Research On Legal Issues Of Building The Appeal Mechanism In International Investment Arbitration

With the rapid development of international investment, disputes about international investment are also emerging, so international investment arbitration is playing an increasingly important role. In the current three most influential international investment arbitration mechanisms are ICSID, arbitrations under NFATA agreement and UNCITRAL arbitration. Meanwhile, some potential problems of international investment arbitration mechanism are also gradually revealed in practice, for example, the scope of the jurisdiction of the arbitral tribunal is too large, single arbitration supervising mechanisms, arbitration protects the interests of private investors and causes a series of serious consequences, such as triggering a crisis of confidence and legitimacy crisis in international investment arbitration. In this crisis, the appeal for establishment of international investment arbitration mechanism is increasing. OECD countries first formally discuss the establishment of international arbitration of investment during the MAI negotiations. ICSID Secretariat also announced the proposed draft of establishment of a mechanism in2004. The United States, Canada and Argentina, who are more frequently affected in arbitration, actively promote the establishment of an appeal mechanism to achieve the purpose of investment arbitration reform oversight mechanisms. And in later bilateral investment treaties and free trade agreements, they made plans about related issues. Construction of an appeal mechanism has significant legal value, and it is conducive to international investment arbitration fairness and justice, to promote human rights protection.Although the current international investment arbitration mechanism does not yet exist a formal appeal mechanism, but in international investment arbitrations "mother" International Commercial Arbitration, there exists similar mechanisms already in and runs well, it has great value for constructing appeal mechanism. Build an international investment arbitration appeal mechanism should focus on coordinating the contradictory relations with the finality of arbitration and the internal review mechanisms, and make a proper position of the legal nature of the appeal mechanism. The specific appeal mechanism should be set up on considering many aspects, such as the pattern of appeal, the composition of the appellate body, the appeal authority, the effectiveness of the program and appeal decisions and execution.