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Oxford Law Citator
Contents
Expand All
Collapse All
Preliminary Material
Series Editor’s Preface
Preface
Summary of Contents
Contents
Table of Cases
Table of Treaties, Statutes and Regulatory Materials
International
Domestic legislation
Albania
Algeria
Argentina
Armenia
Australia
Belgium
Bulgaria
Canada
Cuba
Estonia
France
Germany
India
Kyrgyzstan
Lithuania
Mexico
Namibia
Paraguay
South Africa
Sweden
Switzerland
Tanzania
Ukraine
United Kingdom
United States
Bibliography
Bibliography
Main Text
Introduction
Part I Assessment and Pre-Investment Management of Political Risk
1 Political Risk
Preliminary Material
1.01
A Risk and Investment
1.02
1.03
1.04
1.05
1.06
1.07
B Political Risk and Property Rights
1.08
1.09
1.10
1.11
C Types of Political Risk
1.12
1 Expropriation, nationalization, and confiscation
1.13
1.14
1.15
1.16
1.17
1.18
1.19
1.20
1.21
1.22
1.23
1.24
2 Regulatory interference
1.25
1.26
1.27
1.28
1.29
1.30
1.31
1.32
1.33
1.34
1.35
1.36
3 Currency risk
1.37
1.38
1.39
1.40
1.41
1.42
4 Civil disturbance
1.43
1.44
1.45
1.46
5 Breach of State contracts
1.47
1.48
1.49
1.50
1.51
6 Corruption
1.52
1.53
1.54
7 Trade restrictions
1.55
1.56
1.57
1.58
1.59
1.60
D Measuring Political Risk
1.61
1.62
1.63
1.64
1.65
1.66
1.67
1.68
1.69
1.70
1.71
1.72
1.73
2 Structuring Transactions to Minimize Political Risk
Preliminary Material
2.01
A Project Types
2.02
1 Petroleum arrangements
2.03
2.04
a Concession agreement
2.05
b Production sharing agreement
2.06
c Participation agreement
2.07
d Service contract
2.08
2 Infrastructure projects
2.09
2.10
2.11
2.12
2.13
2.14
2.15
3 Other arrangements between investors and States
2.16
B Transaction Structures
1 Structures prior to investing
2.17
2.18
2.19
2.20
2.21
2.22
2.23
2 Modification of structures when interference is threatened
2.24
2.25
2.26
2.27
2.28
C Investor–State Contracts in General
2.29
2.30
2.31
2.32
2.33
2.34
D Core State Contract Clauses Affecting Political Risk
1 Arbitration clause
2.35
2.36
2.37
2 Choice-of-law clause
2.38
2.39
2.40
2.41
2.42
2.43
2.44
2.45
2.46
2.47
2.48
2.49
2.50
2.51
2.52
3 Stabilization clause
a Types of stabilization clauses
2.53
2.54
2.55
2.56
b Examples of stabilization clauses
2.57
2.58
2.59
2.60
2.61
2.62
2.63
2.64
c Validity of stabilization clauses
2.65
2.66
2.67
2.68
2.69
2.70
2.71
2.72
2.73
2.74
2.75
4 Force majeure clause
2.76
2.77
2.78
2.79
E Clauses for Guidance of Courts and Tribunals
1 Damages clause
2.80
2.81
2.82
2.83
2.84
2.85
2 Interest rate clause
2.86
2.87
3 Local remedies clause
2.88
2.89
2.90
2.91
2.92
4 Waiver of sovereign immunity
2.93
2.94
2.95
2.96
2.97
2.98
2.99
F Other Useful Contractual Provisions
1 Conversion of currency clause
2.100
2.101
2 Payment of currency to offshore account (service and technical assistance contracts)
2.102
3 Binding the State as a party to the contract
2.103
2.104
2.105
2.106
3 Investment Insurance
Preliminary Material
3.01
3.02
A OPIC
1 Background
3.03
3.04
3.05
3.06
3.07
3.08
3.09
2 Risks covered by OPIC insurance
3.10
3.11
3.12
a Currency inconvertibility
3.13
3.14
3.15
3.16
b Expropriation
3.17
3.18
3.19
3.20
3.21
3.22
3.23
3.24
3.25
c Political violence
3.26
3.27
3.28
3.29
3.30
