Common use of Submission of a Claim Clause in Contracts

Submission of a Claim. 1. No earlier than three months from the date of the written notice of intent delivered pursuant to Article 18 (Notice of Intent to Arbitrate), the disputing investor may submit the claim to one of the following dispute settlement mechanisms: (a) the competent courts or administrative tribunals of the territory the investment was made, provided that such courts or administrative tribunals have jurisdiction; (b) arbitration under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) as revised in 2010; or (c) any other arbitration or arbitration institution as agreed by the disputing parties. 2. Once the investor has submitted the dispute to any of the settlement procedures listed in Paragraph 1 (b) or (c) of this Article, the choice of the procedure is final.