niloofar saeedi; Pouria Askary
Abstract
Full Protection and Security clause, as a standard for protecting foreign investors, is included in almost every Bilateral Investment Treaty. In comparison with other protection clauses specially Fair and Equitable Treatment, this standard is less discussed in arbitral awards and legal writings, however, ...
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Full Protection and Security clause, as a standard for protecting foreign investors, is included in almost every Bilateral Investment Treaty. In comparison with other protection clauses specially Fair and Equitable Treatment, this standard is less discussed in arbitral awards and legal writings, however, it has a common feature with other protection standards which is vagueness and being subject of different interpretations and the fact that Bilateral Investment Treaties do not define Full Protection and Security either. As a result, arbitral tribunals feel free to interpret and determine the scope of the Full Protection and Security standard which can also result in divergence of opinions and different interpretations. Arbitral tribunals agree that this standard protects the physical integrity of investment but over time some Arbitral tribunals presented a wider interpretation of the concept and scope of Full Protection and Security making it also applicable to stability of legal and commercial environment and legal security of foreign investment. Arbitral tribunals’ different interpretations can be justified in light of their interpretation of the nature of host states obligations under Full Protection and Security clause.
Mohammad Reza Pasban; Zeinab Asghari
Volume 3, Issue 8 , April 2015, , Pages 43-70
Abstract
Like numerous developing countries, Iran strives to attract foreign investment in order to develop its economy. In recent years, Iran concluded many bilateral investment treaties (BIT) with a number of countries. The standard of fair and equitable treatment (FET) is one of the most significant ...
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Like numerous developing countries, Iran strives to attract foreign investment in order to develop its economy. In recent years, Iran concluded many bilateral investment treaties (BIT) with a number of countries. The standard of fair and equitable treatment (FET) is one of the most significant standards, which has frequently been considered in investment arbitration. By referring to this standard, foreign investors seek protection from the host-State in relation to legal stability and non-discrimination. The focus of the BITs and investment arbitration jurisprudence has mainly been on obligations of the host-State. There has been little discussion as to obligations of investors. This article examines the concept of corporate social responsibility (CSR), in transnational corporations, in the light of the FET. Although transnational corporation responsibility is substantially based on soft law and volunteer performance, a legal basis could be adopted by considering the FET. The existence of the FET in the vast majority of BITs requires transnational corporations to comply with a number of principles in the host-State, such as the right of development, labour, environment, competition and human rights laws.
