Introduction

In the last 15 years, a number of books, including one by the present author, and numerous articles have been published on the fair and equitable treatment ('FET') standard. The standard is found in the overwhelming majority of BITs and has become, in the last decades, one of the most controversial provisions examined by arbitral tribunals. According to a 2023 OECD paper, examining 2,670 treaties concluded by 99 jurisdictions, the FET clause is found in 95% of them. In a recent book, I have examined how tribunals have assessed FET clauses and their relationship with the Minimum ...