Grupo Unidos por el Canal, S.A.
Building 22B. Brujas Road
Cocoli
Republic of Panama

Sacyr, S.A.
Paseo de la Castellana 83-85
28046 Madrid
Spain

Webuild S.p.A.
Via dei Missaglia, 97
20142 Milan
Italy

Jan De Nul, N.V.
Tragel 60
9308 Hofstade-Aalst
Belgium

Ms. Carolyn B. Lamm,
Mr. Francis A. Vasquez, Jr.
Mr. Hansel Pham
Mr. Matthew Drossos
White & Case LLP
701 Thirteenth Street, N. W.
Washington, D.C., 20005
USA.
Tel.: +1 202 626 36 00
Fax: +1 202 639 93 55
Emails: clamm@whitecase.com
fvasquez@whitecase.com
hpham@whitecase.com
mdrossos@whitecase.com

Mr. Phillip Capper
Mr. Nicolas Bouchardie
Ms. Alexandra Guilbault
Ms. Angélica André
White & Case LLP
19, Place Vendôme
75001 Paris
France
Tel.: +33 1 55 04 15 15
Fax: +33 1 55 04 15 16
Emails: pcapper@whitecase com
nbouchardie@whitecase c om
aguilbault@whitecase. com
aandre@whitecase.com

Prof. Antonio Crivellaro
Prof. Andrea Carlevaris
Mr. Giovanni Minuto
Mr. Paolo Daino
Mr. Paolo Di Giovanni
Bonelli Erede Studio Legale
Via Michele Barozzi, 1
20122 Milan
Italy
Tel.: +39 02 771 131
Fax: +39 02 771 132 60
Email: antonio.crivellaro@belex.com
andrea.carlevaris@belex.com
giovanni.minuto@belex.com
paolo.daino@belex.com
paolo.digiovanni@belex.com

Mr. Richard M. Preston
Mr. Jeffrey M. Hummel
Seyfarth Shaw LLP
975 F Street, N.W.
Washington, D.C., 20004
U.S.A.
Tel.: +1 202 463 24 00
Fax: +1 202 828 53 93
Emails: rpreston@seyfarth.com
jhummel@seyfarth.com

Ms. Ana Maria Legendre
White & Case LLP
Paseo de la Castellana, 7
28046 Madrid
Spain
Tel: +34 91 787 6372
Fax: +34 91 787 6399
Emails: alegendre@whitecase.com

Mr. Elliott Geisinger
Mr. Christopher Boog
Schellenberg Wittmer Ltd.
15bis, rue des Alpes, P.O. Box 2088
1211 Geneva 1
Switzerland
Emails: elliott.geisinger@swlegal.ch
christopher.boog@swlegal.ch
SW_GUPC_2_0910@swlegal.ch

Vinson & Elkins RLLP
CityPoint, Level 33
One Ropemaker Street
London EC2Y 9UE
United Kingdom
Attention: Mr. Nick Henchie
Tel.: +44 207 065 60 87
Email: nhenchie@velaw.com

Mr. James Loftis
Tel.: +1 713 758 10 24
Email: jloftis@velaw.com

Mr. Amir Ghaffari
Tel.: +44 207 065 60 76
Email: aghaffari@velaw.com

Mr. Scott Stiegler
Tel.: +44 207 065 60 17
Email: sstiegler@velaw.com

Ms. Justine Moxham
Tel.: +44 207 065 61 76
Email: jmoxham@velaw.com

Mr. Peter Danysh
Tel.: +1 713 758 20 60
Email: pdanysh@velaw.com

Ms. Georgina Barlow
Tel.: +44 207 065 60 52
Email: gbarlowvelaw.com

Ms. Susanna Fidoe
Tel.: +44 207 065 60 00
Email: sfidoe@velaw com

Ms. Louise Woods
Tel.: +44 207 065 60 52
Email: lwoods@velaw.com

Ms. Sophia Burton
Tel.: +44 207 065 60 18
Email: sburton@velaw.com

Mr. Charles Aitchison
Tel.: +44 207 065 60 01
Email: caitchison@velaw.com

Mr. Ben Grunberger-Kirsh
Tel.: + 44 207 065 60 00
Email: bgrunberger-kirsh@velaw.com

