MINISTERIE VAN BUITENLANDSE ZAKEN
Excellency,
With reference to the Agreement on encouragement and reciprocal protection of investments, signed today, I have the honour to inform you as follows:
Article 9 of the Agreement provides for a procedure for the settlement of disputes between a national of the one State, and the other State, arising directly out of an investment.
However, in the framework of contracts between nationals of the one State and the other State or a constituent subdivision or agency of that State, disputes may arise which are not within the jurisdiction of the Centre referred to in the said Article because they do not arise directly out of an investment.
With a view thereto I have the honour to propose on behalf of my Government that such disputes, at the request of the nationals concerned in the absence of any other procedure agreed upon in the said contracts, shall be referred to an international court of arbitration which shall be established under the arbitration rules of the International Chamber of Commerce.
I would very much appreciate to learn whether this proposal is acceptable to your Government.
Please accept, Excellency, the assurance of my highest consideration.
(sd.) R. F. M. LUBBERS
R. F. M. Lubbers
Minister for Foreign Affairs a.i.
of the Kingdom of the
Netherlands
To His Excellency
Mr. M. A. Al-Gunaid
Minister of Development of
the Yemen Arab Republic
