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Part I Overview, 2 The Basic Features of Investment Treaties

From: International Investment Arbitration: Substantive Principles (2nd Edition)

Campbell McLachlan, Laurence Shore, Matthew Weiniger

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 25 March 2023

ECT (Energy Charter Treaty) — NAFTA (North American Free Trade Agreement) — BITs (Bilateral Investment Treaties) — Treaties, interpretation

Chapter 2 introduces the reader to the basic features of investment treaties, with particular emphasis on two types of treaties under which investment arbitrations have arisen: bilateral investment treaties (BITs) and multilateral investment treaties. It first discusses the structure of BITs, focusing on provisions in such areas as substantive rights, compensation for losses (war clause), free transfer of payments, dispute settlement, and subrogation. It then examines the common provisions of four major multilateral investment treaties, namely: NAFTA; the Energy Charter Treaty; the ASEAN Comprehensive Investment Agreement and the newly-concluded Trans-Pacific Partnership Agreement (not yet in force).

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