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Travelling the BIT Route

Travelling the BIT Route I. INTRODUCTION In recent years, the majority of cases in investment arbitration have been based on bilateral investment treaties (BITS). These treaties typically provide for investor-State arbitration by making an offer of consent to arbitration to eligible investors. Consent is perfected upon the acceptance of that offer by the investor, often simply through the institution of proceedings.1 I The provisions in BITS for investor-State arbitration are by no means unifornl. Most of them refer to the International Centre for Settlement of Investment Disputes (Icsm). Often, the ICSID Additional Facility, the United Nations Commission on International Trade Law (UNC�Trtn�) or other fornis of arbitration are offered in the alternative. The BITS also define the parameters for the activities of tribunals in investor-State arbitration. Jurisdiction may be subject to certain procedural requirements. For instance, a claimant may be required to attempt to reach an amicable settlement for a certain period of time. The competence of arbitral tribunals may depend on proceedings in the host State's domestic courts. For instance, the BIT may require the exhaustion of local remedies; or it may require the investor to choose between domestic courts and international arbitration. The subject-matter jurisdiction of tribunals also varies. It http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

Travelling the BIT Route

Journal of World Investment and Trade , Volume 5 (2): 250 – Jan 1, 2004
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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190004X00443
Publisher site
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Abstract

I. INTRODUCTION In recent years, the majority of cases in investment arbitration have been based on bilateral investment treaties (BITS). These treaties typically provide for investor-State arbitration by making an offer of consent to arbitration to eligible investors. Consent is perfected upon the acceptance of that offer by the investor, often simply through the institution of proceedings.1 I The provisions in BITS for investor-State arbitration are by no means unifornl. Most of them refer to the International Centre for Settlement of Investment Disputes (Icsm). Often, the ICSID Additional Facility, the United Nations Commission on International Trade Law (UNC�Trtn�) or other fornis of arbitration are offered in the alternative. The BITS also define the parameters for the activities of tribunals in investor-State arbitration. Jurisdiction may be subject to certain procedural requirements. For instance, a claimant may be required to attempt to reach an amicable settlement for a certain period of time. The competence of arbitral tribunals may depend on proceedings in the host State's domestic courts. For instance, the BIT may require the exhaustion of local remedies; or it may require the investor to choose between domestic courts and international arbitration. The subject-matter jurisdiction of tribunals also varies. It

Journal

Journal of World Investment and Trade – Brill

Published: Jan 1, 2004

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