Investor Presentaiton

171 related proceedings, transparency of the arbitral process and other issues. They aim to clarify and delineate the scope of the ISDS provisions as well as optimize the arbitral procedure in the interests of a prompt, predictable, legitimate and cost-effective process. These different approaches can almost be patterned on a divide between those States that frequently have appeared as respondents before ISDS tribunals and those that have not. Some States, notably the United States and Canada, have extensive experience as both home and host States. The complexity of their treaties reflects those dual perspectives - the "offensive" and the "defensive" interests. The choice between a detailed ISDS regulation and a minimalist one is a key policy decision. A minimalist ISDS clause will be fully operational, but will leave decisions regarding potentially important matters of the arbitration up to the applicable arbitration rules and arbitrators. The "detailed" approach allows States to exercise more control over procedural and other aspects of arbitration. It does not necessarily imply a full-fledged ISDS chapter spanning many pages. Instead, the contracting parties may choose to address only those issues that they consider important. In other words, under the "detailed" approach, there can be variations as to the level of detail in ISDS regulation. It is important to ensure that the ISDS provisions work together to create a coherent, consistent, and functional arbitral process. 2. Policy options on specific ISDS issues On the basis of the discussion in section II, this section identifies policy options for IIAS with respect to specific ISDS issues. Some of these elements are indispensable to the crafting of an operational ISDS provision (consent to arbitration, scope of the ISDS clause, available arbitration forums). Other issues are complementary and will depend on the specific policies and concerns of the States negotiating the IIA. Most of the options UNCTAD Series on International Investment Agreements II

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