Foreign investors enjoy the protection of a vast network of international investment agreements (IIAs) supplemented by the general rules of international law. Under IIAs, states must accord foreign investors substantive standards of promotion and protection. In addition, IIAs provide an investor-state arbitration mechanism that allows foreign investors to enforce these standards against host states. In response to disputes arising under the IIA regime, since the early 1990s a significant body of arbitral jurisprudence has developed. This book provides a comprehensive and systematic explanation of these standards of treatment, taking into account developments in treaty practice and arbitral jurisprudence. Where possible, the authors critically examine the applicable principles emerging from treaty practice and jurisprudence.

The book focuses on the substantive protections accorded to foreign investors and investments. Among the many specific issues and topics that arise in the course of the analysis are the following: