b) in the case of a final award made under the ICSID Additional Facility Rules or the UNCITRAL Arbitration Rules:
(i) 90 days have elapsed from the date the award was made and neither party to the dispute has initiated proceedings to review or set aside the award;
(ii) a court has rejected or granted an application for review or annulment of the award, and its decision is no longer subject to appeal.
43.4 Each Party shall enforce an arbitral award in its territory in accordance with its domestic law.
43.5. If a party to the dispute refuses to enforce an arbitration award, the matter shall, at the request of the other party to the dispute, be referred to the dispute resolution procedure between the Parties in accordance with Section VII of this Agreement. Such other party to the dispute may seek, in such proceedings:
a) a determination that the refusal to enforce the award is inconsistent with the obligations of this Agreement; and
b) a recommendation that the party to the dispute who refuses to enforce the award respect and comply with the award.
43.6 No enforcement action prior to or subsequent to a final award, such as seizure, attachment or garnishment, may be taken against property of the Respondent including, but not limited to:
a) property, including bank accounts, used or intended to be used in the performance of the functions of the diplomatic mission of the Respondent or its consular posts, special missions, missions to international organizations, or delegations to organs of international organizations or to international conferences;
b) property of a military character or property used or intended to be used in the performance of military functions;
c) property of the Respondent's central bank or other monetary authority;
d) property forming part of the cultural heritage of the Respondent Party or its archives that is not offered or intended to be offered for sale;
e) property that is part of an exhibition of objects of scientific, cultural or historical interest that are not offered or intended for sale.
Section VII. DISPUTE RESOLUTION BETWEEN THE PARTIES
Article 44. DISPUTE RESOLUTION BETWEEN THE PARTIES
44.1 Either Party may request consultations regarding the interpretation or application of this Agreement and the enforcement of an arbitration award in accordance with Article 43 of this Agreement (paragraph 43.5). The other Party shall give sympathetic consideration to such a request.
44.2 Any dispute between the Parties relating to the matters referred to in Paragraph 44.1 shall, to the extent possible, be resolved amicably through consultations within the Joint Committee referred to in Article 26 of this Agreement. This Committee shall meet without delay at the request of the most diligent Party.
44.3 If the dispute cannot be settled within six months of the commencement of consultations, it may be submitted to an arbitration tribunal at the request of either Party.
44.4 An arbitral tribunal is constituted for each dispute and is composed of three arbitrators.
44.5 Within two months after receipt through diplomatic channels of the request for arbitration, each Party shall appoint an arbitrator to the arbitral tribunal. The two arbitrators so appointed shall then select an arbitrator who is a national of a third State who, subject to the approval of both Parties, shall be appointed chairman of the arbitral tribunal. The chairman shall be appointed within two months from the date of appointment of the other two arbitrators of the arbitral tribunal.
44.6 If the time limits set forth in paragraph 44.5 of this Article have not been observed, each Party may, in the absence of any other agreement between the Parties on the extension of such time limits, invite the President of the International Court of Justice to make the necessary appointments. If the President of the International Court of Justice possesses the nationality or permanent resident status of one of the Parties or is otherwise prevented from exercising this function, the Vice-President of the International Court of Justice shall be invited to make the necessary appointments. If the Vice President has the nationality or permanent resident status of one of the Parties or is otherwise prevented from serving, the most senior member of the International Court of Justice, who is a national of a third State, shall be invited to make such appointments.
44.7 The President of the arbitral tribunal and the two other arbitrators must be nationals of a third State having diplomatic relations with both Parties.
44.8 The arbitrators shall have extensive knowledge of or experience in public international law, international trade or investment rules, or the settlement of disputes arising under international trade or investment agreements. They shall be independent of the Parties and shall not receive instructions from or be connected with them.
44.9 Arbitrators shall, where applicable, in addition to meeting the criteria set out in section 44.8, have extensive knowledge or experience in financial services law or practice, which may include the regulation of financial institutions.
