Common use of Both Contracting Parties Clause in Contracts

Both Contracting Parties. recognize the full rights of subrogation with regard to the rights or actions of an investor whose investment has been covered by a guarantee. In case of a dispute, only the investor or a privately managed company may initiate, or participate in, proceedings before a national tribunal or submit the case to international arbitration in accordance with the provisions of Article 9 of this Agreement. 1. This Article only applies to disputes between a Contracting Party and an investor of the other contracting Party concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or its investment. 2. With respect to the submission of a claim to arbitration: a-an investor of one Contracting Part may not allege that the other Contracting Party has breached an obligation under this Agreement both [à la fois] in arbitration under this Article and in a proceeding before a competent court or administrative tribunal of the former Contracting Party, party to the dispute.