Investment Agreement Canada
may be subject to arbitration under this Article, unless the Parties, through the competent tax authorities designated from time to time, jointly determine, within six months of the investor`s notification of the claim, that the measure in question may not violate the Investment Agreement or constitute an expropriation. Most Canadian contracts include an exception for the cultural industry, including publishing, newspapers, film, music and radio. The exception applies either by exempting investments in a cultural industry (e.B Ecuador) or by providing that the treaty does not apply to measures affecting a cultural industry (e.B Cameroon). Any change in the form of an investment does not affect its investment character. Any Party may request consultations on the interpretation or application of this Agreement. The other Party shall consider the request favourably. At the request of a Party, information shall be exchanged on shares of the other Party that may affect new investments, investments or returns within the meaning of this Agreement. The U.S. Bilateral Investment Agreement (BIT) helps protect private investment, develop market-based strategies in partner countries, and promote U.S. exports. BITs set clear limits for the expropriation of investments and provide for the payment of immediate, reasonable and effective compensation in the event of expropriation. 12 The 2007 FIPPA was replaced by the Investment Chapter of the Canada-Peru Free Trade Agreement (August 1, 2009), but remains in force for measures taken prior to the entry into force of the Free Trade Agreement (see Article 801(2) of the Canada-Peru Free Trade Agreement). who makes the investment in the territory of Venezuela and who does not have Venezuelan citizenship; and BITs provide for the immediate transfer of investment-related funds to and from a host country using a market exchange rate.
The Government of Canada`s Commercial Law Office (JLT), a joint entity of Global Affairs Canada and the Department of Justice, administers Canada`s arbitration for investment treaties. For more information on the BIT program, please contact the Bilateral Investment Agreement Coordinators at the Office of the U.S. Trade Representative at 202-395-4510 or the Department of State at 202-736-4906. RECOGNISING that the promotion and protection of these investments will benefit the economic prosperity of the Parties, use the drop-down menu to search by agreement by group of countries, type of agreement or status. You can also use the filter option to search for keywords. Some treaties deal explicitly with this issue. In some contracts, an investment is covered if an investor controls the company that owns the investment (e.B. CETA and CUSMA, Benin, Côte d`Ivoire, Croatia and Hong Kong). At the federal level, section 5(4) of the Commercial Arbitration Act, R.S.C., 1985, c. 17 (2nd Supp.) provides that Canada interprets the term "commercial arbitration" in section 1(1) of the attached Commercial Arbitration Act (based on the UNCITRAL Model Law) as including investment disputes under some of its free trade agreements (Colombia, Chile and Peru).
All provincial or territorial jurisdictions, with the exception of Quebec (although article 649 of the Quebec Code of Civil Procedure 25.01 permits review of the Model Law), have enacted laws that adopt the UNCITRAL Model Law (e.B. British Columbia International Commercial Arbitration Act, R.S.B.C. 1996, c. 55). In March 2014, the Canadian Uniform Law Conference (ULCC) finalized a new Uniform International Commercial Arbitration Act, which provinces should consider adopting. The ULCC adopted the law on 1 December 2016 as the Uniform Law on Arbitration (2016). [i] The majority of Canada`s bilateral investment treaties (BITs) are known as Foreign Investment Promotion and Protection Agreements (IPAs). Canada is also a party to a number of free trade agreements (FTAs) that include investment protection and investor-state dispute settlement, including the North American Free Trade Agreement (CUSMA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Canada-European Union Comprehensive Economic and Trade Agreement (CETA). Although most of CETA is provisionally in force, its provisions on investment protection and investor-state dispute settlement are not in force. In addition to the treaties listed on its website as being in force or signed (but not yet in force), Canada has completed GFA negotiations with Albania, Bahrain, Madagascar, Moldova, the United Arab Emirates and Zambia. It is also involved in the ongoing negotiations on FIPAs and FTAs with a wide range of countries, some of which are more active than others. Canada is one of the 29 founding members of MIGA.
The MIGA Convention was ratified in Canada by the Bretton Woods and Related Agreements Act, R.S.C., 1985, B-7 (Annex V). Through this multilateral political risk insurance for medium- to long-term investments, Canadian citizens and businesses can benefit from MIGA`s protection against the risks of transfer restrictions (including inconsultity), expropriation, war and civil unrest, breach of contract, and non-compliance with government financial obligations. MIGA can also insure investments funded by Canada through an investor in the host country. Some treaties, such as the Canada-Israel Free Trade Agreement (CTFTA) and the Canada-European Free Trade Association (EFTA) Free Trade Agreement, do not contain investment protection provisions and are not included in the table. the protection of investments abroad in countries where investors` rights are not already protected by existing agreements (e.g. B, modern friendship, trade and navigation agreements or free trade agreements); In general, Canadian contracts limit the scope of most-favoured-nation or national treatment to claims relating to the management, use, enjoyment or sale of investments and returns, although the 2021 FIPA model extends it to the establishment, acquisition and expansion. An investment permit or investment contract is an investment contract that is not a debt instrument excluded by the definition of an investment contract in subsection 12(11). For example, a debt instrument which provides for the payment of interest at least once a year is not an investment contract because it is excluded by point (i) of the definition of the investment contract. [ix] Article IX(2) of the Treaty provides: "Any dispute which may arise from this Agreement between a Party and an investor of the other Party, with the exception of a dispute referred to in paragraph 1 of this Article [i.e.
expropriation], shall be settled amicably to the extent possible. If the dispute has not been settled amicably within six months of the date of commencement of the dispute, it shall, by agreement between that Party and the investor, be submitted to arbitration in accordance with paragraph 3. " in the case of Canada under the North American Free Trade Agreement (NAFTA) against any state, investor or investment to which NAFTA applies; Learn more about Canada`s trade and investment agreements: types of agreements and how trade and investment agreements evolve in stages. .