HtTW}:EN `I`ll E COVI::HNMgNT OF THE lU~l`l iBl.IC OF INDONES1A
Transcription
HtTW}:EN `I`ll E COVI::HNMgNT OF THE lU~l`l iBl.IC OF INDONES1A
AG REl~M~Nrl ' HtTW}:EN 'I'll E COVI::HNMgNT OF THE lU~l'l iBl.IC OF INDONES1A AND THE GOVEHNMENT OJ< ]AMAJCA CONClmNING THE pnOMOTION AND PROTECTION OF INVESTMl':NTS GO\'~:I"IlIl1(,.lll 01 lbe Repuhlic d' IllIlollCsi:l ,Ulel t11(~ G()\'Cl'nllll~llt hcrcillaH~1 H,.fcl'l'cd to as "C<>nlr;~crillg Parties·; The Bcm ing ill Illilld the li'icndly and l'o()pcl'ativc rehlljo1lS cOUlllri(.l!> :Iud lltdr peoples; (~xis(jn~ or Jamaica hetween the two Dc;iriul:\ tu ..Tl";'!'. !~"\V()\Jrablo conditions fo\' grCCllcr economic cooperation h(~IWlJl'/l U1CICI, lllLG iu p:U'l.icut'lI" ('or i.nvcslmcul hy invcstol'~ of one Contrar.ling P<lrly in the territory of lIw olher COJllracting Pa.ot:y, Rccoguiloing tlial 1I1vc~luJ(.'n\s co\lIl1ri(~~; u)(' Agl'cemcllt on the Prom()li~J\1 alld Protection of ~ucb 1I(~ti\itics ill Il(.)tll will he tOlll.lu(:iyc to the stimulation of invQstmcn( Have agre.Nl as follows; ARTICLE I DEFINITIONS 1'01' the pnrpmc of this 1, Agr~clllCnl! Th(~ IeI'm "i.llvelltmcnt" shall m~'.an any kiud of asset im"cslcc! by inv(:1;\ors or ()m~ C()nlractill,~ l\uiy in the tcrritol), of tbe othc.r Conlr!lcLing Party, ill ('oufunnil)' wilh lh~ laws iUld rcgull\liollS of th(: latt(~r, jndnding, hut nol (: xd\l~ivdy: a, IIlUV<I hk alit! imJ1loV"nhlc properly lIS wdl as other rights snch fts lilly olher similar righls; 11Ior(gah'cs, pli\~kgc~, and h, ril;ilts duivcJ li'oill shaft'.s, bonds or any other form ()r illt{'r(~.s 1 ill colllp"njt~S Of joilll \'Clltl.1l'(~ in the tc.nilory lhl~ Olllt~r Contracling Party; Co daims ll> money or !o any pcl'fonmlIl(,c having a fill:l.nciaJ valllej d, illl,clkclllal property righls, ledlll.ic:l/ pr(>c c~s('s, g()n(l~~ll and know!low; C. hu.~i1l<,:s s ('()J l(:C'ssion.~ conferred by law 01' umkr (:OJl(/,:\cl rcl<lt('d I() Ilw investJllent illdnciing (;OUCCSSiOllS 10 ,~c:u'ch lor 01' ~xpl()1t lIallll'al or rcsO\u'{'cs, Any al\tratioll of thl.l form in which <IsseIS arc invcs(r.d shaU not '1I1t~('i tlwir dl.ml\:; l~'1' as ~Ul investment, provided thal 511Ch alteratioll has also })(,C'Jl apl>l'O\'~~d or adlllilwd under Arlide IT, 2, The term "investo,," meall~: (i) ualural penon possessing citizellship of a Coni meting ParlY who the tcnil.<.>ry of the O(hCl' CoutTad.ing ParlY ill ac<.'oroallcl' with the law.'; and rCglllatioLls of that COHlraC'ling Plirty; ;Ihy inv(.~:Sl:; ill (ii) JCJ,.'allK~r~oll~ II C()nll';\(.~ting 3, or which art) wmtituted 01' U1COI1JOl'lllcd ulIde,r Ihe laws Coutl'ucljn.tl' Parly anci which illvcst in th(~ (cn'itol'Y of Illc othr.T Pany, "l'cniIOl'y" shall mean: ;1, 111 H~Spcct of the Rcpuhlk of Indollc~hl: TILt" TCl'J'itory or the R(~publie of lnd.ollcsia as defined in it); laws. IllchlClillg parIS or thc Conliuental Shdf, Ihe E.