Protocol to the CACM Agreement on Investment and Trade Services (2007)
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Measures: Electricity Industry Law, Law No. 272 published in the Gazette No. 74 of April 23, 1998, Articles 27 and 58

Description: Cross-Border Trade in Services

Electricity transmission services may only be performed by the National Load Dispatch Center.

Sector: Lottery Administration

Obligations Concerned: Market Access (Article 4.06)

Measures: Internal Regulations of the National Lottery, published in La Gaceta No. 229 of December 3, 1996, Articles 4 and 5

Description: Cross-Border Trade of Services

Only the LoterĂ­a Nacional, a company owned by the State, may carry out the activities of administration of lotteries, raffles, raffles, promotions, and games of chance for money or in kind. Notwithstanding the foregoing, commercial promotions are permitted with the prior authorization of the National Lottery, which will be freely granted.

Sector: Social communication services

Obligations Concerned: Market access (Article 4.06)

Measures: General Law of Telecommunications and Postal Services, Law No. 200, published in La Gaceta Diario Oficial No. 154 of August 18, 1995, Article 118

Description: The issuance, financing and commercialization of postage stamps, as well as the use of franking machines and other analogous systems, is reserved to Correos de Nicaragua.

Annex II. Future Measures

Explanatory Note

1. The Schedule of a Party to this Annex sets out, in accordance with Articles 3.09 (Reservations and Exceptions) and 4.07 (Reservations and Exceptions), the sectors, subsectors, or specific activities for which that Party may maintain existing measures, or adopt new or more restrictive measures, that are inconsistent with the obligations imposed by:

a) Articles 3. 04 (National Treatment);or 4.04 (National Treatment);

b) Articles 3.05 (Most-Favored-Nation Treatment); or 4.03 (Most-Favored-Nation Treatment);

c) Article 3.07 (Performance Requirements);

d) Article 3.08 (Senior Management and Boards of Directors);

e) Article 4.05 (Local Presence);

f) Article 4. 06 (Market access).

2. Each Schedule entry sets forth the following elements:

a) Sector refers to the sector for which the entry has been made;

b) Obligations Concerned specifies the obligation or obligations referred to in paragraph 1 which, by virtue of Articles 3.09 (Reservations and exceptions) and 4. 07 (Reservations and Exceptions), do not apply to the sectors, subsectors or activities listed on the fiche;

c) Description indicates the coverage of the sectors, subsectors or activities covered by the schedule; and

d) Measures in Force identifies, for transparency purposes, the measures in force that apply to the sectors, subsectors or activities covered by the schedule.

3. Pursuant to Articles 3.09 (Reservations and Exceptions) and 4.07 (Reservations and Exceptions), the Articles of this Treaty specified in the Obligations Affected element of a schedule do not apply to the sectors, subsectors and activities identified in the Description element of that schedule.

Annex II. Schedule of Costa Rica

Sector: All Sectors

Obligations Concerned: Most favored nation treatment (Articles 3.05 and 4.03)

Description: Investment and Cross-Border Trade in Services.

Costa Rica reserves the right to adopt or maintain any measure granting differential treatment to countries under any bilateral or multilateral international treaty in force or entered into after the date of entry into force of this Agreement with respect to: a) aviation; b) fisheries; and c) maritime matters, including salvage.

Sector: Cultural Industries

Obligations Concerned: Most-Favored-Nation Treatment (Articles 3.05 and 4.03)

Description: Investment and Cross-Border Trade in Services

Costa Rica reserves the right to adopt or maintain any measure that grants differential treatment to countries under any existing or future bilateral or multilateral international treaties with respect to cultural industries, such as audiovisual cooperation agreements. For greater certainty, government support programs through subsidies for the promotion of cultural activities are not subject to the limitations or obligations of this Agreement. Cultural industries means persons engaged in any of the following activities: a) the publication, distribution or sale of books, magazines, periodicals, or printed or electronic newspapers, excluding the printing and typesetting of any of the foregoing; b) the production, distribution, sale or exhibition of audio or video recordings;c) the production, distribution, sale or exhibition of audio or video recordings of music; d) the production, distribution, or sale of machine-readable printed music; or e) radio broadcasting for the general public, as well as all activities related to radio, television and cable transmission, satellite programming services and transmission networks.

