THE CORE STANDARD OF INTERNATIONAL INVESTMENT PROTECTION FAIR AND EQUITABLE TREATMENTPDF|Epub|txt|kindle电子书版本网盘下载

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Introduction1

Part Ⅰ The Framework of Protection15

Chapter 1 Sources of the FET Standard17

1.1. The Notion of Standard： In Search of a Definition17

1.1.1. Standards in the Technical， Business and ‘Everyday’ World18

1.1.2. Standards in the Legal World22

i. Historic Roots23

ii. Comparison with the Rule26

iii. Normative and Descriptive Elements of the Standard29

iv. Modern Definitions30

v. Own Definition33

vi. Summary33

1.2. Bilateral Investment Treaties： The ‘Treatification’ of Foreign Investment Law34

1.2.1. Historical Development of BITs： European Practice as a Role Model37

1.2.2. Reasons for the ‘Baby Boom of BITs’49

i. The Common Structure of Investment Treaties49

a. Preamble50

b. Definitions of Key Terms and Bars to Jurisdiction51

c. Admission64

d. Standards of Treatment67

e. The MFN Standard71

f. Expropriation79

g. Dispute Settlement81

h. Local Remedies82

i. Duration89

j. Conclusion and Outlook90

k. Summary92

ii. Shortcomings in Customary International Law93

a. The Pre-BIT Era93

b. Conclusion97

1.3. The ECT： Fruit of the Evolution of the BIT Regime98

1.3.1. The Charter Process： Three Years of Negotiations and One Farewell101

1.3.2. The Structure of the ECT： A Comparison with BITs107

i. General Composition and Definitions108

ii. Substantive Treatment： An Analysis of the ECT’s Article 10110

iii. Expropriation： The Comeback of Hull114

iv. Dispute Settlement： The Filling of Gaps to AvoidDuplicate Proceedings115

1.3.3. Conclusion and Summary123

1.4. Investment Treaties as Part of the Body of General International Law125

1.4.1. Customary Framework of FET125

i. FET and Customary International Law126

a. State Practice131

b. Opinio Iuris137

c. FET and the IMS145

1.4.2. The FET Standard - A General Principle of Law？153

i. The Birth of the ‘General Principle’：Principles and Standards as ‘Twins’？153

ii. The Use of General Principles by the ICJ and Arbitral Tribunals158

a. ICJ and PCIJ Cases158

b. Arbitral Cases in the Pre-ICSID Period161

c. Arbitral Cases in the Post-ICSID Period163

iii. The Relationship between FET and General Principles of Law169

1.4.3. Conclusion and Summary175

Chapter 2 Forums for Solving Investment Disputes Dealing with FET181

2.1. ICSID as a Permanent Mixed Arbitration Tribunal181

2.1.1. The Coming About of ICSID： A Self-Contained System of Arbitration183

2.1.2. ICSID Arbitration Procedure186

i. General Structure of the Centre186

ii. The Exclusivity of ICSID Proceedings187

iii. Starting ICSID Arbitration189

iv. Conduct of Proceedings195

2.1.3. Finality of ICSID Awards： An Exception to the Exclusivity Rule199

i. Recognition， Enforcement and Execution：Three Terms， but Two Meanings？200

ii. The ICSID Review Regime203

2.1.4. Additional Facility209

2.2. Other Arbitral Regimes210

2.2.1. Ad Hoc Arbitration： UNCITRAL as an Alternative to ICSID210

2.2.2. Other Arbitral Institutions215

i. International Chamber of Commerce215

ii. London Court of International Arbitration218

iii. Arbitration Institute of the SCC219

2.3. Conciliation or Mediation as an Alternative： An Old Tool Rediscovered？222

2.3.1. Conciliation and Mediation Described and Defined224

i. Alternatives to Arbitration and Litigation Enumerated in BITS224

ii. The Importance of Negotiations in Investment Relationships226

iii. Mediation and Conciliation： Differences and Commonalities228

iv. Advantages of the Use of Conciliation in Investment Disputes230

v. Disadvantages of Investment Conciliation and Possible Solutions233

vi. Conciliation Regimes235

a. UNCITRAL Conciliation Rules235

b. ICSID Conciliation Rules237

c. The ICC ADR Rules238

2.4. Conclusion and Summary240

Chapter 3 Concluding Analysis： The Investment Regime as a Regime of Networks243

Part Ⅱ The Content and Scope of the FET Standard251

Chapter 4 Determining the Applicable Law253

4.1. The Outset： Prevalence of Domestic Law for Certain （Procedural） Questions254

4.2. Step 1： Looking for Explicit Party Agreements257

4.2.1. Direct Agreement between Host State and Investor258

i. Law of the Host State Chosen by the Parties258

ii. Domestic Law Subject to a Stabilization Clause258

iii. Law of a Third State Chosen by the Parties262

iv. International Law as the Applicable Law262

v. The Law of the Contract as the Applicable Law263

vi. Host State’s Law and International Law as the Applicable Law264

