Investor Presentaiton

32 INVESTOR-STATE DISPUTE SETTLEMENT: A SEQUEL 22 to the dispute, i.e. an investor. Investors typically express their consent to arbitration by filing a request for arbitration. When this happens, the consent is "perfected" and can no longer be revoked unilaterally. From the point of view of a State's consent, IIAs can be classified into several groups, examined below. (i) Explicit consent One approach is to give explicit consent to arbitration, as illustrated in the Kenya-Slovak Republic BIT (2011): "Article 10 Disputes between an Investor and a Contracting Party [...] 5. Each Contracting Party hereby gives its unconditional consent to the submission of a dispute between it and an investor of the other Contracting Party to arbitration in accordance with this Article." (Emphasis added). (ii) Implicit consent Some treaties do not contain an explicit reference to consent, yet the implication of consent is clear, as shown by this example from the Chile-Indonesia BIT (1999): "Article IX. Settlement of Disputes between a Contracting Party and an Investor of the other Contracting Party (1) With a view to an amicable solution of disputes, which arise within the terms of this Agreement, between a Contracting Party and an investor of the other Contracting 22 Paulsson, 1995, pp. 236-241, 255–257. UNCTAD Series on International Investment Agreements II

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