Is the Treatment of the 'umbrella' or 'pacta sunt servanda' clause in the SGS v Pakistan jurisdictional decision (2003) correct? A case comment
Article from: OGEL 5 (2003), in International Oil, Gas & Energy Dispute Management
Summary
Had the tribunal examined pre-existing international law on breach of government contracts, including the NIEO controversy between Third World and Western countries' concepts of contract protection more closely, had it paid more than lip-service to the plain meaning approach mandated by the Vienna Convention, had it related the respect for contractual commitment with the investment promotion purposes of this - like all other - investment treaties and had it paid attention to the now prevailing state practice of including increasingly explicit 'pacta sunt servanda' clauses, it would not ...