Section 139p. 139

PUBLIC INTERNATIONAL LAW COMPENDIUM VOLUME II

arbitral

tribunal

in

fixing

its

fees

shall

take

such

information into account to the extent that it considers

appropriate in the circumstances of the case.

4. In cases referred to in paragraphs 2 and 3, when a party

so requests and the appointing authority consents to

perform the function, the arbitral tribunal shall fix its fees

only after consultation with the appointing authority

which may make any comment it deems appropriate to

the arbitral tribunal concerning the fees.

ARTICLE 40

Costs

1.

Except

as

provided

in paragraph 2, the costs of

arbitration shall in principle be borne by the unsuccessful

party. However, the arbitral tribunal may apportion each

of such costs between the parties if it determines that

apportionment is reasonable, taking into account the

circumstances of the case.

2. With respect to the costs of legal representation and

assistance referred to in article 38, paragraph (e), the

arbitral tribunal, taking into account the circumstances of

the case, shall be free to determine which party shall bear

such costs or may apportion such costs between the

parties if it determines that apportionment is reasonable.

3. When the arbitral tribunal issues an order for the

termination of the arbitral proceedings or makes an

award on agreed terms, it shall fix the costs of arbitration

referred to in article 38 and article 39, paragraph 1, in the

text of that order or award.

4. No additional fees may be charged by an arbitral

tribunal for interpretation or correction or completion of

its award under articles 35 to 37.

ARTICLE 41

Deposit Of Costs

1. The arbitral tribunal, on its establishment, may request

each party to deposit an equal amount as an advance for

the costs referred to in article 38, paragraphs (a), (b) and

(c).

2. During the course of the arbitral proceedings the

arbitral tribunal may request supplementary deposits

from the parties.

3. If an appointing authority has been agreed upon by the

parties or designated by the Secretary-General of the

Permanent Court of Arbitration at The Hague, and when

a

party

so

requests

and

the

appointing

authority

consents to perform the function, the arbitral tribunal

shall fix the amounts of any deposits or supplementary

deposits only after consultation with the appointing

authority which may make any comments to the arbitral

tribunal which it deems appropriate concerning the

amount of such deposits and supplementary deposits.

4. If the required deposits are not paid in full within thirty

days after the receipt of the request, the arbitral tribunal

shall so inform the parties in order that one or another of

them may make the required payment. If such payment

is

not

made,

the

arbitral

tribunal

may

order

the

suspension or termination of the arbitral proceedings.

5. After the award has been made, the arbitral tribunal

shall render an accounting to the parties of the deposits

received and return any unexpended balance to the

parties.

(United Nations Commission on International Trade Law

(UNCITRAL) Arbitration Rules, [December 15, 1976])

Convention on the Settlement of

Investment Disputes between States

and Nationals of Other States

March 18, 1965

CONVENTION ON THE SETTLEMENT OF INVESTMENT

DISPUTES BETWEEN STATES AND NATIONALS OF

OTHER STATES *

PREAMBLE

The Contracting States

Considering the need for international cooperation for

economic

development,

and

the

role

of

private

international investment therein;

Bearing in mind the possibility that from time to time

disputes may arise in connection with such investment

between

Contracting

States

and

nationals

of

other

Contracting States;

Recognizing that while such disputes would usually be

subject to national legal processes, international methods

of settlement may be appropriate in certain cases;

Attaching particular importance to the availability of

facilities for international conciliation or arbitration to

which

Contracting

States

and

nationals

of

other

Contracting States may submit such disputes if they so

desire;

Desiring to establish such facilities under the auspices of

the

International

Bank

for

Reconstruction

and

Development;

Recognizing

that

mutual consent by the parties to

submit such disputes to conciliation or to arbitration

through such facilities constitutes a binding agreement

which requires in particular that due consideration be

given to any recommendation of conciliators, and that

any arbitral award be complied with; and

Declaring that no Contracting State shall by the mere fact

of

its

ratification,

acceptance

or

approval

of

this

Convention and without its consent be deemed to be

under any obligation to submit any particular dispute to

conciliation or arbitration,

Have agreed as follows:

CHAPTER I International Centre for Settlement

of Investment Disputes

SECTION 1 Establishment and Organization

ARTICLE 1

(1) There is hereby established the International Centre for

Settlement of Investment Disputes (hereinafter called the

Centre).

(2) The purpose of the Centre shall be to provide facilities

for conciliation and arbitration of investment disputes

between

Contracting

States

and

nationals

of

other

Contracting States in accordance with the provisions of

this Convention.

ARTICLE 2

The seat of the Centre shall be at the principal office of

the

International

Bank

for

Reconstruction

and

Development (hereinafter called the Bank). The seat may

be

moved

to

another

place

by

decision

of

the

Administrative

Council

adopted

by

a

majority

of

two-thirds of its members.

ARTICLE 3

The Centre shall have an Administrative Council and a

Secretariat and shall maintain a Panel of Conciliators and

a Panel of Arbitrators.

SECTION 2 The Administrative Council

ARTICLE 4

(1) The Administrative Council shall be composed of one

representative of each Contracting State. An alternate

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