d Stand-alone terrorism insurance
3.31
e Arbitration award default coverage
3.32
3.33
3.34
f Specialized insurance
3.35
3.36
3.37
3.38
3.39
3.40
3.41
3.42
g Contractors and exporters
3.43
3 Eligibility for OPIC insurance
3.44
a Eligible investors
3.45
3.46
b Eligible projects
3.47
3.48
3.49
c Eligible countries
3.50
3.51
d Political considerations
3.52
3.53
3.54
3.55
4 Terms
a Duration
3.56
b Cost
3.57
3.58
3.59
3.60
c Insurance limits
3.61
d Coverage multiples and amount of insurance
3.62
e Application
3.63
3.64
3.65
B Other National Insurance Programs
3.66
3.67
1 Japan: NEXI
3.68
3.69
3.70
a Overseas investment insurance
3.71
3.72
3.73
b Export credit insurance
3.74
c Overseas loan insurance
3.75
3.76
3.77
d Export bill insurance
3.78
3.79
3.80
e Prepayment import insurance
3.81
f Other insurance products
3.82
3.83
3.84
2 Germany: Deutsche Revision
3.85
3.86
3.87
3.88
3.89
3.90
3.91
3 Australia: Export Finance and Insurance Corporation
3.92
3.93
3.94
4 Other countries
3.95
3.96
3.97
3.98
3.99
C MIGA
1 Background
3.100
3.101
3.102
3.103
3.104
3.105
2 Risks covered by MIGA insurance
3.106
a Currency inconvertibility
3.107
3.108
b Expropriation
3.109
3.110
3.111
c Political violence
3.112
3.113
3.114
d Breach of contract
3.115
e Other coverage
3.116
3 Eligibility for MIGA insurance
a Eligible investors
3.117
b Eligible projects
3.118
3.119
3.120
3.121
c Eligible countries
3.122
3.123
d Political considerations
3.124
4 Terms
a Amount of insurance
3.125
3.126
3.127
b Cost
3.128
3.129
c Duration
3.130
3.131
d Co-insurance
3.132
e Disputes
3.133
3.134
f Applying for MIGA insurance
3.135
3.136
D Private Insurance
1 Background
3.137
3.138
3.139
2 Risks covered by private insurance
3.140
3.141
3.142
3.143
3 Terms
3.144
3.145
3.146
E General Considerations
3.147
3.148
3.149
Part II The International Law Framework of Investment Protection and Political Risk
4 State Responsibility and Remedies Under Customary International Law
Preliminary Material
4.01
4.02
4.03
4.04
4.05
4.06
4.07
4.08
A International Law in General
4.09
4.10
4.11
4.12
B Can a Sovereign Restrict Its Future Actions?
1 In general
4.13
4.14
4.15
4.16
4.17
2 State promises in investor–State contracts
a Internationalization of investor–State contracts
4.18
4.19
4.20
4.21
4.22
b Arguments that investor–State contracts cannot be internationalized
4.23
4.24
4.25
4.26
4.27
4.28
C State Responsibility
1 In general
4.29
4.30
4.31
4.32
2 Acts of State agencies
4.33
4.34
4.35
4.36
4.37
4.38
4.39
4.40
3 For injury to investors
4.41
4.42
4.43
4.44
D Remedies under International Law for State Actions against Investors
1 Remedies available to the State
4.45
4.46
4.47
4.48
2 Remedies available to the investor
4.49
4.50
4.51
4.52
4.53
4.54
4.55
4.56
E Exhaustion of Local Remedies
4.57
4.58
4.59
4.60
4.61
4.62
4.63
4.64
F Nationality of Claims
4.65
4.66
1 Individuals
4.67
4.68
4.69
4.70
4.71
4.72
4.73
4.74
4.75
2 Corporations
4.76
4.77
4.78
4.79
4.80
4.81
3 Partnerships
4.82
4.83
4.84
4.85
G Immunity of States from Jurisdiction
1 The doctrine of restrictive sovereign immunity
4.86
4.87
4.88
4.89
4.90
4.91
4.92
4.93
4.94
2 Sovereign immunity in the United States: the Foreign Sovereign Immunities Act
4.95
4.96
4.97
