Decreto

Decreto n.º 18/2000

Aprova o Acordo entre a República Portuguesa e os Estados Unidos Mexicanos sobre a Promoção e Protecção Recíprocas de Investimentos, assinado na cidade do México em 11 de Novembro de 1999

Capítulo I - Disposições gerais

Artigo 1.º

Definições

Para efeitos do presente Acordo:

1) O termo «investimento» compreenderá toda a espécie de bens e direitos investidos por investidores de uma das Partes Contratantes no território da outra Parte Contratante, nos termos da legislação da última, incluindo, em particular mas não exclusivamente:

a)Propriedade sobre móveis e imóveis adquirida ou utilizada para fins económicos, bem como quaisquer outros direitos reais, tais como hipotecas, garantias, penhores e direitos análogos;
b)Acções, quotas, instrumentos de dívida ou outras partes sociais que representem o capital de sociedades ou quaisquer outras formas de participação e ou interesses económicos resultantes da respectiva actividade;
c)Direito a valores pecuniários, a outros bens ou a outras prestações com valor económico, excepto:
1. i)Direito a valores pecuniários derivados apenas de contratos comerciais relativos à venda de bens ou serviços;
2. ii)Extensão de créditos relacionada com uma transacção comercial, tal como créditos ao comércio;
3. iii)Créditos com prazo inferior a três anos;

realizados por um investidor no território de uma Parte Contratante em relação a outro investidor no território da outra Parte Contratante. No entanto, a excepção relativa a créditos com um prazo inferior a três anos não se aplicará a créditos concedidos por um investidor de uma Parte Contratante a uma empresa da outra Parte Contratante detida por este investidor;

d)Direitos de propriedade intelectual, tais como direitos de autor, patentes, modelos de utilidade e desenhos industriais, marcas, denominações comerciais, segredos comerciais e industriais, processos técnicos, know-how e clientela (aviamento);
e)Concessões conferidas por força de lei, nos termos de contrato ou acto administrativo, emanado por uma autoridade pública competente;
f)Bens que, no âmbito e em conformidade com a legislação e respectivos contratos de locação, sejam colocados à disposição de um locador no território de uma Parte Contratante.
Qualquer alteração na forma de realização dos investimentos não afectará a sua qualificação como investimentos, desde que essa alteração seja feita de acordo com a legislação da Parte Contratante, no território da qual os investimentos tenham sido realizados.
Uma obrigação de pagamento de, ou a concessão de crédito a uma Parte Contratante ou a uma empresa pública, não é considerada investimento;
2) O termo «rendimentos» designará os proveitos gerados por investimentos num determinado período, incluindo, em particular mas não exclusivamente, lucros, dividendos, juros, royalties, pagamentos por conta de assistência técnica ou outras formas de ganhos relacionados com o investimento.
Os rendimentos dos investimentos gozarão da mesma protecção concedida aos investimentos.
Caso os rendimentos de investimentos na definição que acima lhes é dada venham a ser reinvestidos, os rendimentos resultantes desse reinvestimento serão havidos também como rendimentos do primeiro investimento;
3) O termo «investidores» designa:
a)Pessoas singulares, com a nacionalidade de qualquer das Partes Contratantes, nos termos da respectiva legislação; e
b)Pessoas colectivas, incluindo empresas, sociedades comerciais ou outras sociedades ou associações que tenham sede no território de uma das Partes Contratantes, estejam constituídas e funcionem de acordo com a legislação dessa Parte Contratante;
4) O termo «território» compreenderá o território de cada uma das Partes Contratantes, tal como se encontra definido na respectiva legislação, incluindo o mar territorial ou qualquer outra zona marítima adjacente à costa da Parte Contratante em questão, sobre a qual a Parte Contratante em questão exerça, de acordo com o direito internacional, soberania, direitos soberanos ou jurisdição.

Artigo 2.º

Promoção e protecção dos investimentos

1 -Ambas as Partes Contratantes promoverão e encorajarão, na medida do possível, a realização de investimentos por investidores da outra Parte Contratante no seu território, admitindo tais investimentos de acordo com a respectiva legislação. Em qualquer caso, concederão aos investimentos tratamento justo e equitativo.
2 -Os investimentos realizados por investidores de uma das Partes Contratantes no território da outra Parte Contratante em conformidade com as disposições legais vigentes nesse território gozarão de plena protecção e segurança no território da última.
3 -As Partes Contratantes não sujeitarão a gestão, manutenção, uso, fruição ou disposição dos investimentos realizados no seu território por investidores da outra Parte Contratante a medidas arbitrárias ou de carácter discriminatório.
4 -A extensão legal, alteração ou transformação de um investimento deverão ser consideradas como um novo investimento.

Artigo 3.º

Tratamento nacional e da nação mais favorecida

1 -Os investimentos realizados por investidores de uma das Partes Contratantes no território da outra Parte Contratante, bem como os rendimentos deles resultantes, serão objecto de tratamento justo e equitativo e não menos favorável do que o concedido pela última Parte Contratante aos investimentos dos seus próprios investidores ou aos investimentos de investidores de terceiros Estados.
2 -Ambas as Partes Contratantes concederão aos investidores da outra Parte Contratante, no que respeita à gestão, manutenção, uso, fruição ou disposição dos investimentos realizados no seu território, um tratamento justo e equitativo e não menos favorável do que o concedido aos seus próprios investidores ou a investidores de terceiros Estados.
3 -As disposições deste artigo não implicam a concessão de tratamento de preferência ou privilégio por uma das Partes Contratantes a investidores da outra Parte Contratante que possa ser outorgado em virtude de:
1. a)Participação em zonas de comércio livre, uniões aduaneiras, mercados comuns existentes ou a criar e em outros acordos internacionais similares, incluindo outras formas de cooperação económica a que qualquer das Partes Contratantes tenha aderido ou venha a aderir; e
2. b)Acordos bilaterais, multilaterais, com carácter regional ou não, de natureza total ou parcialmente fiscal.

Artigo 4.º

Expropriação e indemnização

1 -Os investimentos efectuados por investidores de uma das Partes Contratantes no território da outra Parte Contratante não poderão ser expropriados ou nacionalizados, directa ou indirectamente, ou sujeitos a outras medidas com efeitos equivalentes à expropriação ou nacionalização (adiante designadas por expropriação), excepto por força da lei, no interesse público, sem carácter discriminatório e mediante indemnização.
2 -A indemnização deverá corresponder ao valor de mercado que os investimentos expropriados tinham à data imediatamente anterior ao momento em que a expropriação tenha ocorrido ou ao momento em que a futura expropriação seja do conhecimento público, contando, para o efeito, a primeira das datas. A indemnização deverá ser paga sem demora, vencerá juros à taxa bancária usual, desde a data da expropriação até à data da sua liquidação, e deverá ser completamente realizável e livremente transferível.
Os critérios de avaliação da indemnização deverão incluir o valor corrente, o valor de activo, incluindo o valor declarado para fins fiscais de bens tangíveis, e outros critérios apropriados à determinação do valor de mercado.
3 -O investidor cujos investimentos tenham sido expropriados terá direito, de acordo com a legislação da Parte Contratante no território da qual os bens tiverem sido expropriados, à pronta revisão do seu caso, em processo judicial ou outro, e à avaliação dos seus investimentos, de acordo com os princípios definidos neste artigo.

Artigo 5.º

Compensação por perdas

Os investidores de uma das Partes Contratantes que venham a sofrer perdas nos investimentos realizados no território da outra Parte Contratante em virtude de guerra ou outros conflitos armados, revolução, estado de emergência nacional ou outros eventos considerados equivalentes pelo direito internacional receberão dessa Parte Contratante tratamento não menos favorável do que o concedido por essa Parte Contratante aos investimentos dos seus próprios investidores ou de investidores de terceiros Estados, consoante o que for mais favorável, no que diz respeito à restituição, indemnizações ou outros factores pertinentes. As compensações daí resultantes deverão ser transferíveis livremente e sem demora.

