The Government of the Kingdom of the Netherlands
and
The Government of the Republic of Ghana,
hereinafter referred to as the Contracting Parties,
Desiring to strengthen the traditional ties of friendship between their countries, to extend and intensify the economic relations between them particularly with respect to investments by the nationals of one Contracting Party in the territory of the other Contracting Party,
Recognizing that agreement upon the treatment to be accorded to such investments will stimulate the flow of capital and technology and the economic development of the Contracting Parties and that fair and equitable treatment of investment is desirable,
Have agreed as follows:
1.
Investments of nationals of either Contracting Party shall not be nationalised, expropriated or subjected to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") in the territory of the other Contracting Party unless the following conditions are complied with:
(a) the measures are taken for a public purpose related to the internal needs of that Contracting Party, on a non-discriminatory basis and under due process of law;
(b) the measures are accompanied by provision for the payment of compensation amounting to the genuine value of the investment expropriated immediately before the expropriation or before the impending expropriation became public knowledge, whichever is the earlier;
(c) payments of compensation shall be made without undue delay and shall be freely transferable to the country designated by the claimants concerned and in the currency of the country of which the claimants are nationals or in any freely convertible currency accepted by the claimants; and
(d) if the compensation is not paid within six months after its determination, it shall from that date attract interest at the normal commercial rate until the date of payment.
2.
The national affected shall have a right, under the law of the Contracting Party making the expropriation, to prompt determination of the amount of compensation either by law or by agreement between the parties and to prompt review, by a judicial or other independent authority of that Party, of his case and of the valuation of his investment in accordance with the principles set out in paragraph (1) of this Article, without prejudice to the procedure contained in Article 9 of this Agreement.
Inhoudsopgave
Agreement on Encouragement and Reciprocal Protection of Investments between the Kingdom of the Netherlands and the Republic of Ghana
Article 1. Definitions
Article 2. Promotion of Investments
Article 3. Protection of Investments
Article 4. Taxation
Article 5. Repatriation of Investments and Returns
Article 6. Expropriation
Article 7. Compensation for Losses
Article 8. Subrogation
Article 9. Settlement of Disputes between an Investor and a Host State
Article 10. Applicability
Article 11. Territorial Extensions
Article 12. Consultation
Article 13. Settlement of Disputes between the Contracting Parties
Article 14. Duration and Termination
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