UNCITRAL Rules on Transparency in Treaty-Based Investor-State Arbitration

Abstract

In July 2013, UNCITRAL adopted Rules on Transparency in Treaty-based Investor-State Arbitration (the "Rules on Transparency" or the "Rules"), which will be, coming into force on 1 April 2014, the most comprehensive set of procedural rules in existence governing transparency in treaty-based investor-State disputes. The intergovernmental nature of the negotiation of, and consensus in relation to, the final instrument, confers a legitimacy that is unique to UNCITRAL. This article proceeds to set out the resolution of the intensively debated issue of consent - as ultimately encapsulated in the scope of application of the Rules on Transparency - as well as briefly addressing the content of the Rules, by reference to the deliberations of the Working Group and the Commission, current practice in investment treaty arbitration, and the possible implications for future arbitrations conducted under the Rules on Transparency.