AJIL

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Giving the Treaty a Purpose

The U.S. is an international anomaly in that it has several instruments at its disposal to conclude agreements with other countries. The choice of the instrument determines what steps need to be taken in order to turn an informal promise into a formal and binding agreement under U.S. law. Whereas treaty ratification needs the support of two-thirds of the Senate, the congressional-executive agreement (“CEA”) requires a simple majority in both the Senate and the House.

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Toward a “New MFN Debate” in Investment Treaty Arbitration

Most-Favored-Nation (MFN) clauses present, in the words of the U.N. International Law Commission (ILC), one of the “most vexed interpretive issues under international investment agreements.” The clause nevertheless persists, supplying one of the key non-discrimination requirements in modern investment treaties and free trade agreements. In essence, the MFN clause prohibits nationality-based discrimination among foreign investors: the host state undertakes to treat the investor’s investment as favorably as investments from other countries.

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The 2019 Smit-Lowenfeld Prize for the best article in the field of international arbitration

The International Arbitration Club of New York (IACNY) announced today that Simon Batifort and J. Benton Heath are the recipients of the 2019 Smit-Lowenfeld Prize for the best article in the field of international arbitration. The prize is being awarded for the article, “The New Debate on the Interpretation of MFN Clauses in Investment Treaties: Putting the Brakes on Multilateralization”, which was published in the American Journal of International Law (Vol. III No. 4).

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