'File 5/1 XI Kuwait Oil Company' [‎145r] (294/452)

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Article 18. - (A) If at any time
daring the currency of this Agreement any
deference or dispute shall arise between
the parties hereto concerning the interpre
tation or execution hereof, or anything
herein contained or in connection herewith,
or the rights or liabilities of either party
hereunder, the same shall, failing any
agreement to settle it in any other way, or
after consultation with the British Political
Atrent in Kuwait or the British Political
Resident in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. , be referred
to two arbitrators, one of whom shall be
chosen by each party, and a referee, who
shall be chosen by the arbitrators before
proceeding to arbitration.
(B) Each party shall nominate its
own arbitrator within 60 days after the
delivery of a request so to do by the other
party failing which its arbitrator may at
the request of the other party be designat
ed by the British Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. in the
Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. . In the event of the arbitrators
failing to agree upon the referee within 60
days after being chosen or designated, the
British Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. in the Persian
Gulf may appoint a referee at the request
of the arbitrators or either of them.
(C) The decision of the arbitrators,
or in case of a difference of opinion be
tween them the decision of the referee,
shall b 2 final and binding upon both parties.
(D) In giving a decision the arbit
rators or the referee shall specify an ade
quate period of delay during which the
party against whom the decision is given
shall conform to the decision and that
party shall be in default only if that party
has failed to conform to the decision prior
to the expiry of that period and not
otherwise.
(E) The places of arbitration shall
be such as may be agreed by the parties
and in default of agreement shall be London.
Article 19. - The Company shall
make all payments that become due
to the Shaikh under this Agreement into
the Shaikh’s account at the Ottoman
Bank in Basrah and the Bank’s receipt
shall be a full discharge for the Company
in respect to the payment of the sum
stated in the Bank’s receipt. The Shaikh
may from time to time designate in
writing another Bank or Banks for the
Purpose of this Article.
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