A Comparison of the 2004 and 1994 US Model BITs

Subject(s):

Foreign Direct Investment — Definition of investment — Treaties, interpretation — Host state law

In November 2004 the United States adopted a new model negotiating text for its bilateral investment treaties (BITs). The 2004 model was the first comprehensive revision of the model BIT since 1994 and the most comprehensive revision since the program's inception. This article compares the 2004 model with its 1994 predecessor.