Introduction

Investment arbitration typically involves a variety of treaties. Most frequently it is based on bilateral investment treaties (BITs). Alternatively, multilateral regional treaties such as the North American Free Trade Agreement (NAFTA) or the Energy Charter Treaty (ECT) are the basis of consent to arbitration. In addition, multilateral treaties such as the Convention on the Settlement of Investment Disputes between States and the Nationals of Other States (ICSID Convention) are frequently interpreted and applied. Investment arbitration takes place before ad hoc ...