Investor Presentaiton
76
INVESTOR-STATE DISPUTE SETTLEMENT: A SEQUEL
Applicable Law
Review of
arbitral awards
suspend proceeding
on the merits.
A party may, no later
than 30 days after the
constitution of the
tribunal and before the
first session, file an
objection that a claim
is manifestly without
legal merit. The
tribunal shall "at its
first session or
promptly thereafter,
notify the parties of its
decision on the
objection".
In accordance with the
law agreed to by the
parties. In the absence
of such agreement, a
tribunal shall apply
the law of the
Contracting State
Party to the dispute
and such rules of
international law as
may be applicable.
Through the ICSID
annulment process
with very limited
grounds for the
annulment of the
award.
general, the arbitral
tribunal should rule on a
plea concerning its
jurisdiction as a
preliminary question or
in an award on the
merits (1976 and 2010
Rules).
As designated by the
parties or, if there is no
such agreement, as
determined by the
tribunal according to the
choice-of-law rules it
considers applicable
(1976 Rules) or the law
"it considers
appropriate" (2010
Rules).
Review by national
courts in the place of
arbitration against the
standards set forth in
domestic law (1976 and
2010 Rules).
UNCTAD Series on International Investment Agreements IIView entire presentation