\:dw;iVl! Economi(: Zone, sqhsoil adjaccnt tt) th~~ ou!c,r limit of the territorial Stl<L~ over which the Hej)uhlic of Indo/lclliCt has sOV('J'cignly, );()vcrdgn rights or jllri~dic.lioll ill (lcwrciancc with the] 9S2 United Natiolls COllv(~nli()n on th{~ I A'lW of I'l}t~ Sea. b. IJIJ'espcdof];:II11ak,,: ' I 'Ill: wlTilory ofJam.."\ieil liS WeU as thosl: (WU'iIIDt(: arCIIS, illdncling the S('a hc:d ;uICI su},soil adjan!lIt to Ihe (luter limiL 01' Ihe tcrrilol'ial S~!l, l'/,"',l which .1nrnaka cx(~n:isl~s, in acc(Jrd:lrI'~c willi intcl'Ilatio(\l\l law, jllrisdiclioll 01' s()vcrC'.ign right.~ for the 11l1rpos(', of e>.r>ioralioll or ~'xpJoiriitioll of nalllr:.1 rcsourcc~ . AUTICLF, II PHOMOTION AND PROTECTION OF INVESTMENTS J. Either COlltr(l<':UlIg Parly shall cllcotlra.~(~ aud cn·.al(~ favorable l':ollditiollS 1'01' invr,slors of the otht>.r COllu:acling to invest in ils l~~rrilory, and sh,,11 admil such cal,ilal ill ;l<'(~ordarl<:e with ill' law~ and rq~ulaliOllS. 2. IllvcSlnlt~IlL~ of investors of cidlcr COnlra(:ting l'auy shall al OIl! 'ill1c~ he ,\Cl'vnkd lair ,lilt! e.quilOlblc treatment and shall cqjoy adcqllall: prolectioll and sccwi.ty ill the tcnitory of the (lthCI' Contl'actlng l'arty, 3. TIlt' Cl'nlr;J(~til1g I'<u-ticr. may pcdodi<::llly cOllSlIlt c()llr~rning irl'lcSllllcnl OPPOl'tUllitics i.n vadous sectors of tlid!' l'r.sp(~dj\,c e("OIl!,)mi(~s 1,0 det~I1lUllC where investments may be mosl hl'lldil:ial in lheir mutual imcrcsl. Alr1'lCLE III MOST·FAVOURED NATION l'ROV1SIONS I, Each COllU<lt:llng Party shall cnstU'C fair .mel equitable treatment of 11\(>. illVt'SllllCII(.s of lnvestors of the other C()IItracting Party and s}IHII not impair, hy tuu'casonahlc or dis('rirninah)l)' Illl~aSIlJ'Cs, thcopcn\tioll. miUl<lgcmcnt, maintenance, usc, el\ioymcnl. OJ' diSpO!:N th~reof by those invcstors, F..ach Contractillg Parly shall ,1<x:ord Ii) sudl invcstlllcllt. adcljul\t(': physical seew'it)' and protection. 2. More lJal'licularly, each (',ontracliIlg Party shall ul'Col'd 1.0 such illv('.Slnlt,nIS, tr~a(mellt whicb in any c<lse ~hall not be ks.~ favorahle than Iha.l ;tccord(~<1 to il1\'e~tx'llel\ls of in\'estors of allY Thinl St<llc, :l. If ;\ Contracting Party has ;t('conkti special advanlagt'S It) iJlvl:~lor l)f all\' thil'll state. hy virlllC' of iI!,'I'l!l:II11'uls t'.stablishillJ; C'lIs/.oms \1\liOllS. l'collomic unions, moncL..lry 1Il1jOllS or similar inslilntions, Of' 011 the basis ofiulCl'illl agrcel1lt.:nts leadiug 10 sud) unions 01' iIlStitlllio1l$, thaI. COlltra<:lillg Party shall !lot be ohligerl to accord SUd1 a(h';U\(<1gl~s to iU\'cslors Ihe oth{~r Contracting P<trly or .1. ~ollullg illlhis Agrccr]\(~lIt shaH ohligt; iI colllr;lriing l'<u'ly 10 cXlelld to inveslors of Ihe olher Contracting Parly ;my spc<'ial i\lh~Ull<1g<:.s hy virtue of allY internalional agreement or arrangement OJ' any dOllle~t:ic legislal'i on relaljng wh()lly or mainly t() double t:\xalloll . ARTICU:JV EXPROPRIATION Each C()IIIl"Lld.ing Party shall lIot take nny I1lcaStll'l.