New Developments Of Fair And Equitable Treatment Standard In International Investment Agreements

The concept of"fair and equitable treatment"now occupies a position of prominence in International Investment Agreements (IIAs). However, there are always academic differences as to the precise meaning of the term"fair and equitable treatment". Moreover, after NAFTA became effective, and particularly when many disputes were raised for arbitration according to NAFTA Chapter 11, fair and equitable treatment standard has become one of the most conflicting parts in IIAs. Learning lessons from relevant cases in the arbitral practice, U.S. and Canada has greatly changed the provisions as to fair and equitable treatment standard in their new Modal BIT and FIPA respectively. In the interest of China, it is necessary to study on fair and equitable treatment standard.This dissertation consists of 4 chapters in addition to Preface and Conclusion. Chapter 1 reviews the genesis of fair and equitable treatment standard, that is, the origins of the standard and its current use in IIAs. Then the chapter analyses the academic differences on the meaning of the standard, and the role of the standard in IIAs.Chapter 2 deals with the use of fair and equitable treatment standard in arbitral practice, including its use in both NAFTA Chapter 11 arbitration and BITs arbitration. After analyzing several typical cases, the chapter sums up the issues in application of fair and equitable treatment standard.Chapter 3 analyses the recent developments of fair and equitable treatment standard. U.S. and Canada have learned lessons from their practice in NAFTA, and made great changes of the provisions as to fair and equitable treatment standard in their new Model BIT and FIPA respectively. The chapter focuses on the underlying reasons for the developments of fair and equitable treatment standard, and then sums up the characteristics of those new provisions. Lastly, the chapter probes into the potential problems of the new provisions as to the standard.Chapter 4 gives an overview of the provisions as to fair and equitable treatment standard in China's IIAs. Then the chapter analyses the defects of those provisions and the risks China may be confronted with. Lastly, the chapter sums up revelations to China, which are drawn from the use of the standard in arbitral practice and the new...