Part IV The International Legal Framework, 15 The Nature and Content of Investment Treaties
From: The Three Laws of International Investment: National, Contractual, and International Frameworks for Foreign Capital
Jeswald W. Salacuse
- International economic law — Standards of treatment — Expropriation — Law of treaties — BITs (Bilateral Investment Treaties) — Treaties, invalidity, termination, suspension, withdrawal — Treaties, application
The world’s more than three thousand investment treaties constitute the basic pillar of the international legal framework for investment. An investment treaty is an agreement by which two or more states agree to accord specified legal treatment to investments undertaken in their territory by nationals of another treaty party and to resolve related disputes in the event that a state is alleged to have denied such legal treatment to a protected investment. Although the specific provisions of individual investment treaties are not identical and some investment...