SHERP

국제투자분쟁의 해결
Dispute Settlement under the Bilateral Investment Treaty

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Authors
장승화
Issue Date
2001
Publisher
서울대학교 법학연구소
Citation
법학, Vol.42 No3 pp.82-138
Keywords
외국자본을 국내에 유치Bilateral Investment Treaty: BIT양자간 투자협정ICSID 협약
Abstract
As with an increasing number of new bilateral investment treaties between
Korea and other countries, there is a strong need to study legal implications
of individual provisions under bilateral investment treaties. Bilateral investment
treaties contain many substantive provisions, such as the scope of investment,
general standards for protection of investment, takings/compensation and
transfers. In addition, one of the essential components of bilateral investment
treaties is dispute settlement-related provisions.
What is striking in respect of investment-related dispute settlement is that
investors can bring an arbitration against the hosting government, which is
normally covered by the Washington Convention and administerd by
ICSID(International Center for Settlement of Investment Disputes). This paper
focuses on this unique type of investment dispute settlement procedures. While
introducing relevant provisions of the Washington Convention, this paper
demonstrates the practical importance of how to draft individual dispute
settlement-related provisions. As a related matter, subrogation provisions will
be dealt with at the last part of this paper.
Dispute settlement provisions's importance in negotiating bilateral investment
treaties cannot be emphasized too much, since without such provisions no
other substantive provisions could be enforced in the end. This paper is
designed to provide investment-related government officials with practical
guidances for their negotiation of bilateral investment treaties with other
nations in the future. Further, the author hopes that this seminal paper in this
area will provoke a series of subsequent legal studies of investment.
As with an increasing number of new bilateral investment treaties between
Korea and other countries, there is a strong need to study legal implications
of individual provisions under bilateral investment treaties. Bilateral investment
treaties contain many substantive provisions, such as the scope of investment,
general standards for protection of investment, takings/compensation and
transfers. In addition, one of the essential components of bilateral investment
treaties is dispute settlement-related provisions.
What is striking in respect of investment-related dispute settlement is that
investors can bring an arbitration against the hosting government, which is
normally covered by the Washington Convention and administerd by
ICSID(International Center for Settlement of Investment Disputes). This paper
focuses on this unique type of investment dispute settlement procedures. While
introducing relevant provisions of the Washington Convention, this paper
demonstrates the practical importance of how to draft individual dispute
settlement-related provisions. As a related matter, subrogation provisions will
be dealt with at the last part of this paper.
Dispute settlement provisions's importance in negotiating bilateral investment
treaties cannot be emphasized too much, since without such provisions no
other substantive provisions could be enforced in the end. This paper is
designed to provide investment-related government officials with practical
guidances for their negotiation of bilateral investment treaties with other
nations in the future. Further, the author hopes that this seminal paper in this
area will provoke a series of subsequent legal studies of investment.
ISSN
1598-222X
Language
Korean
URI
http://lawi.snu.ac.kr/

http://hdl.handle.net/10371/9045
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College of Law/Law School (법과대학/대학원)The Law Research Institute (법학연구소) 법학법학 Volume 42, Number 1/4 (2001)
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