About The Negotiation Of Investment Protection Agreements With Latvia

Original Language Title: o sjednání Dohody o ochraně investic s Lotyšskem

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Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=43190&nr=204~2F1995~20Sb.&ft=txt

204/1995 Sb.



The COMMUNICATION FROM the



Ministry of Foreign Affairs



Ministry of Foreign Affairs communicates, on 25 September 1995. October 1994 was in

Riga signed agreement between the Government of the Czech Republic and the Government of Latvia

Republic on the promotion and reciprocal protection of investments.



Parliament gave its assent to the agreement the United States and the President of the

the Republic has ratified it.



The agreement on the basis of article 12, paragraph 1. 1 came into force on 1 January 2000.

August 1995.



Czech text of the agreement shall be published at the same time. In the English text of the agreement,

for its interpretation of the applicable, can be consulted at the Ministry of

Foreign Affairs and the Ministry of finance.



The AGREEMENT



between the Government of the United Kingdom and the Government of the Republic of Latvia on the promotion and

mutual protection of investments



The Government of the United Kingdom and the Government of the Republic of Latvia (hereinafter referred to as "the Contracting

the parties '),



Desiring to intensify economic cooperation to the mutual

the benefit of both States,



intending to create and maintain favourable conditions for investments by investors

one State on the territory of the other State and



Noting that the promotion and reciprocal protection of investments in accordance with this

the agreement encourages entrepreneurial initiative in this area, have agreed

on the following:



Article 1



The definition of the



For the purposes of this agreement:



1. The term "investment" refers to each assets invested in

accordance with the economic activities of an investor of one Contracting Party to the

the territory of the other Contracting Party in accordance with the laws of the other Contracting

Parties and shall, in particular, but not limited to:



a) movable and immovable property, as well as all the rights in rem, such as

mortgages, pledges, guarantees and similar rights;



(b)) shares, bonds, deposits by the company or any other forms of participation

of the companies;



(c) the claim or claims) cash to any activity having

the economic value associated with an investment;



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

of the trade marks, patents, industrial designs, techniques,

know-how, trade secrets, trade names and goodwill associated with the

the investment;



e) rights arising from the law or from the contractual agreements, licenses and

the permit issued under the Act, including concessions for exploration, extraction,

the cultivation or use of natural resources.

Any change in the form in which the values are invested does not affect the

their status as investment.



2. the term "investor" means any natural or legal person,

that invests in the territory of the other Contracting Party.



and) the notion of "natural person" means any natural person having a

the nationality of either Contracting Party in accordance with its legal

of procedure.



b) "legal person" means, with regard to both parties

any company registered or established in accordance with its

jurisdiction and recognised as a legal person by law.



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

in particular, but not exclusively, profits, interest, capital gains,

shares, dividends, licensing or other fees.



4. the term "territory" means the territory of the United States and the territory of Latvia

States, including the territorial sea and the continental shelf,

over which the State exercises in accordance with international law

sovereign rights for the purpose of exploration and exploitation of the natural resources of the

such an area.



Article 2



The promotion and protection of investments



1. Each Contracting Party shall encourage and create favourable conditions

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

will admit such investments in accordance with its legal system.



2. investments of investors of one or the other party will always have

ensures the proper and fair treatment and will enjoy full protection and

safety on the territory of the other Contracting Party.



Article 3



National treatment and MFN clause



1. each Contracting Party shall in its territory for investments and returns

investors of the other Contracting Party treatment, which is the proper and fair

and no less favourable than that accorded to investments or the proceeds of their

its own investors or investments of investors of any proceeds or

of a third State, if it is more convenient.



2. each Contracting Party shall accord to investors of the other party within its territory

the parties, regarding the management, maintenance, use, recovery or

dispose of their investments, treatment which is the proper and fair

and no less favourable than that accorded to its own investors or

investors of any third State, if it is more convenient.



