Document ID: chunk:federal_register_of_legislation:C2020C00320:schedule:1:p26
Version: federal_register_of_legislation:C2020C00320
Segment Type: schedule
Provision Reference: sch 1 (pt 26/31)
Character Range: 68114–70930

upon by the parties. In the absence of agreement on the conciliator, the parties may jointly request either the Secretary‑General of the International Centre for Settlement of Investment Disputes (hereinafter called ICSID) or the President of the International Court of Justice to appoint a conciliator. The conciliation procedure shall terminate if the conciliator has not been appointed within ninety days after the agreement for recourse to conciliation.

 (c)  Unless otherwise provided in this Annex or agreed upon by the parties, the conciliator shall determine the rules governing the conciliation procedure and shall be guided in this regard by the conciliation rules adopted pursuant to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States.

 (d)  The parties shall cooperate in good faith with the conciliator and shall, in particular, provide him with all information and documentation which would assist him in the discharge of his functions; they shall give their most serious consideration to his recommendations.

 (e)  Unless otherwise agreed upon by the parties, the conciliator shall, within a period not exceeding one hundred and eighty days from the date of his appointment, submit to the parties a report recording the results of his efforts and setting out the issues controversial between the parties and his proposals for their settlement.

 (f)  Each party shall, within sixty days from the date of the receipt of the report, express in writing its views on the report to the other party.

 (g)  Neither party to a conciliation proceeding shall be entitled to have recourse to arbitration unless:
 (i) the conciliator shall have failed to submit his report within the period established in Section (e) above; or
 (ii) the parties shall have failed to accept all of the proposals contained in the report within sixty days after its receipt; or
 (iii) the parties, after an exchange of views on the report, shall have failed to agree on a settlement of all controversial issues within sixty days after receipt of the conciliator's report; or
 (iv) a party shall have failed to express its views on the report as prescribed in Section (f) above.

 (h)  Unless the parties agree otherwise, the fees of the conciliator shall be determined on the basis of the rates applicable to ICSID conciliation. These fees and the other costs of the conciliation proceedings shall be borne equally by the parties. Each party shall defray its own expenses.

Article 4.   Arbitration

 (a)  Arbitration proceedings shall be instituted by means of a notice by the party seeking arbitration (the claimant) addressed to the other party or parties to the dispute (the respondent). The notice shall specify the nature of the dispute, the relief sought and the name of