Principles of international investment law

PRINCIPLES OF INTERNATIONAL INVESTMENT LAW SECOND EDITION RUDOLF DOLZER AND CHRISTOPH SCHREUER... Oxford is a registered trade mark ol Oxford University Press in the UK and in certain ot

PRINCIPLES OF INTERNATIONAL INVESTMENT LAW

SECOND EDITION

RUDOLF DOLZER AND CHRISTOPH SCHREUER

P R I N C I P L E S O F I N T E R N A T I O N A L

I N V E S T M E N T L A W

Principles of International

Investment Law

Second Edition

R U D O L F D O L Z E R

and

C H R I S T O P H S C H R E U E R

OXFORD

U N IV E R S IT Y PRESS

U N IV E R S IT Y PR ESS

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© Rudolf Dolzer and Christoph Schreuer, 2012

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Summary o f Contents

F oreword to the Second Edition xiii

Table o f Treaties, Conventions, Resolutions, an d Rules xxix

List o f Abbreviations xxxv

I History, Sources, and Nature of International Investment Law 1

1 The history of international investment law 1

2 The sources of international investment law 12

3 The nature of international investment law 19

II Interpretation and Application of Investment Treaties 28

2 Application of investment treaties in time 36

III Investors and Investments 44

IV Investment Contracts 79

V Admission and Establishment 87

4 Non-compliance by investor with host state law and

VII Standards of Protection 130

VI Summary o f Contents

4 Access to justice, fair procedure, and denial of justice 178

5 Emergency, necessity, armed conflicts, and fo r ce m ajeure 182

VIII State Responsibility and Attribution 2 16

3 Party status for constituent subdivisions or agencies

IX Political Risk Insurance 228

X Settling Investment Disputes 232

Annexes ICSID Convention 313

The Energy Charter Treaty (excerpts) 329

North American Free Trade Agreement ( Chapter Eleven) 341

Chinese M odel BIT (2003) 338

German M odel Treaty (2008) 363

UK M odel BIT (2005) 370

US M odel BIT (2012) 377

Foreword to the S econd Edition xiii

Table o f Treaties, Conventions, Resolutions , and Rides xxix

List o f Abbreviations xxxv

I History, Sources, and Nature of International Investment Law 1

(c) Sectoral and regional treaties: the Energy Charter

(d) The host state’s perspective: attracting foreign investment 22

II Interpretation and Application of Investment Treaties 28

(b) Different inter-temporal rules for jurisdiction and substance 36

(c) The date relevant to determine jurisdiction 38

III Investors and Investments 44

(d) Article 25(2)(b) of the ICSID Convention: agreement

to treat a local company as a foreign national because of

V Admission and Establishment 87

4 Non-compliance by investor with host state law and

(b) Judicial and arbitral practice: some illustrative cases 104