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. The book traces the purpose, context and evolution of the clauses and provisions characteristic of contemporary investment treaties, 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 introduces the dispute settlement mechanisms for enforcing investment law, outlining the operation of State vs. State and 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 or practitioners new to the field.

I. Background and Introduction 1. Nature, Evolution and Context 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 13. Full Protection and Security 14. 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 Five Model Treaties: US, UK, France, Germany, China ICSID Convention NAFTA Ch. XI ECT

Rudolf Dolzer , Professor, University of Bonn, Germany, Christoph Schreuer , Professor of International Law, University of Vienna, Austria

`The expansion of bilateral investment treaties (BITs) and regional agreements dealing with investment, and the increasing number of awards applying them in disputes between foreign investors and host States makes this book quite timely. Although there have been several efforts to present the subject-matter in a single volume, this is the first successful attempt to do so in clear and authoritative terms, maintaining an appropriate balance between conciseness and completeness...this work not only deals with "principles" as the title indicates, but systematically and meticulously covers all the issues that have presented themselves in this subsector of international law.' Giorgio Sacerdoti, Italian Yearbook of International Law, Vol XVIII |d 2009