3 . The decision of an arbitral tribunal in an arbitration under Articles 13 or 15 of this Agreement shall be binding on the parties to the dispute with respect to the particular case The parties shall abide by and comply with the terms of the award.Articles 13 or 15 of this Agreement shall be binding on the parties to the dispute with respect to the particular case The parties shall abide by and comply with the terms of the award.
4 . The decision of an arbitral tribunal shall only be published if there is agreement by the parties to the dispute.
5 . An arbitral tribunal in an arbitration under Articles 13 or 15 of this Agreement shall not order a Contracting Party to pay punitive damages.Articles 13 or 15 of this Agreement shall not order a Contracting Party to pay punitive damages.
6 . Each Contracting Party shall, in its territory, make provision for the effective enforcement of awards made pursuant to this Article.
7 . An Investor may seek enforcement of an arbitral award under the Convention or the New York Convention if both Contracting Parties are parties to such instruments.Convention or the New York Convention if both Contracting Parties are parties to such instruments.
8 . If a disputing Contracting Party fails to abide by or comply with a final award, on delivery of a request by a Contracting Party whose Investor was a party to the arbitration, an arbitral tribunal under Article 21 may be established. The requesting Contracting Party may seek in such proceedings:Article 21 may be established. The requesting Contracting Party may seek in such proceedings:
(a) A determination that the failure to abide by or comply with the final award is inconsistent with the obligations of this Agreement, and
(b) A recommendation that the Contracting Party abide by or comply with the final award.
Article 20. Relationship with other Dispute Settlement Procedures
The dispute settlement provisions of Article 13 shall not apply where the dispute settlement provisions of another agreement protecting investments have already been invoked in respect of the same matter.
Article 21. Settlement of Disputes between the Contracting Parties
1 . The Contracting Parties shall consult at the request of either of them on matters concerning the interpretation or application of this Agreement.
2 . The Contracting Parties shall endeavour to resolve any dispute between them concerning the interpretation or application of this Agreement by prompt and friendly consultations and negotiations.
3 . If a dispute is not resolved by such means within six months of one Contracting Party seeking in writing such negotiations or consultations, it shall be submitted at the request of either Contracting Party to an Arbitral Tribunal established in accordance with the provisions of this Article or, by agreement, to any other international tribunal.
4 . The Arbitral Tribunal shall consist of three persons appointed as follows:
(a) Each Contracting Party shall appoint one arbitrator;
(b) The arbitrators appointed by the Contracting Parties shall, within thirty days of the appointment of the second of them, by agreement, select a third arbitrator who shall be a citizen or permanent resident of a third country which has diplomatic relations with both Contracting Parties;
(c) The Contracting Parties shall, within thirty days of the selection of the third arbitrator, approve the selection of that arbitrator who shall act as Chair of the Arbitral Tribunal.
5 . Arbitration proceedings shall be instituted upon notice being given through diplomatic channels by the Contracting Party instituting such proceedings to the other Contracting Party. Such notice shall contain a statement setting forth in summary form the grounds of the claim, and the name of the arbitrator appointed by the Contracting Party instituting such proceedings. Within sixty days after the giving of such notice the respondent Contracting Party shall notify the Contracting Party instituting proceedings of the name of the arbitrator appointed by the respondent Contracting Party.
6 . If, within the time limits provided for in paragraph 4(b), paragraph 4(c) and paragraph 5 of this Article, the required appointment has not been made or the required approval has not been given, either Contracting Party may request the President of the International Court of Justice to make the necessary appointment. If the President is a citizen or permanent resident of either Contracting Party or is otherwise unable to act, the Vice-President shall be invited to make the appointment. If the Vice-President is a citizen or permanent resident of either Contracting Party or is unable to act, the Member of the International Court of Justice next in seniority who is not a citizen or permanent resident of either Contracting Party shall be invited to make the appointment.paragraph 4(b), paragraph 4(c) and paragraph 5 of this Article, the required appointment has not been made or the required approval has not been given, either Contracting Party may request the President of the International Court of Justice to make the necessary appointment. If the President is a citizen or permanent resident of either Contracting Party or is otherwise unable to act, the Vice-President shall be invited to make the appointment. If the Vice-President is a citizen or permanent resident of either Contracting Party or is unable to act, the Member of the International Court of Justice next in seniority who is not a citizen or permanent resident of either Contracting Party shall be invited to make the appointment.
7 . In case any arbitrator appointed as provided for in this Article shall resign or become unable to act, a successor arbitrator shall be appointed in the same manner as prescribed for the appointment of the original arbitrator and the successor shall have all the powers and duties of the original arbitrator.