~s of exproprialion, l\aliollali7Alli.on 01' any OUll:r dispossession, having eifc(;l cqlli,'a.knt to ~',xpH>pnallon or nationali:muoll ltg..tius( the illvestment oj' all investor the othCl' Contraclillg Party except Illltkr the following <:()udiljons: or (a) Ihe JlIel\S\1l'CS life. taken for a lawtilIIRU"POSC or puhlic purpose ami under due proccs~ of lllVr'; (b) Ill() ml'USUrcs an~ HOJl-disrnmi!liltoIY; (c) t11'~ ml'.;I~l1n\~ are ,l(,,compauied hy prompt and cll'er:livc compensatio\l at('mding to the m~rkct value of tlIt~ e.s;propnatcd hl\'e~lmcnl immediately tllc impending expropriation wa., puhlicly alUlOl\llCcd, shall illdudt'; inkl'est from Ihe date expropriali()ll at a lIC>rmal COllltncn:ial r»l('., shall bt: p;ti<l \\;lhoUl <le!;\y and shall be. cJlectiv~ly l'l'lili7A1hlc :lJld fredy transferahle. In (klcrminil'lg lhe IIIarket value, due weighl sball be given lo nJ1Y factors which might h;lVt~ alh:ctcd the \'allt~. of the investmellt bdorc the measure was puhlicly llnnollnccd. hd()n~ or ARTICLE V COMI'ENSATJON FOn LOSSl::S I. hlVt)stor~ of 011(', Contl';wting Party, whose investments ill Ille tCl1itCIl), of th(,~ COlltracting ParlY slliler losses owing to war or OCh~r !lImed conllid, rcyuhl1iou, r\ stale of national eme,rgency, TCVolt. iIlSllI'l'C(~tion ()l' ri()t ill Ille of the Inl1l~)" COlltracting ParLY, shall be accorded by t!l(' IalLer COlllrarljllg P<1rIY trcatJll~'lIt, as rcg.trch rcstillllhm, inocflIlliliralioll, compcllsalio/l Of other settlement. krritol'Y 2. sh~lll not b(~ les~ favourable limn thaI" which tllt· 1"lkr Contracting Party accords to iuvestments of its own investors or invcslllwlll<; of illvestor~. oj" any thi.rd state. '1'11(' I!('atmenl ARTICLE VI TRANS FEnS J. l'~lC'h C()nlr:lctjll~; Party shall grall( the iU'Ii(!'.stOl'S of Iht". other COlltracting" Pany, i.1I a('("()rdanc~ with its laws anti regulations, the right to (nulsfcrs rdal.l~d \0 iJl'l'(.'sllllcnls, ill particula1', t!lollgh not cxclu)\ivdy of: :I. prolits, intl'rcsl~, di"jdC'uds and otber nlln~J\t U1COlllCj h. hlJlds necessary (i) 1"01' the a('(luisilion of raw materials or ilUxiJiary malcli::tls, scml fahric:~ted (ii) or 1i.llishcd products. (>l" lO reptace capital assets in ol'dt:r to snfcgulird the COl\IlIlUily of all investmenl.; c. fiulIIs in rc.paymentofloans l'c1alCUlo tJl(1 invcstnlCJlI; .1. royahi<!s or fees j \~. ral'llillh'S of natural persolls of the ()ther CoutJ',u:ling P<lJ"lY who arc (.'ruployccl ill COIl1lct.li()u with the inveslmcnt ill lH~(~oJ'chncc witli tJ"lC \Vork P(~mlit laws of the other Contracting' Party. L the. pnx:ceds (.,f sale. or )icluidalinTl of the investmeut, provided however, rJlat in periods of exceplional bala.lll:e of paymcubi Ilillicultlcs, t(alls1i.