13 Conclusions on the Relevance of Good Faith to the Integrity of the Investment Arbitration Regime

Subject(s):

Good faith — General principles of international law — Relationship of international law & host state law

This concluding chapter emphasises the relevance of good faith to the integrity of the investment arbitration regime. It first considers the investment tribunals’ purposes for applying the principle of good faith in arbitration — to fill perceived gaps in treaty language, to protect host state values, to recognise the relationship between public international law in investment arbitration, and to legitimise investment decisions. It then examines the positive impact of good faith on international investment arbitration and how the principle establishes connections between private and public international law, between domestic laws and international law, and between the developed and developing narrative that emerges in the realm of international investment law. Finally, it explains why good faith is necessary in the dialogue of international law.