Investor Presentaiton

93 One of the advantages of arbitration has always been that arbitrators can be chosen with an eye to their suitability for deciding a particular case. Investment arbitrations frequently involve matters relating to the public interest such as the propriety of government regulations and involve the application of, inter alia, public international law. Thus, a few recent treaties have laid out general qualities that should guide the selection of arbitrators. For example, Article 9.25 of the Canada-Panama FTA (2010) provides: "2. Arbitrators shall have expertise or experience in public international law, international trade or international investment rules, or the resolution of disputes arising under international trade or international investment agreements. They shall be independent of, and not be affiliated with or take instructions from, either Party or the disputing investor." an Some treaties have laid down particular qualifications expertise in financial services law or practice for arbitrators deciding disputes relating to financial institutions. 82 3. Ethical standards of impartiality and independence Arbitrators, including party-appointed arbitrators, should be independent and impartial. These requirements apply regardless whether they are specifically mentioned in a treaty. In addition, certain rules apply regarding the nationality of the different arbitrators. A frequent requirement is that the presiding arbitrator not be a national of either party. Party-appointed arbitrators can sometimes hold the nationality of the party appointing them depending on the applicable arbitration rules, but must be independent and impartial. The requirement that arbitrators be independent means that they must not have a relationship with either of the disputing parties or 82 See, for example, Article 29(3) of the Canadian Model BIT (2004). UNCTAD Series on International Investment Agreements II

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