3

claim, be subinitted to negotiations, Tf at. the end of dhrec months
following the request for negotiations the two Governments have not:
resolved the chum by muiial agreement, the chia, including the
question of whether it. presents a question of public international law,
shall be submitted for settlement to an arbitral tribunal selected in
‘accordance with paragraph (a) above. The arbitral tribunal shall base
its decision exclusively on the applicable principles and rules of public
international 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 dura-
tion of those guaranties, in no case longer than twenty years after the
denunciation of the Agreement.

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

Ix witness wuercor the respective representatives, duly authorized
for the purpose, have signed the present Agreement.

Doxe at Bridgetown, Barbados, in duplicate, this 11th day of
March 1968.

FOR THE GOVERNMENT OF THE YOR THE GOVERNMENT
ITED STATES OF AMERICA: OF BARBADOS:
Frepric R. Mann Erxot W. Barrow
Ambassador of the United States Prime Minister and Minéster of
of America External Affairs
TIAS 6463

U.S, GOVERNMENT PRINTING OFFICE: 1968


such interests are transferred to an entity permitted to own such
interests under the laws of the Host Government. The Guaranteci
Government, shall assert. no greater rights than those of the trans
ferring investor under the laws of the Host Government with respect
to any interests transferred or succeeded to as contemplated in par:
graph 38. The Guaranteeing Government. does, 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 international law.

5, Amounts in the lawful currency of the Host. Government and
credits thereof acquired by the Guaranteeing Government under such
guaranties shal] be accorded treatment neither less nor more favorable
than that accorded to funds of nationals of the Guaranteeing Govern-
ment deriving from investment activities like those in which the
investor has been engaged, and such amounts and credits shall be
freely available to the Guaranteeing Government to meet its expendi-
tures 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 hoc arbitral
tribunal for settlement in accordance with the applicable principles
and rules of public international Jaw, The arbitral tribunal shall be
established as follows: Each Government shall appoint one arbitrator;
these two arbitrators shaJ] 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 foregoing time Jimits 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 appointments, and both Govern-
ments agree 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 ex-
penses of the President and the other costs shall be paid in equal parts
by the two Governments. The arbitral tribunal may adopt other regula-
tions concerning the costs. In all other matters, the arbitral tribunal
shall regulate its own procedures.

(b) Any claim, arising out of investments guaranteed in accord-
ance with this Agreement, against either of the two Governments,
which, in the opinion of the other, presents a question of public inter-
national law shall, at the request of the Government presenting the

TIAS 6463


TREATIES AND OTHER ENPEMNATIONAL ACTS SERIES 6162

INVESTMENT GUARANTIES

Agreement Between the
Unirep Stares OF AMERICA
and BarBapos

Signed at Bridgetown March 11, 1968



NOTE BY THE DEPARTMENT OF STATE

Pursuant to Public Law 89-497, approved
July 8, 1966 (80 Stat. 271; 1 U.S.C. 113)—

“, the Treaties and Other International Acts
Series issued under the authority of the Secretary of
State sball 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. Government Printing Office
Washington, D.C. 20402 - Price 5 cents


BARBADOS

Investment Guaranties

Agreement signed at Bridgetown March 11, 1968;
Entered into force March 11, 1968.

INVESTMENT GUARANTY AGREEMENT

The Government of the United States of America (the “Guaran-
teeing Government”) and the Government of Barbados (the “Host
Government”) ;

Seeking to encourage private investments in projects which will
contribute to the development of Barbados’ economic resources and
productive capacities through investment guaranties issued by the
Guaranteeing Government,

Have agreed as follows:

1. When nationals of the Guaranteeing Government propose to
invest 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 or activity and its
contribution fo economic and social development in Barbados.

2, The procedures set forth in this Agreement shall apply only with
respect to guaranteed investments in projects or activities approved
by the Host Govermment. :

3: If the Guaranteeing Government makes payment to any investor.
under a guaranty issued pursuant to the present Agreement, the Host
Government shall, subject to the provisions of the following paragraph,
recognize the transfer to the Guaranteeing Government of any cur-
rency, credits, assets, or investment on account of which payment under
such guaranty is made as well as the succession of the Guaranteeing
Government to any right, title, claim, privilege, or cause of action
existing, or which may arise, in connection therewith.

4, To the extent that the laws of the Host Government partially or
wholly invalidate the acquisition of any interests in any property
within its national territory by the Guaranteeing Government, the
Host Government shall permit such investor and the Guaranteeing
Government to make appropriate arrangements pursuant to which

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(a) TIAS 6463