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International Law

Arbitration

2010

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Drawing The Right Lessons From Icsid Jurisprudence On The Doctrine Of Necessity, Amin George Forji Feb 2010

Drawing The Right Lessons From Icsid Jurisprudence On The Doctrine Of Necessity, Amin George Forji

Amin George Forji

Bilateral investment treaties (BITs) and the International Centre for the Settlement of Investment Disputes (ICSID) have over the years injected an important dynamic into public international law, that is, the replacement of a political remedy (peaceful cooperation amongst nations) by a legal one (settlement of investment disputes). The institution of ICSID and the revision of BITs in line with its rules have opened the way for direct investors’ claims and investor-state arbitration. The obvious implication of a compulsory arbitration provision is that it has made up for many shortcomings of the diplomatic protection mechanism with, “the potential for an individual …

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Contracting For State Intervention, W. Mark C. Weidemaier Dec 2009

Contracting For State Intervention, W. Mark C. Weidemaier

W. Mark C. Weidemaier

Most models of contracting behavior assume that contract terms are meant to be enforced, whether through legal or relational means. That assumption extends to dispute resolution terms like arbitration clauses. According to theory, contracting parties adopt arbitration clauses because they want to arbitrate disputes and because they believe that a counter-party who has agreed to arbitrate will keep that promise rather than incur the resulting legal or extra-legal sanction. In this article, I describe how this standard account cannot explain the origins of arbitration clauses in sovereign bond contracts. Drawing on original archival research and secondary sources, the article traces …

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