Details
- Clarifies this complex area by focusing on common issues and principal trends covered by the approximately 3000 different investment treaties in existence
- Explores vital areas including protection against government interference and expropriation, the entry and establishment of foreign investment, compensation for losses , and investor-state dispute settlement
- Extensive discussion of arbitrations and judicial decisions
- Includes a comprehensive bibliography and exhaustive tables of arbitration cases
Investment treaties, which grant special international protection to foreign investors and give them a means to enforce those rights against States in which they have invested, have become increasingly important in planning, executing and managing international investments. The Law of Investment Treaties explains the nature, history, and significance of investment treaties and their impact on international investors and investments, as well as on governments that are parties to them.
The international law governing trans-national investments has undergone a remarkable transformation in a relatively short time. The fundamental tool for effecting that transformation has been the investment treaty, in which contracting countries set down rules to govern investments by their respective nationals in each other's territories. They include the North American Free Trade Agreement, the Energy Charter Treaty, and some 2500 bilateral investment treaties. This trend is bound to grow in the future. While differing in particular provisions, investment treaties all do two things: 1) they grant special protective rights to foreign investors, and 2) they provide for mechanisms that allow investors to enforce those rights, usually by international arbitration.
The Law of Investment Treaties examines the nature, history, and significance of investment treaties and their impact particularly on protected investors and investments, as well as on governments. Although the precise provisions of investment treaties are not uniform and some treaties restrict host country governmental action more than others, virtually all investment treaties address the same issues. Drawing on the growing body of arbitration decisions applying and interpreting investment treaties, this book examines in detail these common issues, including the scope of application, conditions for the entry of foreign investment and general standards of treatment of foreign investments (including increasingly common concepts such as "fair and equitable treatment" "national treatment", "most-favoured-nation treatment" etc.). Monetary transfers, operational conditions, protection against expropriation and dispossession and compensation for losses are also explored. Salacuse also discusses dispute settlement, including negotiation, arbitration, conciliation, and judicial proceedings.
Preface
Table of Cases
Table of Conventions, Treaties, and Agreements Abbreviations
1: A Global Regime for Investment
2: The Nature and Significance of International Investment
3: The Foundations of International Investment Law
4: A History of International Investment Treaties
5: The General Structure of Investment Treaties
6: The Interpretation of Investment Treaties
7: Scope of Application of Investment Treaties
8: Investment Promotion, Admission, and Establishment
9: General Treatment Standards
10: Monetary Transfers and Treatment
11: Treatment of State Obligations (The 'Umbrella Clause')
12: Protection Against Expropriation, Nationalization, and Dispossession
13: Other Treatment Standards
14: Investment Treaty Exceptions, Modifications, and Terminations
15: Investment Treaty Dispute Settlement
A Selection of Investment Treaty Texts
A Selective Bibliography on the Law of Investment Treaties
Index
Jeswald W. Salacuse, Henry J. Braker Professor of Law, The Fletcher School of Law and Diplomacy, Tufts University
Jeswald W. Salacuse is Henry J. Braker Professor of Law at The Fletcher School of Law and Diplomacy, Tufts University. Professor Salacuse has practiced law with a Wall Street firm, advised numerous governments and multinational corporations on investment law and has taught at universities throughout the world. He has also served as president and a member of international arbitration tribunals under the auspices of the World Bank's International Centre for Settlement of Investment Disputes ( ICSID). Professor Salacuse is a former dean of the Fletcher School and of the School of Law of Southern Methodist University. He is a member of the American Law Institute and the Council on Foreign Relations.
"This is an extremely useful overview of the subject to understand the contributions and the contents of BITs" - Walid Ben Hamida, Emanuelle Cabrol and Fermat Morchani, Chronique De La Periode