Mayer Brown International LLP
201 Bishopsgate
London EC2M 3AF
United Kingdom
Attention: Mr. Raid Abu-Manneh
Tel.: +44 203 130 37 73
Email: rabu-manneh@mayerbrown.com

Mr. Kwadwo Sarkodie
Tel.: +44 20 3130 33 35
Email: ksarkodie@mayerbrown.com

Mr. George Fisher
Tel: +44 20 3130 35 34
Email: gfisher@mayerbrown.com

ACP Section for Legal Advice on Contracts, Canal Expansion Program Edificio
739, Corozal Oeste,
Panama,
Republic of Panama
Attention: Agenor Correa
Tel.: +507 276 12 26
Email: acorrea@pancanal.com

Carlos Arrue Montenegro
Tel.: +507 276 21 75
Email: caarrue@pancanal.com

Karla Arias
Tel.: +507 276 12 52
Email: karias@pancanal.com

Mr. Manus McMullan QC
Mr. Christopher Lewis QC
Mr. Peter Land
Atkin Chambers
Gray's Inn
London WC1R 5AT
United Kingdom
Tel.: +44 207 404 01 02
Email: mmcmullan@atkinchambers.com
clewis@atkinchambers.com
pland@atkinschambers.com

(i) affirm[ed] that the First Claimant and the Respondent have standing to bring their claims under the Contract;

(ii) acknowledge[d] that, at present, the Second to Fourth Claimants do not make claims under the Contract;

(iii) acknowledge[d] that the Second to Fourth Claimants reserve the right to do so at a later stage;

(iv) affirm[ed] that if the Second to Fourth Claimants were, at a later stage, to raise claims under the Contract, they would need to satisfy the requirements of Article 23(4) of the ICC Rules pertaining to new claims and the Respondent would be entitled to raise jurisdictional objections to such claims;

(v) acknowledge[d] that, at this time, the Second to Fourth Claimants do not make claims under any agreement other than the JSG;

(vi) affirm[ed] that the Second to Fourth Claimants and the Respondent have standing to bring their claims under the JSG.

(vii) affirm[ed] that the Arbitral Tribunal has jurisdiction to hear the Second to Fourth Claimants’ claims under the JSG as presently pleaded;

(viii) affirm[ed] that the issue of whether Panamanian law is incorporated into the JSG and, more generally, the application of Panamanian taw to the dispute, are issues of substantive law that shall be addressed by the Arbitral Tribunal at a later stage when dealing with the merits;

(ix) affirm[ed] that the Arbitral Tribunal has jurisdiction to hear the Respondent's delay damages claim;

(x) dismisse[d] any other prayer of the Parties relating to jurisdictional issues;

(xi) decide[d] that the costs and expenses related to this Partial Award on Jurisdiction and Standing will be dealt with at a later stage: and

(xii) declare[d] that all further decisions [were] reserved for future award(s).

First Witness Statement of Ms. Maria Ascensión Baz (C-WS-14);

First Witness Statement of Mr. Alberto Buffa (C-WS-15);

First Witness Statement of Mr. Eldon Gath (C-WS-22);

Second Witness Statement of Mr. José Manuel Loureda López (C-WS-23);

First Witness Statement of Dr. Jacques Marchand (C-WS-16);

Fifth Witness Statement of Mr. Paolo Möder (C-WS-24);

First Witness Statement of Mr. Christopher E. Ottsen (C-WS-17);

First Witness Statement of Mr. José Pelaez (C-WS-18);

First Witness Statement of Dr. Ernest K. Schrader (C-WS-19);

