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SGS v. Philippines and the Role of ICSID Tribunals in Investor-State Contract Disputes

I. INTRODUCTION

Few areas of international law have undergone more change in the last halfcentury than the relationship between investors and the foreign countries in which they invest. Bilateral investment treaties (BITs), which govern the relationship between investors of one state and t he government of another, have been increasingly prevalent since the 1960s.1 In addition to providing a number of substantive protections to international investors, many BITs provide for investorstate arbitration before the International Center for the Settlement of Investment Disputes (ICSID).2 Established by the World Bank in 1966, ICSID provides an arbitration and conciliation forum to all states who ...

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