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Whether a prima facie test is sufficient or whether the tribunal must examine the allegations in a broader perspective depends on the specific circumstances of each case
The obligations to perform additional activities, such as engineering, design and production, do not turn a commercial contract into an investment
- International Investment Treaties (IITs) > Protection of Investors under IITs > Applicability of IITs > Ratione Materiae – Definition of Investment > The Concept of "Investment" > Contracts
- ICSID Convention > Jurisdiction of the Centre (Articles 25-27) > Article 25 > Jurisdiction Ratione Materiae > Investment > Contracts as Investments
The definition of investment within Article 25 ICSID Convention is generally left to the consent of the parties; there is, however, an objective limit to this freedom
Investments imply contributions, a certain duration of performance of the contract, participation in the risk of transaction, and contribution to economic development (so called Salini Test)
A bank guarantee does not constitute an investment
For the sake of a stable legal order, a tribunal has to distinguish between investments and commercial contracts
- International Investment Treaties (IITs) > Protection of Investors under IITs > Applicability of IITs > Ratione Materiae – Definition of Investment > The Concept of "Investment" > Contracts
- ICSID Convention > Jurisdiction of the Centre (Articles 25-27) > Article 25 > Jurisdiction Ratione Materiae > Investment > Contracts as Investments
Distinction between violation of a contract and a treaty
Depending on the specific case, an umbrella clause does not necessarily have the effect of transforming all contract claims into treaty claims
A state's formal declaration constitutes a unilateral act, which gives rise to obligations on which third parties may rely
International Law Rules Applicable to IITs
Relationship of IITs to Other Sources of International Law
Further Problems
A state's formal declaration constitutes a unilateral act, which gives rise to obligations on which third parties may rely
Protection of Investors under IITs
Applicability of IITs
Ratione Materiae – Definition of Investment
The Concept of "Investment"
General Remarks
A bank guarantee does not constitute an investment
Contracts
The obligations to perform additional activities, such as engineering, design and production, do not turn a commercial contract into an investment
For the sake of a stable legal order, a tribunal has to distinguish between investments and commercial contracts
Expropriation and Standards of Protection
Umbrella Clause
General Remarks
Depending on the specific case, an umbrella clause does not necessarily have the effect of transforming all contract claims into treaty claims
Contract and Treaty Claims
Distinction of Contract and Treaty Claims
Distinction between violation of a contract and a treaty
Admissibility
Prima Facie Case
Whether a prima facie test is sufficient or whether the tribunal must examine the allegations in a broader perspective depends on the specific circumstances of each case
Jurisdiction of the Centre (Articles 25-27)
Article 25
Jurisdiction Ratione Materiae
Investment
The Parties’ Consent and “Investment” / Two-Part Test of Investment
The definition of investment within Article 25 ICSID Convention is generally left to the consent of the parties; there is, however, an objective limit to this freedom
Contracts as Investments
The obligations to perform additional activities, such as engineering, design and production, do not turn a commercial contract into an investment
For the sake of a stable legal order, a tribunal has to distinguish between investments and commercial contracts
"Salini" Criteria
Investments imply contributions, a certain duration of performance of the contract, participation in the risk of transaction, and contribution to economic development (so called Salini Test)