6. pants

Šis līgums paliek spēkā sešus mēnešus pēc tam, kad saņemts

paziņojums, ar kuru viena no Valdībām informē otru par savu

lēmumu neturpināt savu līdzdalību šajā līgumā. Līguma nosacījumi

attiecībā uz apdrošinājumu, kas tika izsniegts laikā, kad līgums

bija spēkā, paliks spēkā līdz apdrošinājuma termiņa beigām, taču

ne ilgāk kā 20 gadus pēc līguma izbeigšanas.

Šis līgums stāsies spēkā ar parakstīšanas datumu.

To apliecinot apakšā parakstījušies, savu valdību pilnvaroti

parakstījuši šo līgumu.

Noslēgts Indianapolisā, 1991. gada 28. oktobrī, divos

oriģināleksemplāros, latviešu un angļu valodā, pie kam abi teksti

ir vienlīdzīgi autentiski.

Latvijas

Republikas

Valdības vārdā

Ivars Godmanis

Amerikas Savienoto

Valstu

Valdības vārdā

Dens Kveils

INVESTMENT INCENTIVE AGREEMENT

BETWEEN THE GOVERNMENT OF THE UNITED STATES OF AMERICA AND THE

GOVERNMENT OF THE REPUBLIC OF LATVIА

The Government of the United States of America and the

Government of the Republic of Latvia affirm their common desire

to encourage economic activities in the Republic of Latvia which

promote the development of the economic resources and productive

capacities of the Republic of Latvia. Recognizing that this

developmental objective can be promoted through investment

insurance (including reinsurance), loans and guaranties which are

backed in whole or in part by the credit or public monies of the

United States of America and administered by the Overseas Private

Investment Corporation ("OPIC"), an agency of the

United States of America, (or pursuant to arrangements between

OPIC and private companies), the parties signatory hereto agree

as follows:

ARTICLE 1

As used in this Agreement, the term "Coverage" shall

refer to any investment insurance, reinsurance or guaranty which

is issued in accordance with this Agreement by OPIC, by any

successor agency of the United States of America or by any other

entity or group of entities, pursuant to arrangements with OPIC

or any successor agency. In this Agreement, the term

"Issuer" shall refer to OPIC and any such successor

agency, entity or group of entities to the extent of their

interest as insurer, reinsurer, or guarantor in any Coverage,

whether as a party or successor to a contract providing Coverage

or as an agent for the administration of Coverage.

ARTICLE 2

(a) If the Issuer makes payment to any party under Coverage,

the Government of the Republic of Latvia shall, subject to the

provisions of Article 3 hereof, recognize the transfer to the

Issuer of any currency, credits, assets, or investment on account

of which payment under such Coverage is made as well as the

succession of the Issuer to any right, title, claim, privilege,

or cause of action existing, or which may arise, in connection

therewith.

(b) The Issuer shall assert no greater rights than those of

the transferring party under Coverage with respect to any

interests transferred or succeeded to under this Article. Nothing

in this Agreement shall limit the right of the Government of the

United States of America to assert a claim under international

law in its sovereign capacity, as distinct from any rights it may

have as Issuer.

(c) The Issuer shall not be subject to regulation under the

laws of the Republic of Latvia applicable to insurance or

financial organizations.

(d) Interest and fees on loans made or guaranteed by the

Issuer shall be exempt from tax in the Republic of Latvia. The

Issuer shall not be subject to tax in the Republic of Latvia as a

result of any transfer or succession which occurs pursuant to

Article 2(a) hereof. Tax treatment of other transactions

conducted by the Issuer in the Republic of Latvia shall be

determined by applicable law or specific agreement between the

Issuer and appropriate fiscal authorities of the Government of

the Republic of Latvia.

ARTICLE 3

To the extent that the laws of the Republic of Latvia

partially or wholly invalidate or prohibit the acquisition from a

party under Coverage of any interest in any property within the

territory of the Republic of Latvia by the Issuer, the Government

of the Republic of Latvia shall permit such party and the Issuer

to make appropriate arrangements pursuant to which such interests

are transferred to an entity permitted to own such interests

under the laws of the Republic of Latvia.

ARTICLE 4

(a) Amounts in the lawful currency of the Republic of Latvia,

including credits thereof, acquired by the Issuer by virtue of

such Coverage shall be accorded treatment by the Government of

the Republic of Latvia no less favorable as to use and conversion

than the treatment to which such funds would be entitled in the

hands of the party under Coverage.

(b) Such amounts and credits may be transferred by the Issuer

to any person or entity and upon such transfer shall be freely

available for use by such person or entity in the territory of

the Republic of Latvia.

(c) The provisions of this Article 4 shall also apply to any

amounts and credits in the lawful currency of the Republic of

Latvia which may be accepted by the Issuer in settlement of

obligations with respect to loans made by the Issuer for projects

in the Republic of Latvia.

ARTICLE 5

(a) Any dispute between the Government of the United States of

America and the Government of the Republic of Latvia regarding

the interpretation of this Agreement or which, in the opinion of

one of the Governments, involves a question of public

international law arising out of any project or activity for

which Coverage has been issued shall be resolved, insofar as

possible, through negotiations between the two Governments. If,

at the end of six months following the request for negotiations,

the two Governments have not resolved the dispute by agreement,

the dispute, including the question of whether such dispute

presents a question of public international law, shall be

submitted, at the initiative of either Government, to an arbitral

tribunal for resolution in accordance with Article 5(b).

(b) The arbitral tribunal for resolution of disputes pursuant

to Article 5(a) shall be established and function as follows:

(i) Each Government shall appoint one arbitrator; these two

arbitrators shall designate a president by common agreement who

shall be a citizen of a third state and whose appointment shall

be subject to acceptance by the two Governments. The arbitrators

shall be appointed within three months and the president within

six months of the date of receipt of either Government's

request for arbitration. If the appointments are not made within

the foregoing time limits, either Government may, in the absence

of any other agreement, request the Secretary-General of the

International Centre for the Settlement of Investment Disputes to

make the necessary appointment or appointments, and both

Governments agree to accept such appointment or appointments.

(ii) The arbitral tribunal shall base its decision on the

applicable principles and rules of public international law. The

arbitral tribunal shall decide by majority vote. Its decision

shall be final and binding.

(iii) During the proceedings, each of the Governments shall

pay the expense of its arbitrator and of its representation in

the proceedings before the arbitral tribunal, whereas the

expenses of the president and other costs of arbitration shall be

paid in equal parts by the two Governments. In its award, the

arbitral tribunal may, in its discretion, reallocate expenses and

costs between the two Governments.

(iv) In ali other matters, the arbitral tribunal shall

regulate its own procedures.

ARTICLE 6

This Agreement shall continue in force until six months from

the date of receipt of a note by which one Government informs the

other of an intent no longer to be a party to the Agreement. In

such event, the provisions of the Agreement with respect to

Coverage issued while the Agreement was in force shall remain in

force for the duration of such Coverage, but in no case longer

than twenty years after the termination of the Agreement.

This Agreement shall enter into force as of the date of

signature.

In witness whereof, the undersigned, duly authorized thereto

by their respective Governments, have signed this Agreement.

Done at Indianapolis on the 28th day of October, 1991, in

duplicate, in the Latvian and English languages, both texts being

equally authentic.

For the Government

of

THE UNITED STATES OF AMERICA

Dan Quayle

For the Government

of

THE REPUBLIC OF LATVIA

Ivars Godmanis