Evolution or Devolution?

Defining FairandEquitableTreatmentin International Investment Law

In: The Journal of World Investment & Trade
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  • 1 B. Comm., LL.B., LL.M. (Columbia). The author wishes to thank the faculty and staff at the University of Otago, New Zealand for their assistance in the completion of this article during the course of the author's tenure there as a Visiting Lecturer. The author may be contacted at: ‹›.
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I. INTRODUCTION The principle of "fair and equitable treatment" is both a common concept found in many trade-related treaties and an equally misunderstood term that has plagued academics, governments and investors. The source of the misunderstandings of this amorphous concept stems primarily from the lack of definition ascribed to the fair and equitable treatment provisions in several trade treaties, most notably in the North American Free Trade Agreement (NArTA). This gap in treaty definitions has allowed investors and governments to take opposite stances in delineating the precise scope of the term, with governments arguing for a restrictive view of

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