Artigo 6.º

Transferências

1 -Ambas as Partes Contratantes, em conformidade com a respectiva legislação, garantirão aos investidores da outra Parte Contratante a livre transferência para dentro e para fora do território sem demora das importâncias relacionadas com os investimentos, em particular mas não exclusivamente:
1. a)Do capital e das importâncias adicionais necessárias à manutenção ou ampliação dos investimentos;
2. b)Os rendimentos;
3. c)As importâncias necessárias para o serviço, reembolso e amortização de empréstimos, reconhecidas por ambas as Partes Contratantes como investimentos;
4. d)O produto resultante da alienação ou da liquidação total ou parcial dos investimentos;
5. e)As indemnizações ou outros pagamentos previstos nos artigos 4.º e 5.º deste Acordo;
6. f)De quaisquer pagamentos realizados de acordo com o artigo 7.º;
7. g)Os salários de trabalhadores estrangeiros autorizados a trabalhar, em conexão com o investimento, no território da outra Parte Contratante;
8. h)Os pagamentos emergentes da resolução de um diferendo.
2 -As transferências referidas neste artigo serão efectuadas sem demora, em moeda convertível, à taxa de câmbio aplicável na data de transferência.
3 -Para os efeitos do presente artigo entender-se-á que uma transferência foi realizada «sem demora» quando a mesma for efectuada dentro do prazo normalmente necessário para o cumprimento das formalidades indispensáveis, o qual não poderá em caso algum exceder dois meses a contar da data de apresentação do requerimento de transferência.
4 -No caso de se verificarem sérias dificuldades ao nível de balança de pagamentos ou de existir uma ameaça de dificuldades desse tipo, cada Parte Contratante pode, temporariamente, restringir as transferências, desde que essa Parte Contratante implemente medidas ou programas de acordo com os níveis impostos pelo Fundo Monetário Internacional. As restrições previstas neste parágrafo deverão ser impostas numa base não discriminatória, em boa fé, e não poderão exceder os meios considerados necessários para fazer face à situação da balança de pagamentos.

Artigo 7.º

Sub-rogação

No caso de uma das Partes Contratantes ou a agência por ela designada efectuar um pagamento a um dos seus investidores em virtude de uma indemnização, garantia ou contrato de seguro contra riscos não comerciais, prestada a um investimento realizado no território da outra Parte Contratante, esta Parte Contratante reconhecerá a atribuição de todos os direitos ou reclamações do investidor à Parte Contratante em questão ou à agencia por ela designada assim como o direito que a estas cabe de exercerem, por força de sub-rogação, todos os direitos ou reclamações nos mesmos termos e condições que o titular originário. No que concerne a transferência de pagamentos para a Parte Contratante em virtude de tal atribuição, aplicam-se, mutatis mutandis, os artigos 4.º, 5.º e 6.º do presente Acordo.

Em caso de diferendo, todavia, apenas o investidor para tal designado ou uma agência privada para tal designada poderão iniciar ou participar nos procedimentos ante um tribunal nacional ou submeter o caso a arbitragem internacional, de acordo com as disposições da secção I do capítulo 2.º

Capítulo II - Resolução de diferendos

Secção I - Resolução de diferendos entre uma Parte Contratante e um investidor da outra parte contratante

Artigo 8.º

Âmbito de aplicação e direito de acção

1 -Esta secção aplica-se aos diferendos surgidos entre uma Parte Contratante e um investidor da outra Parte Contratante relacionados com um alegado incumprimento de uma obrigação por parte da última, nos termos do presente Acordo, que cause perda ou dano ao investidor ou ao seu investimento. Um investimento de um investidor da outra Parte Contratante não poderá submeter um diferendo a resolução nos termos deste Acordo.
2 -Caso um investidor submeta um pedido a arbitragem, nos termos desta secção, não poderá, tal como o seu investimento, iniciar ou continuar qualquer procedimento ante um tribunal nacional, excepto quando tais procedimentos se relacionem com medidas cautelares de carácter suspensivo, tenham natureza de simples apreciação ou carácter extraordinário, não impliquem o pagamento de danos, decorram perante tribunais administrativos ou judiciais, nos termos da legislação da Parte em disputa. Se um investidor ou o respectivo investimento iniciar um procedimento perante um tribunal nacional, não poderá submeter o mesmo caso a arbitragem.

Artigo 9.º

Meios de resolução prazos

1 -Um investidor pode optar por submeter um diferendo:
1. a)A um tribunal judicial ou administrativo da Parte Contratante parte no diferendo;
2. b)De acordo com qualquer procedimento de resolução de diferendos aplicável previamente acordado;
3. c)À arbitragem, de acordo com as provisões do presente artigo:
  1. i)Nos termos da Convenção para a Resolução de Diferendos entre Estados e Nacionais de Outros Estados (Convenção CIRDI), caso a Parte Contratante do investidor e a Parte Contratante em disputa sejam parte da Convenção CIRDI;
  2. ii)De acordo com o mecanismo suplementar previsto para a administração de procedimentos pelo Secretariado do CIRDI, caso a Parte Contratante do investidor ou a Parte Contratante em disputa, mas não ambas, seja parte da Convenção CIRDI; ou
  3. iii)Nos termos das regras de arbitragem da Comissão das Nações Unidas sobre Direito Comercial Internacional (CNUDCI).
2 -O procedimento arbitral seguirá as regras de arbitragem aplicáveis, excepto no que for alterado por força da presente secção.
3 -Um diferendo poderá ser submetido a resolução nos termos do n.º 1, alínea c), desde que tenham decorrido seis meses de consultas ou negociações, contados desde a ocorrência dos factos que estão na origem do diferendo e o investidor tenha notificado, por escrito, a Parte Contratante em disputa da sua intenção de submeter o diferendo à arbitragem, com uma antecedência mínima de 90 dias, mas nunca após terem decorrido três anos sobre a data em que o investidor tomou ou deveria ter tomado conhecimento dos factos em questão.
4 -A notificação prevista no n.º 3 deverá especificar:
1. a)O nome e endereço do investidor e do investimento em causa;
2. b)As disposições do presente Acordo cujo incumprimento se alega e quaisquer outras consideradas relevantes;
3. c)Os factos e bases do pedido;
4. d)O pedido e o montante aproximado dos danos alegados.

Artigo 10.º

Consentimento da Parte Contratante

Cada Parte Contratante dá o seu consentimento incondicional à submissão de um diferendo a arbitragem internacional, nos termos da presente secção.

Artigo 11.º

Formação do tribunal arbitral

1 -O tribunal arbitral deverá ser composto por três membros, excepto se acordado de outro modo. Cada uma das partes deverá nomear um dos membros e ambas deverão nomear, por acordo, um terceiro membro como presidente, que, em qualquer caso, deverá ser nacional de um terceiro Estado com o qual ambas as Partes Contratantes mantenham relações diplomáticas.
2 -Os membros dos tribunais arbitrais deverão possuir experiência em direito internacional e em investimento.
3 -Caso o tribunal arbitral não esteja constituído dentro do prazo de 90 dias contados a partir da data em que o pedido foi submetido a arbitragem, quer porque uma das partes não nomeou um membro do tribunal quer porque não foi alcançado acordo quanto ao presidente, o Secretário-Geral do CIRDI deverá, a pedido de qualquer das partes, nomear o membro ou membros em falta. Em qualquer dos casos, o Secretário-Geral do CIRDI, ao proceder às nomeações, deverá assegurar-se de que o presidente não é nacional de qualquer das Partes Contratantes.

Artigo 12.º

Consolidação

1 -Nos termos do presente artigo e das regras de arbitragem da CNUDCI, deverá ser instalado um tribunal de consolidação, que se regerá pelas regras mencionadas, excepto no que for especificado nesta secção.
2 -Os procedimentos serão consolidados:
1. a)Quando dois ou mais investidores, relativamente ao mesmo investimento, tiverem submetido um pedido a arbitragem, nos termos do presente Acordo; ou
2. b)Quando dois ou mais pedidos com origem em matérias de direito ou de facto comuns tiverem sido submetidos a arbitragem.
3 -O tribunal de consolidação decidirá quanto à jurisdição dos pedidos e deverá apreciá-los em conjunto, excepto se determinar que tal procedimento prejudicará seriamente os interesses de qualquer das partes.

Artigo 13.º

Local da arbitragem

Os procedimentos arbitrais previstos na presente secção deverão, a pedido de qualquer das partes em disputa, ter lugar num Estado parte da Convenção de Nova Iorque. Os pedidos submetidos a arbitragem nos termos da presente secção deverão considerar-se como tendo origem numa relação ou transação comercial, para efeitos do artigo 1.º da Convenção de Nova Iorque.

Artigo 14.º

Indemnização

As Partes Contratantes não invocarão como defesa, contestação, direitos de compensação ou qualquer outra razão que a indemnização ou outra compensação por todos ou parte dos prejuízos alegados foi recebida ou será recebida por força de um contrato de indemnização, garantia ou seguro.

