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Investor-State disputes are increasing and damage awards are often significant. It is thus no surprise that the investor-State dispute settlement (ISDS) system has come under scrutiny. Perceptions have arisen that ISDS is inconsistent, lacks transparency, and is simply unfair. This book delves into the ongoing worldwide debate and discussions regarding the ISDS system. Drawing contributors from around the world, the authors provide insights on critical topics and address the key question facing the ISDS system and the international community it serves: Should the present ISDS system be reformed, replaced, or simply remain as is?The contributors represent points of view ranging from academia to practice to governmental entities, addressing such topics as:the possible consequences of wholesale replacement or elimination of the current ISDS system;mediation as an alternative to resolve ISDS disputes;the creation of a multinational investment court or appellate review mechanism;lack of an early dismissal mechanism to eliminate meritless claims;issues regarding arbitrators, including their appointment and ethical obligations;how investors may retain their right to pursue claims for violations of investment protection following termination of an agreement;a State's right to assert a counterclaim against an investor-claimant;the role of ISDS in promoting and protecting renewable energy production;the liability of State-controlled entities;the effects and implications of third-party funding;the duty to mitigate damages in the light of excessive damages awards; andimprovements and issues relating to post-award enforcement, duration, and cost of ISDS.This book considers the ongoing deliberations and reform measures proposed by UNCITRAL's Working Group III and provides insights into how several geographic regions and economic cooperation areas have sought to address the question of reform of the ISDS system, including the European Union, the Middle East, and the new United States-Mexico-Canada Agreement.With its much-needed and deeply informed balancing of investor and State rights and duties, this book will be welcomed by all who practise in the ISDS field, including arbitrators, State governments and non-governmental organizations, regional economic organizations, and international investors.
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Expedited International Arbitration considers how expedited international arbitration policies and procedures, including the 2021 UNCITRAL Expedited Arbitration Rules, operate and affect international commercial arbitration, investor-State arbitration and mediation globally. Increasingly, international commercial arbitration has come to resemble the judicial process it was intended to replace, especially in terms of speed, costs and efficiency. Arbitration institutions worldwide have adopted rules or procedures to expedite the arbitral process to address these concerns. This book, comprising nineteen chapters, brings together thirty-one distinguished practitioners, academics and experts in the field from around the world. It furnishes diverse and rich perspectives on the various methods adopted to provide an expeditious and cost-effective means for dispute resolution, while recognizing the due process risks involved. Its comprehensive analysis of the case for expedited arbitration and the principles underpinning it covers the following aspects: expedited arbitration rules adopted by major arbitration institutions; expedited arbitration rules in the ‘ad hoc’ (non-institutional) context, including the UNCITRAL Expedited Arbitration Rules and UNCITRAL model clauses; expedited arbitration rules in various geographic regions, including China, Southeast Asia, the Caribbean, and the Middle East, focusing on specific jurisdictions in each region; new ICSID rules on mediation of investor-State disputes; and expedited arbitration-mediation (Arb-Med) in the Far East, focusing on Macau. Arbitrators and parties to international agreements will better understand the issues, options, and consequences that may result from expedited arbitration. Practitioners will benefit from guidance in drafting arbitration clauses and weighing the pros and cons of expedited arbitration procedures in various jurisdictions and under various rules, both institutions and ad hoc. This insightful book will benefit international commercial arbitration as stakeholders seek to return international commercial arbitration to its foundational underpinnings: a prompt, productive and cost-effective means of resolving commercial disputes.
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