EBOOK Fair and Equitable Treatment Standard in the International Law of Foreign                Inves -

EBOOK Fair and Equitable Treatment Standard in the International Law of Foreign Inves

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Wydawnictwo: Oxford University Press
ISBN: 9780191607974
EAN: F86D0992EB
Format: 0,0 x 0,0 x 0,0
Oprawa: ...
Stron: 352
Data wydania: 2008
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The treatment of foreign investors and of their investments on the territory of a        host State is often subject to a bilateral investment treaty (BIT) signed by the        national State of the investors and the host State. These BITs usually contain a        clause in which the two States offer fair and equitable treatment (FET) to the        foreign investors on their territory. Moreover, this clause has become a norm of        customary law, implying that investors may rely on it even outside the context ofthe        BIT. Foreign investors whose rights under this clause have not been respected may        bring the State in front of an international tribunal. This book analyses not only        the conventional and customary framework se the FET clause but also its scope and        all its applications in the existing case law.This book tackles the standard of fair        and equitable treatment by applying four conceptual frames: the legal basis of FET,        its nature as a standard, its content and finally the implications of its breach.          The first two chapters explore the two classical sources of international law as        possible sources for FET. The main sources of FET lie in a rich conventional        framework, mainly bilateral and regional. Yet the high number of BITs does not        appear to offer a uniform model of FET clauses, quite theopposite; the book offers a        classification of the FET clauses found in more than 400 BITs. Having concluded that        the conventional framework is essential to FET, the book turns to the examination of        the possible customary character of FET and argues that the view equating FET with        the InternationalMinimum Standard is erroneous and it limits the scope of FET.          Alternatively, it suggests that the FET standard is an independent standard of        customary nature. Then the book looks at the nature of FET, that of being a standard        and retains three direct consequences for its meaning: its flexibility, the absence        of a fixed content and its evolutionary character. With these three characteristics        in mind, it proceeds to the third conceptual framework, the content of FET. Although        no fixed content maybe given to it, it identifies and develops each one of those        situations in which the FET standard has already been applied. Finally, the last        conceptual framework aims at discussing the final act of a FET claim, i.e. the        amount of compensation awarded. It argues that FETis a standard which balancesthe        interests and behaviours of both the States and the investors, at the stage of        compensation.

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