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PCA Case No. 2015-12

IN THE MATTER OF AN ARBITRATION UNDER THE AGREEMENT BETWEEN THE
GOVERNMENT OF THE REPUBLIC OF ARGENTINA AND THE GOVERNMENT OF THE
UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND FOR THE
PROMOTION AND PROTECTION OF INVESTMENTS, DATED 11 DECEMBER 1990

- and –

THE UNCITRAL ARBITRATION RULES (AS REVISED IN 2010)

- between –

ICS INSPECTION AND CONTROL SERVICES LIMITED (UNITED KINGDOM)

(the “Claimant”)

- and –

THE ARGENTINE REPUBLIC

(the “Respondent”, and together with the Claimant, the “Parties”)

CORRECTION OF THE FINAL AWARD

ARBITRAL TRIBUNAL:
Mr. Jernej Sekolec (Presiding Arbitrator)
Mr. Pierre-Yves Tschanz
Prof. Dr. Domingo Bello Janeiro

SECRETARY TO THE TRIBUNAL:
Mr. Martin Doe Rodríguez

REGISTRY:
Permanent Court of Arbitration

Date

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I. PROCEDURAL HISTORY

1. On 29 April 2024, the Tribunal issued its Final Award in these proceedings, ruling as follows:¹

486. For the reasons stated in this Award, the Tribunal decides:

1. that it has jurisdiction to consider the claims raised by the Claimant;
2. that the claims raised by the Claimant are admissible;
3. that the Respondent has violated the Umbrella Clause of the Treaty, giving rise to a right to compensation under the Treaty and international law;
4. that the Respondent shall pay compensation to the Claimant in the principal amount of USD 9,707,398.51;
5. that the Respondent shall pay to the Claimant interest on the amount awarded under sub-paragraph (d) above, running from the due date of each invoice as per paragraph 471 above until the date of payment, at the annual rate of 12.8 percent compounded annually;
6. that each Party shall bear its own legal and other costs, as well as half of the costs of the arbitration proceedings covered from the deposits made with the PCA; and
7. that all other claims by the Parties are rejected.

2. On 29 May 2024, the Respondent submitted a Request for Correction of the Final Award under Article 38 of the UNCITRAL Rules (the “Request for Correction”).

3. On 7 June 2024, the Claimant submitted its comments on the Respondent’s Request for Correction (the “Response”), agreeing to the requested corrections.

II. CORRECTION

4. Article 38 of the UNCITRAL Rules provides as follows:

Within 30 days after the receipt of the award, a party, with notice to the other parties, may request the arbitral tribunal to correct in the award any error in computation, any clerical or typographical error, or any error or omission of a similar nature. If the arbitral tribunal considers that the request is justified, it shall make the correction within 45 days of receipt of the request.

5. The correction requested by the Respondent relates to the amounts awarded as compensation by the Tribunal to the Claimant for the Special Services. The Respondent submits that the Tribunal decided to apply a discount for defective proof to the amounts owed for the Special Services, but then failed to apply this discount to the VAT amounts on the invoices. As such, the amount of

¹ Final Award, para. 486. ↩

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USD 1,702,834.91 awarded for Special Services should be corrected to USD 1,656,827.20, reducing the total amount awarded from USD 9,707,398.51 to USD 9,661,390.80.²

6. The Claimant objects to certain statements made in the Request for Correction, but nevertheless agrees to the requested corrections.³

7. The Tribunal takes note of the Parties’ agreement on correcting the amounts indicated in the Final Award as set out in paragraph 21 of the Respondent’s Request for Correction.

III. DECISION

8. For the foregoing reasons, the Tribunal decides as follows:

1. Accepts to correct, in light of the Parties’ agreement, the tables in paragraphs 325, 328, 344, 349, 353, 358, 362, 365, 369, 374, 382, 385, 436, 437 and 486 of the Final Award with the amounts indicated in paragraph 21 of the Request for Correction, as follows:

² Request, paras. 20-21. ↩

³ Response, paras. 2-3. ↩

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2. A corrected version of the Final Award is annexed to this decision; and
3. All other requests are dismissed.

Place of arbitration: The Hague, The Netherlands

Date: 12 JULY 2024

Signature

Mr. Jernej Sekolec
Presiding Arbitrator