التحكيم كوسيلة لتسوية المنازعات في مجال الإستثمار

Abstract

As a general principle, the state judicial management system covers all disputes, as well as all people living in its territory, nationals or foreigners, according to the principle of state sovereignty over its national territory. Assuming that investment disputes come exclusively subject to the authority of the national judiciary as a rule, then any settlement of such disputes outside state courts is an exception, whose aim is to attract and facilitate foreign investment. The exception has come in response to the wish of foreign investors who fear a domestic judge might be biased and influenced by the ideology prevailing in the state. For this and other reasons, foreign investors prefer resorting to arbitration as an independent body in settling their own disputes with the host country or one of its affiliated bodies. Talking about arbitration of investment disputes requires that we first shift our focus to the arbitration system in general, to the mechanisms it involves, and to the different stages it goes through. Whether a clause or a stipulation, arbitration differs from other similar terminology, such as experience, reconciliation and national judiciary. As for its legal nature, theories have diverged as to its definition. Some believe it has a contractual nature; some think it has a judicial nature. Others, on the other hand, consider it to be of a mixed or a duel nature. All sorts of arbitration pass through several stages, beginning with the agreement on arbitration and ending with the pronouncement and implementation of the arbitration judgment. Moreover, discussing arbitration of investment disputes calls for an explanation of the idea behind it. To understand it, additionally, one must point out the elements that justify resorting to arbitration in the area of investment disputes. For it has reached the stage of representing a natural judicial system in this field – thanks not only to