Abstract

This paper addresses the issue of consent to investment arbitration by analyzing not only the recent conventional and arbitral practice, but also a new legal problem arising out of the denunciation of the ICSID Convention. As a result of the expansion of the BIT universe, the wording of these agreements has become more explicit, in particular, with regard to the provisions that establish the settlement of investor-State disputes and also in connection with an extensive application of the MFN clause towards the procedural provisions. Thus, in recent BITs consent to investment arbitration ...