Party whose DFI is a party to the dispute or difference) within two
months of receipt by that OFI of the request for arbitration.
5
The chairman of the arbitral tribunal shall be appointed, from among the
arbitrators selected in terms of paragraph 4 above (or from the roster of
presiding arbitrators contemplated in paragraph 9 below) by agreement
of the parties to the relevant dispute or difference.
6
If (i) a party to the relevant dispute or difference fails to nominate its
arbitrator, as contemplated in paragraph 4 above, or (ii) the parties to
such dispute or difference fail to agree on the appointment of the
chairman of the arbitral tribunal, as contemplated in paragraph 5 above,
as the case may be, within three months of the request for arbitration
referred to in paragraph 4 above, any party may approach the SADC
Executive Secretary to make the appointment of such arbitrator or such
chairman, as the case may be.
7
The chairman of the arbitral tribunal appointed in terms of paragraphs 4
or 5 above shall, in respect of the DFis which are parties to the relevant
dispute or difference, not be a national of any of those DFis' State
Parties.
8
State Parties agree that:
9.
(a)
the arbitral tribunal contemplated in paragraph 3 above shall
reach its decision by majority of votes, with each arbitrator
having one vote and the chairman having a casting vote in the
event of a deadlock;
(b)
the decision of the arbitral tribunal shall be final and binding on
all the parties to the dispute or difference; and
(c)
the arbitral tribunal shall determine its own procedures and
make its own determinations with regard to the costs of the
relevant arbitration proceedings.
State Parties agree that:
(a)
DFis, through the forum of the Network, will establish and
maintain, a roster of at least 25 presiding arbitrators from a list of
highly skilled professionals who are experienced in international
finance and investment matters;
(b)
the presiding arbitrators referred to in sub-paragraph (a) will be
appointed by consensus of the DFis and without regard to the
nationality of such presiding arbitrators, provided that the DFis
will, as far as possible, ensure that the roster of presiding
arbitrators adequately represents all of the State Parties; and
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