Communication from the Ministry of Foreign Affairs No. 180 / 1995 Coll.
Communication from the Ministry of Foreign Affairs on the negotiation of the Agreement between the Government of the Czech Republic and the Government of the Kingdom of Thailand on the promotion and protection of investment
Valid
International Treaty
Effective from 04.05.1995
Text versions:
31.08.1995
180
COMMUNICATION
Ministry of Foreign Affairs
The Ministry of Foreign Affairs states that on 12 February 1994 the Agreement between the Government of the Czech Republic and the Government of the Kingdom of Thailand on the promotion and protection of investment was signed in Bangkok.
The Parliament of the Czech Republic agreed to the Agreement and the President of the Republic ratified it.
The Agreement entered into force on 4 May 1995 pursuant to Article 12 (1) thereof.
The Czech translation of the Agreement is announced simultaneously. The English version, which is decisive for its interpretation, can be consulted by the Ministry of Foreign Affairs and the Ministry of Finance.
AGREEMENT
between the Government of the Czech Republic and the Government of the Kingdom of Thailand
on the promotion and protection of investment
The Government of the Czech Republic and the Government of the Kingdom of Thailand (hereinafter referred to as the "Contracting Parties'),
convinced that the promotion and protection of investment will be more conducive to encouraging economic relations between them; and
wishing to promote economic cooperation in creating favourable conditions for investment by investors of one Contracting Party in the territory of the other Contracting Party,
agree on the following:
Definitions
For the purposes of this Agreement:
1. the term "investment" shall mean all assets invested by an investor of one Contracting Party in the territory of the other Contracting Party in accordance with the law of the other Contracting Party, in particular:
(a) movable and immovable property and other property rights recognised by the applicable law of the Contracting Party in whose territory the investment is carried out;
(b) shares, bonds and deposits of companies, irrespective of their place of registration;
(c) cash claims or claims on any performance under a contract having a financial value;
(d) intellectual property rights, know-how and goodwill recognised by the law of the Contracting Party in whose territory the investment is carried out;
(e) trade concessions resulting from law or contract, including concessions for exploration, cultivation, extraction or exploitation of natural resources;
2. the term "investor" shall mean any natural or legal person of one Contracting Party who invests in the territory of the other Contracting Party:
(a) the term "natural person" shall mean any natural person having citizenship of one of the Contracting Parties in accordance with its law;
(b) the term "legal person" means, in respect of each Contracting Party, any company registered or established in accordance with its law and recognised as a legal person;
3. the term "income" shall mean the amounts resulting from the investment and shall include in particular, but not exclusively, profits, interest, capital gains, dividends, royalties and other charges;
4. the term "territory" means a territory over which a Contracting Party has sovereignty and over which it exercises legal authority.
Scope of the Agreement
1. The benefits of this Agreement shall apply only if the investment of investors of one Contracting Party in the territory of the other Contracting Party has been authorised in writing or otherwise approved, if necessary, by the competent authority in accordance with the law of the Contracting Party in whose territory the investment is made.
2. Investors of both Contracting Parties may apply for such authorisation for any investments made after 1 January 1950.
Aid and investment protection
1. Each Contracting Party shall, in the light of its intentions and policies, support and facilitate investment in its territory by investors of the other Contracting Party.
2. Investment by investors of one Contracting Party in the territory of the other Contracting Party shall be provided with permanent protection and security under the law of the other Contracting Party.
Treatment of investment
1. (a) Investments made by investors of one Contracting Party in the territory of the other Contracting Party and the proceeds thereof shall benefit from fair and fair treatment and shall not be less favourable than that accorded to the investors of the other Contracting Party or any third State.
(b) Each Contracting Party shall, in its territory, provide the investors of the other Contracting Party with regard to the management, use, use or disposal of their investments, the proper and fair treatment and not less favourable than that accorded to its own investors or investors of any third State.
2. Each Contracting Party shall maintain any obligation beyond the obligations set out in this Agreement which it may have entered into in view of the investors' investments of the other Contracting Party.
Exceptions
The provisions of this Agreement relating to treatment not less favourable than that accorded to investors of both Contracting Parties or any third State shall not be construed as obliging one Contracting Party to grant to investors of the other Contracting Party such treatment, benefits or privileges as may be granted by one Contracting Party under:
(a) the formation or extension of a customs union or free trade zone or common external tariff zone or monetary union or regional economic cooperation association; or
(b) the adoption of an agreement aimed at establishing or extending such a Union or region within a reasonable period of time; or
(c) any arrangement with a third country or countries in the same geographical area established to promote regional cooperation in the field of economic, social, labour, industrial and monetary in the context of specific projects; or
(d) any international agreement or arrangement or any domestic law relating wholly or principally to taxation; or
(e) granting the status of "preferred person" to an individual investor in Thailand under the Thai Investment Promotion Act. However, nothing prevents a Czech investor from being granted the status of "preferred person" if he meets all the necessary requirements laid down in the relevant Thai laws and regulations.
Expropriation
1. Where investments made by investors of one Contracting Party are subject, directly or indirectly, to measures such as expropriation or nationalisation, the investors concerned shall enjoy in the territory of the other Contracting Party proper and fair treatment in relation to such a measure. No such measure shall be taken, except in the public interest and against payment of the compensation. Such compensation shall be adequate, taking into account among other things the market value, immediately feasible, carried out without delay and freely transferable in freely convertible currencies.
