Document ID: chunk:federal_register_of_legislation:C2004A00868:schedule:6:p8
Version: federal_register_of_legislation:C2004A00868
Segment Type: schedule
Provision Reference: sch 6 (pt 8/13)
Character Range: 22348–25262

trade and economic transactions.

Article 15
Settlement of Disputes

    1. The Parties, if necessary, shall hold consultations on matters pertaining to the interpretation and implementation of this Agreement. The Parties shall seek to resolve any dispute between them concerning the interpretation and implementation of this Agreement through prompt and amicable negotiations and consultations, including through diplomatic channels.

    2. Disputes between Competent Agencies or between departments, agencies and organisations referred to in Article 3.2 of this Agreement shall be referred, for joint consideration, to the senior executives of respectively, Competent Agencies, and these departments, agencies and organisations or their plenipotentiaries, who should make all efforts to resolve the dispute by consensus. Within the framework of the procedure provided for in this paragraph, disputes may be referred to settlement through conciliation with the purpose of achieving agreement or drafting findings or recommendations on all matters of facts and law pertaining to the issue.

    3. If a dispute has not been settled by means of procedures envisaged in paragraph 1 of this Article within six months after one of the Parties forwards a written request to hold such negotiations or consultations, it shall, upon request of either Party, be submitted to an Arbitral Tribunal which shall be established in accordance with the provisions of this Article.

    4. An Arbitral Tribunal shall be constituted for each individual case in the following way:
       a) within two months of the receipt of the request for consideration of the dispute by arbitration, each Party shall appoint an arbitrator. Those two arbitrators shall then select a national of a third country who, on approval by the two Parties, shall be appointed Chairman of the Arbitral Tribunal. The Chairman shall be appointed within two months from the date of appointment of the other two arbitrators;
       b) in case an arbitrator appointed as provided for in this Article shall resign or become unable to act, a successor arbitrator shall be appointed in the same manner as prescribed for the appointment of the original arbitrator and the successor shall have all the powers and duties of the original arbitrator.

    5. If, within the period specified in paragraph 4 of this Article, the necessary appointments have not been made, either Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make all necessary appointments. If the President is a national of the State of either Party or is unable to discharge the said function, the next most senior Member of the Court who is not disqualified on such a ground shall make the necessary appointments.

    6. The Arbitral Tribunal shall decide all questions relating to its competence and shall, subject to the agreement