With TDM 4 (2004) we bring again a wealth of insight and comment on relevant and recent developments, with a particular focus this time on two issues:

First, there is an article by myself accompanied by a brief survey by my associate, Aminu Kabir of CEPMLP/Dundee on the role, challenges, utility and criteria for assessment of relevant international soft law (guidelines, codes, voluntary regulation rules, standards, authoritative resolutions) in managing transnational investment disputes.

This is an area lawyers traditionally have ignored, but it is now of practical relevance as argued in investment and commercial arbitration as relevant principles for giving specific shape to open-ended hard-law standards in treaties, contracts and legislation. It is also relevant in negotiating or mediating for settlement of transnational disputes as authoritative soft-law standards will be a benchmark - and in terms of bargaining theory a "magnetic point" for negotiated solutions. Mr Kabir's survey lists the close to 100 instruments of this type which we have considered, after a consultation exercise with practitioners, to be the most relevant instruments transnational dispute practitioners have to be familiar with, may need to examine in more detail and argue for (or against) their applicability in a particular litigation situation.

Second, we have a very extensive number of case comments written mostly by practitioners in the field of investment arbitration. The large number of such comments providing insight, interpretation (and a more user-friendly time-efficient way to follow these cases) indicates the growing participation of the international arbitration community in particular in the TDM intelligence service - the focus for an interactive, but centrally managed and technologically up to date network of practitioners in the global economy.

And finally, we would like to welcome Judge Stephen Schwebel, former President of International Court of Justice as the Principal Adviser of our Editorial Board.