44.10 The arbitral tribunal shall determine its own rules of procedure.
44.11 The arbitral tribunal shall decide on the basis of the provisions of this Agreement and the rules and principles of international law and shall take its decisions by majority vote. Unless the Parties agree otherwise, the arbitral tribunal shall render its decisions within six (6) months of the appointment of the Chairman. Such decisions shall be final and binding on both Parties.
44.12 Each Party shall bear the costs of its arbitrator and his or her representation in the arbitration proceedings. The costs of the chairman and all other costs shall be borne equally by the Parties. The arbitral tribunal may, however, for objective reasons, order that a higher percentage of the costs be borne by one of the two Parties, and this decision shall be binding on both Parties.
Section VII. FINAL PROVISIONS
Article 45. Relationship with other Agreements
45.1. Upon execution and ratification of this Agreement by the Parties, the prior investment agreement or agreements between such Parties shall be deemed to be terminated and all rights and obligations under such prior agreement or agreements shall be governed by this Agreement. Such termination shall be immediate, notwithstanding any expiration period provided with respect to the rights of investors or investments under such prior agreement(s).
45.2. Notwithstanding paragraph 45.1 of this Article, any dispute that has been formally initiated under a prior investment agreement or agreements shall be resolved in accordance with the rights and obligations under such prior agreement or agreements.
45.3 This Agreement shall be without prejudice to the rights and obligations of the Parties under other international agreements to which they are parties.
45.4 Except as otherwise provided, in the event of any inconsistency between this Agreement and the Agreements referred to in subsection 45.3, this Agreement shall prevail to the extent of the inconsistency.
45.5 Non-discriminatory measures taken in good faith by the Host Party to comply with its international obligations under other international agreements shall not constitute a violation of this Agreement.
Article 46. Entry Into Force and Application
46.1 This Agreement shall enter into force after the Parties notify each other in writing that all their respective internal procedures for entry into force of international agreements have been completed. The entry into force shall be effective 30 days after the date of receipt of the last notification.
46.2 Without prejudice to the provisions of Article 26 (Joint Committee) of this Agreement, 10 (ten) years after the entry into force of this Agreement, the Joint Committee shall conduct a general review of its implementation and make recommendations, if necessary, to improve its effectiveness, including the possibility of introducing an amendment to the Agreement.
Article 47. Amendment
47.1 This Agreement may be amended at the request of any Party. The request for amendment shall be in writing and shall explain the reasons why the amendment should be made. Following any consultations between the two Parties regarding the amendment request, the other Party shall respond in writing.
47.2 If the Parties fail to reach agreement on the amendment of this Agreement within six (6) months from the date of the written request of the Party seeking such amendment, the latter Party may unilaterally terminate this Agreement within thirty (30) days from the date of expiration of the six (6) month period. The denunciation shall be notified through diplomatic channels and shall be considered notice of termination of this Agreement. In such event, the Agreement shall terminate six (6) months after the date of receipt of such notification by the other Party, unless such notification is withdrawn by mutual agreement prior to the expiration of such notice period.
47.3 If the Parties agree to amend this Agreement, the amendment shall be confirmed by an exchange of diplomatic notes.
47.4 The amendment shall enter into force in accordance with the procedures required for the entry into force of this Agreement under Article 46(1) and shall become an integral part of this Agreement.
47.5 The amendment shall become binding on arbitral tribunals constituted under Section VI of this Agreement to adjudicate disputes arising after the effective date of the amendment.
Article 48. Validity and Expiration
48.1 This Agreement shall remain in force until either Party notifies the other Party in writing of its intention to terminate it, in which case it shall terminate one year after receipt of the notice of termination by the other Party.
48.2 With respect to investments made prior to the expiration of this Agreement, the provisions of Articles 1 through 45 of this Agreement shall remain in effect for an additional five years from the effective date of termination.
Conclusion
In witness whereof, the undersigned representatives, duly authorized by their respective Governments, have signed this Agreement.
Done at ... ...... ... in two originals, in Arabic ............. , the ... texts being equally authentic.