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2019, vol. 57, iss. 4-6, pp. 586-595
Notion of investment in ICSID arbitration case law: Has the Salini case resolved the dilemma?
University of Belgrade, Faculty of Law
Keywords: investment; ICSID; Salini test
This article deals with one of the conditions for ICSID jurisdiction - that the dispute arises out of the investment. Keeping in mind that ICSID Convention does not define the notion of investment, arbitral tribunals have been facing so far the cases during which it was necessary to decide whether a specific transaction between a company and a state represents an investment or not. There are two approaches: to leave to the parties' disposition to decide whether their relationship should be considered as an investment or to propose objective criteria for determining an investment. The aim of this article is to propose an overview of the approaches that the arbitral tribunals have been taking in different cases, as well as to consider different criteria for determination of an investment used by the tribunals.


article language: Serbian
document type: unclassified
published in SCIndeks: 04/07/2019

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