On The Application Of Emergency Arbitrator System In International Investment Arbitration

Due to the cross reference of commercial arbitration rules and investment arbitration rules,the procedure of Emergency Arbitrator has gradually entered the field of international investment arbitration in recent years.Till June 2019 and in the field of international investment arbitration,there have been eight cases in whichthe procedure of Emergency Arbitrator has been applied.Considering the particularity of the sovereign state as a party in the international investment arbitration,the application of the Emergency Arbitrator may face all kinds of dilemmas,such as the objection of jurisdiction,the defense of state sovereignty,the cooling off period,the retroactivity of arbitration rules,the difficulty of state participation,the conflict of efficiency and ability,etc.On the one hand,from a long-term perspective,the Emergency Arbitrator procedure can make up for the shortcomings of the investment arbitral tribunal in dealing with urgent needs and matters and provide investors with more comprehensive protection.Therefore,its application in the field of international investment arbitration is necessary.On the other hand,bearing in mind the complexity of investment arbitration cases and the fact that one party is a sovereign state,it is necessary to add more considerations on due process and counterweighingstate sovereignty,and to make some adjustments to meet the special requirements of investment arbitration.