NORDSCI Conference proceedings 2022, Book 2

Law

PROCEDURAL ASPECTS OF THE INTERNATIONAL INVESTMENT ARBITRATION

Assoc. Prof. Dr. Aida Mulalic, Assoc. Prof. Dr. Larisa Velic, Assoc. Prof. Dr. Masa Alijevic

ABSTRACT

Procedural aspects of international investment arbitration presented in the paper aim to higlight some particularities of this type of arbitration mirroring sui generis nature of investment based relations. As a result, two methods were imposed as applicable: dogmatic method and analysis. The dogmatic theory explains legal approach applicable in the arbitration investment practice through existing legal norms, formal sources and procedural aspects of investment law. The analysis describes the elements of the investment arbitration procedure, while trying to explain the complexity of this type of procedure based on its elements. International investment agreements in addition to the substantial standards of investment protection enable the initiation of arbitration proceedings against the host country in which the investment is made aiming to resolve disputes that may arise regarding the scope of the performance of obligations contained in a investment agreement and the compliance of the performance with the specified substantial standards. Thus, the responsibility of the host country in international obligations is established without the need for the intervention of the home country.

KEYWORDS

investments, arbitration, procedure, ICSID, arbitration clause

REFERENCE

NORDSCI Conference proceedings 2022, Book 2,Volume 5, ISSN 2603-4107, ISBN 978-619-7495-30-0, DOI paper 10.32008/NORDSCI2022/B2/V5/12, Pages 141 - 148 pp