~rs llIay he phased over Ih\"I,\C ycal'~j g. n)lllp(~llsat.ion h. mmpcnsatioulor expropriatioll. for losses; ~, AllY tJ'allslCl' shall be made. at the prevailiug rate or \:x('l!angl: 011 Ihe date of Iralls/l'l, AUTICLE VII SUUnOGATlON 11 Ih(' illvestlllelllS oj a investor of the Olle Contracting Party arc illslIJ'(xl ag;litl~t 11011' comnlt:.rcial risk~ under a syst.em estllhlishcd by law, allY suhrogation or Ih~', ins\lrel' or I'C-inSlIHT 10 tJ Ie rights of the said illvcslor pur~I.HUlL to the tCl"rIlS of mch insurance sh'llI he rt'~'o~l1izcd by the other Contractillg Party, pnwidcd, however, (hat the iusurel' ()1' t] 1<: I'l~-imlll'el' shalluot he entitled to exercisl' 'Ill)' right5 OI'hcr Ihill! the lighls wltkb tllt, investor would have heen entitkd 1'() excrcise, ARTICLE Vlll SJ.t:"ITLEMl':NT OF DISPUTES BETWF.EN THE CONTRACTING }>J\lrflES CONC1CHNING JNTlmPRETATION AND APPUCA'fJON OF THE AGREEMI~NT 1. Any disl'l1t(~ hetween tht: Contracting rarlit:~ cOlln~willg thc intcllwetiltioll Of upplinltiOIl of this Agrc-.cmcllt shall, as far lIS po~sjhlc be settled mnicahly tlu'\>I1)~ I negotiations. 2. ]1' the disputc C;lIl11ot be so sel/led within six months li'om the sllIl't of' the llc:gnljatioIl.~, it shall upon the requesL of eithCJ' Colltmcting Party, be slIbmi/t<:d 10 an arbil.ral Iribunal, in accordance with the provisi()!ls of Ihi~ Attidc. a. '} 'he Arbitl'al Tdbun..] shall be COllsfittl\('d iu the lollowing way: Each COl'ltra(:liug ParlY shall (\))J>oinl: an arhitrator and lhese two at'bill';lfors sh;JI lhen I>clccl. u national of <l thirli Sf,ate, who .. ha.ll ilc:1 'IS Cbairman, rhe arhiu'ators shall k IlppoiulCd within three monlhs :Illd lh~ Chainnall within live mOllths from th~ date on whkh either of' the two Con{l'ac!ing Parti.I~S illJi.rnwd Ihe OllIeI' Contractiug Put'ly of its illtention to suhmil,Lhe dispute tc, Ilrbitnllioll. 4. If wi[iliu the periods specillcd ill paragraph (~~) or this Arlidc, the lII~eCSS,\l'y ,lp!-,ointmCnls bave not been made, either COnlltictlng P!II1y may, ill the <IbS~'lK'C o/' lUly ol.her agl'OCml'll4 uwite Ih(', President <,1' t.he Jnternational Court ofJ ll~ljrc to make .lIlY necessary app(\iut:lllCIIIS, If lht~ President is a mllional "I' ('illwr Conlral'lillg Party or if hl~ is olh('twisc prr.vL'Jlt(~d frolll di~dIOU'J;illg tlw said IiUKtioll, the. Vic(~-Prc~idl~nt. slmll bt~ imileu to make the IlC(:C~~lIry ;lI'Jl()illlm~lIls. If the Vicc.Prl.'sideIll is a natiollal of eithel' COlllractulI; Party or i rhe too i~ prevented from djsdll~rgi.ng the: said fll/KUOn, the Illembcl of the J!ltc.mnt i0nal Court ofJ ustir.c n(~:l.t in sC.I1imity, who is not. a 1l1lt.ion.1l of either Conlractil1g-Party sh;.U be im·i:.cd to make the neI'CS~;UY ap»oilltllU::IlI". I\l"bill'a! Tribunal shall bsuc iL~ derision Oil tile basis or the I"IIlcs ("oI\I;'\incr! ill this Agreemeal as weU as of the principles of Imc.l'Ilatioll;)l Law. 5. "nl e G. The. ArhitmJ TribUllll\ shall de.terminl.! its own proC'crhu'C and shall read. its (h'("i~ion by a majority of Vl;>tc~. Such decisioll ~haU he lin.al and binding 011 h.