The Agreement On Investment Protection With Russia

Original Language Title: Dohoda o ochraně investic s Ruskem

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=44323&nr=201~2F1996~20Sb.&ft=txt

201/1996 Coll.



The COMMUNICATION FROM the



Ministry of Foreign Affairs



Ministry of Foreign Affairs says that on 5 December. April 1994 was in

Moscow signed an agreement between the Government of the Czech Republic and the Government of the Russian

Federation on the promotion and reciprocal protection of investments. With the agreement expressed

the consent of the Parliament of the Czech Republic and the President of the Republic has ratified it.



The agreement on the basis of article 13, paragraph 1. 1 entered into force on 6.

June 1996.



The Czech version of the agreement shall be published at the same time.



The AGREEMENT



between the Government of the United Kingdom and the Government of the Russian Federation for the promotion and

mutual protection of investments



The Government of the United Kingdom and the Government of the Russian Federation (hereinafter referred to as "the Contracting

The parties '),



Desiring to develop mutually beneficial economic cooperation,



intending to create favourable conditions for investments by investors of one

Contracting Party in the territory of the other Contracting Party,



Noting that the promotion and reciprocal protection of investments will be encouraged

entrepreneurial initiative in this area,



have agreed upon the following:



Article 1



The definition of the



For the purposes of this agreement:



1. the term "investor" means:



and any natural person having) the nationality of some of the

The Contracting Parties in accordance with its legal regulations;



(b)) to any legal person registered and operating in accordance with

the legal order of one of the Contracting Parties, which has a permanent seat on the

territory of that State,

with the condition that a natural or legal person, in accordance with the legal

the regulations of their State permission to invest in the territory of the other State.



2. the term "investment" refers to all types of assets that

investors of one Contracting Party in the territory of the other party shall be inserted

Party in accordance with its legal system in pursuit of the business

or other activity for profit, and includes, in particular, not

However, exclusively:



a) movable and immovable property, and the corresponding property rights;



(b)) shares, deposits and other forms of participation in companies and enterprises;



(c) rights of monetary claims) or obligations having economic

value;



(d)) intellectual property rights, including copyrights, the rights

of the inventions, industrial designs, marks, company names of production and also

technology, know-how, trade secrets and goodwill;



(e) the right to perform) any business or other activity

provided on the basis of laws or contracts, including in particular the right to

exploration, extraction and use of natural resources.

No change in the form in which assets are invested, will not be

have an effect on their status as investment.



3. The term "returns" means the amounts yielded from investments and includes

in particular, but not exclusively, profits, dividends, interest, income from

on the basis of the increase in value of an asset, a license and other rewards.



4. the term "territory" means the territory of the United States or the territory of the Russian

Federation and in relation to the Russian Federation also exclusive economic zone and

continental shelf, where the Russian Federation in accordance with international law

exercises sovereign rights and jurisdiction for the purpose of exploration, mining and

conservation of natural resources.



Article 2



The promotion and protection of investments



1. Each Contracting Party shall promote and create a favourable

conditions for investors of the other Contracting Party, to invest in its

territory, and will be in accordance with its legal structure, such investments

to acknowledge this.



2. each of the Contracting Parties in accordance with their legal systems,

State the full and unconditional legal protection of investments of investors of the other

The Contracting Parties.



3. Each Party will act on its national territory

investments of investors of the other Contracting Party fair and equitable

mode and will delay the adoption of unjustified or discriminatory

the measures, which could interfere with the Administration, use, ownership and

dispose of investments.



Article 3



Investment mode



1. Each Party shall provide in its national territory to investments

revenue and activities related to investments of investors of the other Contracting

The parties, treatment no less favourable than that accorded to its own

investors or to investors of any third State.



2. each of the States of the Contracting Parties reserves the right to determine, on the

the basis of their national legal systems, sectors and spheres of activity, in which the

excluded or limited the activities of foreign investors. Any new

an exception or limitation provided for by the State of a Contracting Party will not be applied

in relation to investments made in its territory by investors of the other

The Contracting Parties prior to the entry into force of this exception.