First Witness Statement of Mr. Nicola Valiante (C-WS-20);

Second Witness Statement of Mr. Antonio Maria Zaffaroni (C-WS-21);

First Expert Report of Professor John C. Coates IV (C-EX-12);

First Expert Report of Mr. Greg Gold (C-EX-7);

Second Expert Report of Mr. Timothy H. Hart (C-EX-13);

Fourth Expert Report of Dr. Arturo Hoyos (C-EX-6);

First Expert Report of Mr. Martin Hunter (C-EX-10);

First Expert Report of Professor Sidney Mindess (C-EX-8);

First Expert Report of Professor Lars-Olof Nilsson (C-EX-9);

First Expert Report of Ms. Marianne Ramey (C-EX-11); and

First Expert Report of Mr. David Shilston (C-EX-5).

First Witness Statement of Mr. Alberto Aleman (R-WS-5);

Second Witness Statement of Mr. Jorge Quijano (R-WS-6);

Third Witness Statement of Mr. Francisco Miguez (R-WS-7);

First Witness Statement of Ms. Cheryl George (R-WS-8);

First Witness Statement of Mr. Loren Belken (R-WS-9);

First Witness Statement of Ms. Maurylis Coronado (R-WS-10);

First Witness Statement of Dr. Guillermo Di Pace (R-WS-11);

First Witness Statement of Mr. Derek Irving (R-WS-12);

First Witness Statement of Mr. Miguel Lorenzo (R-WS-13);

First Witness Statement of Mr. Carlos McLean (R-WS-14);

First Witness Statement of Mr. Rick Montanari (R-WS-15);

First Witness Statement of Mr. Jorge Eduardo Ritter (R-WS-16);

First Expert Report of Mr. Adrian Dance (R-EX-4);

Second Expert Report of Professor Octavio Del Moral (R-EX-5);

First Expert Report of Mr. Jeff Fuchs (R-EX-6);

First Expert Report of Mr. Charles Hammond (R-EX-7);

First Expert Report of Mr. Don Harvey (R-EX-8):

First Expert Report of Professor Doug Hooton (R-EX-9);

First Expert Report of Dr. Calvin Konya (R-EX-10);

First Expert Report of Mr. Tom Kuper (R-EX-11);

First Expert Report of Mr. Paul Lewis (R-EX-12);

Third Expert Report of Mr. Gervase MacGregor (R-EX-13);

First Expert Report of Mr. Calvin McCall (R-EX-15);

First Expert Report of Mr. Mike Pauletto (R-EX-16); and

First Expert Report of Dr. David Rothstein (R-EX-17).

Second Witness Statement of Ms. Maria Ascensión Baz (C-WS-26);

Second Witness Statement of Mr. Alberto Buffa (C-WS-27);

First Witness Statement of Mr. Alberto Casas (C-WS-28);

First Witness Statement of Mr. Claudio Corbella (C-WS-29);

First Witness Statement of Mr. Andrew Davis (C-WS-30);

Fourth Witness Statement of Mr. Dino Desiati (C-WS-31);

Second Witness Statement of Mr. Eldon Gath (C-WS-32);

First Witness Statement of Mr. Gregory Hillebrenner (C-WS-33);

First Witness Statement of Mr. Mario Lampiano (C-WS-34);

First Witness Statement of Mr. Manuel Lopez (C-WS-36);

Third Witness Statement of Mr. José Manuel Loureda López (C-WS-37);

Second Witness Statement of Dr. Jacques Marchand (C-WS-38);

Sixth Witness Statement of Mr. Paolo Möder (C-WS-39);

Second Witness Statement of Mr. Christopher Ottsen (C-WS-40);

Second Witness Statement of Mr. José Pelaez (C-WS-41);

First Witness Statement of Mr. Paolo Romiti (C-WS-42);

Second Witness Statement of Dr. Ernest K. Schrader (C-WS-43);