4.98
a The waiver of immunity exception
4.99
4.100
b The commercial activity exception
4.101
4.102
4.103
4.104
c The expropriation exception
4.105
4.106
4.107
4.108
3 The act of State doctrine
4.109
4.110
4.111
4.112
4.113
4.114
4.115
4.116
4.117
4.118
4.119
4.120
4 Sovereign immunity in the United Kingdom
a The State Immunity Act
4.121
4.122
4.123
b Doctrine of judicial restraint and abstention
4.124
4.125
5 History and Development of the Customary International Law of Expropriation and Investment Protection
Preliminary Material
5.01
5.02
5.03
5.04
5.05
5.06
A History and Sources of the Law of Expropriation
1 Expropriation and standards of compensation prior to World War II
5.07
5.08
5.09
5.10
5.11
5.12
5.13
5.14
5.15
5.16
2 Challenges to the traditional standard
a Latin American States
5.17
5.18
5.19
5.20
5.21
b Nationalization in the twentieth century
5.22
5.23
5.24
5.25
5.26
c Justifications for expropriation and the U.N. resolutions on permanent sovereignty
5.27
5.28
5.29
5.30
5.31
5.32
5.33
5.34
5.35
5.36
5.37
5.38
5.39
3 Arbitral awards after World War II
5.40
5.41
5.42
5.43
5.44
5.45
5.46
5.47
5.48
5.49
5.50
5.51
5.52
5.53
4 Treaties as evidence of customary international law
5.54
5.55
5.56
5.57
5.58
5.59
5.60
5 Negotiated settlements
5.61
5.62
5.63
5.64
5.65
5.66
B Current State of the Law of Expropriation
5.67
5.68
5.69
5.70
5.71
5.72
5.73
1 Public purpose and non-discrimination
5.74
5.75
5.76
2 Compensation
a Full compensation as standard under international law
5.77
5.78
5.79
5.80
5.81
5.82
5.83
5.84
b Justifications for the full compensation standard
5.85
5.86
c Compensation for illegal and legal expropriation
5.87
5.88
5.89
5.90
5.91
5.92
d Valuation
5.93
3 Indirect and creeping expropriation
5.94
5.95
5.96
5.97
5.98
5.99
5.100
4 Other investment-related norms: national treatment and the international minimum standard
a National treatment
5.101
5.102
5.103
b The international minimum standard of treatment
5.104
5.105
5.106
5.107
5.108
C Breach of Contract and Expropriation
5.109
5.110
6 The Substantive Law of Contemporary International Investment Protection
Preliminary Material
A Introduction
6.01
6.02
6.03
B Investment Protection Treaties
1 Bilateral investment treaties
6.04
6.05
6.06
2 The North American Free Trade Agreement
6.07
6.08
6.09
6.10
6.11
3 The Energy Charter Treaty
6.12
6.13
6.14
6.15
4 Other regional investment treaties
a The Lomé Conventions and the Cotonou Agreements
6.16
6.17
b Mercosur
6.18
6.19
6.20
c The ASEAN Investment Agreement
6.21
6.22
6.23
d The Trans-Pacific Partnership Agreement
6.24
6.25
6.26
6.27
C The Substantive Protections of Investment Protection Instruments
1 No expropriation without compensation
a The standard
6.28
6.29
6.30
6.31
6.32
6.33
6.34
b Applicable provisions
i “Standard” text
6.35
ii What constitutes expropriation
6.36
6.37
6.38
6.39
6.40
iii Compensation
6.41
6.42
6.43
c Application
i Direct expropriation
6.44
6.45
6.46
6.47
ii Indirect expropriation: the dominant view
6.48
6.49
6.50
6.51
6.52
6.53
6.54
6.55
6.56
6.57
6.58
6.59
iii Indirect expropriation: the minority view
6.60
6.61
6.62
6.63
iv Indirect expropriation and the permanence requirement
6.64
6.65
6.66
6.67
6.68
2 Fair and equitable treatment
