Smriti Singh, Bharati Vidyapeeth New Law College Pune
ABSTRACT
Arbitration has become an increasingly popular method of resolving investment disputes. This paper analyses the role of arbitration in the resolution of investment disputes, including its advantages and disadvantages. This paper begins by providing an overview of the current investment dispute settlement system, including the International Center for Settlement of Investment Disputes (ICSID) and the United Nations Commission on International Trade Law (UNCITRAL). The paper then explores the advantages of arbitration, including its flexibility, neutrality, privacy, and efficiency, which make it an attractive option for investors and states alike. However, the paper also highlights some of the challenges and limitations of arbitration, such as potential bias, lack of transparency, and limited appeal options.
The paper then discusses some of the latest trends in financial arbitration, including the increasing use of treaty-based arbitration and the emergence of investor-state arbitration as an alternative to arbitration. This paper also analyses the impact of recent developments, such as the decision and ongoing discussions on investment dispute settlement reforms, on the future of financial arbitration.
Overall, the paper concludes that arbitration plays an important role in the settlement of investment disputes and will continue to be an important tool for investors and states. However, the paper also emphasizes the need for continued reform efforts to address some of the challenges and limitations of the current system and ensure that investment dispute settlement mechanisms remain effective and credible.
Keywords: Role of arbitration, Resolving investment disputes, Investment dispute resolution, Arbitration advantages, Neutrality in arbitration, Flexibility in arbitration
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