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If international law is sufficient to decide the case, a tribunal does not have to decide on the relationship between international and national law within Article 42(1) ICSID Convention
Even if the investor has unambiguously waived his or her claims under a contract, this does not affect the right to invoke an IIT breach; the contractual waiver may, however, be relevant for the assessment of damages
Public international law and comparative domestic public law constitute the benchmark for the legitimacy of an investor's expectations
If an IIT does not apply to disputes that have arisen before its entry into force, it may nevertheless apply to breaches before that time
The full protection and security standard does not address all kinds of impairment, but only those which affect the physical integrity of the investment against the use of force
An investor has to be aware that modifications of taxation levels represent a risk for his or her investment; without a stabilization agreement, he or she cannot establish a legitimate expectation that a state will refrain from increasing taxes
Protection of Investors under IITs
Applicability of IITs
Ratione Temporis – Application in Time
If an IIT does not apply to disputes that have arisen before its entry into force, it may nevertheless apply to breaches before that time
Expropriation and Standards of Protection
Fair and Equitable Treatment
Case Groups
Legitimate Expectations
Public international law and comparative domestic public law constitute the benchmark for the legitimacy of an investor's expectations
An investor has to be aware that modifications of taxation levels represent a risk for his or her investment; without a stabilization agreement, he or she cannot establish a legitimate expectation that a state will refrain from increasing taxes
Full Protection and Security
Character and Scope
The full protection and security standard does not address all kinds of impairment, but only those which affect the physical integrity of the investment against the use of force
Waiver of Rights Under an IIT
Even if the investor has unambiguously waived his or her claims under a contract, this does not affect the right to invoke an IIT breach; the contractual waiver may, however, be relevant for the assessment of damages
Arbitration (Articles 36-55)
Article 42
Article 42(1)
Article 42(1)(2) - "absence of such agreement"
If international law is sufficient to decide the case, a tribunal does not have to decide on the relationship between international and national law within Article 42(1) ICSID Convention