Artigo 15.º

Direito aplicável

1 -Os tribunais estabelecidos conforme o presente mecanismo de resolução de diferendos decidirão os casos a eles submetidos nos termos do presente Acordo e das disposições e princípios de direito internacional aplicáveis.
2 -A interpretação de qualquer disposição do presente Acordo, formulada e acordada por ambas as Partes Contratantes, será vinculativa para qualquer tribunal estabelecido nos termos do presente mecanismo de resolução de diferendos. Se uma das Partes Contratantes não apresentar uma interpretação no prazo de 60 dias a contar da data do pedido da outra Parte Contratante, o tribunal decidirá a questão.

Artigo 16.º

Decisões e execução

1 -As decisões arbitrais poderão proporcionar o seguinte:
1. a)Uma declaração de que a Parte Contratante não cumpriu as suas obrigações, ao abrigo do presente Acordo;
2. b)Uma compensação pecuniária, que incluirá juros;
3. c)Restituição em espécie, nos casos apropriados, desde que a Parte Contratante possa pagar uma compensação pecuniária, caso a restituição não seja viável; e
4. d)Com o acordo das partes em disputa, outra forma de compensação.
2 -As decisões arbitrais deverão ser definitivas e vinculativas apenas em relação às partes em disputa e aos casos em questão.
3 -A decisão final apenas será publicada caso haja acordo por escrito de ambas as partes em disputa.
4 -Um tribunal arbitral não deverá condenar uma Parte Contratante no pagamento de sanções.
5 -Cada Parte Contratante deverá, no seu território, assegurar a efectiva execução das decisões emitidas em conformidade com este artigo e, quando foi parte num dos procedimento descritos, deverá executar tais decisões sem demora.
6 -Os investidores poderão recorrer à Convenção CIRDI ou à Convenção de Nova Iorque para execução das decisões arbitrais, caso ambas as Partes Contratantes sejam parte das referidas Convenções.

Secção II - Resolução de diferendos entre as Partes Contratantes

Artigo 17.º

Âmbito de aplicação, meios de resolução e prazos

1 -Os diferendos que surjam entre as Partes Contratantes sobre a interpretação ou aplicação do presente Acordo serão, na medida do possível, resolvidos de forma amigável ou através de consultas, mediação ou conciliação.
2 -Se as Partes Contratantes não chegarem a acordo no prazo de seis meses após o início das negociações, o diferendo será submetido, a pedido de qualquer das Partes Contratantes, a um tribunal arbitral, nos termos do presente artigo.
3 -As Partes Contratantes não iniciarão qualquer procedimento nos termos do presente mecanismo de resolução de diferendos, em relação a um diferendo originado pela violação dos direitos de um investidor, caso o investidor tenha submetido o diferendo aos procedimentos previstos na secção I, excepto se a outra Parte Contratante não tiver cumprido a decisão emitida. Neste caso, o tribunal arbitral estabelecido em conformidade com a presente secção, a pedido da Parte Contratante cujo investidor foi parte no mencionado diferendo, poderá emitir:
1. a)Uma declaração de que a falta de cumprimento de uma decisão final viola as obrigações da outra Parte Contratante, nos termos do presente Acordo;
2. b)Uma recomendação à outra Parte Contratante para que cumpra a decisão final.
4 -O tribunal arbitral será constituído, ad hoc, do seguinte modo: cada Parte Contratante designará um membro e ambos os membros proporão um nacional de um terceiro Estado, com o qual ambas as Partes Contratantes mantenham relações diplomáticas, como presidente, que será nomeado pelas duas Partes Contratantes. Os membros serão nomeados no prazo de dois meses e o presidente no prazo de três meses a contar da data em que uma das Partes Contratantes tiver comunicado à outra a intenção de submeter o diferendo a um tribunal arbitral.
5 -Se os prazos fixados no n.º 4 do presente artigo não forem observados, qualquer das Partes Contratantes poderá, na falta de outro acordo, solicitar ao Presidente do Tribunal Internacional de Justiça que proceda às necessárias nomeações. Se o Presidente estiver impedido ou for nacional de uma das Partes Contratantes, as nomeações caberão ao Vice-Presidente. Se este também estiver impedido ou for nacional de uma das Partes Contratantes, as nomeações caberão ao membro do Tribunal que se siga na hierarquia, desde que esse membro não seja nacional de qualquer das Partes Contratantes.
6 -O tribunal arbitral decidirá os diferendos em conformidade com o presente Acordo e com as regras e princípios de direito internacional aplicáveis.
7 -O tribunal arbitral decidirá por maioria de votos. As suas decisões serão definitivas e vinculativas para ambas as Partes Contratantes. A cada Parte Contratante caberá suportar as despesas do respectivo árbitro, bem como da respectiva representação no processo perante o tribunal arbitral. Ambas as Partes Contratantes suportarão em partes iguais as despesas do presidente, bem como as demais despesas. O Tribunal Arbitral poderá adoptar um regulamento diferente quanto às despesas.
Em todas as outras matérias, o tribunal arbitral definirá as suas próprias regras processuais.
8 -O tribunal arbitral, na sua decisão, deverá especificar as razões de facto e direito, assim como as daí resultantes, e poderá, a pedido de uma das Partes Contratantes, emitir:
1. a)Uma declaração de que uma acção de uma Parte Contratante viola as obrigações constantes do presente Acordo;
2. b)Uma recomendação à outra Parte Contratante para que actue em conformidade com as obrigações constantes do presente Acordo;
3. c)Outra decisão, desde que a Parte Contratante contra a qual é emitida consinta.

Capítulo III - Disposições finais

Artigo 18.º

Aplicação de outras regras

1 -Se para além do presente Acordo as disposições da lei interna de uma das Partes Contratantes ou as obrigações emergentes do direito internacional em vigor ou que venha a vigorar entre as duas Partes Contratantes estabelecerem um regime, geral ou especial, que confira aos investimentos efectuados por investidores da outra Parte Contratante um tratamento mais favorável do que o previsto do presente Acordo, prevalecerá sobre este o regime mais favorável.
2 -Ambas as Partes Contratantes deverão cumprir eventuais obrigações, não incluídas no presente Acordo, assumidas em relação aos investimentos realizados por investidores da outra Parte Contratante no seu território. Os diferendos emergentes de tais obrigações deverão ser resolvidos nos termos dos acordos específicos, base das referidas obrigações.

Artigo 19.º

Aplicação do Acordo

O presente Acordo aplicar-se-á a todos os investimentos realizados por investidores de uma das Partes Contratantes no território da outra Parte Contratante, antes e após a sua entrada em vigor, em conformidade com as respectivas disposições legais, com excepção dos diferendos relativos a investimentos emergentes antes da respectiva entrada em vigor.

Artigo 20.º

Consultas

Os representantes das Partes Contratantes deverão, sempre que necessário, realizar consultas sobre qualquer matéria relacionada com a interpretação e aplicação deste Acordo. Estas consultas serão realizadas sob proposta de qualquer das Partes Contratantes, podendo estas, se necessário, propor a realização de reuniões, em lugar e data a acordar por via diplomática.

