Page 236 - The Persian Gulf Historical Summaries (1907-1953) Vol III

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Deposits of minerals such as gold, silver, copper, lead, potash, sulphur and salt
or the like which may be discovered by the Company shall be reported to the Shaikh
and shall not be worked by the Company except under special concession or permit
from the Shaikh.
Further the Company shall instruct Geologists to mark carefully and report
to the Company any area and its location which appears to them to give promise of
yielding minerals or fresh water from a bore-hole and the Company undertakes to
keep the Shaikh informed of all such minerals and water reports and the sites of
the area or areas.
Article 21
The Shaikh hereby agrees that the Company may transfer the obligations and
benefits of this Agreement to a British Company to be called “ Petroleum Develop­
ment (Trucial Coast) Limited ” or to any other Company registered within the
British Empire.

Article 22
Failure on the part of the Company to fulfil any of the conditions of this
Agreement shall not give the Shaikh any claim against the Company or be deemed
a breach of this Agreement in so far as such failure arises from force majeure, and
if through force majeure the fulfilment by the Company of any of the conditions
of this Agreement be delayed the period of such delay shall be added to the periods
fixed by this Agreement.
Force majeure as used in this Agreement includes the Act of God, war, insur­
rection, riot, civil commotion, tide, storm, tidal wave, flood, lightning, explosion,
fire, earthquakes and any other happening which the Company could not reason­
ably prevent or control.
Article 23
The Shaikh shall not by general or special legislation or by administrative
measures or by any other act whatever annul this Agreement except as provided in
Article 19.
No alteration shall be made in the terms of this Agreement by either the Shaikh
or the Company except in the event of the Shaikh and the Company jointly agreeing
that it is desirable in the interests of both parties to make certain alterations dele­
tions or additions to this Agreement.

Article 24
(a) If at any time during the currency of this Agreement any difference or
dispute shall arise between the parties hereto concerning the interpretation or
execution hereof, or anything herein contained, or in connexion herewith; or the
rights or liabilities of either party hereunder, the same shall, failing any agreement
to settle it in any other way, 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 nominate its own arbitrator within Sixty days after delivery of
a request so to do by the other party failing which its arbitrator may at the request
of the other party be designated by the British Political Resident in the Persian Gulf.
In the event of the arbitrators failing to agree within Sixty days after being chosen
or designated the British Political Resident in the Persian Gulf may appoint a
referee at the request of the arbitrators or of either of them.
(c) The decision of the arbitrators, or in a case of a difference of opinion
between them the decision of the referee, shall be final and binding upon both
parties.
(d) In giving a decision the arbitrators or the referee shall specify an adequate
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 place of arbitration shall be such as may be agreed by the parties and
in default of agreement shall be London.