3. The provisions of paragraphs 1 and 2 of this article shall be interpreted so that the

one contracting party undertake to provide investors of the other Contracting

by such treatment, benefits or privileges, which may be one of the Contracting

page provide by:



and) a Customs Union or a free trade area or monetary Union or similar

international agreement, leading to such unions or institutions, or

other forms of regional cooperation, of which the Contracting Party is a

or it may be; or



(b)) the international agreement or arrangement relating wholly or mainly

taxation.



Article 4



Compensation for damage



1. If the investments of investors of one or the other party will suffer

damage as a result of war, armed conflict, a State of emergency,

the riot, insurrection, riot or other similar events on the territory of the

the other Contracting Party, that Contracting Party shall afford them treatment if

as for the restitution, damages, compensation or other settlement, no less

favourable than what the Contracting Party shall provide their own

investors or investors of third States.



2. Notwithstanding paragraph 1 of this article to the investors of a Contracting

the parties, who, during the events referred to in the preceding paragraph

suffered damage in the territory of the other Contracting Party of:



) and seize their assets, by the armed forces or by an

the other Contracting Party,



(b)) the destruction of their property by the armed forces or by the official authorities of the other

the Contracting Parties, which was not due to combat action or not

invoked when the necessity of the situation,

will be given fair and reasonable compensation for any damage suffered during the

grabbing or as a result of destruction of property. The resulting payments shall be without

late payment freely transferable in free convertible currency.



Article 5



The expropriation



1. Investments made by investors of one Contracting Party in the territory of the other

the Contracting Party shall not be expropriated, nationalized or subjected to measures

having a similar effect (hereinafter referred to as "expropriation"), except when the

the following conditions are met:



and the expropriation will be done in) the public interest and in accordance with national

legislation;



(b)) will not have a discriminatory character;



(c)) will be done only against payment of the immediate, adequate and effective

the refund.



2. Such compensation shall be equal to the market value of the expropriated investments

immediately before the expropriation or before the intended expropriation

became publicly known, will include interest from the date of expropriation,

carried out without delay, will be immediately realisable and freely

shall not be transferable in freely convertible currency.



3. The investor has the right to request an urgent review of its

the case and the assessment of its investments to the judicial or other independent

authority of a Contracting Party in accordance with the principles contained in this article.



4. The provisions of paragraphs 1 and 2 of this article shall also apply to cases

When a Contracting Party expropriates the assets of a company that has been

registered or established in accordance with the applicable laws and regulations in the

any part of its own territory, and in which investors of the other Contracting

the parties own shares.



Article 6



Conversions



1. the Contracting Parties shall ensure that the transfer payments related to investments and

revenue. Transfers will be made in freely convertible currency, without restrictions, and

unnecessary delay. Such transfers shall include, but not

exclusively:



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



(b)) gains, interest, dividends and other current income;



(c) the amount of the repayment of loans);



d) license or other fees;



e) proceeds from the sale or liquidation of the investment;



f) income of natural persons.



2. for the purposes of this agreement, will be used as the conversion rates of foreign exchange

Rates valid as of the date of the transfer.



Article 7



Assignment of rights



1. If a Contracting Party or its designated agency makes a

the payment of its own investor because of the guarantees given by the

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

page:



and each right or assignment) of the right of the investor to a Contracting Party

or her authorised agency, whether a transfer has occurred in accordance with the law or to the

the basis of the legal arrangements in this country, as well as,



(b)) that the Contracting Party or its designated agency is by way of referral

rights shall be entitled to exercise the rights and claims of the investor and to float

assume the commitments relating to the investment.



2. The assignee's rights or claims shall not exceed the rate of indigenous rights or

claims of the investor.



Article 8



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

the parties



1. any dispute which may arise between an investor of one Contracting

the parties and the other Contracting Party in connection with an investment in the territory of the


the other party will be subject to negotiations between the parties in dispute.