3. the MFN Clause granted in accordance with paragraph 1 of this

Article shall not apply to the benefits of that Contracting Party provides

or will provide in the future:



and) in connection with its participation in the free trade zone, customs or

Economic Union or agreement on regional economic cooperation;



(b)) as a result of the agreements between the Russian Federation and the States that were previously

part of the Union of Soviet Socialist Republics;



(c)) on the basis of agreements to avoid double taxation or other conventions

relating to taxation.



Article 4



Compensation for damage



The Contracting Party in whose territory the damage sustained by investments of investors of the other

The Contracting Parties as a result of war, armed conflict, civil

the riot, the introduction of a State of emergency or other similar

the event will provide these investors with regard to the restitution of property,

compensation or other settlement, a treatment no less favourable than those

shall provide the contracting party to its own investors or to investors

of any third State. Related payments must be

carried out without undue delay.



Article 5



The expropriation



1. investments of investors of one Contracting Party in the territory of the State will not be

the other Contracting Party one, nationalized or subjected to any other

measures having similar effects (hereinafter referred to as "expropriation"), except for

in cases where such measures are carried out in the public interest, in accordance

with the rule of law, on a non-discriminatory basis and are accompanied by a

payment of adequate and effective compensation. Payment of the refund must be

implemented without undue delay. Such compensation shall correspond to the

market value of the expropriated investment immediately before the expropriation

or before the intended expropriation became publicly known. Up to the

the time of payment of the refund will be credited to the value of the refund interest in

accordance with the interest rate established on a market basis and is valid for

the territory of the Contracting Party where the investment has been made.



2. The Investor whose investments are expropriated, shall have the right to request a

urgent review of their case by a judicial or other independent

authority acting in accordance with the laws of the State of the Contracting Party, the

whose territory the expropriation carried out, and also to evaluate their

investments in accordance with the principles contained in paragraph 1 of this article.



Article 6



Transfers associated with investments



1. each Contracting Party shall ensure to investors of the other Contracting Parties

payment of taxes and fees provided for the free transfer of payments related to

investments. Such transfers shall include in particular, but not exclusively:



and) capital and additional amounts to maintain or increase the investment;



(b)) yields as referred to in paragraph 3 of article 1 of this agreement;



(c) the amount of the repayment of loans) relating to investments;



(d)) the amounts received investors from the partial or total destruction or

the sale of the investment;



e) refund, as specified in articles 4 and 5 of this agreement;

f) wages and other remuneration of the citizens of the State of the other Contracting Party in accordance with the

laws of the State of the Contracting Party in whose territory they were made

investment.



2. transfer of the payments referred to in this article shall be carried out in freely

convertible currency. The payment will be used in the conversion conversion rate valid

to the date of the transfer in accordance with the foreign exchange regulations of the country of the Contracting Party,

on whose territory the investment is made.



Article 7



Assignment of rights



1. If a Contracting Party or its designated agency shall carry out

the payment of its own investor because of the guarantees, which was

given in relation to an investment in the territory of the other Contracting Party,

the other Contracting Party shall recognise the assignment of any right or claim

the investor, which was in accordance with the guarantee paid compensation, to this

Contracting Party or its authorized agency.



2. the Contracting Party or its designated agency obtains the right to exercise

any rights and claims to the same extent that they would be this right

granted to the investor.



Article 8



Settlement of investment disputes between a Contracting Party and an investor of the other Contracting

The parties



1. Any dispute between one Contracting Party and an investor of the other Contracting

Party arising in connection with the implementation of the investment, including disputes

related to the scope, conditions and manner of payment of the compensation,

will be dealt with, if possible, in the form of negotiations.



