Investor Presentaiton

176 INVESTOR-STATE DISPUTE SETTLEMENT: A SEQUEL Forums for ISDS cases its purpose. A six-month period is common in IIAS and appears realistic, while a three-month period might be too short. This reflects the possibility of an inherent slowness in internal communication channels and decision-making processes within the host government. It is also in the investor's interest to ensure that there is no way to resolve the dispute other than by submitting it to a lengthy and expensive arbitration. Specifics regarding negotiation. States may wish to promote consultations and negotiations as a way to settle disputes, thus reinforcing the function of arbitration as a measure of last resort. If considered useful, the treaty may set out some further details of the consultation procedure, including the timing of and the location for holding consultations and the relevant authority or agency within the State that is authorized to conduct such amicable discussions. Settlement of disputes under international arbitration can come with a large menu of possible forums and rules, or with only one or two possibilities. ICSID was established specifically to deal with investor-State disputes; it is a self-contained system with no role for national courts and quasi- automatic enforcement of arbitral awards in all ICSID Convention Contracting States. Arbitration in other forums, such as under the UNCITRAL Arbitration Rules or commercial arbitration forums, allows for more involvement UNCTAD Series on International Investment Agreements II

View entire presentation