The law of investment treaties:
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1. Verfasser: | |
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Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Oxford [u.a.]
Oxford Univ. Press
2010
|
Ausgabe: | 1. publ. |
Schriftenreihe: | The Oxford international law library
|
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis Klappentext |
Beschreibung: | Hier auch später erschienene, unveränderte Nachdrucke |
Beschreibung: | XXXVI, 517 S. |
ISBN: | 9780199206056 0199206058 |
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Datensatz im Suchindex
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adam_text | Contents
List of Abbreviations
xxi
Table of Cases
xxiii
Table of Conventions, Treaties, and Agreements
xxix
1.
A Global Regime for Investment
1
1.1
Introduction to Investment Treaties
1
1.2
The Significance of Investment Treaties
3
1.3
A Regime for International Investment
5
1.4
The Application of Regime Theory to Investment Treaties
6
(a) Regime elements
6
(b) Regime principles
6
(c) Regime norms
9
(d) Regime rules
10
(e) Regime decision-making
10
1.5
A Different Kind of Regime
11
(a) Bilateral construction
12
(b) Privatized decision-making
13
1.6
Regime Challenges
14
1.7
The Aim and Scope of This Book
16
2.
The Nature and Significance of International Investment
18
2.1
Introduction
18
2.2
The Meaning of Investment
18
2.3
Forms of Investment
19
(a) Property and contractual rights resulting from investments
19
(b) Control attributes of the investment
20
(c) Enterprise form
22
2.4
The Nature of Investors
22
(a) Private investors
23
(b) State investors
24
(c) International organizations
25
(d) Mixed enterprises
25
2.5
The Role of Return and Risk
26
2.6
The Nature of International Investment
27
2.7
Forms of International Investment
29
(a) Foreign direct investment
29
(b)
Foreign portfolio investment
30
(c)
International loans
31
(d) International bonds
31
(e) Suppliers and others credits
32
(f) Other contractual arrangements
32
2.8
The Nature of International Investors
33
2.9
State Interests in International Investment
35
3.
The Foundations of International Investment Law
37
3.1
Background of the Investment Treaty Movement
37
3.2
State and Investor Interests Shaping International
Investment Law
37
(a) Host country interests
38
(b) Investor interests
39
(c) Investor home country interests
39
(d) Conflicts of interest and their settlement
40
3.3
The Sources of International Law
42
(a) In general
42
(b) International conventions
43
(c) International custom
45
(d) General principles of law
46
3.4
Customary International Law and General Principles of
Law Governing International Investment
46
(a) Introduction
46
(b) Standards of treatment owed to aliens by host states
47
(c) The application and enforcement of a minimum standard
49
3.5
Customary International Law on Expropriation and
Breach of State Contracts
54
(a) In general
54
(b) Taking under international law
55
(c) Public purpose
57
(d) Discrimination
57
(e) Compensation
58
(f) Breaches of state contracts
60
3.6
Challenges to Western Views on International Investment Law
62
(a) Background
62
(b) The Soviet challenge
62
(c) The Latin American challenge
65
(d) The post-colonial challenge
68
3.7
Deficiencies of Customary International Law on Investment
75
4.