Sector: Social Services

Obligations Concerned: National Treatment (Articles 3.04 and 4.04) Most-Favored-Nation Treatment (Articles 3.05 and 4.03) Performance Requirements (Article 3.07) Senior Management and Boards of Directors (Article 3.08) Local Presence (Article 4.05) Market Access (Article 4.06)

Description: Investment and Cross-Border Trade in Services

Costa Rica reserves the right to adopt or maintain any measure with respect to the performance of leyes and the supply of social readaptation services such as the following services, to the extent that they are social services that are established or maintained in the public interest: income insurance or security, social security services, social welfare, public education, public training, health, child care, public sewerage services, and water supply services.

Annex II. Schedule of El Salvador

Sector: All Sectors

Obligations Concerned: Most-Favored-Nation Treatment (Articles 3.05 and 4.03)

Description: Investment and Cross-Border Trade in Services

El Salvador reserves the right to adopt or maintain any measure that accords differential treatment to countries under any bilateral or multilateral international treaty in force or to be concluded after the date of entry into force of this Agreement with respect to: a) aviation; b) fisheries; and c) maritime affairs, including salvage.

Sector: Social Services

Obligations Concerned: National Treatment (Articles 3.04 and 4.04) Most-Favored-Nation Treatment (Articles 3.05 and 4.03) Performance Requirements (3.07) Senior Management and Boards of Directors (3.08) Local Presence (Article 4.05) Market Access (4.06)

Description: Investment and Cross-Border Trade in Services

El Salvador reserves the right to adopt or maintain any measure with respect to the execution of !eyes and social readaptation services such as the following services, insofar as they are social services that are established or maintained for reasons of public interest: pensions, unemployment insurance, social security services, social welfare, public education, public training, health and childcare.

Sector: Minority Issues

Obligations Concerned: National Treatment (Articles 3.04 and 4.04) Performance Requirements (3.07) Senior Management and Boards of Directors (3.08) Local Presence (Article 4.05)

Description: Investment and Cross-Border Trade in Services

El Salvador reserves the right to adopt or maintain any measure that grants rights or preferences to socially or economically disadvantaged minorities.

Annex II. Schedule of Guatemala

Sector: All Sectors

Obligations Concerned: Most-Favored-Nation Treatment (Articles 3.05 and 4.03)

Description: Investment and Cross-Border Trade in Services

Guatemala reserves the right to adopt or maintain any measure providing for different treatment between countries under any international agreement in force or entered into after the date of entry into force of this Agreement involving: a) aviation; b) fisheries; and c) maritime affairs, including salvage.

Sector: Maritime Transport

Obligations Concerned: National Treatment (Articles 3.04 and 4.04) Most-Favored-Nation Treatment (Articles 3.05 and 4.03) Performance Requirements (Article 3.07) Senior Management and Boards of Directors (Article 3.08) Local Presence (Article 4.05)

Description: Investment and Cross-Border Trade in Services

Guatemala reserves the right to adopt or maintain any measure related to maritime transport services provisions.

Sector: Issues Related to Minorities and Disadvantaged Indigenous Populations

Obligations Concerned: National Treatment (Articles 3.04 and 4.04) Performance Requirements (Article 3.07) Senior Management and Boards of Directors (Article 3.08) Local Presence (Article 4. 05)

Description: Investment and Cross-Border Trade in Services

Guatemala reserves the right to adopt or maintain any measure that guarantees rights or preferences for indigenous, socially and economically disadvantaged minorities and populations.

Annex II. Schedule of Honduras

Sector: Communication Services - Telecommunications.

Obligations Concerned: National Treatment (Article 3.04) Market Access (Article 4.06).

Description: Investment and Cross-Border Trade in Services

Honduras reserves the right to adopt, maintain, or modify the level of ownership interest in Empresa Hondurefia de Telecomunicaciones (HONDUTEL), as well as its affiliates or subsidiaries.

Sector: All sectors

Obligations Concerned: Most-Favored Nation Treatment.(Articles 3.05 and 4.03).

Description: Investment and Cross-Border Trade in Services

Honduras reserves the right to adopt or maintain any measure that grants different treatment to countries under any bilateral or multilateral international treaty in force or to be signed after the date of entry into force of this Agreement with respect to: a) aviation; b) fisheries; or c) maritime affairs, including salvage.

Sector: Agricultural Engineers

Obligations Concerned: Most-Favored-Nation Treatment (Article 4.03) National Treatment (Article 4.04) Local Presence (Article 4.05)

Description: Cross-Border Trade in Services

Honduras reserves the right to adopt or maintain any measure that applies to the compulsory professional registration of agricultural engineers.

