Bilateral Investment Treaties and Arbitration: An Argument and a Proposal for the ICSID's Implementation of a System of Binding Precedent
Article from: TDM 3 (2008), in Precedent in Investment Arbitration
This paper proposes a solution to this complex problem by arguing that the International Centre for Settlement of Investment Disputes ("the Centre") should implement a system where arbitral awards are given precendential value and create a separate appellate tribunal that will reconcile inconsistent decisions by determining the correct interpretation of the substantive provisions of the BIT. This paper, first, will describe the doctrine of precedent as it is used in the United States judicial system. Then, in Part VI, this paper will discuss the four arguments against ...