Executive summary

The delegation by states through international investment agreements (IIA) of adjudicatory competences to arbitral tribunals without clear substantive or to some extent, procedural rules as well as lack of appeal mechanism raised significant controversies when those mechanisms began to be used by foreign investors in the late 90s of the 20th century. This article presents investment arbitration provisions of United States-Mexico-Canada Agreement (USMCA) in the broader context of the ongoing process of transformation in international investment law. Two main elements are highlighted. The ...