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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]
Bilateral investment treaties (BITs) proliferated during the first decade of the 21st century, reaching more than 2,500 by 2007. Many such treaties contain text that refers present and future investment disputes to ICSID. [13] As of 30 June 2012, ICSID has registered 390 disputes.
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]
The ICC hopes "that these Guidelines will be useful for investors and governments alike in creating a more enabling environment for cross-border investment and in understanding more clearly their shared responsibilities and opportunities in fulfilling the vast potential of cross-border investment for shared global growth."
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)
With specific regard to the New York Convention, at least one court discussed, but ultimately avoided, the issue of whether the treaty is self-executing. The court nonetheless held that the convention was, at the least, an implemented non-self-executing treaty that still had legal force as a treaty (as distinguished from an Act of Congress). [7]
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.
A bilateral investment treaty (BIT) is an agreement establishing the terms and conditions for private investment by nationals and companies of one state in another state. This type of investment is called foreign direct investment (FDI). BITs are established through trade pacts. A nineteenth-century forerunner of the BIT is the "friendship ...