|
Art.10 |
Article 10 |
|
Art.10.1 |
1. Any dispute concerning the interpretation or application of this Agreement which cannot be settled by negotiation, conciliation or other peaceful means may be referred by any Party thereto to the Governing Council. |
|
Art.10.2 |
2. Where the Parties fail to settle the dispute the matter shall be submitted to an arbitral body. |
|
Art.10.3 |
3. The Parties to the dispute shall appoint one arbitrator each; the arbitrators so appointed shall designate, by mutual consent, a neutral arbitrator as Chairperson who shall not be a national of any of the Parties to the dispute. |
|
Art.10.4 |
4. If any of the Parties does not appoint an arbitrator within three months of the appointment of the first arbitrator, or if the Chairperson has not been designated within three months of the matter being referred to arbitration, the Chairperson of the Governing Council shall designate the arbitrator or the Chairperson or both, as the case may be, within a further period of three months. |
|
Art.10.5 |
5. The arbitral body shall have jurisdiction to hear and determine any matter arising from a dispute. |
|
Art.10.6 |
6. The arbitral body shall determine its own rules of procedure. |
|
Art.10.7 |
7. The Parties to the dispute shall be bound by the arbitral decision. |
