Summary

This article examines the specific risk involved in an investment from the point of view of the ICSID Convention. The analysis begins with the meaning of the notion of 'investment' under the ICSID Convention and then determines whether an investment triggers specific risk that differentiates it from an international commercial transaction. This assessment is made in order to determine whether the specific risk of investment is one of the features that qualify the transaction between the parties as investment, which should be considered by the ICSID tribunals when dealing with ...