2. If such disputes can not be settled by way of negotiations during the

six months from the date of submission of the corresponding written application of the investor

one party to the other party, is an investor shall be entitled to

submit the dispute either:



and) the competent court or arbitral tribunal of the State of the Contracting Party,

on whose territory the investment is made;




(b) the International Centre) settlement of investment disputes (Centre),

If the Czech Republic and the Russian Federation are parties to the Convention on the

settlement of investment disputes between States and natural and legal persons

other States, signed in Washington, D. C. 18. March 1965 (Convention),

or by way of the use of the additional procedures the Centre where Czech

Republic or the Russian Federation are parties to the Convention;



(c) a Court of arbitration set up by) "ad hoc" in accordance with the arbitration rules of the Commission

The United Nations international trade law (UNCITRAL).



3. The arbitration award to the performance will be for the parties to the dispute to end and

binding.



Article 9



Consultation



Contracting Parties may, on a proposal from one of them to conduct consultations

on issues relating to the interpretation or application of this agreement.



Article 10



The resolution of disputes between the Contracting Parties



1. disputes between the Contracting Parties concerning the interpretation or application of this

the agreement will be resolved by negotiations. If the dispute is not resolved within the time limit as follows

six months, at the request of either contracting party be submitted

a Court of arbitration.



2. the arbitral tribunal shall be established separately for each specific case.

The Contracting Parties shall designate one member of the Court. Determination of the arbitrator then selects

a citizen of a third State, that will be with the consent of both Contracting Parties,

appointed Chairman of the Court. Members of the Court shall be appointed within the time limit

two months from the date on which one of the Contracting Parties shall notify the other Contracting

Written notice of intention to refer the dispute to the arbitration decision

the Court. The Chairman shall be appointed within three months from the date of the appointment of the two

the arbitrators.



3. If in any of the periods referred to in paragraph 2 of this article, shall

the necessary appointment, each Contracting Party may, if

There is no other agreement, request the President of the International Court of Justice,

to make the necessary appointment. If the President is a citizen of the State of some

The Contracting Parties, or for any other reason unable to exercise this mandate, the

the necessary appointment of Vice-President of the International Court of requested

the Court. If it is also Vice-Chair of the citizen of the State of a Contracting Party

or cannot perform this credential, it will be on the implementation of the necessary

the appointment of the following the oldest Member, asked the International Court of

the Court who is not a citizen of the State of any of the Contracting Parties.



4. the Arbitration Tribunal shall take decisions, which shall be binding, a majority of the votes.

Each Contracting Party shall pay the costs associated with the activities of their

the arbitrator. The costs associated with the activities of the President of the Court and other costs

will be borne by the parties equally. If this is a more

questions shall be determined by the arbitral tribunal's own rules rules.



Article 11



The use of other provisions



In the event that the provisions of other international agreements, to which they are parties

or will the Czech Republic and the Russian Federation, or if their

legal systems provides treatment more favourable than that which is contained in the

This agreement will be applied more favourable treatment.



Article 12



The applicability of this agreement



This agreement shall apply to investments made by investors of one

Contracting Party in the territory of the other party, starting with 1. January

1988.



Article 13



Entry into force, duration and termination of the agreement



1. this Agreement shall enter into force on the date of the last written notification of

fulfilment of constitutional requirements necessary for the entry by the Contracting Parties

The agreement enters into force.



2. this agreement is concluded for a period of ten years and after this period will be her

force continue until the expiry of 12 months from the date of receipt of

written notice of one party to the other party of its

intention to terminate the agreement.



3. for investments made before the expiry of this agreement,

the provisions of this agreement will remain effective for a period of ten years from the date of

termination of this agreement.



Done at Moscow on 5 July 2004. April 1994 in duplicate in the Czech, and

Russian languages, both texts being equally authentic.



For the Government of the United States:



Doc. Ing. Václav Klaus, CSc. v.r.



the Prime Minister



For the Government of the Russian Federation:



Viktor Stepanovich Chernomyrdin v.r.



the Prime Minister