a The standard
6.69
6.70
b Applicable provisions
6.71
6.72
6.73
6.74
6.75
6.76
c Application
i The dominant view
6.77
6.78
6.79
6.80
6.81
6.82
6.83
6.84
ii The minority view
6.85
6.86
3 Full protection and security
a The standard
6.87
6.88
6.89
6.90
6.91
b Applicable provisions
6.92
6.93
6.94
6.95
6.96
6.97
6.98
c Application
6.99
6.100
6.101
6.102
6.103
6.104
6.105
6.106
6.107
4 Prohibition against discrimination
a The standard
6.108
6.109
6.110
b Applicable provisions
6.111
i National treatment
6.112
6.113
6.114
6.115
6.116
6.117
ii Most-favored nation treatment
6.118
6.119
6.120
6.121
iii Arbitrary and discriminatory measures
6.122
6.123
c Application
i National treatment
6.124
6.125
6.126
6.127
6.128
6.129
ii Most-favored nation treatment
6.130
6.131
6.132
6.133
6.134
6.135
iii Prohibition on arbitrary and discriminatory measures
6.136
6.137
5 Pacta sunt servanda and the “umbrella” clause
a The standard
6.138
6.139
b Applicable provisions
6.140
6.141
6.142
6.143
6.144
6.145
c The effect of an umbrella clause
6.146
i The dominant view
6.147
6.148
6.149
6.150
6.151
6.152
6.153
6.154
6.155
6.156
ii The restrictive view
6.157
6.158
6.159
6.160
6.161
6.162
6.163
6.164
6.165
6.166
6 Repatriation of investment-related funds
6.167
6.168
6.169
6.170
6.171
6.172
6.173
6.174
D Combination of Substantive Violations
6.175
6.176
E Compensation for Breach
6.177
6.178
6.179
6.180
6.181
1 Discounted cash flow
6.182
6.183
6.184
6.185
6.186
2 Net book value
6.187
3 Comparable transactions
6.188
4 Arbitral decisions
6.189
a Tangible property
6.190
6.191
b Business enterprises—going concern
6.192
6.193
6.194
6.195
6.196
6.197
6.198
6.199
6.200
6.201
6.202
6.203
c Business enterprises—not a going concern
6.204
6.205
6.206
d Comparing the menu of options: CME v. Czech Republic
6.207
6.208
6.209
6.210
6.211
6.212
e Equitable considerations
6.213
6.214
6.215
6.216
6.217
F Conclusion
6.218
6.219
Part III Investment Disputes and Political Risk
7 Establishing Arbitral Jurisdiction
Preliminary Material
A Introduction
7.01
7.02
7.03
7.04
B Contractual Arbitration
1 The validity and effect of an arbitration clause
7.05
7.06
7.07
7.08
7.09
7.10
2 Binding the sovereign—who must sign?
7.11
7.12
7.13
7.14
7.15
7.16
7.17
7.18
7.19
7.20
7.21
7.22
3 ICSID arbitration clauses: special concerns
7.23
a Disputes subject to ICSID jurisdiction
7.24
7.25
7.26
7.27
7.28
b Nationality and article 25(2)(b)
7.29
7.30
7.31
7.32
7.33
7.34
7.35
7.36
C Preliminary Treaty Concerns
1 Exhaustion of local remedies
7.37
7.38
7.39
7.40
7.41
7.42
7.43
7.44
2 “Fork in the road”
7.45
7.46
7.47
7.48
7.49
7.50
7.51
7.52
3 Waiting periods
7.53
7.54
D Who May Initiate Arbitration under Investment Protection Instruments
7.55
7.56
7.57
1 Individuals
a Treaty provisions
7.58
7.59
7.60
7.61
7.62
7.63
b The Washington Convention
7.64
7.65
7.66
7.67
2 Corporations
7.68
7.69
7.70
7.71
7.72
7.73
7.74
3 Continuous nationality
7.75
7.76
7.77
7.78
7.79
7.80
7.81
4 Shareholders as investors
7.82
7.83
7.84
7.85
7.86
7.87
7.88
7.89
7.90
7.91
7.92
7.93
7.94
7.95
7.96
7.97
E What Is Protected by Investment Protection Instruments
1 Overview
7.98
7.99
7.100
2 “Investment” as defined in treaties and investment laws
7.101
