If a State enters into an agreement in writing with a foreign natural or juridical person to submit to arbitration differences relating to a commercial transaction, that State cannot invoke immunity from jurisdiction before a court of another State which is otherwise competent in a proceeding which relates to: unless the arbitration agreement otherwise provides. The expression ‘commercial transaction’ includes investment matters. Where two parties have agreed to settle a dispute by arbitration, one or both of them may end up bringing proceedings in the courts of...
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