Artigo 21.º

Entrada em vigor e duração

1 -Este Acordo entrará em vigor 30 dias após a data em que ambas as Partes Contratantes tiverem notificado uma à outra, por escrito, do cumprimento dos respectivos procedimentos constitucionais ou legais internos requeridos para o efeito.
2 -Este Acordo permanecerá em vigor por um período de 10 anos, que será prorrogável por iguais períodos, excepto se o Acordo for denunciado por escrito por qualquer das Partes Contratantes com a antecedência de 12 meses da data do termo do período em curso.
3 -Ocorrendo o término do presente Acordo, nos termos do número precedente, e relativamente aos investimentos já realizados, as disposições dos artigos 1.º a 20.º continuarão em vigor por mais um período de 10 anos a partir da data de denúncia do presente Acordo.
Feito em duplicado, na cidade do México, no dia 11 de Novembro de 1999, nas línguas portuguesa, espanhola e inglesa, todos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá a versão inglesa.
Pela República Portuguesa:
Vítor Ramalho.
Pelos Estados Unidos Mexicanos:
Herminio Blanco.
PROTOCOLO
Por ocasião da assinatura do Acordo sobre Promoção e Protecção Recíprocas de Investimentos entre a República Portuguesa e os Estados Unidos Mexicanos, os plenipotenciários abaixo assinados acordaram ainda nas seguintes disposições, que constituem parte integrante do referido Acordo:
Com respeito ao artigo 3.º do presente Acordo:
As Partes Contratantes consideram que as disposições do artigo 3.º do presente Acordo não prejudicam o direito de qualquer das Partes Contratantes aplicar as disposições pertinentes do seu direito fiscal que estabeleçam, nos termos da respectiva legislação, uma distinção entre contribuintes que não se encontrem em idêntica situação no que se refere ao seu lugar de residência ou ao lugar em que o capital é investido.
Feito em duplicado, na cidade do México, no dia 11 de Novembro de 1999, nas línguas portuguesa, espanhola e inglesa, todos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá a versão inglesa.
Pela República Portuguesa:
Vítor Ramalho.
Pelos Estados Unidos Mexicanos:
Herminio Blanco.
(ver texto em língua espanhola no documento original)
AGREEMENT BETWEEN THE PORTUGUESE REPUBLIC AND THE UNITED MEXICAN STATES ON THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS.
The Portuguese Republic and the United Mexican States, hereinafter referred to as the «Contracting Parties»:
Desiring to intensify the economic co-operation between the two States;
Intending to encourage and create favourable conditions for investments made by investors of one Contracting Party in the territory of the other Contracting Party on the basis of equality and mutual benefit;
Recognising that the mutual promotion and protection of investments on the basis of this Agreement will stimulate business initiative;
have agreed as follows:
CHAPTER 1
General provisions
Article 1
Definitions
For the purpose of this Agreement:
1) The term «investment» shall mean every kind of asset and rights invested by investors of one Contracting Party in the territory of the other Contracting Party in accordance with the laws and regulations of the latter including, in particular, though not exclusively:
1. a)Movable and immovable property, acquired or used for economic purposes, as well as any other rights in rem, such as mortgages, liens, pledges and similar rights;
2. b)Shares, stocks, debentures, or other forms of interest in the equity of companies or other forms of participation and/or economic interests from the respective activity;
3. c)Claims to money, to other assets and to any performance having an economic value, except for:
  1. i)Claims to money that arise solely from commercial contracts for the sale of goods or services;
  2. ii)The extension of credits in connection with a commercial transaction, such as trade financing;
  3. iii)Credits with a maturity of less than three years;
by an investor in the territory of a Contracting Party to an investor in the territory of the other Contracting Party. However, the exception concerning credits with a maturity of less than three years, shall not apply to credits granted by an investor of a Contracting Party to a company of the other Contracting Party owned by the former investor;
1. d)Intellectual property rights such as copyrights, patents, utility models, industrial designs, trade marks, trade names, trade and business secrets, technical processes, know-how and good will;
2. e)Concessions conferred by law under a contract or administrative act of a competent authority;
3. f)Assets that are placed at the disposal of a lessee, in the territory of a Contracting Party, under a leasing agreement and in conformity with its laws and regulations.
  Any alteration on the form in which assets are invested does not affect their character as investments, provided that such alteration is included in the aforesaid definition and do not contradict the laws and regulations of the Contracting Party in which territory the investment was made.
  A payment obligation from, or the granting of a credit to a Contracting Party or to a state enterprise is not considered an investment;
  2) The term «returns» shall mean the amount yielded by investments, over a given period, in particular, though not exclusively, shall include profits, dividends, interests, royalties, technical assistance fees or other forms of income related to the investment.
  The returns of investments shall be subject to the same protection given to investment.
  In cases where the returns of investments, as defined above, are reinvested, the income resulting from the reinvestment shall also be considered as income related to the first investment;
  3) The term «investor» means:
4. a)Natural persons having the nationality of either Contracting Party, in accordance with its laws and regulations; and
5. b)Legal persons, including corporations, commercial companies or other companies or associations, which have a main office in the territory of one of the Contracting Parties, and are incorporated or constituted and operate in accordance with the laws and regulations of that Contracting Party;
  4) The term «territory» means the territory of either of the Contracting Parties, as defined by their respective laws and regulations, including the territorial sea or any other maritime area adjacent to the coast of the Contracting Party concerned, over which such a Contracting Party exercises, in accordance with international law, sovereignty, sovereign rights or jurisdiction.
  Article 2
  Promotion and protection of investments
1 -Each Contracting Party shall promote and encourage, as far as possible, within its territory investments made by investors of the other Contracting Party and shall admit such investments into its territory in accordance with its laws and regulations. It shall in any case accord such investments fair and equitable treatment.
2 -Investments made by investors of one Contracting Party in the territory of the other Contracting Party in accordance with its laws and regulations shall enjoy full protection and security in the territory of the latter.
3 -Neither Contracting Party shall in any way impair by arbitrary or discriminatory measures, the management, maintenance, use, enjoyment or disposal of investments in its territory of investors of the other Contracting Party.
4 -The legal extension, alteration or transformation of an investment is to be considered a new investment.
Article 3
National and most favoured nation treatment
1 -Investments made by investors of one Contracting Party in the territory of the other Contracting Party, as well as the returns therefrom, shall be accorded treatment which is fair and equitable and not less favourable than the one the latter Contracting Party accords to the investments of its own investors or investments of investors of any third State.
2 -Both Contracting Parties shall accord to investors of the other Contracting Party, as regards the management, maintenance, use, enjoyment or disposal of their investments made in their territory, treatment which is fair and equitable and not less favourable than the one the latter Contracting Party accords to its own investors or to investors of any third State.
3 -The provisions of this article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of:
1. a)Existing or future free trade area, customs union, common market or other similar international agreements including other forms of economic cooperation to which either of the Contracting Parties is or may become a Party; and
2. b)Bilateral and multilateral agreements, having or not regional nature, relating wholly or mainly to taxation.
  Article 4
  Expropriation and compensation
1 -Neither Contracting Party shall expropriate or nationalise an investment either directly or indirectly through measures tantamount to expropriation or nationalisation (hereinafter referred to as «expropriation»), except by virtue of law, for a public purpose, on a non-discriminatory basis and against compensation.
2 -Such compensation shall be equivalent to the market value of the expropriated investment immediately before the expropriation took place or before it became publicly known, whichever occurs first. The compensation shall be paid without delay, shall include the usual commercial interest from the date of the expropriation until the date of payment and shall be fully realisable and freely transferable.
Valuation criteria shall include the going concern value, asset value, including declared tax value of tangible property, and other criteria, as appropriate, to determine the market value.
3 -The investor whose investment is expropriated, shall have the right under the laws and regulations of the expropriating Contracting Party to the prompt review by a judicial or other competent authority of that Contracting Party of its case and of valuation of its investment in accordance with the principles set out in this article.
Article 5
Compensation for losses
Investors of either Contracting Party whose investment suffer losses in the territory of the other Contracting Party owing to war or armed conflict, revolution, a state of national emergency or other events considered as such by international law, shall be accorded treatment no less favourable by the latter Contracting Party than the one that Contracting Party accords to the investments of its own investors, or of any third State, whichever is more favourable, as regards restitution, indemnification or other valuable consideration. Any payment made under this article shall be freely transferable without delay.
Article 6
Transfers
1 -Pursuant to its own laws and regulations, each Contracting Party shall ensure that all sums relating to an investment by an investor of the other Contracting Party may be freely transferred into and out of its territory without delay. Such transfers shall include, in particular:
1. a)Capital and additional amounts necessary to maintain or increase the investments;
2. b)The returns;
3. c)Sums necessary for the service, repayment and amortisation of loans, recognised by both Contracting Parties to be an investment;
4. d)The proceeds obtained from the sale or from the total or partial liquidation of the investment;
5. e)Any compensation or other payment referred to in articles 4 and 5;
6. f)Any payment made in accordance with article 7;
7. g)Wages earned by foreign workers, dully authorised to work in connection with the investment in the territory of the other Contracting Party;
8. h)Payments arising out of the settlement of a dispute.
2 -The transfers referred to in this article shall be made without delay at the exchange rate applicable on the date of the transfer in convertible currency.
3 -For the purposes of the present article, a transfer will be considered as done without delay when such a transfer takes place within the time normally used for the fulfilment of the necessary formalities, which should in any circumstances exceed two months from the date the requirement for transfer was presented.
4 -In case of a serious balance of payments difficulties or the threat thereof, each Contracting Party may temporarily restrict transfers, provided that such a Contracting Party implements measures or a programme in accordance with the International Monetary Fund's standards. This restriction would be imposed on an equitable, non-discriminatory and in good faith basis, and may not go beyond what is necessary to remedy the balance of payments situation.
Article 7
Subrogation
If a Contracting Party or its designated agency makes a payment under an indemnity, guarantee or contract of insurance against non commercial risks given in respect of an investment by an investor in the territory of the other Contracting Party, the latter Contracting Party shall recognise the assignment of any right or claim of such investor to the former Contracting Party or its designated agency and the right of the former Contracting Party and its designated agency to exercise by virtue of subrogation any such right or claim to the same extent as its predecessor in title. As regards the transfer of payments to the Contracting Party concerned by virtue of such assignment, articles 4, 5 and 6 of the present Agreement shall apply mutatis mutandis.
However, in case of a dispute, only the designated investor or the designated agency organised under private law may initiate or participate in proceedings before a national tribunal or submit the case to international arbitration in accordance with the provisions of part 1, chapter 2.
CHAPTER 2
Dispute settlement
PART 1
Settlement of disputes between a Contracting Party and an investor of the other Contracting Party
Article 8
Scope and standing
1 -This part applies to disputes between a Contracting party and an investor of the other Contracting Party concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or its investment. An investment by an investor of the other Contracting Party may not submit a dispute for resolution under this Agreement.