A History of International Investment Treaties
78
4.1
Introduction: The Treadfication of International Investment
Law
78
4.2
Historical Background of the Treatification Process
79
(a) The early beginnings
80
(b) The emergence of a treaty framework for investment
protection in the seventeenth and eighteenth centuries
81
(c) Further developments in the eighteenth, nineteenth, and
early twentieth centuries
83
(d) From World War I until World War II
85
(e) The immediate aftermath of World War II
86
(f) The later post-World War II years
88
(i) Bikteral efforts
88
(it) Multihteral efforts
90
(g) The development of the bilateral investment treaty (BIT)
and the creation of the International Centre for Settlement
of Investment Disputes (ICSID)
91
(h) The gathering momentum of the BIT movement
95
(i) The development of multilateral regional and sector
investment agreements
97
(i) Arab States Investment Agreement
97
(it) ASEAN Investment Agreement
98
(iii)
Mercosur Investment Treaties
99
(iv)
COMESA Treaty
99
(v) North American Free Trade Agreement
100
(vi)
The Energy Charter Treaty
102
(j) The evolution of BIT provisions into free trade
agreements
103
(k) Towards a global treaty on investment
104
(1)
Conclusion
108
4.3
The Objectives of the Movement to Negotiate Investment
Treaties
108
4.4
The Primary Objectives of Investment Treaties
109
(a) Investment protection
109
(b) Investment promotion
110
4.5
Secondary Objectives of Investment Treaties 111
(a) Market liberalization
112
(b) Relationship building
113
(c) Domestic investment encouragement
113
(d) Improved governance and a strengthened rule of law
114
4.6
Long-Term
Goals of Investment Treaties
114
4.7
The Treaty Negotiation Process
115
(a) Bilateral negotiation processes
115
(b) Multilateral negotiation processes
117
4.8
The Consequences of Investment Treaties
118
(a) Investment protection
118
(b)
Investment
promotion
120
(c)
Economic liberalization
121
(і)
An absolutist evaluation of liberalization
122
(it) A rebtivist evaluation of liberalization
124
(d) Conclusion
125
5.
The General Structure of Investment Treaties
126
5.1
A Structural Overview
126
5.2
Scope of Application of Investment Treaties
128
5.3
Conditions for the Entry of Foreign Investment and Investors
130
5.4
General Standards of Treatment of Foreign Investments and
Investors
131
(a) Fair and equitable treatment
131
(b) Full protection and security
132
(c) Unreasonable or discriminat©ry measures
132
(d) International law
133
(e) State obligations
133
(f) National and/or most-favoured-nation treatment
133
5.5
Monetary Transfers
134
5.6
Expropriation and Dispossession
135
5.7
Operational and Other Conditions
135
5.8
Losses from Armed Conflict or Internal Disorder
136
5.9
Treaty Exceptions, Modifications, and Terminations
136
5.10
Dispute Settlement
137
5.11
Conclusion
138
6.
The Interpretation of Investment Treaties
139
6.1
The Task of Interpretation
139
6.2
Rules of Interpretation
140
6.3
The Treaty Text
140
(a) Sources of investment treaty texts
140
(i) Government sources
140
(it) International organization sources
142
The United Nations
142
United Nations Conference on Trade and Development
(UNCTAD)
143
International Centre for Settlement of Investment Disputes
(ICSID)
143
Organization of American States
(OAS)
143
Energy Charter Treaty
143
(iii)
Unofficial and non-governmental sources of investment
treaty texts
144
(b) The language of treaty texts
144
6.4
Ordinary Meaning of Treaty Terms
146
6.5
Context of Treaty Terms and Object and Purpose of the
Treaty
146
6.6
Subsequent Agreement and Subsequent Practice
148
G.I Relevant Rules of International Law Applicable between the
Parties
150
6.8
Special Meanings Intended by the Parties
152
6.9
Supplementary Means of Interpretation
152
6.10
Arbitration and Judicial Decisions
155
6.11
Scholarly Commentary on Investment Treaties
156
7.
Scope of Application of Investment Treaties
158
7.1
The Significance of a Treaty s Scope of Application
158
7.2
Investments Covered by Investment Treaties
160
7.3
Broad Asset-Based Definitions of Investments with an
Illustrative List of Investment Forms
160
7.4
Broad Asset-Based Definitions Specifying Substantive
Investment Characteristics as well as Illustrative Forms
163
7.5
Asset-Based Definitions with an Exhaustive List of Investment
Forms
165
7.6
Limitations on Definitions of Investment
166
(a) Legal requirements
167
(b) Territorial requirements
169
(c) Temporal requirements
172
(d) Sector requirements
174
(e) Approved project requirements
175
7.7
Arbitral Applications or Investment Definitions in Special
Situations
177
(a) Pre-investment expenditures
177
(b) Minority shareholdings
181
(c) Indirect shareholdings
184
7.8
Investors Covered by Investment Treaties
186
(a) Natural persons as investors
187
(b) Companies and other legal entities as investors
187
8.
