- Most-favoured-nation treatment (MFN) — International minimum standard — Taxation — Concession agreements — Calvo clause — Exhaustion of local remedies — UNCITRAL Arbitration Rules — BITs (Bilateral Investment Treaties)
Published under the auspices of the Max Planck Foundation for International Peace and the Rule of Law under the direction of Rüdiger Wolfrum.
1Concessions play an outstanding role in the vast field of State contracts between private individuals and States (Contracts between States and Foreign Private Law Persons). The term denotes a broad range of legal instruments under which a State grants certain economic rights and privileges to foreign investors within the framework of a public function. Even though global investment activities in the public/private sector are still growing considerably, a definite concept of what constitutes a concession has not yet emerged in international law (see Saudi Arabia v...