1! ' ' 11 j: 1 (. " '! ~ r!!' AGREEMENT BETWEEN THE GOVERNl\E\T OF THE REPUBLC OF NDONESA AND THE GOVERN\E~T OF THE REPUBLC OF THE SUDAN CONCERNE\G THE PRO\OTON AND PROTECTO' OF r:\vestl\e~ts The Government of the Republc of ndonesa and the Government of the Republc of the Sudan (herenafter referred to as "Contractng Partes"); Bearng n mnd the frendly and cooperatve relatons exstng between the two countres and ther peoples; ntendng to create favourable condtons for nvestments by natonals of one Contractng Party on the bass of soveregn equalty and mutual beneft; and Recognzng that the Agreement on the Promoton and Protecton of such nvestments wll be conducve to the stmulaton of nvestment actvtes n both countres; Have agreed as fo11ov::s : ARTCLE DEFNTONS For the purpose of ths Agreement: The term "nvestments" shall mean any knd of asset nvested by natonals of one Contractng Party n the terrtory of the other Contractng Party n conformty \vth the laws and regulatons of ~he latter ncludng but not exclusvely:
~ j a. movable and mmovable property as well as other rghts such as mortgages prvleges and guarantees and any other smlar rghts; b. rzhts - derved from shares bonds or any. other form of nterest n companes or jont venture n the terntory of the other Contractng Party; c. clams to money or LO any performance havng a fnancal value; ' ' jl " : > - - l' : " 2. : 1: : : j : ;.. J. 4. d. n:ellectu2.l property rghts techncal processes goodwll and know-how e. busness concessons conferred by 12.w or under contract related to nvestment ncludng concessons to search for or explot natural resources. The term "natonal" shall comprse wth regard to ether Contractng Party: () () natural persons havng the natonalty of that Contractng Party; legal persons consttuted under the law of that Contractng Party; The term "wthout delay" shall be deemed to be fulflled f a transfer s made wthn such perod as s normally requred by nternatonal fnancal practces. "Terrtory" shall mean a. n respect of the Republc of ndonesa: The Terrtory of the Republc ofndonesa as defned n ts laws. b. n respect of the Republc of the Sudan: The Terrtory of the Republc of the Sudan as defned n ts lavs. 2
j ARTCLE PROMOTON AND PROTECTO~ OF NVESTMEKTS Ether Contractng Party shall encourage and create favourable condtons for natonals of the other Contractng Partv to nvest n ts ~ - terrtory and shall admt such captal n accordance wth ts laws and regulatons. l f 11 : - l ''l' ' t ' r < 1 ; 1 j ~ L l' 1 ; '. ; 2 nvestments of natonals of ether Contractng Party shall at all tmes be accorded far and equtable treatment and shall enjoy adequate protecton and securty n the terrtory of the other Contractng Party. ARTCLE MOST-FAVO'CRED-NATON PROVSONS Each Contractng Party shall ensure far and equtable treatment of the nvestments of natonals of the other Contractng Party and shall not mpar by unreasonable or dscrmnatory measures the operaton management mantenance use enjoyment or dsposal thereof by those natonals. Each Contractng Party shall accord to such nvestment adequate physcal securty and protecton. ; 2. More partcularly each Contractng Party shall accord to such nvestments treatment \vhch n any case shall not be less favourable than that accorded to nvestments of natonals of any thrd state.... :) f a Contractng Party has accorded specal advantages to natonals of any thrd state by vrtue of agreements establshng customs unons economc unons monetary unons or smlar nsttutons or on the bass of nterm agreements leadng to such unons of nsttutons that Contractng Party shall not be oblged to accord such advantages to natonals of the other Contractng Pany. 3
J! \: j j! j (b) ARTCLE V EXPROPRATON Each Contractng Party shall not 'ake any measures of e:-:propnatlon natonalzaton or any other dspossesson havng effect equvalent to natonalzaton or exdrooraton aganst the :-1vestments of a natonal of the " ~ other Contractng Pa.ly except under the followng condtons: (a) p (c) j'.! the measures are taken for a la\vful purpose or publc purpose and under proces:: of law; the measl..1fes are non dscrmnatory; the measures are accompaned by provsons for the payment of prompt adequate and effectve compensaton. Such compensaton shall amount to the far market value \vthout delay before the measure of dspossesson became publc kno\vledg~. Such market value shall be determned n accordance wth nternatonally acknowledged practces and methods or where such far market value cannot be determned t shall be such reasonable amount as may be mutually agreed between the Contractng Partes hereto and t shall be freely transferable n freely usable currences from the Contractng Party. ARTCLE V COMPENSAT00' FOR LOSSES l\atonals of one Contractng Party whose nvestments n the terrtory of the other Contractng Party suffer losses owng to \var or other armed conflct revoluton a state of natonal emergency revoh nsurrecton or rot n the terrtory of the latter Contractng Party shall be accorded by the latter Contractng Party treatment as regards resttutons ndemnfcaton compensaton or other settlement. 4 '.
