22 DE MARÇO DE 1997

450-(35)

6 — The arbitral tribunal shall rule according to majority vote. The decisions of the tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall be responsible for the costs of its own member and of its representatives at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the expenses incurred by the chairman, as well as any other expenses. The tribunal may make

a different decision regarding costs. In all other respects,

the tribunal court shall define its own rules of procedure. Article 9

Disputes between a Contracting Party and an investor of the other Contracting Party

1 — Any dispute which may arise between one Contracting Party and an investor of the other Contracting Party concerning an investment of that investor in the territory of the former Contracting Party shall be settled amicably through negotiations.

2 — If such dispute cannot be settled within a period of six months from the date of request for settlement, the investor concerned may submit the dispute to:

a) The competent court of the Contracting Party for decision; or

b) The International Center for the Settlement of Investments Disputes (ICSID) through conciliation or arbitration, established under the Convention on the Settlement of Investments Disputes between States and Nationals of other States, opened for signature in Washington, D. C, on March 18, 1965.

3 — Neither Contracting Party shall pursue through diplomatic channels any matter referred to arbitration until the proceedings have terminated and a Contracting Party has failed to abide by or to comply with the award rendered by the International Center for the Settlement of Investments Disputes.

4 — The award shall be enforceable on the parties and shall not be subject to any appeal or remedy other than that provided for in the said Convention. The award shall be enforceable in accordance with the domestic law of the Contracting Party in whose territory the investment in question is situated.

Article 10 Application of other rules

If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain a regulation, whether general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than is provided for by this Agreement, such provisions shall, to the extent that they are more favourable, prevail over this Agreement.

Article 11 ApplicaUon of the Agreement

This Agreement shall apply to all investments, made by investors from one of the Contracting Parties in the territory of the other Contracting Party in accordance vrith the respective legal provisions, prior to as well as

after its entry into force, but shall not apply to any dispute concerning investments which have arisen before its entry into force.

Article 12

Consultations and exchange of information

Representatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter affecting the implementation of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties at a place and a time to be agreed upon through diplomatic channels. Upon request by either Contracting Party, information shall be exchanged on the impact of the laws, regulations, decisions, administrative practices or procedures or policies that the other Contracting Party may have on investments covered by this Agreement.

Article 13 Entry into force and duration

1 — This Agreement shall enter into force 30 days after the Contracting Parties notify each other in writing that their respective internal constitutional procedures have been fulfilled.

2 — This Agreement shall remain in force for a period of 10 years and continue in force thereafter unless, 12 months before its expiration or any subsequent five-year period, either Contracting Party notifies the other in writing of its intention to terminate the Agreement.

3 — In respect of investment made prior to the date of termination of this Agreement the provisions of articles 1 to 12 shall remain in force for a further period of 10 years from the date of termination of this Agreement.

In witness whereof, the undersigned representatives, duly authorized thereto, have signed the present Agreement.

Done in ..., in duplicate, at this 27 day of September 1995, in the Portuguese, Latvian and English languages, all texts being equally authentic.

In case of any divergence of interpretation, the English text shall prevail.

For the Portuguese Republic:

For the Republic of Latvia:

PROTOCOL

On the occasion of the signing of the Agreement between the Portuguese Republic arid the Republic of Latvia on Promotion and Reciprocal Protection of the Investments, the undersigned, duly authorized to this