Second Witness Statement of Mr. Nicola Valiante (C-WS-44);

First Witness Statement of Mr. Etienne Van Impe (C-WS-45);

First Witness Statement of Mr. Pieterjan Versteele (C-WS-46);

Third Witness Statement of Mr. Antonio Maria Zaffaroni (C-WS-47);

First Expert Report of Mr. Khaled W. Awad (C-EX-14);

Second Expert Report of Professor John C. Coates IV (C-EX-15);

First Expert Report of Dr. Matthew Dominick D’Ambrosia (C-EX-16);

Second Expert Report of Mr. Greg Gold (C-EX-17);

Fourth Expert Report of Mr. Timothy H. Hart (C-EX-18);

Fifth Expert Report of Dr. Arturo Hoyos (C-EX-19);

Second Expert Report of Mr. Martin Hunter (C-EX-20);

Second Expert Report of Professor Sidney Mindess (C-EX-21);

First Expert Report of Dr. Antonio Manuel Morales Moreno (C-EX-22);

Second Expert Report of Professor Lars-Olof Nilsson (C-EX-23);

First Expert Report of Dr. Randall Poston (C-EX-24);

Second Expert Report of Ms. Marianne Ramey (C-EX-25);

Second Expert Report of Mr. David Shilston (C-EX-26.1; C-EX-26.2; C-EX-26.3; C-EX-26.4; C-EX-26.5; C-EX-26.6);

First Expert Report of Professor Mercedes Suarez Barrios and Professor Emilia Garcia Romero (C-EX-27);

First Expert Report of Mr. José Andrés Troyano Peña (C-EX-28); and

First Expert Report of Mr. Jerry Wallace and Dr. Catherine Aimone-Martin (C-EX-29).

On 15 October 2018, the Respondent filed its Statement of Rejoinder, along with Factual Exhibits R-1090 to R-1618, Confidential Factual Exhibits CONF-R-0001 to CONF-R-1649, Legal Authorities RLA-0143 to RLA-0208, and the following witness statements and expert reports:

Second Witness Statement of Mr. Alberto Aleman (R-WS-17);

Second Witness Statement of Mr. Loren Belken (R-WS-21);

Second Witness Statement of Ms. Maurylis Coronado (R-WS-22);

Second Witness Statement of Dr. Guillermo Di Pace (R-WS-23);

Second Witness Statement of Ms. Cheryl George (R-WS-20);

First Witness Statement of Dr. Robert Hall (R-WS-29);

Second Witness Statement of Mr. Derek Irving (R-WS-24);

Second Witness Statement of Mr. Miguel Lorenzo (R-WS-25);

Second Witness Statement of Mr. Carlos McLean (R-WS-26);

Fourth Witness Statement of Mr. Francisco Miguez (R-WS-19);

Second Witness Statement of Mr. Riziero Montanari (R-WS-27);

First Witness Statement of Mr. Robert Thatcher (R-WS-28);

Third Witness Statement of Mr. Jorge Quijano (R-WS-18);

Second Expert Report of Mr. Adrian Dance (R-EX-18);

Third Expert Report of Professor Octavio Del Moral (R-EX-19);

Second Expert Report of Mr. Jeff Fuchs (R-EX-20);

Second Expert Report of Mr. Charles Hammond (R-EX-21);

Second Expert Report of Mr. Don Harvey (R-EX-22);

Second Expert Report of Professor Doug Hooton (R-EX-23);

Second Expert Report of Dr. Calvin Konya (R-EX-24);

Second Expert Report of Mr. Tom Kuper (R-EX-25);

Second Expert Report of Mr. Paul Lewis (R-EX-26);

Fourth Expert Report of Mr. Gervase MacGregor (R-EX-27);

Second Expert Report of Mr. Calvin McCall (R-EX-28);

Second Expert Report of Mr. Mike Pauletto (R-EX-29); and

Second Expert Report of Dr. David Rothstein (R-EX-30).