Investment Promotion, Admission, and Establishment
191
8.1
State Sovereignty and Foreign Investment
191
8.2
Foreign Investment Promotion
193
8.3
Admission of Investments
195
8.4
Admission According to Host Country Law
196
8.5
Grants of a Relative Right of Establishment
199
8.6
Grants of an Absolute Right of Establishment
203
9.
General
Treatment
Standards 205
9.1
The Nature of
Investment and Investor
Treatment
205
9.2
General Treatment Standards in General
206
9.3
Protection and Security
207
(a) In general
207
(b) Historical origins of the term
208
(c) Full protection and security in the modern era
210
(d) Conclusion
217
9.4
Fair and Equitable Treatment
218
(a) Background
218
(b) Formulation of the standard
220
(c) The complexities of interpreting and applying the
standard
221
(d) Differing concepts of the fair and equitable standard
222
(i) Fair and equitabh treatment as the international minimum
standard 111
(it) Fair and equitable treatment standard as an autonomous
standard additional to international hw
226
(e) The content of the standard
228
(i) Failure to protect the investor s legitimate expectations
1Ъ
(ii)
Failure to act transparently
237
(iii)
Arbitrary and discriminatory actions
238
(iv)
Denial of justice or due process
241
(v) Good faith
243
(f) Conclusion
243
9.5
Other General Standards of Treatment
245
9.6
National Treatment
245
(a) Competition and discrimination
245
(b) National treatment in investment treaties
246
(c) The application of the national treatment standard
247
(i) With whom should the cUimant be compared?
248
(it) What is the nature of the difference in treatment?
250
(iii)
Is the difference in treatment justified?
250
9.7
Most-Favoured-Nation Treatment
251
9.8
Compensation for Breach of General Treatment Standards
254
10.
Monetary Transfers and Treatment
256
10.1
Background
256
10.2
The General Scope of the Right to Make Transfers
257
10.3
Types of Payments Covered by Transfer Provisions
261
10.4
The Currency of Transfer
264
10.5
The Applicable Exchange Rate
265
10.6
The Time for Effecting Transfers
266
10.7
Exceptions
266
11.
Treatment of State Obligations (The Umbrella Clause )
271
11.1
The Problem of the Obsolescing Bargain
271
11.2
Umbrella Clauses in General
273
11.3
Historical Background of the Umbrella Clause
276
11.4
Formulations of the Umbrella Clause
277
11.5
Application of the Umbrella Clause
279
11.6
A Framework for Applying Umbrella Clauses
283
12.
Protection Against Expropriation, Nationalization, and
Dispossession
285
12.1
The Risk of Expropriation, Nationalixation, and
Dispossession
285
12.2
Investment Treaty Provisions on Expropriation,
Nationalization, and Dispossession
287
12.3
The Scope of Expropriation, Nationalization, and
Dispossession Clauses
289
(a) The nature of the expropriating actor
289
(b) The nature of the property expropriated
290
(c) The nature of the expropriating act
291
12.4
Direct Expropriations, Nationalizations, and Dispossessions
294
12.5
Indirect Expropriations, Nationalizations, and Dispossessions
297
12.6
Governmental Actions Equivalent or Tantamount to
Expropriation
299
12.7
Types of Government Measures that May Constitute Indirect
Expropriation
300
(a) Disproportionate tax increases
301
(b) Interference with contractual rights
302
(c) Unjustified interference with the management of the
investment
304
(d) Revocation or denial of government permits or licences
305
12.8
Criteria for Distinguishing Indirect Expropriation from
Legitimate Regulation
307
(a) Degree of interference with investor property rights
307
(i) Severity of economic impact and hss of effective control
308
(ii) Duration of the governmental measure
310
(b) Frustration of the investor s legitimate expectations
311
(c) Lack of proportionality
313
(d) Non-transparency, arbitrariness, and discrimination
315
(e) Sole effects versus purpose and context of the measure
316
12.9
Newer Treaties Approach to Distinguishing Legitimate
Regulation from Indirect Expropriation
318
12.10
Conditions for the Legality of Expropriations,
Nationalizations, and Dispossessions
320
(a) Expropriation measure must be for a public purpose
320
(b) Expropriation must not be discriminatory
321
(c) Expropriation must take place in accordance with
due process of law
322
(d) Expropriation must be accompanied by compensation
323
(i) The standard of compensation
323
(it) Valuation method
325
(Hi) Application of valuation methods to specific expropriated
assets
326
(iv)
A final problem
Ъ1Л
13.
