Arbitration in International Investment Contract Disputes

Аннотация

This study addresses the topic of arbitration in international investment contract disputes, reviewing the legal frameworks that govern the arbitration process and its importance as a means of settling disputes between investors and states. Through arbitration, parties avoid resorting to traditional judiciary, which achieves speed in procedures and impartiality in adjudicating conflicting interests. The study confirms that the presence of clear and specific controls for arbitration in international investment contracts contributes to creating a safe investment environment, as these controls preserve the rights of investors on the one hand, and take into account the sovereignty of states on the other hand, which supports legal stability and encourages the flow of international investments. Keywords: International Investment Contracts, Arbitration, Investment Contracts, Investor, Dispute Adjudication. Introduction: The basic idea of arbitration is the final settlement of international disputes with a binding decision issued by First: Definition of the research topic arbitrators chosen by the parties to the dispute per the Arbitration is one of the means of resolving disputes, law (1 ). In the contemporary era, the state's and it is an exceptional way based on the will of the intervention has increased, and its role has grown in parties, as the opponents resort to it to resolve the another way in the field of international trade through dispute without the competent court. its direct participation in new forms of contracts. This has led to it being a strong competitor for individuals The importance of arbitration in the field of and companies ( 2), and therefore, the provision of the international investment contracts has been confirmed arbitration clause in the field of investment contracts in as a means of resolving disputes arising from these practical reality is not considered new (3 ). international relations, as it has become the original judiciary for resolving these disputes, and its Foreign investors adopt the arbitration system because importance increases when the state or one of the it is considered the best investment for them (4 ), and public legal persons is a party to these disputes. this is what creates the desire among the parties to international contracts to "transcend or rise above The prosperity of arbitration was linked to the every specific legal system of a country, and work to development of international economic relations, as settle the disputes raised between them by a real the parties found their purpose in it as a specialized international arbitrator who directly applies a judiciary that resolves disputes arising from supranational legal system, derived from the customs international contracts due to its simplicity, speed of and traditions of international trade" (5 ). procedures, flexibility, and confidentiality. From the above, investment contracts are not International Journal of Law And Criminology 6 https://theusajournals.com/index.php/ijlc International Journal of Law And Criminology (ISSN: 2771-2214) concluded without an arbitration agreement, which The research problem arises from the principle of how would refer disputes arising from these contracts to to apply arbitration in settling disputes over arbitration. international investment contracts. This problem branches out into the following sub-questions: Talking about investment requires understanding its meanings and dimensions in light of the so-called era of 1- What is the legal nature of international globalization, as international investment activities are investment contracts? often related to the movement of goods, services, 2- What are the arbitration procedures in capital, and people across the national borders of a disputes over international investment contracts? different country. Foreign investment usually takes the form of direct investment, which constitutes the Fourth: Research objectives backbone of globalization or takes the form of indirect investment. The research aims to shed light on the legitimacy of the arbitration system in international investment Second: The importance of the research contracts, especially international ones. The study of the subject of arbitration in international investment The importance of the research lies in the economic disputes also stands out because it is one of the topics and social variables that imposed resorting to that raise renewed concepts according to the arbitration to resolve administrative disputes. continuous change witnessed by international Countries in which national savings and revenues from economic life and the resulting development of the role their natural resources were unable to meet the of the state on the stage of international relations, and growing needs for capital required by their the development of the individuals of the international development plans have adopted policies that would community in light of the development of these data.