2. If a dispute between an investor of one Contracting Party and other Contracting

a party will not be settled as follows at the time of six months, the investor is entitled to

submit the dispute either:



and the International Centre for) settlement of investment disputes (ICSID)

taking into account the applicable provisions of the Convention on the settlement of investment disputes

between States and nationals of other States, opened for signature in Washington, D.

(C) 18. March 1965, in the event that the Contracting Parties are parties to the

Of the Convention; or



(b)) the arbitrator or to the International Court of arbitration set up by ad hoc,

nominated in accordance with the conciliation rules of the United Nations Commission

Nations for international trade law (UNCITRAL). The parties to the dispute

may in writing agree modifications to these rules. The arbitration award will be

final and binding to both parties in a dispute.



Article 9



The resolution of disputes between the Contracting Parties



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

the agreement will, if possible, resolved through consultations or

negotiations.



2. If the dispute cannot be resolved within a period of six months from the

opening the case, will, at the request of either contracting party be submitted

arbitration in accordance with the provisions of this article.



3. the arbitral tribunal shall be established for each individual case

in the following way. Within two months of receipt of the request for

arbitration, each Contracting Party shall designate one member of the arbitration

the Court. These two members then select a citizen of a third State, which will be

agreement of both parties appointed President of the Court (hereinafter referred to as

"the Chairman"). The Chairman shall be appointed within three months from the date of appointment

the other two members.



4. If, in one of the periods referred to in paragraph 3 of this article has not been

performed necessary appointment may be requested the President of the International

the Court of Justice to make the necessary appointment. If the President is a citizen of the

some of the Contracting Parties, or for any other reason unable to perform the operation,

the Vice-President will be called to carry out necessary appointment. If you also

Deputy Chairman of a citizen of either Contracting Party or is unable to do this

the Act will be to perform the necessary appointment asked the oldest Member of the

The International Court of Justice who is not a citizen of any of the Contracting Parties.



5. the arbitral tribunal adopts its decisions by majority vote. Such

the decision is binding. Each Contracting Party shall pay only the cost of your

arbitrator and its participation in the arbitration proceedings; the costs of the Chairman and other

the cost will be borne by the parties equally. The Court of arbitration

shall determine its own rules rules.



Article 10



The use of other provisions and specific commitments



1. in the event that there is some question dealt with at the same time this agreement and

another international agreement, the two Contracting Parties are parties, nothing

in this agreement does not prevent to any party or any of its

the investor who owns the investments on the territory of the other Contracting Party,

take advantage of any provisions that are more favourable for them.



2. If the treatment granted by either party to investors

the other Contracting Party in accordance with its legal regulations or other

special contractual provisions is more favourable than that

provided for in this agreement, will be used this more favourable treatment.



Article 11



The applicability of this agreement



The provisions of this Agreement shall be applicable to future investments made

an investor of one Contracting Party in the territory of the other Contracting Party and also on the

investments that exist as of the date of entry into force of this agreement.



Article 12



Entry into force, duration and termination



1. each Contracting Party shall notify the other party that meet the

national laws relating to the entry into force of this agreement. This

the agreement shall enter into force on the date of the second notification.



2. This agreement shall remain in force for a period of ten years and its validity

will continue until six months before the expiry of the initial period or

any following period one contracting party notifies the

the other Contracting Party of its intention to terminate the agreement.



3. For investments made prior to the termination of this Agreement shall remain

the provisions of this agreement are effective for a period of ten years from the date of their

the validity of.



In witness whereof the undersigned, duly authorised thereto, have signed this agreement.



Done at Riga, 25. October 1994 in duplicate in the Czech,

Latvian and English languages, all the texts are authentic. In the case of

any differences in interpretation, the English text will be decisive.



For the Government of the United States:



Ing. Ivan Kočárník, CSc. v. r.



Deputy Prime Minister and Minister of finance



For the Government of the Republic of Latvia:



Andris Piebalgs in r.



the Minister of finance