ALCA FTAA ZLEA - Investment: Expropriation - Haiti/United States

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Investment Agreements in the Western Hemisphere: A Compendium

Treaty Between Haiti and the United States
13 December 1983

Subject: V. Expropriation

A. Definition

1. Covered Expropriatory Measures Expropriation, nationalization or any other measure or series of measures, direct or indirect, tantamount to expropriation (including the levying of taxation, the compulsory sale of all or part of an investment, or the impairment or deprivation of its management, control or economic value). (Article III (1)).

B. Conditions

1. Public Purpose and Non-Discrimination
Yes. (Article III (1)).

2. Due Process of Law and Judicial Review
Yes. Review can be made by the appropriate judicial or administrative authorities of the expropriating host Party. (Article III (1) (3)).

3. Other
Non-violation of any specific provision on contractual stability or expropriation contained in an investment agreement between the national or company concerned and the Party making the expropriation. (Article III (1)).

4. Compensation: Standard; Form and Time of Payment
"Prompt, adequate and effective compensation" Compensation shall: . be equivalent to the fair market value of the investment, determined according to different methods of calculation as appropriate in each specific case. The calculation of compensation shall not reflect any reduction of the fair market value by reason of previous public knowledge or announcement of the expropriation, or measures resulting in an expropriation; . include current interests from the date of expropriation at current international rates; . be made without delay; . be fully realizable and freely transferable at the prevailing market rate of exchange at the date of expropriation. (Article III (1)).


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