647/1992 Sb.
The COMMUNICATION FROM the
the Federal Ministry of Foreign Affairs
The Federal Ministry of Foreign Affairs communicates the 12 October. December
1990 in Prague was signed an agreement on mutual protection and promotion of
investment between the Czech and Slovak Federative Republic of Brazil and the Spanish
Kingdom of the Netherlands.
With the agreement have expressed their approval of the Federal Assembly of the Czech and Slovak
The Federal Republic and the President of the Czech and Slovak Federal
The Republic has ratified it.
Agreement entered into force, pursuant to article 12 on 28 March 2007.
November 1991.
The Czech version of the agreement shall be published at the same time.
The AGREEMENT
on mutual promotion and protection of investments between the Czech and Slovak
Federative Republic of Brazil and the Kingdom of Spain
Czech and Slovak Federal Republic and the Kingdom of Spain,
"the Contracting Parties"
Desiring to intensify economic cooperation to the mutual benefit of
of both States,
in an effort to create favorable conditions for investments made by
investors of each Contracting Party in the territory of the other Contracting Party,
Recognizing that the promotion and protection of investments in accordance with this
The agreement will contribute to business in this area,
have agreed upon the following:
Article 1
Definition of terms
For the purposes of this agreement:
1. The term "investment" means every kind of asset invested in accordance with the
the laws of the receiving party, and in particular, but not
exclusively:
a) movable and immovable property, as well as any other rights (such as
are mortgages, guarantees, rights of use and similar rights), related to
any kind of assets,
(b)) the rights arising from shares, bonds and other forms of participation in
private or public companies, from a fixed or variable annuities,
business and financial loans, capitalized or
nekapitalizovaných,
(c)) financial claims, the right to financial performance or cash in
cash, other assets, or any dose having economic
the value of the,
d) industrial rights, trademarks and other rights of the area
intellectual property, as well as the goodwill and know-how,
(e)) the economic concessions, arising from law or the contract, including
those that have the goal of exploration, cultivation, extraction or use of
of natural resources.
2. the term "investors" means:
a) natural persons who are
a. a) where Spanish investors is located in Spain, in accordance with the
the Spanish legal order,
and b) in the case of the Czechoslovak investors have citizenship of the Czech and
Slovak Federal Republic;
(b)) legal persons, including companies and other organizations that have been
duly constituted in accordance with the law of one of the Contracting Parties and have
its registered office on the territory of that Contracting Party.
3. the term "investment" means the amounts derived from the investment,
in particular, but not exclusively, profits, interest, capital gains,
dividends, license and other fees.
4. The term "territory" refers to the land territory of each Contracting Party,
as well as the exclusive economic zone and the continental shelf, which is
extend beyond the territorial waters of each party and on
which are or may exercise, in accordance with international law,
jurisdiction and sovereign rights in the fields of exploration, mining and the protection of
of natural resources.
Article 2
Support
Each Contracting Party shall promote investment options,
carried out in its territory by investors of the other party, and these will be
investment permit in accordance with their national law.
Article 3
The protection of the
1. Each Contracting Party shall in its territory to protect the investment
made by investors of the other Contracting Party in accordance with its legal
regulations and will not pose barriers to unauthorized or discriminatory
management measures, holding, use, use, distribution, sale and
the eventual disposal of such investments.
2. Each Contracting Party shall issue the necessary permits, concerning the
investment and services and related activities and to
accordance with its legal structure, the implementation of license agreements and contracts for the
technical and any other assistance.
3. the Contracting Parties shall, in accordance with its legal structure, positively
to assess an application for entry and residence permit, work and movement, which
submit to the citizens of one party because of an investment in the territory of or in
the coastal zone of the other party.
Article 4
Treatment
1. each Contracting Party shall ensure that within its territory investments made by
investors of the other Contracting Party fair and equal treatment.
2. this treatment no less favourable than the treatment accorded to
Each Contracting Party in its territory investments made by investors
from any third country.
3. The provisions of paragraph 2 shall not apply to benefits that one
Contracting Party provides investors with a third State in respect of:
and) involving the participation of one party in the Economic Union, a Customs Union, zone
free trade or international economic groupings,
(b)) with the agreement on avoidance of double taxation or any other agreement
tax issues.
4. the Above provisions of paragraph 2 of this article shall provide each Contracting
party in accordance with its legal structure, the investments of investors of the other
the Contracting Party treatment no less favourable than the treatment accorded to
private investors.
Article 5
Nationalisation and expropriation
Nationalization, expropriation, or any other measures having similar
the effects of that could take the authorities of one Contracting Party to
investments of investors of the other Contracting Party in its territory, may
perform exclusively for reasons of public interest and on the basis of the law and in the
no case will not be discriminatory. Contracting Party which accepts
such measures shall be paid to the investor or owner's rights
adequate compensation in convertible currency, without undue
the delay.
Article 6
Conversions
1. each Contracting Party shall facilitate the investors of the other party, if
as to the investments made in its territory, freely transferable yields from
These investments and other payments associated with them, and especially, not
However, exclusively:
-income from investments, as defined in article 1 of this agreement;
-the compensation referred to in article 5 of this agreement;
-the proceeds of the total or partial sale or liquidation of the investment;
-salaries, wages and other remuneration received by citizens of one party
having the appropriate work permits the other party in relation to the
investment.
2. transfers shall be made in freely convertible currencies.
