Research On The Independent Appeal Mechanism Of International Investment Arbitration

With the gradual deepening of economic globalization and the increasing international investment,international investment disputes have also increased year by year.Among them,the investment dispute between investors and countries has become the most complicated and most disputed among many disputes due to the particularity of their subjects.Arbitration has become more and more popular because of its own characteristics.The number of international investment arbitration cases has gradually increased,but there have also been a series of problems such as inconsistent arbitral awards and lack of transparency,which has led people to begin to generate the suspicion of legality and rationality in international investment arbitration.In view of the fact that countries will have different attitudes towards international investment and different thoughts based on their own interests,it is unlikely that a unified international investment dispute document will be formulated.It is also unlikely that a unified international investment dispute resolution institution will be established.Therefore,increasing or improving the ruling review or correction mechanism has become an important direction for ISDS reform.The UNCITRAL work report proposes some possible reforms,and the establishment of an independent appeal mechanism is one of them.Starting from the mode selection of the independent appeal mechanism,this paper clarifies that the independent appeal mechanism can be more protective than other appeal models in consistency of the ruling by analyzing the models of establishing an appeal mechanism in the investment agreement,reforming the WTO appeal mechanism,and establishing an appeal mechanism within the arbitration institution.Then,with the consideration of the limitation of the arbitral tribunal to apply and interpret the law,strengthening the constrained and guiding role of the precedent,and preventing the inconsistency of the new ruling,the author elaborates the positive effectiveness of the independent appeal mechanism in resolving the inconsistency of the ruling.Meanwhile,the author analyzes the negative factors that may hinder the implementation of the independent appeal mechanism from the perspective of the conflict with the principle of a final ruling,the relationship between the ISCID Convention and the New York Convention,and the possibility of reality.Combining the above positive effects and negative factors is used to analyze the feasibility of the independent appeal mechanism.Through the introduction and research on the provisions of the appeal mechanism in the International Arbitration Chamber of Paris,the WTO and the EU bilateral agreement,the construction of the independent appeal mechanism is elaborated in terms of personnel composition,grounds of appeal,appeal results and recognition and enforcement of the awards.