2 -If an investor submits a claim to arbitration under this part, neither he nor its investment may initiate or continue proceedings before a national tribunal, except for proceedings for injunctive, declaratory or other extraordinary relief, not involving the payment of damages, before an administrative tribunal or court under the law of the disputing Party. If an investor or its investment initiates proceedings before a national tribunal, the investor may not submit a claim to arbitration under this part.
Article 9
Means of settlement and time periods
1 -An investor may choose to submit a dispute for resolution:
1. a)To any competent courts or administrative tribunals of the Contracting Party to the dispute;
2. b)In accordance with any applicable previously agreed dispute settlement procedure; or
3. c)By arbitration in accordance with this article under:
  1. i)The Convention on the Settlement of Investment Disputes between States and Nationals of other States (the «ICSID Convention»), if the Contracting Party of the investor and the Contracting Party to the dispute are both parties to the ICSID Convention;
  2. ii)The Additional Facility Rules of the Centre for Settlement of Investment Disputes («ICSID Additional Facility»), if the Contracting Party of the investor or the Contracting Party to the dispute, but not both, is a party to the ICSID Convention; or
  3. iii)The Arbitration Rules of the United Nations Commission on International Trade Law («UNCITRAL»).
2 -The applicable arbitration rules shall govern the arbitration except to the extent modified by this part.
3 -A dispute may be submitted for resolution pursuant to paragraph 1, c), provided that six months for consultation or negotiation have elapsed since the events giving rise to the claim occurred and provided that the investor has delivered to the Contracting Party, party to the dispute, written notice of its intention to submit it claim to arbitration at least 90 days in advance, but not later than three years from the date the investor first acquired or should have acquired knowledge of the events which gave rise to the dispute.
4 -The notice referred to in paragraph 3 shall specify:
1. a)The name and address of both the disputing investor and its investment;
2. b)The provisions of this Agreement alleged to have been breached and any other relevant provisions;
3. c)The issues and the factual basis for the claim; and
4. d)The relief sought and the approximate amount of damages claimed.
  Article 10
  Contracting Party consent
  Each Contracting Party hereby gives its unconditional consent to the submission of a dispute to international arbitration in accordance with this part.
  Article 11
  Formation of the arbitral tribunal
1 -Unless the parties to the dispute agree otherwise, the arbitral tribunal shall comprise three members. Each party to the dispute shall appoint one member and the disputing Parties shall agree upon a third member as their chairman who, in any case, shall be a national of a third State with which both Contracting Parties maintain diplomatic relations.
2 -Members of arbitral tribunals shall have experience in international law and investment matters.
3 -If an arbitral tribunal has not been constituted within 90 days from the date the claim was submitted to arbitration, either because a party to the dispute failed to appoint a member or failed to agree upon a chairman, the Secretary General of ICSID, on the request of any of the parties to the dispute, shall be asked to appoint, in his discretion, the member or members not yet appointed. Nevertheless, the Secretary General of ICSID, when appointing a chairman, shall assure that the chairman is a national of neither of the Contracting Parties.
Article 12
Consolidation
1 -A tribunal of consolidation established under this article shall be installed under the UNCITRAL Arbitration Rules and shall conduct its proceedings in accordance with those Rules, except as modified by this part.
2 -Proceedings will be consolidated:
1. a)When two or more investors in relation with the same investment submit a claim to arbitration under this Agreement; or
2. b)When two or more claims are submitted to arbitration arising common legal and factual issues.
3 -The tribunal of consolidation will decide the jurisdiction of the claims and will jointly review such claims, unless it determines that the interests of any party to the dispute are seriously harmed.
Article 13
Place of arbitration
Any arbitration under this Part shall, at the request of any party to the dispute, be held in a State that is party of the New York Convention. Claims submitted to arbitration under this Part shall be considered to arise out of a commercial relationship or transaction for purpose of article 1 of the New York Convention.
Article 14
Indemnification
A Contracting Party shall not assert as a defence, counter-claim, right of set-off or for any other reason, that indemnification or other compensation for all or part of the alleged losses or damages has been received or will be received pursuant to an indemnity, guarantee or insurance contract.
Article 15
Applicable law
1 -A tribunal established under this dispute settlement mechanism shall decide the submitted issues in dispute in accordance with this Agreement, the applicable rules of law and principles of international law.
2 -An interpretation jointly formulated and agreed by the Contracting Parties of a provision of this Agreement shall be binding on any tribunal established under this dispute settlement mechanism. If the Contracting Parties fail to submit an interpretation within 60 days from the date of the request of either Contracting Party, the tribunal shall decide the issue.
Article 16
Awards and enforcement
1 -Arbitration awards may provide the following forms of relief:
1. a)A declaration that the Contracting Party has failed to comply with its obligations under this Agreement;
2. b)Pecuniary compensation, which shall include any applicable interests;
3. c)Restitution in kind in appropriate cases, provided that the Contracting Party may pay pecuniary compensation in lieu thereof where restitution is not practicable; and
4. d)With the agreement of the parties to the dispute, any other form of relief.
2 -Arbitration awards shall be final and binding only upon the parties to the dispute and only with respect to the particular case.
3 -The final award will only be published if there is written agreement by both parties to the dispute.
4 -An arbitral tribunal shall not order a Contracting Party to pay punitive damages.
5 -Each Contracting Party shall, in its territory, make provision for the effective enforcement of awards made pursuant to this article and shall carry out without delay any such award issued in a proceeding to which it is party.
6 -An investor may seek enforcement of an arbitration award under the ICSID Convention or the New York Convention, if both Contracting Parties are parties to such instruments.
PART 2
Settlement of disputes between the Contracting Parties
Article 17
Scope, means of settlement and time periods
1 -Disputes between the Contracting Parties concerning the interpretation or application of this Agreement shall, as far as possible, be settled amicably or through consultations, mediation or conciliation.
2 -If the Contracting Parties fail to reach such settlement within six months after the beginning of negotiations the dispute shall, upon the request of either Contracting Party, be submitted to an arbitral tribunal, in accordance with the provisions of this article.
3 -A Contracting Party shall not initiate proceedings under this dispute settlement mechanism for a dispute regarding the infringement of rights of an investor which that investor has submitted to proceedings under the provisions of part 1, unless the other Contracting Party has failed to abide by or comply with the award rendered in that dispute. In this case, the arbitral tribunal established under this part, on delivery of a request by a Contracting Party whose investor was a party to the dispute, may award:
1. a)A declaration that the failure to abide by or comply with the final award is in contravention of the obligations of the other Contracting Party under this Agreement; and
2. b)A recommendation that the other Contracting Party abide by or comply with the final award.
4 -The arbitral tribunal shall be constituted ad hoc, as follows: each of the Contracting Parties shall appoint one member and these two members shall propose a national of a third State with which both Contracting Parties maintain diplomatic relations, as chairman to be appointed by the two Contracting Parties. The members shall be appointed within two months and the chairman shall be appointed within three months from the date on which either Contracting Party notifies the other that it wishes to submit the dispute to an arbitral tribunal.
5 -If the deadlines specified in paragraph 4 of this article are not complied with, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is prevented from doing so, or is a national of either Contracting Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is also a national of either Contracting Party or if he is prevented from making the appointments for any other reason, the appointments shall be made by the member of the Court who is next in seniority and who is not a national of either Contracting Party.
6 -The arbitral tribunal will decide disputes in accordance with this Agreement and the applicable rules and principles of international law.
7 -The arbitral tribunal shall rule according to majority vote. The decisions of the arbitral tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall be responsible for the costs of its own arbitrator and of its representatives at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the expenses incurred by the chairman, as well as any other expenses. The arbitral tribunal may make a different decision regarding costs.
In all other respects, the arbitral tribunal shall define its own rules of procedure.
8 -The arbitral tribunal, in its award, shall set out its findings of law and fact, together with the reasons therefore, and may, at the request of a Contracting Party, award the following forms of relief:
1. a)A declaration that an action of a Contracting Party is in contravention of its obligations under this Agreement;
2. b)A recommendation that a Contracting Party brings its actions into conformity with its obligations under this Agreement; or
3. c)Any other form of relief to which the Contracting Party against whom the award is made consents.
  CHAPTER 3
  Final provisions
  Article 18
  Application of other rules
1 -If the provisions of laws and regulations of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain a regulation, whether general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than the one provided for by this Agreement, such provisions shall, to the extent that they are more favourable than the one that is provided, prevail over this Agreement.
2 -Each Contracting Party shall observe any other obligations it has assumed in writing, with regard to investments in its territory by investors of the other Contracting Party. Disputes arising from such obligations shall be settled only under the terms of the specific agreement underlying the obligations.
Article 19
Application of the Agreement
This Agreement shall apply to all investments made by investors of one Contracting Party in the territory of the other Contracting Party in accordance with the legal provisions of the latter, prior to as well as after its entry into force, but shall not apply to any dispute concerning investments which have arisen before its entry into force.
Article 20
Consultations
Representatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter related to the interpretation and application of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties, which shall, if necessary, propose meetings at a place and a time to be agreed upon through diplomatic channels.
Article 21
Entry into force and duration
1 -This Agreement shall enter into force 30 days after the Contracting Parties notify each other in writing that their respective internal constitutional or legal procedures have been fulfilled.
2 -This Agreement shall remain in force for a period of 10 years, which shall be extended for equal periods, unless, 12 months before the expiration of the period, either Contracting Party notifies the other in writing of its intention to terminate this Agreement.
3 -In respect of investments made prior to the date of termination of this Agreement, the provisions of articles 1 to 20 shall remain in force for a further period of 10 years from the date of termination of this Agreement.
Done in duplicate at this 1111 day of November 1999 in the Portuguese, Spanish and English languages, all texts being equally authentic. In case of any divergence of interpretation, the English text shall prevail.
For the Portuguese Republic:
Vítor Ramalho.
For the United Mexican States:
Herminio Blanco.
PROTOCOL
On the occasion of the signing of the Agreement between the Portuguese Republic and the United Mexican States on the Reciprocal Promotion and Protection of Investments, the undersigned duly authorised to this effect, have agreed also on the following provision, which constitute an integral part of the said Agreement:
With reference to article 3 of this Agreement:
The Contracting Parties consider that provisions of article 3 of this Agreement shall be without prejudice to the right of either Contracting Party to apply the relevant provisions of their tax law which distinguish between tax-payers who are not in the same situation with regard to their place of residence or with regard to the place where their capital is invested.
Done in duplicate in Mexico city at this 1111 day of November 1999 in the Portuguese, Spanish and English languages, all texts being equally authentic. In case of any divergence of interpretation, the English text shall prevail.
For the Portuguese Republic:
Vítor Ramalho.
For the United Mexican States:
Herminio Blanco.

