The Research On Fair And Equitable Treatment In International Investment Agreements

As one of the most important terms in the international investment agreements,the fair and equitable treatment is of great benefit to both foreign investors and host countries.The practice of international investment arbitration has a tendency to expand the explanation of fair and equitable treatment,which means not only the scope of application of the term is extremely enlarged,also means that the term has become one of the most powerful weapons used by foreign investors to challenge the host country's regulation measures.In international investment agreements,fair and equitable treatment term is mainly divided into two categories: involved in international law and not involved in international law.Fair and equitable treatment provisions which are not involved in international law are easy to expand interpretation.The scope of international law in fair and equitable treatment provisions involved in international law is extremely broad,and cannot effectively clear the connotation of fair and equitable treatment.As a result,the listing of fair and equitable treatment terms rose.In the international investment arbitration,the arbitration tribunal considers the elements contained in such treatment standard,such as the principle of good faith,stable legal and business environment,the principle of investors' reasonable expectation protection,the principle of due process,the principle of transparency,which can effectively limit the expanding interpretation and promote the consistency of the related decision of the arbitration tribunal.Therefore,it is better to balance the sovereignty of the host country and the interests of investors by adopting a comprehensive closed list of the elements of fair and equitable treatment and the adjustment right of the elements belonging to the contracting parties.