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IITs must be interpreted using the rules of interpretation laid down in the VCLT
- International Investment Treaties (IITs) > International Law Rules Applicable to IITs > Law of Treaties > Rules of Interpretation > Interpretation Rules of the Vienna Convention on the Law of Treaties (VCLT) as Reflecting Customary International Law
- Vienna Convention on the Law of Treaties > Article 31 - General rule of interpretation > Further Problems > Articles 31 et seq. Reflect Customary International Law
A tribunal should not adopt a dynamic approach to treaty interpretation not covered by the VCLT, at least if the VCLT is directly applicable and if the parties did not intend an evolutionary adaptation
- International Investment Treaties (IITs) > International Law Rules Applicable to IITs > Law of Treaties > Rules of Interpretation > Special Rules of Interpretation
- Vienna Convention on the Law of Treaties > Article 31 - General rule of interpretation > Further Problems > Special Rules of Interpretation
Within the meaning of Article 31 (3) (c) VCLT, "applicable in the relations between the parties" refers to such rules that condition the performance of the specific rights and obligations stipulated in the treaty
- International Investment Treaties (IITs) > International Law Rules Applicable to IITs > Law of Treaties > Rules of Interpretation > Interpretation Rules of the Vienna Convention on the Law of Treaties (VCLT) as Reflecting Customary International Law
- Vienna Convention on the Law of Treaties > Article 31 - General rule of interpretation > Context > Article 31(3) a-c
A tribunal has a duty to determine its jurisdiction sua sponte
A "fundamental change of circumstances" is of no relevance to treaty interpretation according to the VCLT
- International Investment Treaties (IITs) > International Law Rules Applicable to IITs > Law of Treaties > Rules of Interpretation > Further Problems
- Vienna Convention on the Law of Treaties > Article 31 - General rule of interpretation > General Remarks
If an IIT only confers jurisdiction on the tribunal for disputes concerning matters "consequential upon an act of expropriation", the tribunal does not have jurisdiction over the question of whether an expropriation occurred and was legal
An MFN clause in conjunction with another IIT can confer jurisdiction on a tribunal
The fact that an objection can be waived demonstrates that one is not dealing with a jurisdictional issue
Decisions of other tribunals are not sources of law and are not legally binding upon another tribunal
A state's consent to arbitration is expressed in the IIT
If an IIT only confers jurisdiction on the tribunal for disputes concerning the amount or payment of compensation for expropriation, the tribunal does not have jurisdiction over the question of whether an expropriation occurred and was legal
The requirement of exhaustion of local remedies as a principle of customary international law is waived by the consent to investor-state arbitration
- International Minimum Standard / The Law of Aliens
- International Investment Treaties (IITs) > International Law Rules Applicable to IITs > Relationship of IITs to Other Sources of International Law > Relationship of an IIT to Customary International Law
- International Investment Treaties (IITs) > Protection of Investors under IITs > Dispute Settlement Clauses > Exhaustion of Local Remedies Clauses
The right to prompt review of an expropriatory act under domestic law does not establish a duty for the investor to exhaust local remedies
- International Investment Treaties (IITs) > Protection of Investors under IITs > Expropriation and Standards of Protection > Expropriation > Legality of an Expropriation
- International Investment Treaties (IITs) > Protection of Investors under IITs > Dispute Settlement Clauses > Exhaustion of Local Remedies Clauses
The requirement of exhaustion of local remedies as a principle of customary international law is waived by the consent to investor-state arbitration
International Law Rules Applicable to IITs
Relationship of IITs to Other Sources of International Law
System of Precedents
Decisions of other tribunals are not sources of law and are not legally binding upon another tribunal
Relationship of an IIT to Customary International Law
The requirement of exhaustion of local remedies as a principle of customary international law is waived by the consent to investor-state arbitration
Law of Treaties
Rules of Interpretation
Interpretation Rules of the Vienna Convention on the Law of Treaties (VCLT) as Reflecting Customary International Law
IITs must be interpreted using the rules of interpretation laid down in the VCLT
Within the meaning of Article 31 (3) (c) VCLT, "applicable in the relations between the parties" refers to such rules that condition the performance of the specific rights and obligations stipulated in the treaty
Special Rules of Interpretation
A tribunal should not adopt a dynamic approach to treaty interpretation not covered by the VCLT, at least if the VCLT is directly applicable and if the parties did not intend an evolutionary adaptation
Further Problems
A "fundamental change of circumstances" is of no relevance to treaty interpretation according to the VCLT
Protection of Investors under IITs
Expropriation and Standards of Protection
Expropriation
Legality of an Expropriation
The right to prompt review of an expropriatory act under domestic law does not establish a duty for the investor to exhaust local remedies
Most-Favoured-Nation Treatment (MFN)
Application to dispute settlement clauses
An MFN clause in conjunction with another IIT can confer jurisdiction on a tribunal
Dispute Settlement Clauses
Exhaustion of Local Remedies Clauses
The requirement of exhaustion of local remedies as a principle of customary international law is waived by the consent to investor-state arbitration
The right to prompt review of an expropriatory act under domestic law does not establish a duty for the investor to exhaust local remedies
Distinction Between Jurisdiction and Admissibility
The fact that an objection can be waived demonstrates that one is not dealing with a jurisdictional issue
Jurisdiction
Consent by the Parties
A state's consent to arbitration is expressed in the IIT
The Tribunal's Rights and Duties
A tribunal has a duty to determine its jurisdiction sua sponte
Interpreting Provisions Concerning Jurisdiction
If an IIT only confers jurisdiction on the tribunal for disputes concerning matters "consequential upon an act of expropriation", the tribunal does not have jurisdiction over the question of whether an expropriation occurred and was legal
If an IIT only confers jurisdiction on the tribunal for disputes concerning the amount or payment of compensation for expropriation, the tribunal does not have jurisdiction over the question of whether an expropriation occurred and was legal
Article 31 - General rule of interpretation
General Remarks
A "fundamental change of circumstances" is of no relevance to treaty interpretation according to the VCLT
Context
Article 31(3) a-c
Within the meaning of Article 31 (3) (c) VCLT, "applicable in the relations between the parties" refers to such rules that condition the performance of the specific rights and obligations stipulated in the treaty
Further Problems
Articles 31 et seq. Reflect Customary International Law
IITs must be interpreted using the rules of interpretation laid down in the VCLT
Special Rules of Interpretation
A tribunal should not adopt a dynamic approach to treaty interpretation not covered by the VCLT, at least if the VCLT is directly applicable and if the parties did not intend an evolutionary adaptation