~th COllu'artil\g Pa.nies. E.1ch Conu'acting Party sh"ll bear the (:osl or its own .\rhilJ·at.or alld i(~ Counsel in the arhiU'al procccdings, t11(~ cost uf thc Cll.limliYI :lIld th~ remaining costs slmll he borne ill eqlml paris hy hoth COJllrao:ung l\utic~. Al{TICLE IX SErrJ.EMENT OF mS1>lJTES BETWEEN TNVESTOUS AND A CONTHACTING l'ARTY I. AllY disp\lt(' whkh al'ises within the. tenus of this Agreement (:oncerning all iuvcsln J('.ll\ lWlwecll .HI investor of om'· Contraclillg ParI y and Ihe other Colliraclillg PlIlty shall, if !>osllihlc. be sClIled amicably. 2. If Ilw di~PIJI'" C<llIlIot be ~ulc.d \vjlhin ~ix monlhs following lhe dale 011 which the disJ1ute has been raised by either I>31'ty, it may be suhmitted 10: judicial pro~<lllr(~s pro\'ided by the Coutracting Part.y ill who~c: tclTitol'Y Iht~ investment Wa); madtl or 3. (i) th~ (ij) inll'l"I1:ltjollal arhitl1llioll i\('(:ording to I.hc provisiol\~ or Paragrapll 8. '''-''hen: a dispnte has been I'liisr.d by lin investor :md the Pill-tics dh,agl'c.(! as to or (ii) the opiuioll the. investor shall prevail. the choke of (i) or -1.. Pllr~\lrUIl to Panlgraph 2 and :1, WhCl'C an investor or a Contracting l'i\l"ty has submitted a disjJlllc to the aforem('lIIioned ~onlJwlcnl trib~\l!(\1 of (he CommcLing Pilrly wl1l're the investment 111\6 bc~:n made or 10 i.nte.m"tiolli~l arhitration, this decisioll shall he final. 5. Itl t:a~1! of iJltcrnation~1 arbitration, the displ1f(~ shall he slIhmiu:cd cit/wT' to: Int(:rnari()unl C,....lltrc for tile. $('.(tlcllH:lll orlnvcslmt'.nl. J)i~PU1(" ~ (1CS]D) crelltcd hy Ihe "Collwntion onlltc SclllCTIlt'nt of ]nvcSln\(~111 Di5plltC~ l~lWCCll Srnlcs and NatloJl:Js of Other St;l le~" opened for SiW.Hltttr(~ in Washin,;tou D.C. on 1Rth March, 1965; (i) (/I~~ (ii) ;u'bib:alion trihunal Sel up illllCt:ol-cla.ll('.c wilh the i\r-hitJ'alioll Hales of !lIe United NatiOlls V>nllllission on Il)lellmlioml Tra(k [;i\V (UNCITRAL). ,Ul;td hOI: (i. 'I'll<:. arhitration 1.I'iblllllll shall dc.d dc ill accordann: wilh lh~~ piovis;c)/l~ of this Ag1'ct~mCllt, thi.: law)! or the Coulrac:tll1g P;U'lY involved in dlC dispute, the tc.}'ms or allY spc('ilk IIg1CCllWIlI nllldudcd in relation to sudl ,UI investmenl ;11\<1 the rekvanl prindples ill illicTIlaliollallaws. 7. 'rk ,u'liitl'aljoll decisions shall he. !ina.! alld hilll)illg 101' the. Parties 10 the. dispute . f : t('h Contracting P:U!y sh:!11 o.;ccuf.c them ill :u:wrdmwc with its laws, AHTICI.F. X Al'l'l.ICABILITY 017 THIS AGlm.l<:MENT This AJ;r<:'('wcntslmil apply to all iJlvesfm~~nts, whelher made before or Hiler dl(·. (Jllh~ of clltJy ud.() f01'Cl~ of Ihis Agreemenl, hll' the provisil)Jls of Ihis Agreemenl ~h..'lll nol ll.pply to ,Illy disPtJl~', claim 01' difference which aro5Oe before i.s entry into {i.