this Agreement by OPIC, by any successor agency of
the United States of America or by any other entity or Sroup of
entities, pursuant to arrangements with OPIC or any successor
agency, all of whom are hereinafter deemed included in the term
"Issuer" to the extent of their interest as insurer, reinsurer, or
guarantor in any Coverage, whether as a Party or successor to a
contract providing Coverage or as an agent for the administration of
Coverage.

2. The procedures set forth in this Agreement shall apply only with
respect to Coverage relating to Projects or activities registered
with or otherwise approved by the Government of Anguilla or to:
Projects with respect to which the party under Coverage seeks to
enter or has entered into a contract with the Government of
Anguilla, or any agency or politica! subdivision thereof, involving
the provision of goods or services,

3. (a) If the Issuer makes ‘payment to any party under Coverage,
the Government of Anguilla shall, subject to the provisions of
Paragraph 4 hereof, recognize the transfer to the Issuer of any
currency, credits, assets, or investment on account of which payment
under such Coverage is made as well as the succession of the Issuer
to any right, title, claim, Privilege, or cause of action existing,
or which may arise, in connection therewith,

(b) The Issuer shall assert no greater rights than those of the
transferring party under Coverage with respect to any interests -
transferred or succeeded to under Paragraph 3. Nothing in this
Agreement shall limit the right of the Government of the United
States of America to assert a claim under international law in its
sovereign capacity, as distinct from any rights it may have as Issuer.


(c) The issuance of Coverage outside of Anguilla with respect
to a project or activity in Anguilla shal! not subject the Issuer to
regulation under the laws of Anguilla applicable to insurance or
financial organizations.

(d) Funds introduced or acquired in Anguilla or withdrawn from
Anguilla by the Issuer shall be exempt from all taxes Upon income, real
Property or sales, from customs duties, and from any other similar
taxes or levies in Anguilla.

4, To the extent that the laws of Anguilla Partially or wholly
invalidate or Prohibit the acquisition from a. party under Coverage
of any interest in any property within the territory of Anguilfa by
the Issuer, the Government of Anguilla shall permit such party ‘and
the Issuer to make appropriate arrangements pursuant to which such
interests are transferred to an entity permitted to own such
interests under the laws of Anguilla.

5. Amounts in the lawful currency of Anguilla, including credits
thereof, acquired by the Issuer by virtue of such Coverage shall be
accorded treatment by the Government of Anguilla no less favorable
as to use and conversion than the treatment to which such funds
would be entitled in the hands of the party under Coverage. Such
amounts and credits may be transferred by the Issuer to any person
or entity and upon such transfer shal! be freely available for use
by such person or entity in the territory of Anguilla.

6. (a) Any dispute between the Government of the United States of
America and the Government of the United Kingdom, including Anguilla,
regarding the interpretation of this Agreement or which, in the opinion
of one of the Governments, involves a question of public international
Jaw arising out of any project or activity for which Coverage has been
issued shal! be resolved, insofar as possible, through negotiations
‘between the Governments. If at the end of three months following
the request for negotiations the Governments have not resolved the
dispute by agreement, the dispute, including the question of whether
such dispute presents a question of public international law, shall
be submitted, at the initiative of either Government, to an arbitral
tribunal for resolution in accordance with Paragraph 6(b).

-~3-