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Art.18 |
Article 18 |
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Art.18.1 |
1. Any dispute regarding the interpretation or application of this convention, if not settled by the parties or the Board shall be referred to an arbitration tribunal. |
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Art.18.2 |
2. The tribunal shall be composed of three persons: |
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Art.18.2.a |
(a) one person appointed by each party to the dispute; |
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Art.18.2.b |
(b) an independent chairman, appointed by the Board in consultation with the Parties to the dispute. |
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Art.18.3 |
3. In the event the Board determines that arrangements under paragraph 2 are impracticable, it shall appoint an independent person to establish the tribunal. |
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Art.18.4 |
4. (a) Unless the parties otherwise agree, the arbitration shall take place in a member country not party to the dispute. |
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Art.18.4.b |
(b) The applicable rules of procedure for the tribunal shall be those in force in the member country where the arbitration takes place. |
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Art.18.5 |
5. The decision of the tribunal shall be final and binding upon the parties to the dispute. |
