The term “investment” means any type of assets invested in connection with economic activity by investor of one Contracting Party on the territory of the other Contracting Party in accordance with the laws and rules of the latter and includes in particular:
Each Contracting Party on its territory provides investments and profits of investors of the other Contracting Party with a regime, which is fair and equal and is no less favorable than that provided to investments and profits of investors of any third Party.
Identical procedures of restitution, reimbursement and compensation shall be applied to investments of investors of any Contracting Party on the territory of the other Contracting Party than those, which the latter Contracting Party provides to its own investors or investors of any third Party.
The Contracting Parties guarantee transfer of payments concerning investments and profits. Transfers shall be made in hard currency without any limitations and unnecessary delay.
Investments of investors of any Contracting Party shall not be nationalized, expropriated or subjected to measures that have effect equivalent to nationalization or expropriation on the territory of the other Contracting Party, except for social purposes. Expropriation shall be done only by proper legal procedure, on non-discriminatory basis and will be accompanied by conditions on payment of immediate, adequate and effective compensation. Such compensation shall equal to market price of the investments.
Disputes between the Contracting Parties concerning interpretation or application of this Agreement shall be settled by consultations or talks. In case such dispute cannot be settled during six months, upon request of any of the Contracting Party, it will be sent to Court of Arbitration, created by the Contracting Parties.
Conditions of this Agreement shall apply to investments made by investors of one Contracting Party on the territory of the other Contracting Party before and after this Agreement enters into force.
This Agreement shall enter into force after the Parties fulfill internal procedures required for its ratification.
Validity term of the agreement is 10 years.
Each of the Contracting Parties can terminate this Agreement by notifying the other Party about its intention not later than one year prior to end of initial or following periods.
Conditions of this Agreement shall remain valid for the period of ten years upon its termination for investments made prior to termination of this Agreement. tel/fax (380-44) 254-00-00 http://www.welcometo.kiev.ua/ e-mail: email@example.com