CONCEPTUALIZING THE INTERPRETATION AND APPLICATION OF THE PRINCIPLE OF FAIR AND EQUITABLE TREATMENT UNDR BILATERAL INVESTMENT TREATIES
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Abstract
The objective of this research was to study Fair and Equitable Treatment (hereinafter “FET”) as one of an investment protection standards contained in most Bilateral Investment Treaties (hereinafter “BITs”) nowadays.
Due to the absence of its definition provided in such BITs, this research thus continue examining Investor-State Dispute Settlement (ISDS) in relation to FET based claims under BITs: the International Centre for Settlement of Investment Disputes (ICSID) and Ad-hoc arbitration including FET based claims brought before the International Court of Justice (ICJ) in order to determine how arbiters in particular cases applied and interpreted the FET standard under BITs.
Furthermore, this research was also try to identify the differences (if any) of the interpretation of FET under BITs among international dispute settlement organizations in practice.
In addition, each elements as well as the criteria that arbiters take into account for rendered their decisions and/or awards were pointed out in order to give a more certain view of the interpretation and application as well as the current legal status of FET standard to assist both investors and host States to handle with the upcoming FET based claims in this age.
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References
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