Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

International Commercial Arbitration and Globalization

International Commercial Arbitration and Globalization I. INTRODUCTION: THE DISTINCTIVE FEATURES OF INVESTMENT TREATY ARBITRATION The burgeoning case-law arising from arbitrations under bilateral and regional investment treaties has raised a plethora of interesting issues both substantive and procedural. This article focuses on the procedural side and considers questions arising in relation to challenges to investment treaty arbitration awards and, in particular, issues concerning the forum for such challenges. The development of treaty-based foreign investment dispute resolution mechanisms arose out of the need to supplement customary international law rules at a time when newly independent States required foreign capital in order to develop their economies. They were often unable to attract foreign investment and wealth-creating international transactions in the absence of reliable protections for investors. The first bilateral investment treaty (BIT) was signed in 1959. Early BITS involved reciprocal undertakings between States whereby each State guaranteed a minimum standard of treatment to investors of the other State. These treaties did not confer any rights on investors which they could enforce directly against a host State. Instead, disputes had to be resolved between the States parties to the treaties. The established rules of international law have been helpfully summarized as follows: "For most purposes, individuals and http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

International Commercial Arbitration and Globalization

Journal of World Investment and Trade , Volume 4 (2): 26 – Jan 1, 2003
Download PDF
26 pages

Loading next page...
 
/lp/brill/international-commercial-arbitration-and-globalization-q9tnLkgYXy

References

References for this paper are not available at this time. We will be adding them shortly, thank you for your patience.

Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190003X00363
Publisher site
See Article on Publisher Site

Abstract

I. INTRODUCTION: THE DISTINCTIVE FEATURES OF INVESTMENT TREATY ARBITRATION The burgeoning case-law arising from arbitrations under bilateral and regional investment treaties has raised a plethora of interesting issues both substantive and procedural. This article focuses on the procedural side and considers questions arising in relation to challenges to investment treaty arbitration awards and, in particular, issues concerning the forum for such challenges. The development of treaty-based foreign investment dispute resolution mechanisms arose out of the need to supplement customary international law rules at a time when newly independent States required foreign capital in order to develop their economies. They were often unable to attract foreign investment and wealth-creating international transactions in the absence of reliable protections for investors. The first bilateral investment treaty (BIT) was signed in 1959. Early BITS involved reciprocal undertakings between States whereby each State guaranteed a minimum standard of treatment to investors of the other State. These treaties did not confer any rights on investors which they could enforce directly against a host State. Instead, disputes had to be resolved between the States parties to the treaties. The established rules of international law have been helpfully summarized as follows: "For most purposes, individuals and

Journal

Journal of World Investment and Trade – Brill

Published: Jan 1, 2003

There are no references for this article.