Fair and Equitable Treatment, the Rule of Law, and Comparative Public Law

Stephan W. Schill

in International Investment Law and Comparative Public Law

Published in print October 2010 | ISBN: 9780199589104
Published online January 2011 | e-ISBN: 9780191595455 | DOI:
Fair and Equitable Treatment, the Rule of Law, and Comparative Public Law

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This chapter discusses fair and equitable treatment as one of the core concepts of international investment protection. It suggests that the jurisprudence of investment tribunals on fair and equitable treatment can be conceptualized under a primarily institutional and procedural concept of the rule for law that has parallels in the major domestic legal systems of liberal democracies, and argues that such an understanding can be normatively grounded in the objective of international investment treaties. This overarching understanding translates into several sub-elements of fair and equitable treatment, including the requirement of stability, predictability and consistency, the principle of legality, the protection of legitimate expectations, procedural due process and denial of justice, substantive due process and protection against discrimination and arbitrariness, transparency, and the principles of reasonableness and proportionality.

Keywords: fair and equitable treatment; rule of law; stability; predictability; denial of justice; legitimate expectations; due process; arbitrariness; discrimination; transparency

Chapter.  16801 words. 

Subjects: Constitutional and Administrative Law

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