2. The legality of any expropriation or nationalisation and the amount and method of payment of the refund shall be subject to review under the applicable legal order.
Compensation for losses
Where investments made by investors of one Contracting Party in the territory of the other Contracting Party suffer loss as a result of war or other armed conflict, revolution, exceptional state, insurrection, mutiny or unrest within the territory of the other Contracting Party, treatment shall be granted to the investor whose investment has suffered loss in respect of restitution, compensation, compensation or other settlement, in accordance with international law and in any event not less favourable than would have been granted under the same circumstances to the investor of the other Contracting Party or to the investor of any third State.
The compensation paid under this Article shall be freely transferable in freely convertible currencies.
Transfers of investments and revenues
1. Each Contracting Party shall guarantee the investors of the other Contracting Party the free transfer of investments and revenues without undue delay in freely convertible currencies, in particular:
(a) capital and additional amounts to maintain and increase the investment;
(b) profits, interest, dividends and other cash income;
(c) funds for the repayment of loans;
(d) royalties or other charges;
(e) proceeds from the sale or liquidation of the investment.
2. The transfers referred to in paragraph 1 shall be made at the market rate prevailing at the date of the transfer.
Subsidies
1. Where one of the Contracting Parties or any agency designated by it makes a payment to an investor under an insurance contract which it has concluded in connection with the investment, any right or claim of the investor shall pass on to that Contracting Party or Agency.
2. A Contracting Party or any of its agencies to which the rights of the investor referred to in paragraph 1 of this Article shall be transferred shall enjoy the same rights in relation to the investment in question and to the proceeds related thereto as the investor. Such rights may be exercised by a Contracting Party or by any of its agencies or by an investor if the Contracting Party or any of its agencies empower it to do so.
Dispute settlement between Contracting Parties
1. Disputes between the Contracting Parties concerning the interpretation or application of this Agreement shall, as far as possible, be dealt with by consultations or negotiations.
2. If the dispute between the Parties cannot be resolved in this manner within six months, it shall be referred to the arbitration panel at the written request of one of the Parties.
3. This arbitration panel shall be designated for each individual case as follows:
(a) each Contracting Party shall appoint one member and those two members shall then select a citizen of a third State who, after approval by both Contracting Parties, shall be appointed President of the Court;
(b) those members shall be appointed within three months and the President shall, within four months of the date on which one Contracting Party is informed by the other Contracting Party that the referral to the arbitration panel of the dispute has been proposed.
4. If the necessary appointments are not made pursuant to paragraph 3 of this Article, any Contracting Party may, if no other binding agreement is reached, request the President of the International Court of Justice to carry out the necessary appointments. If the President is a citizen of a Contracting Party or for any other reason is unable to carry out this mandate, the Vice-President shall be requested to be appointed. If the Vice-President is a citizen of a Contracting Party or is also unable to carry out this mandate, another oldest member of the International Court of Justice who is not a citizen of any Contracting Party shall be requested to make the necessary appointments.
5. (a) The arbitration panel shall take its decision by a majority vote. Such a decision shall be binding on both Parties.
(b) Unless the arbitration panel decides otherwise on costs, each Party shall reimburse the costs of its arbitrator and its participation in the arbitration procedure and the costs of the chairperson and the remaining costs shall be borne equally by both Parties.
(c) In all other cases than those referred to in points (a) and (b) of this paragraph, the arbitration panel shall determine its own rules of procedure.
Settlement of disputes between a Party and an investor
Where both Contracting Parties are Contracting States to the Convention on the Settlement of Disputes from Investments between States and citizens of other States, open for signature in Washington D.C. on 18 March 1965, and failing to resolve disputes amicably or in any similar manner, each Contracting Party shall agree that any legal dispute which may arise in connection with an investment carried out by an investor of the other Contracting Party shall, at the request of such an investor, be submitted to a conciliation or arbitration tribunal in accordance with the provisions of that Convention.
Entry into force
1. Each Contracting Party shall notify the other Contracting Party in writing of the fulfilment of the constitutional requirements required in its territory for the entry into force of the Agreement. This Agreement shall enter into force on the date of the second notification for an initial period of 10 years.
2. This Agreement shall remain in force unless one Contracting Party notifies the other Contracting Party in writing of its intention to terminate this Agreement. This Agreement shall enter into force one year after its adoption by the other Contracting Party.
For investments or commitments to invest made before the date on which the notification of termination of this Agreement has become effective, the provisions in Articles 1 to 11, including this Agreement, shall remain in force for 15 years.
In order to prove the signature below, duly authorised, they signed this agreement.
Done in duplicate in Bangkok on 12 February 1994 in English.
For the Government of the Czech Republic:
Ing. Ivan Kočárník CSc. v. r.
Deputy Prime Minister and Minister for Finance
For the Government of the Kingdom of Thailand:
Prasong Soonsiri v. r.
Minister for Foreign Affairs
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Regulation Information
| Citation | Communication from the Ministry of Foreign Affairs No. 180 / 1995 Coll., on the negotiation of the Agreement between the Government of the Czech Republic and the Government of the Kingdom of Thailand on the promotion and protection of investment |
|---|---|
| Regulation Type | International Treaty |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 31.08.1995 |
|---|---|
| Effective from | 04.05.1995 |
| Effective until | - |
| Status | Valid |
Legal Areas:
International law
International public law
The regulation text is for informational purposes only.
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