2. The treatment shall not be less favourable than that whch the latter Contractng Party accords to ts own natonals or natonals of any thrd state whchever s more favourable to the natonals concerned. ARTCLE V TRANSFER Ether Contractng Pany shall guarantee wthn the scope of ts laws and regulatons n respect to nvestments by natonals of the other Contractng Party grant to those natonals wthout delay after duely payng ts legal fnancal and tax commtments fthere s any the transfer of : 2.. profts nterests dvdends and other current ncome; b. funds necessary () for the acquston of raw or auxlary materals sem fabrcated or fnshed products or ; c. d. e. () to replace captal assets n order to safeguard the contnuty of an nvestment; addtonal funds necessary for the development of an nvestment; funds n repayment of loans; royaltes or fees; f. earnngs of natural persons; a c the proceeds of sale or lqudaton of the nvestment; 5
h. compensaton for losses; compensaton for expropraton. 2. Such transfer shall be made at the prevalng rate of exchange on the date of transfer wth respect to current transacton n the currency to be transferred. ARTCLE vn SUBROGATON f the nvestments of a natonal of the one Contractng Party are nsured aganst non-commercal rsks under a system establshed by law any subrogaton of the nsurer or re-nsurer to the rghts of the sad natonal pursuant to the terms of such nsurance shall be recognzed by the other Contractng Party provded however that the nsurer or the re-nsurer shall not be enttled to exercse any rghts other than the rghts whch the natonal would have been enttled to exercse. l. 2. ARTCLE Vn SETTLE!\JENT OF DSPUTES BETWEEN NATONAL AND THE CONTRA..CTNG PARTY Any dspute between a Contractng Party and a natonal of the other Contractng Party concernng an nvestment of the latter n the terrtory of the former be settled amcably through consultatons and negotatons... f such a dspute cannot be settled wthn a perod of sx months from the date of a \vrtten notfcaton ether party requested amcable settlement the dspute shall at the request of the natonal concerned be 6
1 : L - l'. -:1 l' ~ ; -"!. 1.' submtted ether to the judcal procedures provded by the Contractng Party concerned or to nternatonal arbtraton or conclaton. Each Contractng Party hereby consents to submt any dspute arsng betv;een that Contractng Party and a natonal of the other Contractng Party concernng an nvestment of that natonal n the terrtory of the former Contractng Party to the nternatonal Center for Settlement of nvestment Dsputes for settlement by conclaton or arbtraton under the Conventon on the Settlement ofnvestment Dsputes bet'neen States and Natonals of other States opened for sgnature at Washngton D.C. on 18 March 1965. ARTCLE X SETTLEMENT OF DSPUTES BETWEEN THE CONTRACTNG PARTES CONCERJ.'\NG NTERPRETATON AND APPLCATON OF THE AGREEMENT Dsputes between the Contractng Partes concernng the nterpretaton or applcaton of ths Agreement should f possble be settled through dplomatc channels. ARTCLE X APPLCABLTY OF THS AGREEl\1E!\T Ths Agreement shall apply to nvestments by natonals of the Republc of the Sudan n the terrtory of the Republc of ndonesa whch have been prevously granted admsson n accordance \vth the Law No. 1 of 1967 concernng Foregn nvestment and any law amendng or replacng t and to nvestments by natonals of the Republc of ndonesa n the terrtory of the Republc of the Sudan whch have been granted admsson n accordance wth the la\vs and regulatons of the latter. 7
. ARTCLE X APPLCATON OF OTHER PROVSONS f the provsons of law of ether Contractng Party or obl:atons under nternatonal law exstng at present or establshed hereafter between the Contractng Partes 'l addton to the present Agreement contan a regulaton whether general or specfc enttlng nvestments by natonals of the other ContractnS!: Party to a treatment more favourable than s Drovded for bv the ~.. J.:'; present Agreement such regulaton shall to the extent that t s more favourable preval over the present Agreement. ARTCLE X CONSULTATON AND AME~1)MENT 2. Ether Contractng Party may request that consultatons be held on any matter concernng ths Agreement. The other Party shall accord sympathetc consderaton to the proposal and shall afford adequate opportunty for such consultatons. Ths Agreement may be amended at any ttme f deemed necessary by mutual consent. ARTCLE X ENTRY NTO FORCE DURt\TON AND TERvNATON l. The present Agreement shall enter nto force three months after the date of the late~t notfcaton by any Contractng Party of the accomplshment of ts nternal procedures of ratfcaton. t shall reman n force for a. Derod of ten -years and shall contnue n force thereafter for another perod often years and so forth unless denounced n wrtng by ether Contractng Party one year before ts expraton. 8
' ;! "! 1! " j l 1 '. ~ J n respect of nvestments made pror to the date of te1l11nat;on of ths Agreement becomes effectve the provsons of Artcle to X shall reman n force for a further perod of ten years from the date of termnaton of the present Agreement. N WTNESS VlHEREOF the undersgned duly authorzed thereto by ther respectve Govell1ments have sgned ths Agreement..- f.'" D. d l' t Kh rt /0 r.d;jr!.<q.zy/ujc d. A l' one ll up lca e al a oum on... j.. z/ll1 n oneslan raolc and Englsh languages. All texts are equally authentc. f there s any dvergence concell1ng the nterpretaton the Englsh text shall preval. 11 11 : 1 -:1 " FOR T.HE GOVER.c"l\lv1ENT OF FOR THE GOVERt"'Th![ENT OF THE PUBLC OF N1)O~r:SA k0. THE REPu13LC OF THE Su1)AN D.M. BROTODNNGRAT Drector General For nternatonal Economc Relatons Department for Foregn Affars Drector General External Relatons Mnstry of External Relatons 9