Sector: Social Workers

Obligations Concerned: National Treatment (Article 4.04)

Description: Cross-Border Trade in Services

Honduras reserves the right to adopt or maintain any measure that applies to the compulsory professional registration of social workers.

Sector: Medical and pharmaceutical products

Obligations Concerned: Most-favored-nation treatment (Article 4.03) National treatment (Article 4.04) Local presence (Article 4.05)

Description: Cross-Border Trade in Services

Honduras reserves the right to adopt or maintain any measure that applies to the compulsory professional registration of chemists and pharmacists.

Sector: Social Services

Obligations Concerned: Senior Management and Boards of Directors (Article 3.08) Most-Favored-Nation Treatment (Article 4.03) National Treatment (Article 4.04) Local Presence (Article 4.05) Market Access (Article 4.06)

Description: Investment and Cross-Border Trade in ServicesHonduras reserves the right to adopt or maintain any measure with respect to the application and implementation of laws, and the provision of social readaptation services; as well as the following services to the extent that they are social services that are established or maintained for reasons of public interest; pensions, unemployment insurance, social security services, pension fund services, social welfare, public education, public training, health and child care.

Sector: Minority-Related Matters.

Obligations Concerned: National Treatment (Article 3.04 and 4.04) Performance Requirements (Article 3.07) Senior Management and Administration (Article 3.08) Local Presence (Article 4.05) Boards of Directors (Article 4.05)

Description: Investment and Cross-Border Trade in Services

Honduras reserves the right to adopt or maintain any measure that grants rights or preferences to socially and economically disadvantaged minorities.

Annex II. Schedule of Nicaragua

Sector: All Sectors

Obligations Concerned: National Treatment (Article 3.04) Senior Management and Boards of Directors (Article 3.08)

Description: Investment

Nicaragua reserves the right to limit the transfer or disposition of any interest in an existing state enterprise to the effect that only Nicaraguan nationals may receive such interest. However, the foregoing provision applies only to the initial transfer or disposition of such interest. Nicaragua does not reserve this right with respect to subsequent transfers or dispositions of such interest. Nicaragua reserves the right to limit control of any new enterprise created by the transfer or disposition of any interest described in the preceding paragraph by means other than limitations on the ownership of the interest. Nicaragua further reserves the right to adopt or maintain any measure relating to the nationality of senior management and members of the board of directors of such new enterprise.

Sector: Minority and indigenous peoples' issues

Obligations Concerned: National treatment (Articles 3.04 and 4.04) Most-favored-nation treatment (Articles 3.05 and 4.03) Performance requirements (Article 3.07)Senior management and boards of directors (Article 3.08) Local presence (Article 4.05)

Description: Investment and Cross-Border Trade in Services

Nicaragua reserves the right to adopt or maintain any measure that grants rights or preferences granted to socially or economically disadvantaged minorities and indigenous peoples.

Sector: Communications

Obligations Concerned: Most-Favored-Nation Treatment (Articles 3.05 and 4.03).

Description: Investment and Cross-Border Trade in Services

Nicaragua reserves the right to adopt or maintain any measure that grants differential treatment to persons of other countries due to the application of reciprocal measures or through international agreements involving radio spectrum sharing, guaranteed market access or national treatment with respect to one-way satellite transmission of direct-to-home (DTH) and direct broadcasting (DBS) television and audio-digital services.

Sector: All Sectors

Obligations Concerned: Most-Favored-Nation Treatment (Articles 3.05 and 4.03)

Description: Investment and Cross-Border Trade in Services

Nicaragua reserves the right to adopt or maintain any measure that accords different treatment to countries under any bilateral or multilateral international treaty in force or entered into after the date of entry into force of this Agreement with respect to: a) aviation; b) fisheries; or c) maritime affairs, including salvage.

Sector: Coastal Land, Islands and River Banks

Obligations Concerned: National Treatment (Article 3.04)

Description: Investment

Nicaragua reserves the right to adopt or maintain any measure with respect to coastal land, islands and river banks in Nicaragua's possession.

Sector: Social Services

Obligations Concerned: National Treatment (Articles 3.04 and 4.04) Most-Favored-Nation Treatment (Articles 3.05 and 4.03) Performance Requirements (Article 3.07) Senior Management and Boards of Directors (Article 3.08) Local Presence (Article 4.05)

Description: Investment and Cross-Border Trade in Services

Nicaragua reserves the right to adopt or maintain any measure with respect to the performance of correctional !eyes and services, and the following services to the extent that they are services to be established or maintained for reasons of public interest: unemployment insurance, social insurance and social security, social welfare, public education, public training, health and child care.

Previous page Page 16
  • Article   1 1
  • Article   2 1
  • Article   3 1
  • Annex A 1
  • Annex B 1
  • Chapter   1 Initial Provisions 1
  • 1.01 Objectives 1
  • 1.02 Observance of the Treaty 1
  • 1.03 Relationship with other Treaties 1
  • Chapter   2 DEFINITIONS OF GENERAL APPLICATION 1
  • 2.01 Definitions of General Application 1
  • Chapter   3 Investment 1
  • Section   A Investment 1
  • 3.01 Definitions 1
  • 3.02 Scope 2
  • 3.03 Minimum Level of Treatment 2
  • 3.04 National Treatment 2
  • 3.05 Most-favored-nation Treatment 2
  • 3.06 Treatment In Case of Losses 2
  • 3.07 Performance Requirements 2
  • 3.08 Senior Corporate Management and Boards of Directors 2
  • 3.09 Reservations and Exceptions 2
  • 3.10 Transfers 2
  • 3.11 Expropriation and Compensation 2
  • 3.12 Special Formalities and Information Requirements 2
  • 3.13 Denial of Benefits 2
  • 3.14 Measures Relating to the Environment 2
  • 3.15 Promotion of Investments and Exchange of Information 2
  • Section   B Investor-State Dispute Settlement 2
  • 3.16 Consultation and Negotiation 2
  • 3.17 Submission of a Claim to Arbitration 2
  • 3.18 Consent of Each Party to Arbitration 2
  • 3.19 Conditions and Limitations on the Consent of the Parties 2
  • 3.20 Selection of Arbitrators 3
  • 3.21 Conduct of Arbitration 3
  • 3.22 Transparency of Arbitration Proceedings 3
  • 3.23 Applicable Law 3
  • 3.24 Interpretation of Annexes 3
  • 3.25 Expert Reports 3
  • 3.26 Accumulation of Procedures 3
  • 3.27 Reports 3
  • 3.28 Delivery of Documents 3
  • Annex 3.11  3
  • Annex 3.28  3
  • Chapter   4 Cross-border Trade In Services 3
  • 4.01 Definitions 3
  • 4.02 Scope of Application 3
  • 4.03 Most-favoured Nation Treatment 4
  • 4.04 National Treatment 4
  • 4.05 Local Presence 4
  • 4.06 Market Access 4
  • 4.07 Reservations and Exceptions 4
  • 4.08 Transparency In the Development and Application of Regulations 4
  • 4.09 Future Liberalization 4
  • 4.10 Committee on Investment and Cross-Border Trade In Services 4
  • 4.11 National Regulations 4
  • 4.12 Mutual Recognition 4
  • 4.13 Transfer and Payments 4
  • 4.14 Denial of Benefits 4
  • 4.15 Professional Services 4
  • 4.16 Ground Transportation Services 4
  • 4.17 Technical Cooperation 4
  • Annex 4.10  Committee on Investment and Cross-Border Trade in Services 4
  • Annex 4.15  Professional Services 4
  • Chapter   5 Telecommunications  (7) 4
  • 5.01 Definitions 4
  • 5.02 Scope of Application 4
  • 5.03 Access to and Use of Public Telecommunications Services 5
  • 5.04 Obligations Related to Providers of Public Telecommunications Services  (8) 5
  • 5.05 Additional Obligations Concerning Major Suppliers of Public Telecommunication Services  (10) 5
  • 5.06 Underwater Cable Systems 5
  • 5.07 Conditions for the Provision of Information Services 5
  • 5.08 Independent Regulatory Bodies and Government-owned Telecommunications Providers  (15) 5
  • 5.09 Universal Service 5
  • 5.10 Licenses and other Authorizations 5
  • 5.11 Allocation and Use of Scarce Resources 5
  • 5.12 Compliance 5
  • 5.13 Settlement of Internal Disputes on Telecommunications 5
  • 5.14 Transparency 5
  • 5.15 Flexibility In the Choice of Technologies 5
  • 5.16 Abstention 5
  • 5.17 Relationship with other Chapters 5
  • Chapter   6 Financial Services 5
  • 6.01 Definitions 5
  • 6.02 Scope of Application and Extent of Obligations 6
  • 6.03 National Treatment 6
  • 6.04 Most-favored-nation Treatment 6
  • 6.05 Market Access for Financial Institutions 6
  • 6.06 Cross-border Trade 6
  • 6.07 Self-regulatory Bodies 6
  • 6.08 Recognition and Harmonization 6
  • 6.09 Exceptions 6
  • 6.10 Transparency 6
  • 6.11 Payment and Compensation Systems 6
  • 6.12 Domestic Regulation 6
  • 6.13 Expedited Availability of Insurance Services 6
  • 6.14 Senior Management and Boards of Directors 6
  • 6.15 General Inquiries 6
  • 6.16 New Financial Services and Data Processing  (16) 6
  • 6.17 Treatment of Certain Types of Information 6
  • 6.18 Financial Services Committee 6
  • 6.19 Reservations and Exceptions 6
  • 6.20 Future Liberalization 6
  • 6.21 Disputes between an Investor and a Party 7
  • 6.22 Disputes between the Parties 7
  • Annex 6.18  Financial Services Committee 7
  • Annex 6.19.2  Specific Commitments 7
  • Section   A Costa Rica 7
  • Section   B El Salvador 7
  • Section   C Guatemala 7
  • Section   D Honduras 7
  • Section   E Nicaragua 7
  • Annex 6.19.3  Additional Information Relating to Financial Services Measures 7
  • Section   A Costa Rica 7
  • Section   B El Salvador 7
  • Section   C Honduras 7
  • Section   D Nicaragua 7
  • Chapter   7 Temporary Entry of Business Persons 7
  • 7.01 Definitions 7
  • 7.02 General Principles 7
  • 7.03 General Obligations 7
  • 7.04 Temporary Entry Authorization 7
  • 7.05 Provision of Information 7
  • 7.06 Dispute Settlement 7
  • 7.07 Relationship with other Chapters 8
  • Annex 7.04  Temporary Entry of Business Persons 8
  • Section   A Business Visitors 8
  • Section   B Merchants and Investors 8
  • Section   C Transfers of Personnel Within a Company 8
  • Annex 7.04(1)  Specific Provisions for the Temporary Entry of Business People 8
  • Appendix 7.04(A)(1)  Business visitors 8
  • Appendix 7.04(A)(2)  Existing Migration Measures 8
  • Chapter   8 Exceptions 8
  • 8.01 Definitions 8
  • 8.02 General Exceptions 8
  • 8.03 National Security 8
  • 8.04 Balance of Payments 8
  • 8.05 Exceptions to the Disclosure of Information 8
  • 8.06 Taxation 8
  • Annex 8.06  Competent Authorities 8
  • Chapter   9 Administration of the Treaty 8
  • 9.01 Administration 8
  • 9.02 Functions of the Council 8
  • 9.03 Committees 9
  • 9.04 Functions of the Committees 9
  • Annex 9.03.2  9
  • Chapter   10 Transparency 9
  • 10.01 Definitions 9
  • 10.02 Information Center 9
  • 10.03 Publication 9
  • 10.04 Provision of Information 9
  • 10.05 Guarantees of Hearing, Legality and Due Process 9
  • 10.06 Administrative Procedures for the Adoption of Measures of General Application 9
  • 10.07 Review and Challenge 9
  • Chapter   11 Final Provisions 9
  • 11.01 Amendments 9
  • 11.02 Amendments to the WTO Agreement 9
  • 11.03 Reservations 9
  • 11.04 Duration 9
  • 11.05 Denunciation 9
  • 11.06 Deposit 9
  • 11.07 Annexes, Appendices and Footnotes 9
  • 11.08 Replacement 9
  • Annex I  Non-conforming Measures 9
  • Explanatory Note 9
  • Annex I  Schedule of Costa Rica 9
  • Annex I  Schedule of El Salvador 11
  • Annex I  Schedule of Guatemala 12
  • Annex I  Schedule of Honduras 13
  • Annex I  Schedule of Nicaragua 14
  • Annex II  Future Measures 16
  • Explanatory Note 16
  • Annex II  Schedule of Costa Rica 16
  • Annex II  Schedule of El Salvador 16
  • Annex II  Schedule of Guatemala 16
  • Annex II  Schedule of Honduras 16
  • Annex II  Schedule of Nicaragua 16