Investment Arbitration or Investment Treaty Arbitration

Arbitration between a State and a private party from another State relating to the treatment of an investment of the latter in the former. The jurisdiction of the arbitral tribunal arises from a treaty (often referred to as a bilateral investment treaty, or BIT) or provisions of a multilateral convention (often a regional free trade agreement, such as the NAFTA, or the Energy Charter Treaty, or ECT) addressing the promotion and protection of investment. Investment arbitrations can be conducted pursuant to the ICSID Convention (cf ICSID), as institutional arbitrations supervised by other arbitral institutions, or as ad hoc arbitrations.