- NAFTA (North American Free Trade Agreement) — ECT (Energy Charter Treaty) — Expropriation — Indirect expropriation — Fair and equitable treatment standard — Full protection and security — Most-favoured-nation treatment (MFN) — BITs (Bilateral Investment Treaties) — UNCITRAL Arbitration Rules — Umbrella clause
The previous two chapters concern customary international law principles. Investors, however, increasingly rely on the substantive protections provided in a growing number of multilateral and bilateral investment treaties (BITs). This chapter describes the modern international law of investment protection as embodied in such treaties, including investment standards such as prohibition of expropriation without compensation, fair and equitable treatment, full protection and security, the umbrella clause, most-favored-nation (MFN) treatment, compensation methods etc. and their application. Also included is a detailed discussion of methods of valuation of damaged or expropriated property. The multilateral and retional treaties discussed include the North American Free Trade Agreement (NAFTA), the Energy Charter Treaty, the Lomé Conventions, Mercosur, and the ASEAN Treaty.
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