Report No. 260
(ii) Suggested draft:
14.5(i) The arbitral tribunal shall consist of three arbitrators with relevant expertise or experience in public international law, international trade and international investment law, or the resolution of disputes arising under international trade or international investment agreements. One arbitrator shall be appointed by each of the disputing parties and the third arbitrator ("Presiding Arbitrator") shall be appointed by agreement of the co-arbitrators and the Parties. The Presiding Arbitrator shall not be a citizen of either the Host State or the Home State.
14.5(ii) If arbitrators are not appointed within one hundred twenty days (120) days from the date a Claim is submitted to arbitration under this Article, the appointing authority under Article 7 of the UNCITRAL Rules shall be the President, the Vice-President or the next senior Judge of the International Court of Justice; the appointing authority under this sub-clause shall not be a national of either Contracting Party or a national of a country with which either Contracting Party does not have diplomatic or consular relations.