Between Fair And Equitable Treatment And Stabilization Clause
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Author | : Ioana Tudor |
Publisher | : Oxford University Press, USA |
Total Pages | : 348 |
Release | : 2008 |
Genre | : Business & Economics |
ISBN | : 0199235066 |
Download The Fair and Equitable Treatment Standard in the International Law of Foreign Investment Book in PDF, Epub and Kindle
This text analyses the conventional and customary framework of the fair and equitable treatment clauses commonly found in bilateral investment treaties (BITs) and charts how these clauses have become norms of customary international law.
Author | : Moshe Hirsch |
Publisher | : |
Total Pages | : 0 |
Release | : 2015 |
Genre | : |
ISBN | : |
Download Between Fair and Equitable Treatment and Stabilization Clause Book in PDF, Epub and Kindle
One of the most challenging questions in contemporary international Investment law relates to the balance between the competing needs of allowing a reasonable policy space for host states and enabling foreign investors to plan their operations in advance. The central question addressed by this article is whether and under what circumstances should regulatory changes undertaken by host states constitute a breach of the fair and equitable (FET) clause. Contemporary investment law anchors the balance between those competing interests in the contractual and semi-contractual sphere. An analysis of investment tribunals case law on 'stable legal environment' (or 'regulatory framework') indicates that this term includes three central components: (i) contractual and semi-contractual arrangements (e.g., contracts, licenses, concessions); (ii) unilateral promissory statements or specific representations (often made in a contractual environment); and (iii) the host state's regulatory measures at the time of the investment. The first two components are certainly the predominant components of 'legal environment.' Investors expectations created either by contractual arrangements, semi-contractual arrangements or promissory statements - are considered 'legitimate expectations' and are protected by the FET principle. As for the third component, host states' regulatory measures alone are insufficient in forming legitimate expectations protected by FET clauses. Only when such regulatory measures are accompanied by additional and exceptional factors, may the combination thereof amount to a breach of legitimate expectations protected by the FET principle. A brief review of the primary functions of contractual arrangements indicates that contractual and semi-contractual instruments are suitable for the advance allocation of risks involved in regulatory changes.
Author | : United Nations Conference on Trade and Development |
Publisher | : |
Total Pages | : 0 |
Release | : 2012 |
Genre | : Discrimination |
ISBN | : 9789211128277 |
Download Fair and Equitable Treatment Book in PDF, Epub and Kindle
"In recent years, the concept of fair and equitable treatment has assumed prominence in investment relations between States. While the earliest proposals that made reference to this standard of treatment for investment are contained in various multilateral efforts in the period immediately following World War II, the bulk of the State practice incorporating the standard is to be found in bilateral investment treaties which have become a central feature in international investment relations. In essence, the fair and equitable standard provides a yardstick by which relations between foreign direct investors and Governments of capital-importing countries may be assessed. It also acts as a signal from capital-importing countries, for it indicates, at the very least, a State's willingness to accommodate foreign capital on terms that take into account the interests of the investor in fairness and equity."--Provided by publisher.
Author | : August Reinisch |
Publisher | : Cambridge University Press |
Total Pages | : 1633 |
Release | : 2020-07-16 |
Genre | : Law |
ISBN | : 1108882706 |
Download International Protection of Investments Book in PDF, Epub and Kindle
This book outlines the protection standards typically contained in international investment agreements as they are actually applied and interpreted by investment tribunals. It thus provides a basis for analysis, criticism, and stocktaking of the existing system of investment arbitration. It covers all main protection standards, such as expropriation, fair and equitable treatment, full protection and security, the non-discrimination standards of national treatment and MFN, the prohibition of unreasonable and discriminatory measures, umbrella clauses and transfer guarantees. These standards are covered in separate chapters providing an overview of textual variations, explaining the origin of the standards and analysing the main conceptual issues as developed by investment tribunals. Relevant cases with quotations that illustrate how tribunals have relied upon the standards are presented in depth. An extensive bibliography guides the reader to more specific aspects of each investment standard permitting the book's use as a commentary of the main investment protection standards.
Author | : Abdallah Ali |
Publisher | : BRILL |
Total Pages | : 232 |
Release | : 2024-02-12 |
Genre | : Law |
ISBN | : 9004692754 |
Download Stabilization and Renegotiation Clauses in State Contracts, National Law and Investment Treaties Book in PDF, Epub and Kindle
How do host states and foreign investors balance the need for legal stability and regulatory flexibility in the complex world of international investment, against the backdrop of an ever-evolving global economy? This book uncovers unique insights into the delicate balance between legal stability and flexibility. Through in-depth analysis and real-world case studies, Dr. Abdallah Ali unveils the secrets behind stabilization and renegotiation clauses, demystifying their impact on investors, governments, and global trade. With rare access to historical data and illuminating examples, this work is an invaluable resource for legal practitioners, policymakers, and investors navigating the complexities of international investment terrain.