7.102
7.103
7.104
7.105
7.106
7.107
7.108
7.109
3 “Investment” in ICSID arbitration
7.110
7.111
7.112
4 Problem areas
7.113
7.114
a Pre-investment expenditures
7.115
7.116
7.117
7.118
7.119
b Contingent rights
7.120
7.121
7.122
c Contract rights
7.123
7.124
7.125
7.126
7.127
7.128
7.129
7.130
7.131
7.132
7.133
7.134
7.135
7.136
d Indirect equity investments
7.137
7.138
7.139
7.140
7.141
7.142
7.143
8 Arbitration Procedure
Preliminary Material
A Introduction
8.01
8.02
8.03
B A Brief Overview of Prominent Arbitration Rules
1 Ad hoc arbitration: the United Nations Commission on International Trade Law (UNCITRAL)
8.04
8.05
8.06
8.07
2 Institutional arbitration
8.08
a International Chamber of Commerce (ICC)
8.09
8.10
8.11
8.12
8.13
8.14
8.15
8.16
8.17
b The International Centre for the Settlement of Investment Disputes (ICSID)
8.18
8.19
8.20
8.21
8.22
8.23
8.24
8.25
8.26
8.27
8.28
8.29
8.30
8.31
c Stockholm Chamber of Commerce (SCC)
8.32
8.33
8.34
8.35
8.36
8.37
d London Court of International Arbitration (LCIA)
8.38
8.39
8.40
8.41
C Drafting the Arbitration Clause
8.42
8.43
8.44
1 The scope of the arbitral clause
8.45
2 Pre-arbitration procedures
8.46
3 Applicable rules
8.47
8.48
4 Composition of the tribunal
8.49
8.50
8.51
8.52
5 Arbitral situs
8.53
8.54
8.55
8.56
6 Rules of evidence and document production
8.57
8.58
8.59
8.60
8.61
7 Applicable substantive law
8.62
8.63
8 Consistency among arbitration clauses
8.64
8.65
D Pre-Arbitration Procedures
8.66
8.67
8.68
8.69
8.70
8.71
8.72
8.73
E Request for Arbitration
8.74
8.75
8.76
8.77
8.78
8.79
8.80
8.81
F Approval by Arbitral Institution
8.82
8.83
8.84
8.85
8.86
G Default of a Party
8.87
8.88
8.89
8.90
8.91
8.92
H Appointment of Arbitrators
8.93
8.94
8.95
8.96
8.97
8.98
8.99
8.100
8.101
8.102
8.103
I Initial Session of the Tribunal
8.104
8.105
8.106
8.107
8.108
J Written Submissions
1 Statement of Claim and Statement of Defense
8.109
2 Splitting the case into phases
8.110
8.111
8.112
3 Written submissions and documentary evidence
8.113
8.114
K Oral Argument
8.115
8.116
8.117
8.118
L Award
1 Drafting and issuing the award
8.119
8.120
2 Challenge of awards
8.121
a Enforcement and challenge in national courts
i Enforcement of awards
8.122
8.123
8.124
8.125
8.126
8.127
ii Challenge of awards
8.128
8.129
8.130
8.131
8.132
8.133
8.134
8.135
8.136
8.137
8.138
b Challenge by ad hoc annulment (ICSID awards)
8.139
8.140
8.141
8.142
8.143
8.144
8.145
8.146
8.147
9 Mediation and Conciliation of Investment Disputes
Preliminary Material
9.01
A Mediation and Conciliation Defined
9.02
9.03
9.04
9.05
9.06
9.07
9.08
9.09
9.10
1 Information gathering
9.11
9.12
9.13
2 Assessment of positions
9.14
9.15
9.16
3 Determining interests and solution building
9.17
9.18
9.19
B Potential Advantages of Mediation/Conciliation
9.20
9.21
1 Costs
9.22
9.23
9.24
9.25
9.26
2 Speed of resolution
9.27
9.28
9.29
3 Confidentiality
9.30
9.31
9.32
4 Flexibility
9.33
9.34
5 Impact on continuing business relations
9.35
9.36
9.37
9.38
C Contracting to Mediate and Conciliate in Investment Disputes
9.39
9.40
9.41
9.42
1 UNCITRAL Conciliation Rules
a Overview
9.43
b Initiating conciliation
9.44
9.45
9.46
c Managing the process
9.47
9.48
9.49
9.50
9.51
9.52
