Introduction

In 2007, the Tribunal in PSEG v. Turkey highlighted that the standard of fair and equitable treatment (FET) had become the prominent standard invoked before investment arbitral tribunals. Ever since, the pace of this movement of FET to the centre of the investment dispute agenda has remained steady and has intensified. An empirical study to quantify the percentage volume of FET arguments in the pleadings before the International Centre for the Settlement of Investment Disputes (ICSID) tribunals would certainly point to a role of FET discourse that would not have been anticipated a decade ...