Page:United States Statutes at Large Volume 106 Part 6.djvu/745

 PROCLAMATION 6445-JUNE 15, 1992 106 STAT. 5303 right of either Party to apply its laws and regulations applicable to trade in textiles and textile products and its laws and regulations applicable to unfair trade, including antidumping and countervailing duty laws. Article XII—Dispute Settlement 1. Nationals and companies of either Party shall be accorded national treatment with respect to access to all courts and administrative bodies in the territory of Uie other Party, as plaintiffs, defendants or otherwise. They shall not claim or enjoy immunity from suit or execution of judgment, proceedings for the recognition and enforcement of arbitral awards, or other liability in the territory of the other Party with respect to commercial transactions; they also shall not claim or enjoy immunities from taxation with respect to commercial transactions, except as may be provided in other bilateral agreements. 2. The Parties encourage the adoption of arbitration for the settlement of disputes arising out of commercial transactions concluded between nationals or companies of the United States and nationals or companies of the Republic of Albania. Such arbitration may be provided for by agreements in contracts between such nationals and companies, or in separate written agreements between them. 3. The Parties may provide for arbitration under any internationaly recognized arbitration rules, including the UNCITRAL Rules of December 15, 1976 and any modifications thereto, in which case the parties should designate an Appointing Authority under said rules in a country other than the United States or the Republic of Albania. 4. Unless otherwise agreed between the parties, the parties should specify as the place of arbitration a country other than the United States or the Republic of Albania, that is a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York, June 10, 1958. 5. Nothing in this Article shall be construed to prevent, and the Parties shall not prohibit, the parties from agreeing upon any other form of arbitration or on the law to be applied in such arbitration, or other forms of dispute settlement which they mutually prefer and agree best suits their particular needs. 6. Each Party shall ensure that an effective means exists within its territory for the recognition and enforcement of arbitral awards. Article Xin—National Security The provisions of this Agreement shall not limit the right of either Party to take any action for the protection of its security interests.

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