Principles of International Investment Law

This book outlines the principles behind the international law of foreign investment. The main focus is on the law governed by bilateral and multilateral investment treaties. It traces the purpose, context, and evolution of the clauses and provisions characteristic of contemporary investmenttreaties, and analyses the case law, interpreting the issues raised by standard clauses. Particular consideration is given to broad treaty-rules whose understanding in practice has mainly been shaped by their interpretation and application by international tribunals. In addition, the book introducesthe dispute settlement mechanisms for enforcing investment law, outlining the operation of Investor vs State arbitration.Combining a systematic analytical study of the texts and principles underlying investment law with a jurisprudential analysis of the case law arising in international tribunals, this book offers an ideal introduction to the principles of international investment law and arbitration, for students orpractitioners alike.

Rudolf Dolzer is Former Director of the Institute of International Law at the University of Bonn. He
has presented a new concept for a Framework Agreement on the Promotion of German-Russia Energy Relations in April 2011 in Omsk at the Annual Meeting of the German-Russian Raw Materials Forum. He has co-chaired the Forum's Working Group on International Relations since 2008. He was Vice Rector at the University of Mannheim and has taught at the Southern Methodist University in Texas, at the Massachusetts Institute of Technology, at the Michigan Law School, at the Chinese Academy of Social Sciences in Beijing, at the Yale Law School, at the Sorbonne in Paris and at the Instituto de Empresa in Madrid. From 1978 to 1992, he was a part-time journalist at the Frankfurter Allgemeine Zeitung, thereafter he was Director General at the Office of Federal Chancellor Kohl. He later served as a member of three Commissions of Inquiry of the German Parliament.

Christoph Schreuer is a Counsel at Wolf Theisss Rechtsanwalte and Professor Emiterius at the University of Vienna.

I. Background and Introduction
1. The Object and Purpose of International Investment Law
2. The History of International Investment Treaties
3. The Evolving Context of Investment Rules - The Sources of International Investment Law
4. Model Treaties
5. Interpreting Investment Treaties
II. Investors and Investments Covered by International Agreements
6. Nationals and Companies
7. The Concept of Investment
8. Application of International Agreements in Time
III. Investment Contracts
9. Investment Contracts
IV. Admission and Establishment
10. Admission and Establishment
V. Principles of Protection - Substantive Standards
11. Fair and Equitable Treatment
12. Full Protection and Security
13. Protection from Expropriation
14. Protecting Contractual Rights: The Umbrella Clause
15. Access to Courts, Denial of Justice, Fair Procedure
16. Armed Conflict and Emergencies
17. Preserving Existing Rights
18. Protection Against Arbitrary Treatment and Discrimination
19. National Treatment
20. Most Favoured Nation Treatment
21. Transfer of Payments, Convertibility, Exchange Rights
VI. Questions of State Responsibility
22. Attribution: Provinces, Municipalities
23. The Role of State Entities
VII. Political Risk Insurance
24. MIGA
25. National Insurance Programmes
26. Private Investment Insurance
VIII. Settling Investment Disputes
27. State v. State Disputes
28. Investor v. State Disputes
Annexes
Four Model Treaties: US, UK, France, Germany
ICSID Convention
NAFTA Ch. XI
ECT