Introduction

The United States Congress has mandated establishment of an appellate body or similar mechanism as a negotiating objective for investment chapters of free trade agreements. An appellate mechanism for international investment obligations is an intensely complex undertaking, with many important parameters. In this paper, I address only four of these: the relationship between the appellate mechanism and national courts; enforcement of awards pending appeal; the composition of the appellate tribunal or mechanism; and the related questions of standard of appellate review and ...