Právny obzor


Ročník 106



T E O R E T I C K Ý  Č A S O P I S  P R E  O T Á Z K Y  Š T Á T U  A  P R Á V A


Štandard spravodlivého a rovnoprávneho zaobchádzania a jeho súčasný status v medzinárodnom investičnom práve.

The Fair and Equitable Treatment Standard and Its Current Status in International Investment Law.

Doc. JUDr. Katarína Chovancová, PhD., LL.M., MCIArb, Ústav štátu a práva SAV, v. v. i. Bratislava

Právny obzor, 106, 2023, No. 5, pp. 433– 446.

Published online: 20.10.2023

Abstract. The fair and equitable treatment standard (FET) has become an essential norm of the global investment regime in the majority of IIAs. Interestingly, it maintains its prominent status in spite of its content, criticized for being dodgy and uncertain due to the lack of clarity – the courtesy of its character of flexible and elastic norm, adjusting and developing according to the needs of investors and their host states. The FET offers a general point of departure in formulating the claim of investor, who experienced discrimination, or other host state’s unfair practices, such as the denial of justice, the lack of transparency, or arbitrariness. Due to the negative impact of the military invasion in Ukraine, it is the protection of investors against destruction of their investments and paying a lot of attention to legitimate expectations of investors (the crucial element of the FET), which are discussed intensely these days in international investment law. In the same vein, far from being a load of old codswallop, the direct relationship of the FET and the rule of law is accentuated as well. This article is a contribution to that discussion. In addition to introduction and the basic characteristics, it introduces two types of the FET, highlighting stepping up its game in connection with preserving the rule of law instead of doing a runner. Simultaneously, it incorporates three inferences, pertaining to determinacy and adoption of the FET in IIAs. First, the FET today reflects actively an unconditional adhering to the rule of law and the stricter evaluation of the investors’ legitimate expectations. Second, it ought to be perceived, considering a high level of deference to the regulatory competence of the host state’s national bodies. Finally, the lack of the FET’s accuracy is portrayed as its advantage in favor of flexibility. As for the labelling the FET as autonomous, or the part of the CIL, it is highly likely that the new USMCA’s formulation of the FET is not just embracing the coincidence.

Key words: FET, international investment law, international investments, protection, international public law, customary international law


ISSN 2729-9228

ISSN 0032-6984


Právny obzor je recenzovaný časopis a je indexovaný v databázach SCOPUS a HeinOnline (INDEX TO FOREIGN LEGAL PERIODICALS)


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