TAFTA Full Text
Search for 'Article 18110' and 'Article 1811' .
ARTICLE 1810Implementation
ARTICLE 1811Compensation and Suspension of Benefits
I couldn't find anything about escrowed funds.
They say the award is final and binding. I think they say if Thailand hasn't paid within a certain time-frame of the award being issued, then KCN can 'suspend benefits'.
"the Party which requested the establishment of an arbitral tribunal may at any timethereafter provide written notice to the other Party that it intends to suspend theapplication of benefits of equivalent effect to the non-conformity found by thetribunal. The notice shall specify the level of benefits that the Party proposes tosuspend. The Party which requested the establishment of an arbitral tribunal maybegin suspending benefits 30 days after the date on which it provides notice to theother Party."
So what does suspend benefits mean? That seems to be the recourse available if payment was withheld. KCN could suspend some of the benefits of TAFTA? Eg. if PTT (Thai oil company) has assets in Australia, then they could lose their tax benefits?
TAFTA Full TextSearch for 'Article 18110' and 'Article 1811'...
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