3

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. In all other matters, the arbitral
tribunal shall regulate its own precedures.

(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
claim, be submitted to negotiation. If at the end of three months
following the request for negotiations the two Governments have not
resolved the claim by mutual agreement, the claim, including the ques-
tion of whether it presents a question of public international law, shall
be submitted for settlement to an arbitral tribunal selected in accord-
ance with paragraph (a) above. The arbitral tribunal shall base its
decision exclusively on the applicable principles and rules of public
international law. 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 a 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
those guaranties, in no case longer than twenty years, after the denun-
ciation of the agreement.

8. This Agreement shall enter into force on the date of the Note by
which the Host Government communicates to the Guaranteeing Gov-

ernment that the Agreement has been approved in conformity with the
Host Government’s constitutional procedures. [7]

Doyr, in duplicate, at Belize City this Sth day of February, 1966 in
the English language.

For the Government of the United States
of America
Rovere Terrer

Robert J. Tepper, Consul of the United
States of America

For the Government of British Honduras
or Belize
Grorce Price
Tho Honorable George Price

Premier and Minister of Finance
and Economic Development

* Feb. S, 1966.
TIAS 5983

U.S. GOVERNMENT PRINTING OFFICE:I96


2

currency, credits, assets, or investment on account of which payment
under such guaranty is made as well as the succession of the Guar-
anteeing 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 plirsuant to which
such interests are transferred to an‘entity permitted to own such
interests under the laws of the Host Government. The Guaranteeing
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 para-
graph 3. 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 shall be accorded treatment neither less nor more favorable
than that accorded to funds of nationals of the Guaranteeing Govern-
ment deriving froni’ 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 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 Governments.
If such a ditference cannot be resolved within a period of three months
following the request for such negotiations, it shall be submitted, 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 law. The. arbitral tribunal shall be established
as follows: 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 Govern-
ments. The arbitrators shall be appointed within two months and the
President within three months of the date of receipt of either Govern-
ment’s request for arbitration. If the foregoing time limits are not
met, either Government may, in the absence of any other agreement,
request the President of the International Court of Justice to make
the necessary appointment or appointments, and both Governments
agree to uccept such appointment or appointments. The arbitral tri-
bunal shall decide by majority vote. Its decision shall be binding.
Each of the Governments shall pay: the expense of its member and its

TLAS 5983


TREATIES AND OTHER INTERNATIONAL ACTS SERIES 5983

INVESTMENT GUARANTIES

Agreement Between the
UniTED States oF AMERICA

and Britisu Honpuras (Berize)

Signed at Belize February 8, 1966



Please Quote:

@ 8556(4)

OFFICE OF THE PREMIER,
Belize City,
British Honduras (or Belize)

Central America,

8th February, 1966,

Sir,

I have the honour to acknowledge the receipt of your
Hote dated the 8th February, 1966 along with the agreed text,
in triplicate, of an Investment Guarentee Agreement between
the Government of the United States of america and the
Government of British Honduras or Belize,

T am to inform you in accordance with paragraph 8
thereof, that the Agreement bas been approved in conformity
with the constitutional procedures of the government of this
country.

I return the duplicate herewith duly signed,

@ Accept, Sir, the assurance of 7: consideration.

GEORGE PRICE

Premier & Minister of Finance
and Economic Development

Mr, Robert J, Tepper,
Consul of the United States of America,
The B, 8, Consulate,
Belize City.


BRITISH HONDURAS |

Investment Guaranties

Agreement signed at Belize February 8, 1966; :
Entered into force February 8, 1966.

TEXT OF THE AGREEMENT BETWEEN THE GOVERNMENTS
OF THE UNITED STATES OF AMERICA AND BRITISH
HONDURAS OR BELIZE RELATING TO UNITED STATES
GOVERNMENT INVESTMENT GUARANTIES. 7

Agreement signed at Belize City, February S, 1966
Entered into force February 8, 1966

INVESTMENT GUARANTEE AGREEMENT

The Government of the United States of America (the “Guarantee-
ing Government”) and the Government of British Honduras or Belize
(the “Host Government”), with the consent of Her Majesty’s Govern-
ment in the United Kindgom ;

Seeking to encourage private investments in projects which. will
contribute to the development of the Host Country’s economic re:
sources 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 Agreement
in a project or activity within the territorial jurisdiction of the Host
Government, the two Governments shall, upon the requést of cither,
consult respecting the nature of the project or activity and its contri-
bution to economic and social development of the Host Country.

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

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 para-
graph, recognize the transfer to the- Guaranteeing Government of aily

62-691—66 (Q) TIAS 5983

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