Publication: Magyar Közlöny
Issue: MK-2005-173 (Year: 2005, Number: 173)
Era: 2004-2010
Section: 
Paragraph Index: 25

2. Any such dis pu te which has not been ami cably sett led wit hin a pe ri od of six months may be sub mit ted: (a) at the cho i ce of the in ves tor for re so lu ti on, in ac cor dan ce with the laws of the Cont rac ting Party in who se ter ri to ry the in vest ment has been made to that Cont rac ting Party’s com pe tent ju di ci al, ar bit ral or ad mi nist ra ti ve bo di es; or (b) if both par ti es to the dis pu te so ag ree and both Cont rac ting Par ti es are par ti es to the Con ven ti on on the Sett le ment of In vest ment Dis pu tes bet we en Sta tes and Na ti o nals of ot her Sta tes, 1965, and the in ves tor con sents in wri ting to sub mit the dis pu te to the In ter na ti o nal Cent re for the Sett le ment of In vest ment Dis pu tes, such a dis pu te shall be re fer red to the Cent re; or (c) to an ad hoc ar bit ral tri bu nal by eit her party to the dis pu te in ac cor dan ce with the Ar bit ra ti on Ru les of the Uni ted Na ti ons Com mis si on on In ter na ti o nal Tra de Law, 1976, sub ject to the fol lo wing mo di fi ca ti ons: (i) The ap po in ting aut ho rity un der Ar tic le 7 of the Ru les shall be the Pre si dent, the Vi ce-Pre si dent or the next se ni or Jud ge of the In ter na ti o nal Co urt of Jus ti ce, who is not a na ti o nal of eit her Cont rac ting Party. The third ar bit ra tor shall not be a na ti o nal of eit her Cont rac ting Party. (ii) The par ti es shall ap po int the ir res pec ti ve ar bit ra tors wit hin two months. (iii) The ar bit ral award shall be made in ac cor dan ce with the pro vi si ons of this Ag re e ment and shall be bin ding for the par ti es in dis pu te. Article 10 Disputes between the Contracting Parties

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