Abstract
The growing concern of States to attract foreign investment into their territories has led to the formulation of a legal structure aimed at encouraging investment through the granting of a secure and stable environment for investors. In the core of this structure is the Fair and Equitable Treatment standard which, as a non-contingent standard, constitutes an independent and reliable system for the protection of the investor. However, the application of the true fairness concept underlying the standard seems at times in jeopardy, due to a serious lack of precision regarding its true meaning. Arbitrators and scholars have wandered from one interpretation to another. This article examines the latest and most decisive attempts to define the standard within modern international law, all of which have contributed to a dynamic but controversial discussion around the topic.
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