>rCl~ with l·CSP<.'.d to i\lVesllllcllls made prior to tills Agrcemelll, lhe period of applicnhility shall be I.en years, ARTICLE Xl AP1)LICATION 0 .1" OTHIW PROVISIONS If the pro\'bioHS or law or cilhcl' Contra(~til1g Party or <,hligariolls ulldr~r inH\rnali()llal law ...~xis(illg at prescnlo1' eSlablished hCl'cart.cr between Ihe. COlllJ'acting Part;(\s ill addiLioIl lo Ihl~ present Agreemellt ('oulllin a regullition whcdJef general 01' sp~6f1~, enlilliug illvcslmcnts by inV<:'$I:ot'S of the olhcr C'..onlntctillg Party lo :l treamH~nt n\()n~ ror by Ihe pre,scll\. Agree.rnenl, such rcglll:ltjom shall to thl! l'xtl'nl 111;\1 il is .. 101": !;\vomhlc pr~w:\il over the presellt Agl·cement. !'IIVOI';,hlc' I) lall is providcd AlrI'ICLE XII CONSULTATION AND AMENDMEN'r 1. Eitl1n COHtl':ldillg Party may r'~q\ll;st that cOllsu]t<ttiollS be held ull iU1Y ma\ter C:<)IIC~Tlltllg lhis Agreement.. The olher ParlY shall accord synlpalhdiC' cou ~id('ra!loll to the proposnl and shall anonl a.rll'lluatl' (JPPOl'lllilily for ~\lcb COl l:;ultations. 2. 'lN~ ~~n:Gnwlll ma), be amt~1l\kJ at :my tinw, if dt't~mcd llCCCSS:UY, by II1UlllaJ nmsenl of bolh COlllr:1Ctillg P;u·li~s. AHTICLE XIIl ENTHY INTO FOnCE, DURATION AND TERMINATION 1. Tbl' pr~sl~1l1 Agl'l~t',l'1lt~1l1. ShilJl CHlt'r into force. Ihrm~ ml)nlh~ l\ftl~l' tlH~ riMe I)f tit" Ial.l:slnotificalioll by which Contracting l'artics have notilicd l~:lch othl~r dial. tlldr cOllstlnltiollai rcquircnl('llts for thc entry into of Utili Agl'CCIllI!JlI I Ja\'l~ beeJl lillliUcd. 2. Thi~ A!..'l~,ClllClil ~halll'clllil.iJl in AW'c,('m~'nl 01ll~ yl~al' 3, or fon:e for a period 11:'.1.1 (1 0) y(~ars :111,1 ~h<lll cmu/lIllt' ill f()n:(\ Ihert'~\flcr lor a ~i1l1ilar pcnc.,d llnk~s either Contrn'~tjng ParlY lIoli!k$ tlH~ ()11l(~1' (',(){\Irm::ting P;trly ill writing oi'ilS intmllioll tn Inrmill"'''~ thi!; bctorc its eKl>iratioll, or \Vith rcsped to invcstInenls made priol' lo Ihe Iblt'. 01' IL!mlilllltic»'l this Agl'I·,ellI\'.IlI, du: p[,()\1si()J)~ 1}lis Agret.mu!ll!' shall continue lo b(~ dTr.ctlvc. for or a perincl of len (10) year$ from the date of tcnnination. IN \\'1'1 NFSS \VHVH1':Ol'~ the ul1demgllcd. <flUY allthol'i~.cd tl'lcrcto 1»), Ul{'lJ' reslll:clin:: Go"crrllucuts. haw signed tlus Ag!'c(!lllcnt. Dmw ill dl1plkatc at MOlllego 11.y,Jamaica, 011 ... a.~, Fcbr\l,u'y, 1999 ill thr LHIOIlCsian alld English lang·uagcs. 130th lexls lut' eqllally :llJlh('ulk If Illne is ;my divcI'gcnc..., concerning Ihe intel'pretation, thl\ EnJ.'I.i~h leXI shall pn!vail. FOR THE (;OVl':RNMI':NT OF THE lU;Pl.IB J(: OF INDONFSIA J.<'OH. '1 'HI:: GOVEJt.'JMF.NT OTI JAMAICA J?f1A ;4./___- ~;.LI'f<L!l.Af"t'il~';' "-~~ ::;.,---:-:...~~ .~:,'':':: ALlAL,\TAS Mini~lcl' of Ftlr ~ign :_--_ .. An'airs c,7SEYMOUR MULLiNGS 1/ Millister of Foreign AlTain; aud Foreign 'frade