Third Witness Statement of Dr. Jacques Marchand (C-WS-48):

Sixth Expert Report of Dr. Arturo Hoyos (C-EX-30); and

Third Expert Report of Ms. Marianne Ramey (C-EX-31).

The Claimants indicated that the submission could be downloaded from their secure site.

On 19 January 2019, the Claimants requested that the Arbitral Tribunal confirm the Claimants’ right to use a demonstrative video "as parts of their General Opening Statement on 21 January 2019; or, in the alternative, admit the additional, publicly available ACP YouTube videos to the record".

On 11 June 2019, the Claimants wrote to the Arbitral Tribunal regarding the Respondent’s email of 9 June 2019, objecting to the Respondent's allegations.

Unless settled amicably, any dispute in respect of which the DAB's decision (if any) has not become final and binding shall be finally settled by international arbitration in law (within the meaning of Panamanian taw). Unless otherwise agreed by both Parties:

(a) the dispute shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce (the "Rules");

(b) in addition to the Rules, the arbitrators will be guided but will not be bound, by the International Bar Association Rules on the Taking of Evidence in International Commercial Arbitration:

(c) the dispute shall be settled by three arbitrators who shall all be licensed lawyers appointed in accordance with the Rules:

(d) the arbitration shall be decided in law (within the meaning of Panamanian law) and shall be conducted in the language for communications defined in SubClause 1.4 [Law and Language];

(e) the venue of the arbitration shall be Miami, Florida - United States of America; and

(f) the arbitration agreement and the arbitration shall be governed by the United States Federal Arbitration Act, 9 U.S.C. §§ 1 et seq.

The arbitrators shall have full power to open up. review and revise any certificate, determination, instruction, opinion or valuation of the Employer's Representative, and any decision of the DAB, relevant to the dispute. Nothing shall disqualify the Employer's Representative from being called as a witness and giving evidence before the arbitrators on any matter whatsoever relevant to the dispute.

Neither Party shall be limited in the proceedings before the arbitrators to the evidence or arguments previously put before the DAB to obtain its decision, or to the reasons for dissatisfaction given in its notice of dissatisfaction. Any decision of the DAB shall be admissible in evidence in the arbitration.

Arbitration may be commenced prior to or after completion of the Works. The obligations of the Parties, the Employer's Representative and the DAB shall not be altered by reason of any arbitration being conducted during the progress of the Works.¹

The Employer and the Contractor agree that it is their intention that all disputes referred to ICC arbitration pursuant to Sub-Clause 20.6 [Arbitration] of the Contract shall be the subject of final award by no later than October 31, 2018 [²]. The Employer and the Contractor agree to work together with each other, the DAB, any ICC tribunal and the ICC in good faith to put in place mutually agreeable timetables for all disputes so as to facilitate this goal. The Employer and the Contractor agree that they will each honor and promptly give full effect to and comply with any ICC arbitral award, notwithstanding that any such Party so complying may subsequently challenge or otherwise appeal or dispute such award in any court of competent jurisdiction.³

Any dispute arising out of, under or in connection with this Guarantee or out of the subject matter of this Guarantee shall be finally settled by international arbitration in law (within the meaning of Panamanian taw). Unless otherwise agreed by the Parties:

(a) the dispute shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce (the "Rules");

(b) in addition to the Rules, the arbitration shall be conducted according to the International Bar Association Rules on the Taking of Evidence in International Commercial Arbitration.

(c) the dispute shall be settled by three arbitrators who shall all be licensed lawyers appointed in accordance with these Rules;

(d) the arbitration shall be decided in law (within the meaning of Panamanian law) and conducted in the English language;

(e) the venue of the arbitration shall be Miami. Florida - United States of America; and

(f) the arbitration agreement and the arbitration shall be governed by the United States Federal Arbitration Act, 9 U.S.C. §§ 1 et seq.

