Common use of Submission of a Claim Clause in Contracts

Submission of a Claim. 1. An investor of a Contracting Party may submit to arbitration a claim that the other Contracting Party has breached an obligation under Chapter II, and that the investor has incurred loss or damage by reason of, or arising out of, that breach. 2. An investor of a Contracting Party, on behalf of an enterprise constituted or organised under the laws and regulations of the other Contracting Party, that is a legal person such investor owns or controls, may submit to arbitration a claim that the other Contracting Party has breached an obligation under Chapter II, and that the enterprise has incurred loss or damage by reason of, or arising out of, that breach. 3. A disputing investor may submit the claim to arbitration under: (a) the UNCITRAL Arbitration Rules; or (b) any other arbitration rules, if the disputing parties so agree. 4. The applicable arbitration rules shall govern the arbitration except to the extent modified by this Section. 5. A claim is submitted to arbitration under this Section when: (a) the notice of arbitration given under the UNCITRAL Arbitration Rules is received by the disputing Contracting Party; or (b) the notice of arbitration given under any other arbitration rules agreed by the disputing parties under paragraph 3(b) is received by the disputing Contracting Party.