Other Treatment Standards
329
13.1
Introduction
329
13.2
Treatment with Respect to Performance Requirements
329
13.3
Entry and Residence of Foreign Nationals and Managerial
Personnel
333
13.4
Compensation for Losses Due to War, Revolution, and Civil
Disturbance
336
14.
Investment Treaty Exceptions, Modifications, and Terminations
340
14.1
The Tensions of Investment Treaties
340
14.2
Treaty Exceptions
341
(a) In general
341
(b) Exceptions to protect essential security interests and
the maintenance of public order
342
(i) The self-judging nature of the exception cUuse
344
(ii) Application of exception clauses to economic crises
345
(Hi) Elements justifying the exception
346
(c) Exceptions for specified national legislation
348
14.3
Treaty Modifications
349
14.4
Treaty Terminations
351
15.
Investment Treaty Dispute Settlement
353
15.1
The Significance of Investment Treaty Dispute Settlement
353
15.2
The Nature of Disputes between States and Investors
354
15.3
Traditional, Non-Treaty Methods of Resolving
Investor-State Disputes
357
(a) Direct negotiations with host governments
357
(b)
Local courts
357
(c)
Diplomatic protection
358
15.4
Treaty Methods for Resolving Investment Disputes
359
15.5
Interstate Consultations and Negotiations
360
15.6
Interstate Arbitration
362
15.7
Investor-State Consultations and Negotiations
363
15.8
Investor-State Arbitration
369
(a) The nature and evolution of international arbitration
369
(b) The development of investor-state arbitration
374
(c) The incorporation of investor-state arbitration into
treaties
380
(d) Governing law
382
(e) The differing natures of investor-state arbitration
provisions
384
(i) The unequivocal nature of the state s consent to arbitrate
384
(it) The scope of consent
385
(iii)
Conditions precedent to invoking investor-state arbitration
386
(iv)
Ava^bL· dispute resolution forums
387
(f) The growth and significance of investor—state arbitration
387
(g) Waiver of investor rights to investor-state arbitration
390
A Selection of Investment Treaty Texts
393
Appendix A: ASEAN Investment Agreement
393
Appendix B: NAFTA (Investment Provisions)
399
Appendix C: United States-Australia Free Trade Agreement
(Investment Provisions)
418
Appendix D: Korea-Japan Bilateral Investment Treaty
428
Appendix E: Energy Charter Treaty (Investment Provisions)
444
Appendix F: Saudi Arabia—Malaysia Bilateral Investment Treaty
451
Appendix G: Thailand—Switzerland Bilateral Investment Treaty
459
Appendix H: United States-Poland Bilateral Investment Treaty
466
A Selective Bibliography on Investment Treaties
485
Index
491
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 the governments that are parties to them.
The international law governing transnational
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 over
2600
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.
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. Finally, this book also discusses
dispute settlement, including negotiation,
arbitration, conciliation, and judicial
proceedings.
