Enhancing Investor-State Dispute Resolution: Suggestions to Optimize the Effectiveness of Cooling-Off Clauses in International Investment Agreement Negotiations

The cooling-off clause in international investment agreements, intended to foster amicable dispute resolution before arbitration, often causes varied tribunal interpretations and jurisdictional disputes due to its unclear drafting. This article aims to comprehensively explore the cooling-off clause,...

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Bibliographic Details
Published in:Vietnamese Journal of Legal Sciences 2024-04, Vol.10 (1), p.44-61
Main Authors: Huong, Nguyen Thi Lan, Hien, Hoang Thi Khanh
Format: Article
Language:English
Subjects:
ADR
Arbitration
BITs
Cooling
cooling-off clause
cooling-off period
Dictionaries
Disputes
IIAs
investment arbitration
Investors
ISDS
Jurisdiction
Mediation
Negotiations
Partnership agreements
Treaties
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Summary:The cooling-off clause in international investment agreements, intended to foster amicable dispute resolution before arbitration, often causes varied tribunal interpretations and jurisdictional disputes due to its unclear drafting. This article aims to comprehensively explore the cooling-off clause, covering its definition, the beginning and ending points of the cooling-off period, function, and enforceability in investor-state dispute settlement practice. It also delves into two different approaches adopted by investment tribunals in case of non-compliance with the cooling-off clause. Drawing from this analysis, the article provides recommendations for Vietnam as a host state to ensure the effective application of this clause.
ISSN:2719-3004
2719-3004
DOI:10.2478/vjls-2024-0003