Artigo 21.º

Entrada em vigor e duração

1 -Este Acordo entrará em vigor 30 dias após a data em que ambas as Partes Contratantes tiverem notificado uma à outra, por escrito, do cumprimento dos respectivos procedimentos constitucionais ou legais internos requeridos para o efeito.
2 -Este Acordo permanecerá em vigor por um período de 10 anos, que será prorrogável por iguais períodos, excepto se o Acordo for denunciado por escrito por qualquer das Partes Contratantes com a antecedência de 12 meses da data do termo do período em curso.
3 -Ocorrendo o término do presente Acordo, nos termos do número precedente, e relativamente aos investimentos já realizados, as disposições dos artigos 1.º a 20.º continuarão em vigor por mais um período de 10 anos a partir da data de denúncia do presente Acordo.
Feito em duplicado, na cidade do México, no dia 11 de Novembro de 1999, nas línguas portuguesa, espanhola e inglesa, todos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá a versão inglesa.
Pela República Portuguesa:
Vítor Ramalho.
Pelos Estados Unidos Mexicanos:
Herminio Blanco.
PROTOCOLO
Por ocasião da assinatura do Acordo sobre Promoção e Protecção Recíprocas de Investimentos entre a República Portuguesa e os Estados Unidos Mexicanos, os plenipotenciários abaixo assinados acordaram ainda nas seguintes disposições, que constituem parte integrante do referido Acordo:
Com respeito ao artigo 3.º do presente Acordo:
As Partes Contratantes consideram que as disposições do artigo 3.º do presente Acordo não prejudicam o direito de qualquer das Partes Contratantes aplicar as disposições pertinentes do seu direito fiscal que estabeleçam, nos termos da respectiva legislação, uma distinção entre contribuintes que não se encontrem em idêntica situação no que se refere ao seu lugar de residência ou ao lugar em que o capital é investido.
Feito em duplicado, na cidade do México, no dia 11 de Novembro de 1999, nas línguas portuguesa, espanhola e inglesa, todos os textos fazendo igualmente fé. Em caso de divergência de interpretação, prevalecerá a versão inglesa.
Pela República Portuguesa:
Vítor Ramalho.
Pelos Estados Unidos Mexicanos:
Herminio Blanco.
(ver texto em língua espanhola no documento original)
AGREEMENT BETWEEN THE PORTUGUESE REPUBLIC AND THE UNITED MEXICAN STATES ON THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS.
The Portuguese Republic and the United Mexican States, hereinafter referred to as the «Contracting Parties»:
Desiring to intensify the economic co-operation between the two States;
Intending to encourage and create favourable conditions for investments made by investors of one Contracting Party in the territory of the other Contracting Party on the basis of equality and mutual benefit;
Recognising that the mutual promotion and protection of investments on the basis of this Agreement will stimulate business initiative;
have agreed as follows:
CHAPTER 1
General provisions
Article 1
Definitions
For the purpose of this Agreement:
1) The term «investment» shall mean every kind of asset and rights invested by investors of one Contracting Party in the territory of the other Contracting Party in accordance with the laws and regulations of the latter including, in particular, though not exclusively:
1. a)Movable and immovable property, acquired or used for economic purposes, as well as any other rights in rem, such as mortgages, liens, pledges and similar rights;
2. b)Shares, stocks, debentures, or other forms of interest in the equity of companies or other forms of participation and/or economic interests from the respective activity;
3. c)Claims to money, to other assets and to any performance having an economic value, except for:
  1. i)Claims to money that arise solely from commercial contracts for the sale of goods or services;
  2. ii)The extension of credits in connection with a commercial transaction, such as trade financing;
  3. iii)Credits with a maturity of less than three years;
by an investor in the territory of a Contracting Party to an investor in the territory of the other Contracting Party. However, the exception concerning credits with a maturity of less than three years, shall not apply to credits granted by an investor of a Contracting Party to a company of the other Contracting Party owned by the former investor;
1. d)Intellectual property rights such as copyrights, patents, utility models, industrial designs, trade marks, trade names, trade and business secrets, technical processes, know-how and good will;
2. e)Concessions conferred by law under a contract or administrative act of a competent authority;
3. f)Assets that are placed at the disposal of a lessee, in the territory of a Contracting Party, under a leasing agreement and in conformity with its laws and regulations.
  Any alteration on the form in which assets are invested does not affect their character as investments, provided that such alteration is included in the aforesaid definition and do not contradict the laws and regulations of the Contracting Party in which territory the investment was made.
  A payment obligation from, or the granting of a credit to a Contracting Party or to a state enterprise is not considered an investment;
  2) The term «returns» shall mean the amount yielded by investments, over a given period, in particular, though not exclusively, shall include profits, dividends, interests, royalties, technical assistance fees or other forms of income related to the investment.
  The returns of investments shall be subject to the same protection given to investment.
  In cases where the returns of investments, as defined above, are reinvested, the income resulting from the reinvestment shall also be considered as income related to the first investment;
  3) The term «investor» means:
4. a)Natural persons having the nationality of either Contracting Party, in accordance with its laws and regulations; and
5. b)Legal persons, including corporations, commercial companies or other companies or associations, which have a main office in the territory of one of the Contracting Parties, and are incorporated or constituted and operate in accordance with the laws and regulations of that Contracting Party;
  4) The term «territory» means the territory of either of the Contracting Parties, as defined by their respective laws and regulations, including the territorial sea or any other maritime area adjacent to the coast of the Contracting Party concerned, over which such a Contracting Party exercises, in accordance with international law, sovereignty, sovereign rights or jurisdiction.
  Article 2
  Promotion and protection of investments
1 -Each Contracting Party shall promote and encourage, as far as possible, within its territory investments made by investors of the other Contracting Party and shall admit such investments into its territory in accordance with its laws and regulations. It shall in any case accord such investments fair and equitable treatment.
2 -Investments made by investors of one Contracting Party in the territory of the other Contracting Party in accordance with its laws and regulations shall enjoy full protection and security in the territory of the latter.
3 -Neither Contracting Party shall in any way impair by arbitrary or discriminatory measures, the management, maintenance, use, enjoyment or disposal of investments in its territory of investors of the other Contracting Party.
4 -The legal extension, alteration or transformation of an investment is to be considered a new investment.
Article 3
National and most favoured nation treatment
1 -Investments made by investors of one Contracting Party in the territory of the other Contracting Party, as well as the returns therefrom, shall be accorded treatment which is fair and equitable and not less favourable than the one the latter Contracting Party accords to the investments of its own investors or investments of investors of any third State.
2 -Both Contracting Parties shall accord to investors of the other Contracting Party, as regards the management, maintenance, use, enjoyment or disposal of their investments made in their territory, treatment which is fair and equitable and not less favourable than the one the latter Contracting Party accords to its own investors or to investors of any third State.
3 -The provisions of this article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege which may be extended by the former Contracting Party by virtue of:
1. a)Existing or future free trade area, customs union, common market or other similar international agreements including other forms of economic cooperation to which either of the Contracting Parties is or may become a Party; and
2. b)Bilateral and multilateral agreements, having or not regional nature, relating wholly or mainly to taxation.
  Article 4
  Expropriation and compensation
1 -Neither Contracting Party shall expropriate or nationalise an investment either directly or indirectly through measures tantamount to expropriation or nationalisation (hereinafter referred to as «expropriation»), except by virtue of law, for a public purpose, on a non-discriminatory basis and against compensation.
2 -Such compensation shall be equivalent to the market value of the expropriated investment immediately before the expropriation took place or before it became publicly known, whichever occurs first. The compensation shall be paid without delay, shall include the usual commercial interest from the date of the expropriation until the date of payment and shall be fully realisable and freely transferable.