Author | : Jola Gjuzi |
Publisher | : Springer |
Total Pages | : 545 |
Release | : 2018-12-05 |
Genre | : Law |
ISBN | : 3319972324 |
Download Stabilization Clauses in International Investment Law Book in PDF, Epub and Kindle
This book analyzes the tension between the host state’s commitment to provide regulatory stability for foreign investors – which is a tool for attracting FDI and generating economic growth – and its evolving non-economic commitments towards its citizens with regard to environmental protection and social welfare. The main thesis is that the ‘stabilization clause/regulatory power antinomy,’ as it appears in many cases, contradicts the content and rationale of sustainable development, a concept that is increasingly prevalent in national and international law and which aims at the integration and balancing of economic, environmental, and social development. To reconcile this antinomy at the decision-making and dispute settlement levels, the book employs a ‘constructive sustainable development approach,’ which is based on the integration and reconciliation imperatives of the concept of sustainable development as well as on the application of principles of law such as non-discrimination, public purpose, due process, proportionality, and more generally, good governance and rule of law. It subsequently re-conceptualizes stabilization clauses in terms of their design (ex-ante) and interpretation (ex-post), yielding stability to the benefit of foreign investors, while also mitigating their negative effects on the host state’s power to regulate.
Author | : Roland Kläger |
Publisher | : Cambridge University Press |
Total Pages | : 411 |
Release | : 2011-06-23 |
Genre | : Law |
ISBN | : 0521197716 |
Download 'Fair and Equitable Treatment' in International Investment Law Book in PDF, Epub and Kindle
This book looks at fair and equitable treatment as a key standard of international investment law.
Author | : Aikaterini Florou |
Publisher | : BRILL |
Total Pages | : 261 |
Release | : 2020-03-02 |
Genre | : Law |
ISBN | : 9004407472 |
Download Contractual Renegotiations and International Investment Arbitration Book in PDF, Epub and Kindle
In Contractual Renegotiations and International Investment Arbitration, Aikaterini Florou explores the complex phenomenon of the renegotiation of investor-state contracts. The author reconstructs the relationship between those contracts and the overarching investment treaties using an original interpretative methodology based on transaction cost economics and relational contract theory.
Author | : Chester Brown |
Publisher | : Cambridge University Press |
Total Pages | : 747 |
Release | : 2011-11-17 |
Genre | : Law |
ISBN | : 1139503618 |
Download Evolution in Investment Treaty Law and Arbitration Book in PDF, Epub and Kindle
International investment law is in a state of evolution. With the advent of investor-State arbitration in the latter part of the twentieth century - and its exponential growth over the last decade - new levels of complexity, uncertainty and substantive expansion are emerging. States continue to enter into investment treaties and the number of investor-State arbitration claims continues to rise. At the same time, the various participants in investment treaty arbitration are faced with increasingly difficult issues concerning the fundamental character of the investment treaty regime, the role of the actors in international investment law, the new significance of procedure in the settlement of disputes and the emergence of cross-cutting issues. Bringing together established scholars and practitioners, as well as members of a new generation of international investment lawyers, this volume examines these developments and provides a balanced assessment of the challenges being faced in the field.
Author | : Patrick Dumberry |
Publisher | : Kluwer Law International B.V. |
Total Pages | : 352 |
Release | : 2024-07-15 |
Genre | : Law |
ISBN | : 9403525185 |
Download An Empirical Study of the Fair and Equitable Treatment Standard Clause Book in PDF, Epub and Kindle
Although the vast majority of investment treaties include a fair and equitable treatment (FET) clause, a considerable degree of variation in the actual content of the clause remains. In this important book by a well-known authority in international investment law analyses how tribunals have concretely interpreted FET clauses in relation to the minimum standard of treatment (MST), with detailed reference to all publicly available awards dealing with the provision rendered by arbitral tribunals in the past 25 years. This first comprehensive survey of case law since the 2012 UNCTAD Report highlights the following important trends: tribunals have interpreted the status of a FET clause and its relationship with the MST differently depending on the specific wording of each provision; how a tribunal analyses the status of a clause has a direct impact on the interpretation (broad or narrow) it gives to the content of the standard, including whether or not it includes protecting investors’ legitimate expectations; the way a tribunal analyses this issue has, in turn, a direct impact on how it addresses matters of liability and compensation; and the success rate of claims filed under ‘stand-alone’ FET clauses (containing no mention of ‘international law’ or any other standard) and those referring to ‘international law’ is much higher compared to clauses expressly linked to the MST. This book is the first to provide solid empirical evidence showing that the scope of the FET protection under a treaty very much depends on the type of clause being applied by a tribunal. The author’s thorough analysis will provide arbitrators and counsel with useful guidelines to assess how the clause has been interpreted by tribunals. It will also offer States and other stakeholders an in-depth analysis of some of the pitfalls and benefits that are associated with each different type of FET clause.