As of 2011, 90% of the NTBs, as well as the UNCITRAL and ICSID arbitration rules, do not contain any restrictions or provisions on the remedies that the courts can give them. However, most treaties and arbitration rules stipulate that arbitral awards are final and binding (Pohl et al. 2012, pp. 32-36). Since many ILO do not contain rules for fundamental treatment issues, the choice of isds framework may be particularly relevant for the parties to the dispute. Recently concluded contracts show a trend towards broader sections of ISDS, developed with a higher degree of detail. ISDS issues dealt with in NTBs are very unevenly distributed, even within a country`s treaties, and issues are not addressed consistently. This difference in the coverage of ISDS categories in a country`s contractualization is reflected in the high heterogeneity between countries. Instead, multilateral treaties such as NAFTA influence the contractual practices of their member states with respect to more detailed ISDS provisions. In general, most free trade agreements contain broader sections of ISDS than BITs (Pohl et al.

2012, pp. 39-42). Chapter 2 provides a historical overview of the practice of investment contracts, the roots of the current system and the development of private arbitration tribunals. The main ISDS institutions and their rules will be put in place. There are several arbitration organizations that can be used by investors and states to settle their disputes. A 1660-bit sampling survey showed that 93.5% of them provide ISDS through international arbitration. Most of the time, this procedure is offered in addition to the possibility of a national procedure (Pohl et al. 2012, p.

11). The organizations most frequently cited by the IIA, which contain ISDS clauses, are ICSIDs and ad hoc tribunals established under UNCITRAL rules. The third is the International Chamber of Commerce (ICC). While Sweden never includes the Stockholm Chamber of Commerce in its contracts as an arbitration institution, it is the most frequently cited regional arbitration organization, while other local arbitral institutions play only a minor role in the IIA. In 2011, 90% of THE PTOs that mention ISDS mentioned ICSID and about 60% of ad hoc tribunals according to UNCSD rules. About 8% of bilateral agreements provide for the establishment of individual arbitration tribunals defined by the IIA. From the 1960s to the late 80s, BITs increased in number and substance. In 1990, after the first arbitral award in a case before an arbitral tribunal, an increasing number of investors somehow discovered the ISDS mechanism and the number of new cases increased rapidly in the 2000s. UNCITRAL was established in 1966 by the United Nations to promote the harmonization and modernization of international trade law to facilitate trade between countries with different legal traditions and at different stages of economic development (UNCITRAL 2013, p. 1).

The UNCITRAL Arbitration Rules were adopted in 1976, revised in 2010 and supplemented in 2013 by transparency rules to make arbitration procedures publicly available. . . .

Share