Article 4.24 Arbitration as Final Dispute Resolution

(a) (1) Where the Ombudsman process fails to produce a settlement within the period specified in Article 4.23 of this Chapter, or is formally terminated by the Ombudsman, either party shall be entitled to submit the dispute to international arbitration for final and neutral resolution.

(b) (2) Any such dispute shall, at the written election of a private party to such dispute be finally and exclusively resolved by ad-hoc arbitration; upon such election, no court, other alternative dispute resolution, or administrative proceedings shall lie in respect of the dispute, save for interim measures, arbitral support, or enforcement; unless otherwise agreed after the dispute has arisen, the arbitration shall be conducted under the UNCITRAL Arbitration Rules, by a three-member tribunal, seated in London, United Kingdom, in English, and governed by the law applicable under this Code.

(c) (3) For the purposes of Clause 4.11.2, the election to require ad-hoc arbitration shall be deemed to have been exercised in due time if made prior to the filing of arbitration proceedings as provided in Article 4.24(4) et seq., or within fourteen (14) days following such filing, and no failure to elect earlier, nor any participation in preliminary discussions, negotiations, administrative processes, or other proceedings, shall constitute a waiver, estoppel, acquiescence, or otherwise prejudice the right to make such election within that period.

(d) (4) Unless a private party exercises its right to require ad-hoc arbitration as provided in Article 4.24(2), any arbitration shall be conducted before the arbitration institution expressly stipulated in the applicable Residency Agreement, concession agreement, or other relevant instrument.

(5) Where no arbitration institution is stipulated:
(a) if the ICT is located in Asia, arbitration shall be conducted under the auspices of the Singapore International Arbitration Centre (SIAC), in accordance with the SIAC Rules in force at the time of commencement of arbitration;
(b) in all other cases, arbitration shall be conducted under the auspices of the London Court of International Arbitration (LCIA), in accordance with the LCIA Rules in force at the time of commencement of arbitration.

(f) (6) The seat of arbitration shall be the seat designated by the applicable arbitration rules, or failing such designation, the seat shall be determined by the arbitral tribunal.

(g) (7) The language of the arbitration shall be English.

(h) (8) The governing law of the arbitration shall be the law applicable in the ICT, as in force at the time the dispute arises, supplemented where necessary by generally recognised principles of international commercial law.

(i) (9) The arbitral tribunal shall have jurisdiction to determine all issues of fact and law arising within the scope of this Chapter, including the power to order interim, conservatory, or provisional measures, whether prior to or following the constitution of the tribunal, in accordance with the applicable arbitration rules.

(j) (10) Any arbitral award rendered pursuant to this Chapter shall be final and binding on the parties, and judgement upon the award may be entered and enforced in any court of competent jurisdiction.