4.2.2. Choice-of-Law Clauses in Treaties265

i. Choice-of-Law Clauses Contained in BITs265

ii. Choice-of-Law Clauses Contained in Multilateral Treaties268

4.2.3. Choice-of-Law Clauses in Domestic Legislation269

4.3. Step 2： Identifying Implicit Agreements270

4.3.1. Choice of International Arbitration as Implicit Agreement？270

4.3.2. Analysing the Contract and the Circumstances of the Case272

4.4. Step 3： Identifying Limitations on the Parties’ Freedom of Choice276

4.4.1. Mandatory Provisions of the Host State’s Law277

4.4.2. The Vague Notion of Public Policy279

4.5. Step 4： Dealing with an Absence of Agreed Choice of Law284

4.5.1. Application of Article 42（l） of the ICSID Convention284

4.5.2. Residual Rules in other Arbitration Systems290

4.6. Summary293

Chapter 5 Direct or Derivative Rights？295

5.1. The Individual as a Subject of International Law295

5.2. The Investment Treaty Regime as a Source of Rights for the Individual301

5.3. Investment Standards and Waivers308

5.4. Summary310

Chapter 6 The Content of the FET Standard311

6.1. Starting Points in the Analysis of FET Claims312

6.1.1. The Process of Interpretation： Defining ‘Fair’ and ‘Equitable’313

6.1.2. The Four Elements of a Successful FET Claim324

6.1.3. Summary327

6.2. FET as a Collection of Fact Patterns or as an Embodiment of the Rule of Law？328

6.2.1. Solutions Proposed by Tribunals and Scholars328

6.2.2. The FET Standard and the Four Pillars of the Rule of Law330

6.2.3. Summary337

6.3. Review of Administrative Decisions338

6.3. 1. The Protection of Legitimate Expectations in International Investment Law338

i. The Legal Foundation of the Protection of Legitimate Expectations339

a. Anglo-European Theories： Estoppel and Certainty340

b. Good Faith and Its Corollaries348

c. Administrative Efficacy359

d. Conclusion and Summary360

ii. Protection of Legitimate Expectations in WTO Law361

iii. Investment Arbitration Cases Recognizing Legitimate Expectations366

a. Synopsis of Relevant Case Law367

b. Summary386

iv. Governmental Conduct that Can Give Rise to Legitimate Expectations387

a. Formal Requirements391

b. Beneficial Effect396

c. Individualized Character398

d. Lawfulness402

e. Summary410

v. Legitimate and ‘Illegitimate’ Expectations： Relevance of Investors’ Conduct412

a. Reasonableness413

b. Compelling Reasons for Not Providing Protection424

vi. Conclusion and Summary429

6.3.2. Due Process in Administrative Decision-Making431

i. The Notion of Due Process432

ii. Case Law Concerning Due Process437

a. Right to Be Heard and Right to a Fair Hearing （Procedural Fairness）437

b. Inconsistency and Instability441

c. Transparency443

d. Coercion and Harassment447

e. Discrimination， Arbitrariness and Unreasonableness448

f. Summary454

6.4. Denial of Justice455

6.4.1. The Historical Evolution of Denial of Justice456

i. Reprisals and Gunboat Diplomacy： The Roots of Denial of Justice457

ii. Modern Approaches to Denial of Justice461

a. State Responsibility for the Conduct of the Judiciary461

b. No Responsibility for Misapplication of National and International Law462

c. Attempts at Codification464

6.4.2. Investment Arbitration Cases Dealing with Denial of Justice467

i. The Saipem Case： Denial of Justice as a Form of Expropriation？467

a. The Facts of the Saipem Case468

b. The Tribunal’s Reasoning470

ii. The Loewen Case： Canadian Firm Meets US Tort Monster？476

a. The Facts of the Loewen Case477

b. Extensive Obiter Dictum and Jurisdictional Issues480

c. The Tribunal’s Reasoning on the Merits483

iii. The Mondev Case： An Arbitral Tribunal Functioning as a Court of Appeal？492

a. The Facts of the Mondev Case493

b. The Tribunal’s Reasoning494

6.4.3. The Local Remedies Rule Revisited498

6.4.4. Conclusion and Summary502

6.5. The FET Standard and Human Rights： Interaction or Contradiction？504

6.5.1. Investors’ Human Rights507

6.5.2. Human Rights as a Defence for the Host State511

i. Three Different Defence Strategies511

ii. Privatization of Public Services： A Danger for Human Rights？515

a. The Right to Water516

b. Two Major Challenges for Investment Tribunals520

6.5.3. Concluding Analysis and Summary524

6.6. Concluding Considerations： The FET Standard and Other Standards528

6.6.1. FET and Expropriation528

6.6.2. FET and Non-Impairment529

6.6.3. FET and Full Protection and Security529

6.6.4. FET and MFN/NT534

Concluding Remarks539

Bibliography561

Table of Cases589

Table of Treaties and Conventions603

Index623