|
any_adam_object | 1 |
author | Salacuse, Jeswald W. |
author_GND | (DE-588)170169634 |
author_facet | Salacuse, Jeswald W. |
author_role | aut |
author_sort | Salacuse, Jeswald W. |
author_variant | j w s jw jws |
building | Verbundindex |
bvnumber | BV035969667 |
callnumber-first | K - Law |
callnumber-label | K3830 |
callnumber-raw | K3830 |
callnumber-search | K3830 |
callnumber-sort | K 43830 |
callnumber-subject | K - General Law |
classification_rvk | PR 2353 |
ctrlnum | (OCoLC)503260773 (DE-599)BSZ312742118 |
dewey-full | 346.092 |
dewey-hundreds | 300 - Social sciences |
dewey-ones | 346 - Private law |
dewey-raw | 346.092 |
dewey-search | 346.092 |
dewey-sort | 3346.092 |
dewey-tens | 340 - Law |
discipline | Rechtswissenschaft |
edition | 1. publ. |
format | Book |
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id | DE-604.BV035969667 |
illustrated | Not Illustrated |
indexdate | 2024-07-09T22:08:46Z |
institution | BVB |
isbn | 9780199206056 0199206058 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-018863701 |
oclc_num | 503260773 |
open_access_boolean | |
owner | DE-29 DE-12 DE-20 DE-11 DE-739 DE-703 DE-19 DE-BY-UBM DE-M382 DE-188 DE-945 |
owner_facet | DE-29 DE-12 DE-20 DE-11 DE-739 DE-703 DE-19 DE-BY-UBM DE-M382 DE-188 DE-945 |
physical | XXXVI, 517 S. |
publishDate | 2010 |
publishDateSearch | 2010 |
publishDateSort | 2010 |
publisher | Oxford Univ. Press |
record_format | marc |
series2 | The Oxford international law library |
spelling | Salacuse, Jeswald W. Verfasser (DE-588)170169634 aut The law of investment treaties Jeswald W. Salacuse 1. publ. Oxford [u.a.] Oxford Univ. Press 2010 XXXVI, 517 S. txt rdacontent n rdamedia nc rdacarrier The Oxford international law library Hier auch später erschienene, unveränderte Nachdrucke Investitionsschutzabkommen (DE-588)4199281-7 gnd rswk-swf Rechtsschutz (DE-588)4048835-4 gnd rswk-swf Internationales Vertragsrecht (DE-588)4027458-5 gnd rswk-swf Internationales Privatrecht (DE-588)4027446-9 gnd rswk-swf Auslandsinvestition (DE-588)4003772-1 gnd rswk-swf Investitionsschutzabkommen (DE-588)4199281-7 s DE-604 Auslandsinvestition (DE-588)4003772-1 s Rechtsschutz (DE-588)4048835-4 s Internationales Privatrecht (DE-588)4027446-9 s Internationales Vertragsrecht (DE-588)4027458-5 s b DE-604 Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018863701&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018863701&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
spellingShingle | Salacuse, Jeswald W. The law of investment treaties Investitionsschutzabkommen (DE-588)4199281-7 gnd Rechtsschutz (DE-588)4048835-4 gnd Internationales Vertragsrecht (DE-588)4027458-5 gnd Internationales Privatrecht (DE-588)4027446-9 gnd Auslandsinvestition (DE-588)4003772-1 gnd |
subject_GND | (DE-588)4199281-7 (DE-588)4048835-4 (DE-588)4027458-5 (DE-588)4027446-9 (DE-588)4003772-1 |
title | The law of investment treaties |
title_auth | The law of investment treaties |
title_exact_search | The law of investment treaties |
title_full | The law of investment treaties Jeswald W. Salacuse |
title_fullStr | The law of investment treaties Jeswald W. Salacuse |
title_full_unstemmed | The law of investment treaties Jeswald W. Salacuse |
title_short | The law of investment treaties |
title_sort | the law of investment treaties |
topic | Investitionsschutzabkommen (DE-588)4199281-7 gnd Rechtsschutz (DE-588)4048835-4 gnd Internationales Vertragsrecht (DE-588)4027458-5 gnd Internationales Privatrecht (DE-588)4027446-9 gnd Auslandsinvestition (DE-588)4003772-1 gnd |
topic_facet | Investitionsschutzabkommen Rechtsschutz Internationales Vertragsrecht Internationales Privatrecht Auslandsinvestition |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018863701&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018863701&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
work_keys_str_mv | AT salacusejeswaldw thelawofinvestmenttreaties |