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The Mauritius Convention will render the UNCITRAL Rules on Transparency in Treaty-based Investor State Arbitration also applicable to disputes arising out of investment treaties that were concluded prior to 1 April 2014 if both parties to the investment treaty are also party to the Mauritius Convention. [58]
The ICSID Secretariat may also administer dispute resolution proceedings under other treaties and regularly assists tribunals or disputing parties in arbitrations among investors and states under the United Nations Commission on International Trade Law (UNCITRAL)'s arbitration regulations.
International arbitration is an alternative to local court procedures. International arbitration has different rules than domestic arbitration, [6] and has its own non-country-specific standards of ethical conduct. [7] The process may be more limited than typical litigation and forms a hybrid between the common law and civil law legal systems. [8]
CME v. Czech Republic and Lauder v.Czech Republic were parallel cases decided by two different arbitral tribunals in 2001. The difference in the two cases' outcomes is a prime example of conflicting decisions in international arbitration and is the subject of many treatises, with some authors going as far as calling it "the ultimate fiasco in investment arbitration".
The Cairn Energy and Government of India dispute is mainly an ongoing tax and investment dispute which has its origins in 2005–2006. [1] [2] The case is closely linked to Cairn's partner in India, Vedanta, and to concepts such Ex post facto law in the form of retrospective taxation, bilateral investment treaties, and international arbitration between private and sovereign states.
the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration (2015) the United Nations Convention on International Settlement Agreements Resulting from Mediation (the Singapore Convention on Mediation) (2018) the United Nations Convention on the International Effects of Judicial Sales of Ships (2022)
In arbitral proceedings the language of arbitration may be chosen, whereas in judicial proceedings the official language of the country of the competent court will be automatically applied. Because of the provisions of the New York Convention 1958 , arbitration awards are generally easier to enforce in other nations than court verdicts.
The treaty was adopted on 10 December 2014 by United Nations General Assembly resolution 69/116 during the sixty-ninth session of the General Assembly. It has been signed by 22 states. It entered into force on 18 October 2017 after it had been ratified by its third state.