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Conciliation And BITs

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Chapter Summary

This chapter briefly refers to conciliation procedures under the International Centre for Settlement of Investment Disputes (ICSID) Convention and other conciliation rules and their similarities and differences with arbitration. It analyzes to what extent conciliation is provided for in the bilateral investment treaties (BITs) concluded by the G-8 countries and by two emerging economies (Argentina and India). Although a study of a larger number of BITs would have been outside the scope, the practice of these ten countries provides an indication of the attitude of countries with very sophisticated BIT programs and with interests in many investment disputes towards conciliation. The chapter concludes by reflecting on how conciliation and arbitration may be getting closer in some respects and by encouraging the wider inclusion of provisions on conciliation in BITs as a way to contribute to the development of conciliation as a useful tool to resolve investment disputes.

Keywords: bilateral investment treaties (BITs); conciliation; ICSID Convention



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