SSRN Electronic Journal · 2013 · 87 citations · 0 references
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LawInternational LawInternational Dispute SettlementInternational Investment LawPublic International LawArbitral AwardsArbitrationDispute ResolutionInvestment TreatiesSpecialized International TribunalsAbsolute Standards Of ProtectionArbitration Of Investment DisputesEquitable FundingInternational AwardsInvestment Treaty ArbitrationInvestment Treaty Protection StandardsJurisdiction Of Arbitral TribunalsSubstantive Standards Of Treatment
Since the beginning of the decade, international arbitral tribunals have struggled unsuccessfully to define the obligation of “fair and equitable treatment” required by the vast majority of the world’s 2,600 bilateral investment treaties (BITs). Although by the end of 2008 more than fifty awards had been issued by international tribunals interpreting that standard, none of them has purported to offer a unified theory of the standard. This article endeavors to supply such a theory.