- Compensation — Damages — Valuation
This chapter studies the areas of compensation, damages, and valuation in international arbitration practice. Modern investment treaties normally impose a standard of compensation for expropriation. Compensation for lawful expropriation is determined pursuant to the terms of the treaty as fair market value immediately before expropriation. Breach of an international obligation such as fair and equitable treatment or an unlawful expropriation creates an obligation to repair the harm caused as a result of the breach. Valuation of damages is normally performed by valuation experts in collaboration with other experts with expertise in the relevant industry sector. The chapter then explains the key concepts in valuation as well as the allocation of arbitration and legal costs.
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