Compensation for Expropriation. (1) Each Contracting Party shall not take any measures of expropriation, nationalization or any other dispossession, having an effect equivalent to nationalization or expropriation against the investments of an investor of the other Contracting Party except under the following conditions: (a) the measures are taken for the public benefit and in accordance with the law; (b) the measures are non discriminatory; (c) the measures are accompanied by provisions for the payment of prompt, adequate and effective compensation. (2) The compensation shall be based on the market value of the investments effected inmediately before the measure became public knowledge. Such market value shall be determined in accordance with internationally acknowledge practices and methods or, where such fair market value cannot be determined, it shall be such reasonable amount as may be mutually agreed between the Contracting Parties hereto. In case of delay of the compensation payment, it shall carry interest at the appropriate market rate of interest from the date of expropriation or loss until the date of payment. (3) To determine the legality of the expropriation, nationalization or any other measures with an equivalent effect and the amount of the compensation, a claim may be presented in a due process of law, in accordance with existing laws and regulations of the expropriating Contracting Party. - 7 -
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Sources: Bilateral Investment Treaty, Investment Agreement, Investment Agreement
Compensation for Expropriation. (1) Each Contracting Party shall not take any measures of expropriation, nationalization or any other dispossession, having an effect equivalent to nationalization or expropriation against the investments of an investor of the other Contracting Party except under the following conditions:
(a) the The measures are taken for the public benefit and in accordance with the law;
(b) the The measures are non discriminatory;
(c) the The measures are accompanied by provisions for the payment of prompt, adequate and effective compensation.
(2) The compensation shall be based on the market value of the investments effected inmediately before the measure became public knowledge. Such market value shall be determined in accordance with internationally acknowledge practices and methods or, where such fair market value cannot be determined, it shall be such reasonable amount as may be mutually agreed between the Contracting Parties hereto. In case of delay of the compensation payment, it shall carry interest at the appropriate market rate of interest from the date of expropriation or loss until the date of payment.
(3) To determine the legality of the expropriation, nationalization or any other measures with an equivalent effect and the amount of the compensation, a claim may be presented in a due process of law, in accordance with existing laws and regulations of the expropriating Contracting Party. - 7 --7-
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