Compensation and Damages in International Law The Limits of "Fair Market Value"
Article from: TDM 6 (2007), in Compensation and Damages in International Investment Arbitration
Introduction
This article tries to identify the most important principles which should be observed in the process of calculation of compensation and damages in international legal proceedings. It concentrates on claims of individuals against foreign States before international courts or international arbitral tribunals, be it directly or by the home State in the exercise of diplomatic protection. The main causes of valuation in such proceedings are expropriations, violations of international obligations (State responsibility) and breaches of contract.