2 The ICC Mediation Rules
a Background
9.53
9.54
9.55
b Initiating the process
9.56
9.57
9.58
c Managing the process
9.59
9.60
9.61
9.62
9.63
9.64
9.65
9.66
3 The ICSID Conciliation Rules
a Overview
9.67
9.68
b Initiating the process
9.69
9.70
9.71
9.72
9.73
c Managing the process
9.74
9.75
9.76
9.77
9.78
9.79
9.80
d Experience with the ICSID Conciliation Rules
9.81
9.82
9.83
9.84
4 The IBA Rules for investor–State mediation
a Background
9.85
b Initiating the process
9.86
9.87
9.88
c Managing the process
9.89
9.90
9.91
9.92
9.93
D ADR and Investment Treaties
9.94
9.95
9.96
9.97
9.98
9.99
9.100
E Mediation and the Energy Charter Treaty
9.101
9.102
9.103
9.104
9.105
F The Hybrid Practice of Mediation-Arbitration
9.106
9.107
9.108
9.109
9.110
9.111
9.112
G Choosing a Mediator/Conciliator or Panel of Conciliators
9.113
1 Number of mediators/conciliators
9.114
9.115
9.116
2 Nationality
9.117
9.118
3 Lawyer or non-lawyer
9.119
9.120
4 Other characteristics
9.121
9.122
9.123
H Why Mediation/Conciliation Is Not More Frequently Used in Investment Disputes
9.124
9.125
1 Lack of information about mediation/conciliation
9.126
9.127
9.128
9.129
9.130
9.131
2 Non-binding nature of mediation/conciliation
9.132
3 Over-optimism
9.133
4 Governmental constraints
9.134
10 Intervention of States in Investment Disputes
Preliminary Material
A Introduction
10.01
10.02
10.03
B “Espousal” of Claims
10.04
10.05
1 Formal requirements for State espousal
a Nationality
10.06
i Physical persons
10.07
10.08
10.09
ii Corporations
10.10
10.11
10.12
b Exhaustion of local remedies
10.13
10.14
10.15
10.16
2 Informal requirements
10.17
10.18
3 How to seek espousal
10.19
10.20
10.21
10.22
10.23
10.24
4 Interaction of State espousal with investor–State arbitration
10.25
10.26
10.27
10.28
5 State assistance short of espousal
10.29
10.30
10.31
10.32
C Claims before International Tribunals
1 In general
10.33
10.34
2 State-to-State dispute resolution under bilateral investment treaties
a Overview
10.35
b Dispute resolution pursuant to FCN treaties
10.36
10.37
10.38
10.39
c Dispute resolution pursuant to BITs
10.40
10.41
10.42
10.43
10.44
10.45
3 Dispute resolution procedures at the International Court of Justice
a Jurisdiction of the ICJ
10.46
10.47
10.48
10.49
10.50
b Procedure before the ICJ
10.51
10.52
10.53
10.54
c Enforcement
10.55
D Economic Sanctions
10.56
1 Freezing of assets
10.57
2 Vesting
10.58
10.59
10.60
3 Obligation to impose sanctions
10.61
10.62
10.63
10.64
E Invalidation of Title
1 General rule
10.65
10.66
10.67
10.68
10.69
10.70
10.71
10.72
2 United Kingdom
10.73
10.74
10.75
3 United States
10.76
10.77
4 Other States
10.78
10.79
10.80
10.81
5 Conclusions
10.82
F Prohibitions against the Use of Force
1 Overview
10.83
10.84
10.85
2 The U.N. prohibition against the use of force
10.86
10.87
10.88
10.89
3 The futility of restitution
10.90
10.91
10.92
10.93
G The U.S. Foreign Claims Settlement Act
10.94
1 History and purpose
10.95
10.96
10.97
10.98
2 Adjudicatory powers
10.99
10.100
10.101
10.102
3 The claims process
10.103
10.104
10.105
10.106
4 Other States’ programs
10.107
Further Material
Appendix I OPIC Contract of Insurance
Article I—Subject of Insurance and Exchange of Promises.