Arbitration may be commenced prior to or after completion of the Works⁴

6.2 Any and all disputes or controversy arising out of or related to this Agreement, including its interpretation, application and enforcement, shall be resolved by international arbitration in law (within the meaning of Panamanian law).

6.3 Unless otherwise agreed by both Parties:

(a) the dispute shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce (the "Rules"):

(b) in addition to the Rules, the arbitrators shall be guided, but will not be bound, by the International Bar Association Rules on the Taking of Evidence in International Commercial Arbitration;

(c) the dispute shall be settled by three arbitrators who shall all be licensed lawyers appointed in accordance with the Rules, provided that the two arbitrators nominated by the Parties shall nominate by mutual agreement the presiding arbitrator:

(d) the arbitration shall be decided in law (within the meaning of Panamanian law) and shall be conducted in the English language;

(e) the seat, or legal place, of the arbitration shall be Miami, Florida -United States of America; and

(f) the arbitration agreement and the arbitration shall be governed by the United States Federal Arbitration Act, 9 U.S.C. §§ 1 et seq. except as modified herein or by the Rules.⁵

i. The project for the design and construction of the Third Set of Locks ("Project"), this being the primary component (and the subject of the present Arbitration).

ii. The excavation of new access channels for the new sets of locks and the widening of existing navigation channels. These works were included in separate work packages known as Pacific Access Channel 1 through 9.

iii. The deepening of the navigation channels and the raising of the Gatún Lake’s maximum operating level by 0.45 metres.

Upon conclusion of the pre-qualification phase, ACP identified four consortia as the Short-Listed Proposers who could continue to the tendering phase: (1) Consorcia C.A.N.A.L.; (2) Consorcia Atlántico-Pacifico de Panamá; (3) Consortia Bechtel, Taisei, Mitsubishi Corporation ("BTM"); and (4) the GUPC Consortium.

''Instructions to Tenderers" (Volume I, Part 1)³¹, issued pursuant to the Authority granted to the ACP in Article 81.6 of the "Compendio del Reglamento de Contractaciones de la Autoridad Del Canal De Panama", Agreement No. 24 of October 1999 (the "Regulation")³²;

"Employer's Requirements" (ER) (Volume 11), which set out ACP's technical requirements for the Project;³³

"Conditions of Contract" (Volume Ill), based on the 1999 edition of the FIDIC Conditions of Contract for Plant & Design-Build (FIDIC Yellow Book), amended;³⁴

"Employer's Evaluation Criteria" (Volume IV);³⁵

"Contractor’s Proposal" (Volume V);³⁶ and

"Reference Documents" (Volume VI), which contained the reference design and related drawings for the Project as well as geotechnical data and reports, including a "Geotechnical Report" ("GR").³⁷

1.1 Each of the Guarantors, jointly and severally:

(a) as primary obligor and not as surety, unconditionally, jointly and severally guarantees to the Employer the punctual performance by the New Contractor of each and all the obligations, warranties, duties and undertakings of the Contractor under and pursuant to the Contract according to the terms of the Contract; and

(b) if the New Contractor is in breach of its obligations, warranties, duties and undertakings as set out in sub-paragraph (a), shall upon demand by the Employer from time to time, forthwith perform the obligations, warranties, duties and undertakings of which the New Contractor is in breach in the same manner that the Contractor is required to perform such obligations, warranties, duties, and undertakings according to the terms of the Contract.

1.2 Each of the Guarantors, jointly and severally, unconditionally agrees as a separate and distinct obligation to its obligations set out in paragraph 1.1, to indemnify on demand the Employer against all losses, damages, costs and expenses which the Employer may suffer or incur arising out of or in any way in connection with (a) any breach by the Contractor of any of its obligations, warranties, duties and undertakings under the Contract, or (b) any proceedings taken by the Employer for the enforcement of any claim under this Guarantee or the Contract.⁵⁶