Introduction

Canada has released a new model Foreign Investment Protection Agreement (FIPA)-the Canadian equivalent of a bilateral investment treaty (BIT). The new model FIPA builds on the investment chapter in the North American Free Trade Agreement (NAFTA) and Canada's "growing experience" with investment arbitrations under NAFTA. Canada's stated objectives in redrafting its model FIPA were to clarify substantive investment obligations and to maximize transparency and efficiency in the dispute settlement process. This article briefly reviews and comments on the innovations in the new ...