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The study supports that States are bound to their international obligations. Therefore, to preserve both the sanctity of contracts and those international standards that protect investments, a breach of contract can be transformed into a BIT violation in a particular case, thus observed in the light of international law, notwithstanding a forum selection clause. The study is structured in four parts: (I) a general approach to investment treaties, umbrella clauses, and the ICSID system; (II) the study of ICSID landmark cases concerning the interpretation of umbrella clauses; (III) the analysis of breaches of contract transformed into a BIT violation, together with an overview on the Occidental v. Ecuador case; and, (IV) conclusions.
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INTERPRETATION OF UMBRELLA CLAUSES IN THE ICSID SYSTEM, Ana Lucia Jaramillo
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- Année de publication
- 2010
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