1.01 Subject.
1.02 Promises.
1.03 Maximum Aggregate Compensation.
1.04 Full Faith and Credit.
1.05 Term.
1.06 Premiums and Active Amount Elections.
1.07 Underinsurance Premium Surcharge.
Article II—Inconvertibility—Scope of Coverage.
2.01 Inconvertibility of Local Currency.
2.02 Exclusions.
Article III—Inconvertibility—Amount of Compensation.
3.01 Rate of Compensation for Inconvertibility.
3.02 Limitation.
Article IV—Expropriation—Scope of Coverage.
4.01 Total Expropriation.
4.02 Expropriation of Funds.
4.03 Exclusions.
Article V—Expropriation—Amount of Compensation.
5.01 Total Expropriation.
5.02 Expropriation of Funds.
5.03 Adjustments.
5.04 Limitations.
Article VI—Political Violence—Scope of Coverage.
6.01 Loss Due to Political Violence.
6.02 Exclusions.
Article VII—Political Violence—Amount of Compensation.
7.01 Basis of Compensation.
7.02 Limitations.
7.03 Investor’s Share.
7.04 Book Value of Insured Investment.
7.05 Appraisal.
7.06 Estimated Compensation.
Article VIII—Procedures.
8.01 Application for Compensation.
8.02 Assignment to OPIC.
8.03 Security.
8.04 Excess Salvage Value.
8.05 Arbitration.
8.06 Election of Active Amounts and Coverage Ceilings.
8.07 Termination.
8.08 Governing Law; Integration; Modification.
8.09 Notices.
8.10 Refund of Premiums.
Article IX—Investor’s Duties.
9.01 Duties.
9.02 Default.
9.03 Non-Waiver.
9.04 Cure.
9.05 Execution.
[Article X—Miscellaneous.]
Appendix II Sample Private Contract
General Terms/Conditions Section 1
Limits of Liability
Special Terms and Conditions
Notices
Inspection and Audit
Exchange Rate
Other Insurance
Subrogation
Warranty Agreements
Recoveries
Appraisal—Waiting Period
Loss Reduction—Disputes
Claim Procedure—Negotiations
Alteration, Assignment And Waiver
Cancellation
Legal Jurisdiction
Project Insurance Section 2
Expropriatory Action Coverage
Civil War and Insurrection Coverage
Forced Project Relocation Coverage
Valuation
Special Exclusions
Accounting Standards
Partial Loss
Debt Securities
Constructive Total Loss
Waiting Period Property Damage Provisions
Forced Project Relocation Requirement
Compensation in Local Currencies
Limit of Liability, Deductible, and Coinsurance
Key Personnel Insurance
Expatriate Removal Coverage
Transit Insurance Coverage
Indigenous Key Personnel Expenses Coverage
Valuation
Special Exclusion Section 3
Limit Of Liability, Deductible, And Coinsurance
Policy Exclusions Section 4
Policy Definitions Section 5
Appendix III Online Resources
General Information
Links, Bibliographies, and General
International Investment
International Trade
Cases/Decisions
Treaties
U.N. Resolutions and International Organizations
Publications/Journals Online
Information—by Chapter
Chapter 1: Political Risk
Political Risk and Related Services
Other Information
Chapter 2: Structuring Transactions to Minimize Political Risk
Chapter 3: Investment Insurance
Chapter 4: State Responsibility and Remedies under Customary International Law
Chapter 5: History and Development of the Customary International Law of Expropriation and Investment Protection
Chapter 6: The Substantive Law of Contemporary International Investment Protection
Regional Investment Treaties and General Information
Bilateral Investment Treaties
Chapters 7–9: International Arbitration, Mediation, and Conciliation
Chapter 10: Intervention of States in Investment Disputes
Chapter 11: The Interaction between International Investment Law and Human Rights
Index
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Appendix II Sample Private Contract
Noah Rubins, Thomas-Nektarios Papanastasiou, N. Stephan Kinsella
From:
International Investment, Political Risk, and Dispute Resolution: A Practitioner's Guide (2nd Edition)
Noah D Rubins, Thomas Nektarios Papanastasiou, N Stephan Kinsella
Content type:
Book content
Product:
Investment Claims [IC]
Series:
Oxford International Arbitration Series
Published in print:
02 April 2020
ISBN:
9780198808053
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