3. the Contracting Party receiving the investment will allow the investor the other
the Contracting Party or the company, which is involved in a non-discriminatory
in the manner and under the same conditions as local companies without
foreign participation access to the official foreign exchange market for the purpose of obtaining
foreign exchange necessary for the realization of transfers, secure this article.
4. Transfers shall take place without the fees, once an investor meet tax
the obligations imposed on the applicable law of the Contracting Party which is
the recipient of the investment.
5. the Contracting Parties undertake to coordinate so that these transfers were
carried out without excessive delays and restrictions. In particular, it must not pass
from the day when the investor presented requests for implementation needed
the conversion time is longer than three months for an effective implementation of this
the conversion. Therefore, each Contracting Party undertakes that the necessary formalities,
both in terms of purchase of foreign exchange, as for their effective transfer to
abroad, will meet before the above deadline.
Article 7
More favourable conditions
This agreement will be without prejudice to more favourable terms agreed upon once the
of the parties with the investors of the other party.
Article 8
The principle of subrogation
In the case that one party shall provide any financial guarantee
the non-commercial risks related to the investment made by the investor
This Contracting Party in the territory of the other Contracting Party, this recognizes the application of
the principle of subrogation of the first Contracting Party, as regards the rights
the investor, from the moment when the first payment on account
provided, without breach of the legislation on foreign
investments of the Contracting Party in whose territory the investment is made.
Article 9
Disputes between the Contracting Parties
1. any dispute between the Contracting Parties concerning the interpretation or application of this agreement
will, if possible, resolved in an amicable way.
2. If the dispute cannot be settled in this way, within six months from the
the opening of negotiations, will be presented at the request of one of the Contracting Parties
a Court of arbitration.
3. the arbitral tribunal shall be appointed as follows: each Contracting Party shall appoint
one arbitrator and the two arbitrators shall select the third country as a citizen
Chairman. The arbitrators will be determined within three months and the Chairman within five months
the date on which either Contracting Party has notified the other party in
of its intention to submit the dispute to an arbitral tribunal.
4. If one of the parties has not designated its arbitrator within the prescribed
the time limit, the other party may request the Secretary-General of the
The United Nations, to make the appointment. In the case that
the two arbitrators cannot agree on the appointment of the third arbitrator within the prescribed
period, any Contracting Party will be able to turn on the
the United Nations Secretary-General, to make this appointment.
5. the arbitral tribunal shall decide on the basis of respect for the law, the provisions of
of this agreement or other applicable agreements between the Contracting Parties and to the
the basis of the generally recognized principles of international law. Their procedural
the Court shall lay down the rules before the start of the arbitration. The Court decides
a majority of votes, and its decisions are final and binding on both Contracting
party.
6. each Contracting Party shall pay the expenses of its own arbitrator and the expenses
related to its representation in the arbitral proceedings. Other expenses,
including the expenses of the President, shall be reimbursed by the two parties equally.
Article 10
Disputes between one Contracting Party and investors of the other Contracting Parties
1. disputes between one Contracting Party and an investor of the other party
will be notified in writing by the investor of that Contracting Party to the party
receiving the investment, including a detailed justification. If
possible, the parties will seek to resolve such dispute amicably.
2. If it is not possible to resolve these disputes in this way within six
months from the date of the written notice referred to in paragraph 1, it shall refer the dispute
the choice of the investor:
-the Court of arbitration in accordance with the rules of the Arbitration Court of the Stockholm
Chamber of Commerce,
-International Chamber of Commerce Court of arbitration in Paris,
-Court of arbitration "ad hoc", established under the arbitration rules of the Commission
The UNITED NATIONS for international commercial law,
-The International Centre for settlement of investment disputes (ICSID) set up
Convention on the settlement of investment disputes between States and nationals of other States,
signed at Washington, on 18 July 2005. March 1965, if each Contracting
party to this Convention.
3. The arbitration procedure is based on:
-the provisions of this Agreement,
-the legal order of the Contracting Parties in dispute, in whose territory the investment is
located, including its conflict of laws rules,
-the provisions of other agreements negotiated by the parties.
4. decisions taken in arbitration are final and binding for the
Parties to the dispute. Each Contracting Party undertakes to execute the decision in
accordance with its legal system.
Article 11
Retroactivity
This agreement shall also apply to investments of investors of one Contracting
the parties made on the territory of the other Contracting Party in accordance with its
the legal order, and that before the entry into force of this agreement, from the date of
January 1, 1950.
Article 12
Entry into force
Each Contracting Party shall notify the other Contracting Party meet
constitutional formalities required in its territory for the entry of this agreement
into force. This agreement shall enter into force on the later of the two
the notification.
Article 13
The period of validity
This agreement is valid for an initial period of ten years and will be tacitly
always lengthen by two years.
Article 14
Notice of termination
1. each Contracting Party may denounce this agreement by written notification,
and it six months before its expiry date.
2. in the event of termination of this agreement, its provisions will be used
for a period of ten years for investments made prior to the date of the written
notice of dismissal.
Given in Madrid on June 12. December 1990 in two original copies,
every in Czech and Spanish, both texts being equally
force.
For the Czech and Slovak Federal Republic:
Jiří Dienstbier v.r.
Deputy Prime Minister and Minister of Foreign Affairs of CZECHOSLOVAKIA
For the Kingdom of Spain:
Francisco Fernando Ordoňez v.r.
Minister for Foreign Affairs of the Kingdom
