Arbitrary and Unreasonable Measures

Heiskanen Veijo

in Standards of Investment Protection

Published in print September 2008 | ISBN: 9780199547432
Published online March 2012 | e-ISBN: 9780191701467 | DOI:
Arbitrary and Unreasonable Measures

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This chapter examines arbitrary and unreasonable measures in bilateral and multilateral investment treaties. A review of a relevant case law shows that the non-impairment standard rarely plays a dispositive role in international arbitral awards and that while a breach of the non-impairment standard is often raised in international investment arbitration, it is often not relied upon by claimants as their primary or exclusive cause of action. From a substantive perspective, the non-impairment standard imposes a standard of conduct on governments that is arguably substantially higher than that required by customary international law.

Keywords: arbitrary measures; investment treaties; non-impairment standard; international investment; investment arbitration

Chapter.  11679 words. 

Subjects: Public International Law

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