Valuation criteria shall include the going concern value, asset value, including declared tax value of tangible property, and other criteria, as appropriate, to determine the market value.
3 -The investor whose investment is expropriated, shall have the right under the laws and regulations of the expropriating Contracting Party to the prompt review by a judicial or other competent authority of that Contracting Party of its case and of valuation of its investment in accordance with the principles set out in this article.
Article 5
Compensation for losses
Investors of either Contracting Party whose investment suffer losses in the territory of the other Contracting Party owing to war or armed conflict, revolution, a state of national emergency or other events considered as such by international law, shall be accorded treatment no less favourable by the latter Contracting Party than the one that Contracting Party accords to the investments of its own investors, or of any third State, whichever is more favourable, as regards restitution, indemnification or other valuable consideration. Any payment made under this article shall be freely transferable without delay.
Article 6
Transfers
1 -Pursuant to its own laws and regulations, each Contracting Party shall ensure that all sums relating to an investment by an investor of the other Contracting Party may be freely transferred into and out of its territory without delay. Such transfers shall include, in particular:
1. a)Capital and additional amounts necessary to maintain or increase the investments;
2. b)The returns;
3. c)Sums necessary for the service, repayment and amortisation of loans, recognised by both Contracting Parties to be an investment;
4. d)The proceeds obtained from the sale or from the total or partial liquidation of the investment;
5. e)Any compensation or other payment referred to in articles 4 and 5;
6. f)Any payment made in accordance with article 7;
7. g)Wages earned by foreign workers, dully authorised to work in connection with the investment in the territory of the other Contracting Party;
8. h)Payments arising out of the settlement of a dispute.
2 -The transfers referred to in this article shall be made without delay at the exchange rate applicable on the date of the transfer in convertible currency.
3 -For the purposes of the present article, a transfer will be considered as done without delay when such a transfer takes place within the time normally used for the fulfilment of the necessary formalities, which should in any circumstances exceed two months from the date the requirement for transfer was presented.
4 -In case of a serious balance of payments difficulties or the threat thereof, each Contracting Party may temporarily restrict transfers, provided that such a Contracting Party implements measures or a programme in accordance with the International Monetary Fund's standards. This restriction would be imposed on an equitable, non-discriminatory and in good faith basis, and may not go beyond what is necessary to remedy the balance of payments situation.
Article 7
Subrogation
If a Contracting Party or its designated agency makes a payment under an indemnity, guarantee or contract of insurance against non commercial risks given in respect of an investment by an investor in the territory of the other Contracting Party, the latter Contracting Party shall recognise the assignment of any right or claim of such investor to the former Contracting Party or its designated agency and the right of the former Contracting Party and its designated agency to exercise by virtue of subrogation any such right or claim to the same extent as its predecessor in title. As regards the transfer of payments to the Contracting Party concerned by virtue of such assignment, articles 4, 5 and 6 of the present Agreement shall apply mutatis mutandis.
However, in case of a dispute, only the designated investor or the designated agency organised under private law may initiate or participate in proceedings before a national tribunal or submit the case to international arbitration in accordance with the provisions of part 1, chapter 2.
CHAPTER 2
Dispute settlement
PART 1
Settlement of disputes between a Contracting Party and an investor of the other Contracting Party
Article 8
Scope and standing
1 -This part applies to disputes between a Contracting party and an investor of the other Contracting Party concerning an alleged breach of an obligation of the former under this Agreement which causes loss or damage to the investor or its investment. An investment by an investor of the other Contracting Party may not submit a dispute for resolution under this Agreement.
2 -If an investor submits a claim to arbitration under this part, neither he nor its investment may initiate or continue proceedings before a national tribunal, except for proceedings for injunctive, declaratory or other extraordinary relief, not involving the payment of damages, before an administrative tribunal or court under the law of the disputing Party. If an investor or its investment initiates proceedings before a national tribunal, the investor may not submit a claim to arbitration under this part.
Article 9
Means of settlement and time periods
1 -An investor may choose to submit a dispute for resolution:
1. a)To any competent courts or administrative tribunals of the Contracting Party to the dispute;
2. b)In accordance with any applicable previously agreed dispute settlement procedure; or
3. c)By arbitration in accordance with this article under:
  1. i)The Convention on the Settlement of Investment Disputes between States and Nationals of other States (the «ICSID Convention»), if the Contracting Party of the investor and the Contracting Party to the dispute are both parties to the ICSID Convention;
  2. ii)The Additional Facility Rules of the Centre for Settlement of Investment Disputes («ICSID Additional Facility»), if the Contracting Party of the investor or the Contracting Party to the dispute, but not both, is a party to the ICSID Convention; or
  3. iii)The Arbitration Rules of the United Nations Commission on International Trade Law («UNCITRAL»).
2 -The applicable arbitration rules shall govern the arbitration except to the extent modified by this part.
3 -A dispute may be submitted for resolution pursuant to paragraph 1, c), provided that six months for consultation or negotiation have elapsed since the events giving rise to the claim occurred and provided that the investor has delivered to the Contracting Party, party to the dispute, written notice of its intention to submit it claim to arbitration at least 90 days in advance, but not later than three years from the date the investor first acquired or should have acquired knowledge of the events which gave rise to the dispute.
4 -The notice referred to in paragraph 3 shall specify:
1. a)The name and address of both the disputing investor and its investment;
2. b)The provisions of this Agreement alleged to have been breached and any other relevant provisions;
3. c)The issues and the factual basis for the claim; and
4. d)The relief sought and the approximate amount of damages claimed.
  Article 10
  Contracting Party consent
  Each Contracting Party hereby gives its unconditional consent to the submission of a dispute to international arbitration in accordance with this part.
  Article 11
  Formation of the arbitral tribunal
1 -Unless the parties to the dispute agree otherwise, the arbitral tribunal shall comprise three members. Each party to the dispute shall appoint one member and the disputing Parties shall agree upon a third member as their chairman who, in any case, shall be a national of a third State with which both Contracting Parties maintain diplomatic relations.
2 -Members of arbitral tribunals shall have experience in international law and investment matters.
3 -If an arbitral tribunal has not been constituted within 90 days from the date the claim was submitted to arbitration, either because a party to the dispute failed to appoint a member or failed to agree upon a chairman, the Secretary General of ICSID, on the request of any of the parties to the dispute, shall be asked to appoint, in his discretion, the member or members not yet appointed. Nevertheless, the Secretary General of ICSID, when appointing a chairman, shall assure that the chairman is a national of neither of the Contracting Parties.
Article 12
Consolidation
1 -A tribunal of consolidation established under this article shall be installed under the UNCITRAL Arbitration Rules and shall conduct its proceedings in accordance with those Rules, except as modified by this part.
2 -Proceedings will be consolidated:
1. a)When two or more investors in relation with the same investment submit a claim to arbitration under this Agreement; or
2. b)When two or more claims are submitted to arbitration arising common legal and factual issues.
3 -The tribunal of consolidation will decide the jurisdiction of the claims and will jointly review such claims, unless it determines that the interests of any party to the dispute are seriously harmed.
Article 13
Place of arbitration
Any arbitration under this Part shall, at the request of any party to the dispute, be held in a State that is party of the New York Convention. Claims submitted to arbitration under this Part shall be considered to arise out of a commercial relationship or transaction for purpose of article 1 of the New York Convention.
Article 14
Indemnification
A Contracting Party shall not assert as a defence, counter-claim, right of set-off or for any other reason, that indemnification or other compensation for all or part of the alleged losses or damages has been received or will be received pursuant to an indemnity, guarantee or insurance contract.
Article 15
Applicable law
1 -A tribunal established under this dispute settlement mechanism shall decide the submitted issues in dispute in accordance with this Agreement, the applicable rules of law and principles of international law.
2 -An interpretation jointly formulated and agreed by the Contracting Parties of a provision of this Agreement shall be binding on any tribunal established under this dispute settlement mechanism. If the Contracting Parties fail to submit an interpretation within 60 days from the date of the request of either Contracting Party, the tribunal shall decide the issue.
Article 16
Awards and enforcement
1 -Arbitration awards may provide the following forms of relief:
1. a)A declaration that the Contracting Party has failed to comply with its obligations under this Agreement;
2. b)Pecuniary compensation, which shall include any applicable interests;
3. c)Restitution in kind in appropriate cases, provided that the Contracting Party may pay pecuniary compensation in lieu thereof where restitution is not practicable; and
4. d)With the agreement of the parties to the dispute, any other form of relief.
2 -Arbitration awards shall be final and binding only upon the parties to the dispute and only with respect to the particular case.
3 -The final award will only be published if there is written agreement by both parties to the dispute.
4 -An arbitral tribunal shall not order a Contracting Party to pay punitive damages.
5 -Each Contracting Party shall, in its territory, make provision for the effective enforcement of awards made pursuant to this article and shall carry out without delay any such award issued in a proceeding to which it is party.
6 -An investor may seek enforcement of an arbitration award under the ICSID Convention or the New York Convention, if both Contracting Parties are parties to such instruments.
PART 2
Settlement of disputes between the Contracting Parties
Article 17
Scope, means of settlement and time periods
1 -Disputes between the Contracting Parties concerning the interpretation or application of this Agreement shall, as far as possible, be settled amicably or through consultations, mediation or conciliation.
2 -If the Contracting Parties fail to reach such settlement within six months after the beginning of negotiations the dispute shall, upon the request of either Contracting Party, be submitted to an arbitral tribunal, in accordance with the provisions of this article.
3 -A Contracting Party shall not initiate proceedings under this dispute settlement mechanism for a dispute regarding the infringement of rights of an investor which that investor has submitted to proceedings under the provisions of part 1, unless the other Contracting Party has failed to abide by or comply with the award rendered in that dispute. In this case, the arbitral tribunal established under this part, on delivery of a request by a Contracting Party whose investor was a party to the dispute, may award:
1. a)A declaration that the failure to abide by or comply with the final award is in contravention of the obligations of the other Contracting Party under this Agreement; and
2. b)A recommendation that the other Contracting Party abide by or comply with the final award.
4 -The arbitral tribunal shall be constituted ad hoc, as follows: each of the Contracting Parties shall appoint one member and these two members shall propose a national of a third State with which both Contracting Parties maintain diplomatic relations, as chairman to be appointed by the two Contracting Parties. The members shall be appointed within two months and the chairman shall be appointed within three months from the date on which either Contracting Party notifies the other that it wishes to submit the dispute to an arbitral tribunal.
5 -If the deadlines specified in paragraph 4 of this article are not complied with, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is prevented from doing so, or is a national of either Contracting Party, the Vice-President shall be invited to make the necessary appointments. If the Vice-President is also a national of either Contracting Party or if he is prevented from making the appointments for any other reason, the appointments shall be made by the member of the Court who is next in seniority and who is not a national of either Contracting Party.
6 -The arbitral tribunal will decide disputes in accordance with this Agreement and the applicable rules and principles of international law.
7 -The arbitral tribunal shall rule according to majority vote. The decisions of the arbitral tribunal shall be final and binding on both Contracting Parties. Each Contracting Party shall be responsible for the costs of its own arbitrator and of its representatives at the arbitral proceedings. Both Contracting Parties shall assume an equal share of the expenses incurred by the chairman, as well as any other expenses. The arbitral tribunal may make a different decision regarding costs.
In all other respects, the arbitral tribunal shall define its own rules of procedure.
8 -The arbitral tribunal, in its award, shall set out its findings of law and fact, together with the reasons therefore, and may, at the request of a Contracting Party, award the following forms of relief:
1. a)A declaration that an action of a Contracting Party is in contravention of its obligations under this Agreement;
2. b)A recommendation that a Contracting Party brings its actions into conformity with its obligations under this Agreement; or
3. c)Any other form of relief to which the Contracting Party against whom the award is made consents.
  CHAPTER 3
  Final provisions
  Article 18
  Application of other rules
1 -If the provisions of laws and regulations of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to this Agreement contain a regulation, whether general or specific, entitling investments made by investors of the other Contracting Party to a treatment more favourable than the one provided for by this Agreement, such provisions shall, to the extent that they are more favourable than the one that is provided, prevail over this Agreement.
2 -Each Contracting Party shall observe any other obligations it has assumed in writing, with regard to investments in its territory by investors of the other Contracting Party. Disputes arising from such obligations shall be settled only under the terms of the specific agreement underlying the obligations.
Article 19
Application of the Agreement
This Agreement shall apply to all investments made by investors of one Contracting Party in the territory of the other Contracting Party in accordance with the legal provisions of the latter, prior to as well as after its entry into force, but shall not apply to any dispute concerning investments which have arisen before its entry into force.
Article 20
Consultations
Representatives of the Contracting Parties shall, whenever necessary, hold consultations on any matter related to the interpretation and application of this Agreement. These consultations shall be held on the proposal of one of the Contracting Parties, which shall, if necessary, propose meetings at a place and a time to be agreed upon through diplomatic channels.
Article 21
Entry into force and duration
1 -This Agreement shall enter into force 30 days after the Contracting Parties notify each other in writing that their respective internal constitutional or legal procedures have been fulfilled.
2 -This Agreement shall remain in force for a period of 10 years, which shall be extended for equal periods, unless, 12 months before the expiration of the period, either Contracting Party notifies the other in writing of its intention to terminate this Agreement.
3 -In respect of investments made prior to the date of termination of this Agreement, the provisions of articles 1 to 20 shall remain in force for a further period of 10 years from the date of termination of this Agreement.
Done in duplicate at this 1111 day of November 1999 in the Portuguese, Spanish and English languages, all texts being equally authentic. In case of any divergence of interpretation, the English text shall prevail.
For the Portuguese Republic:
Vítor Ramalho.
For the United Mexican States:
Herminio Blanco.
PROTOCOL
On the occasion of the signing of the Agreement between the Portuguese Republic and the United Mexican States on the Reciprocal Promotion and Protection of Investments, the undersigned duly authorised to this effect, have agreed also on the following provision, which constitute an integral part of the said Agreement:
With reference to article 3 of this Agreement:
The Contracting Parties consider that provisions of article 3 of this Agreement shall be without prejudice to the right of either Contracting Party to apply the relevant provisions of their tax law which distinguish between tax-payers who are not in the same situation with regard to their place of residence or with regard to the place where their capital is invested.
Done in duplicate in Mexico city at this 1111 day of November 1999 in the Portuguese, Spanish and English languages, all texts being equally authentic. In case of any divergence of interpretation, the English text shall prevail.
For the Portuguese Republic:
Vítor Ramalho.
For the United Mexican States:
Herminio Blanco.