8 . The Arbitral Tribunal shall convene at such time and place as shall be fixed by the Chair of the Arbitral Tribunal. Thereafter, the Arbitral Tribunal shall determine where and when it shall sit.
9 . The Arbitral Tribunal shall decide all questions relating to its competence and shall, subject to any agreement between the Contracting Parties, determine its own procedure taking into account the Permanent Court of Arbitration Optional Rules for Arbitrating Disputes Between Two States.Permanent Court of Arbitration Optional Rules for Arbitrating Disputes Between Two States.
10 . Before the Arbitral Tribunal makes a decision, it may at any stage of the proceedings propose to the Contracting Parties that the dispute be settled amicably. The Arbitral Tribunal shall reach its award by majority vote. The Arbitral Tribunal will decide disputes in accordance with this Agreement and the applicable rules and principles of international law.
11 . Each Contracting Party shall bear the costs of its appointed arbitrator and the cost of its representation in the proceedings. The costs of the Chair of the Arbitral Tribunal and other expenses associated with the conduct of the arbitration shall be borne in equal parts by both Contracting Parties. The Arbitral Tribunal may decide, however, that a higher proportion of costs shall be borne by one of the Contracting Parties.
12 . The Arbitral Tribunal shall afford to the Contracting Parties a fair hearing. Any award shall be rendered in writing and shall state its legal basis. A signed counterpart of the award shall be transmitted to each Contracting Party. An award shall be final and binding on the Contracting Parties.
Article 22. Settlement of Disputes between Investors of the Contracting Parties
Each Party shall within its territory and in accordance with its laws and regulations, accord to Investors of the other Party treatment no less favourable than the treatment it accords to its own Investors or Investors of any third party, in respect of access to its courts of justice and administrative tribunals and the recognition and enforcement of judgements.
Article 23. Entry Into Force
1 . The Contracting Parties shall notify each other in writing and through diplomatic channels, on the compliance with their constitutional requirements in relation to the approval and entry into force of this Agreement.
2 . This Agreement shall enter into force 60 days after the date on which the last notification referred to in paragraph (1) above has been received by the Contracting Party in question.paragraph (1) above has been received by the Contracting Party in question.
Article 24. Duration and Termination
1 . This Agreement shall be in force for an initial period of ten years and shall remain in force thereafter for an indefinite period of time, unless terminated in accordance with paragraph (2).paragraph (2).
2 . Either Contracting Party may terminate this Agreement at the end of the initial ten years period or at any time thereafter, by giving twelve months written notice to the other through diplomatic channels.
3 . With respect to investments made before termination of this Agreement, its provisions shall continue to be effective with respect to such investments for a period of ten years after the date of termination.
Conclusion
For the Government of Australia:
For the Government of the United Mexican States:
PROTOCOL
On signing the Agreement between the Government of the United Mexican States and the Government of Australia on the Promotion and Reciprocal Protection of Investments, the undersigned plenipotentiaries have, in addition, agreed on the following provisions which shall be regarded as an integral part of the said Agreement.
Article 1 (c) (i)
1. For the purposes of Article 1(c)(i), the term citizen includes a permanent resident (that is, a natural person whose residence in a Contracting Party is not limited to time under its law) if, in accordance with the laws, regulations and policies of the Contracting Party concerned, they are treated as citizens for economic purposes.
2. This Agreement shall not apply to a natural person who is a permanent resident but not a citizen of a Contracting Party where: (a) the provisions of an investment protection agreement between the other Contracting Party and the country of which the person is a citizen have already been invoked in respect of the same matter; or (b) the person is a citizen of the other Contracting Party.
3. This Agreement shall not apply to a natural person having nationality or citizenship of both Contracting Parties in accordance with their applicable laws.
Article 4, paragraph (1)
1. Article 4, paragraph (1) prescribes the customary international law standard of treatment of aliens as the minimum standard of treatment to be afforded to investments of Investors of another Contracting Party.
2. The concepts of "fair and equitable treatment" and "full protection and security" do not require treatment in addition to or beyond that which is required by the customary international law standard of treatment of aliens.
3. A determination that there has been a breach of another provision of the Agreement, or of a separate international agreement, does not establish that there has been a breach of the provisions established in Article 4, paragraph (1) of this Agreement.
Article 7
1. Nothing in Article 7 shall be interpreted to limit the compensation payable on expropriation below that required by the principles of customary international law.
DONE at........................................., in......................................., in duplicate, in the English, and Spanish languages, each being equally authentic.
For the Government of Australia: For the Government of the United Mexican States: