Jola Gjuzi, Stabilization Clauses in International Investment Law: A Sustainable Development Approach, Springer, 2018. p.11. (‘Jola Gjuzi’) https://link.springer.com/book/10.1007/978-3-319-97232-9

M. Sornarajah, The International Law on Foreign Investment, Cambridge University Press, 3rd Edn, 2015.  p.281. (‘Sornarajah’)

Total S.A. v. The Argentine Republic, Decision on Liability, ICSID Case No. ARB/04/01 (27.12.2010) [101]. https://www.italaw.com/sites/default/files/case-documents/ita0868.pdf

Sornarajah, p.281. 

Jola Gjuzi, p.13. 

Geiger, Rainer (1974) The Unilateral Change of Economic Development Agreements. International & Comparative Law Quarterly 23(1), p. 73. https://www.cambridge.org/core/journals/international-and-comparative-law-quarterly/article/abs/unilateral-change-of-economic-development-agreements/C408F487C4BCA6DABADDE28109A14D8C

Ibid.

Dolzer, Rudolf, and Christoph Schreuer. 2008. Principles of International Investment Law. 1st Edn. Oxford, England: Oxford University Press. p.27.

Černič, Jernej Letnar, (2010) Corporate human rights obligations under stabilization clauses. German Law Journal 11 (2). p.221.

Jola Gjuzi, p.14.

UNCTAD, (2016) Investment Laws: A widespread tool for the promotion and regulation of foreign investment, Investment Policy Monitor. p.1. https://investmentpolicy.unctad.org/publications/155/investment-laws-a-widespread-tool-for-the-promotion-and-regulation-of-foreign-investment (“UNCTAD Study”)

Jola Gjuzi, p.22.

Baigal E., Legal Issues of Foreign Investment, 2010, p.21.

Baigal E., Legal Issues of Foreign Investment, 2010, p.21.

Katja Gehne, p.9.

UNCTAD Study, p.1.

Katja Gehne & Romula Brillo, Stabilization Clauses in International Investment law: Beyond Balancing and Fair and Equitable Treatment, NCCR working paper 2013/46, 2017, p.9.  https://www.wti.org/research/publications/660/stabilization-clauses-in-international-investment-law-beyond-balancing-and-fair-and-equitable-treatment/ (“Katja Gehne”)

Abdullah Al Faruque (2006) Validity and Efficacy of Stabilisation Clauses: Legal Protection vs. Functional Value, Journal of International Arbitration 23 (4): 317. pp.322-323. https://heinonline.org/HOL/LandingPage?handle=hein.kluwer/jia0023&div=30&id=&page= (“Al Faruque 2006”)

Jola Gjuzi, pp.38-51.

Jola Gjuzi, pp.69-72.

Intangibility clauses are intended to ensure that the investment contract is not affected from the Host state measures, unless the parties have mutually agreed to it. Intangibility clause expressly allows the Host state to change the law or regulations. It is more flexible subtype of classic stabilization clause. However, they are not common in investment contracts and domestic legislation.

M. Sornarajah, The International Law on Foreign Investment, 3 Edn, Cambridge University Press. p.281.

Waelde, Thomas W., and George Ndi (1996) Stabilizing International Investment Commitments:

International Law Versus Contract Interpretation, Texas International Law Journal 31: 215, p.260. https://www.semanticscholar.org/paper/Stabilizing-International-Investment-Commitments%3A-W%C3%A4lde-Ndi/fbbd6c6885c7f3fd4f50505d9da9619c978fe511 (“Waelde”)

Jola Gjuzi, p.42.

The hybrid clause require the state to restore the investor to the same position it had prior to changes in law, and the contract states explicitly that exemptions in law are one way of doing this.

According to the study of some researchers, choice-of-law clauses may be regarded as stabilization clauses given that this clause releases the foreign investor from the influence of domestic law by choosing another body of law as its governing law.

Shemberg (2009) Stabilization Clauses and Human Rights, IFC/SRSG Research Paper, p.9. https://www.ifc.org/wps/wcm/connect/0883d81a-e00a-4551-b2b9-46641e5a9bba/Stabilization%2BPaper.pdf?MOD=AJPERES&CACHEID=ROOTWORKSPACE-0883d81a-e00a-4551-b2b9-46641e5a9bba-jqeww2e (“Shemberg”)

Shemberg, p.6.

Lorenzo Cotula (2008) Regulatory Takings, Stabilization Clauses and Sustainable Development, OECD Global Forum on International Investment, 1 (7). Regulatory Takings, Stabilisation Clauses and Sustainable Development | OECD Investment Policy Perspectives 2008 | OECD iLibrary (oecd-ilibrary.org) (“Lorenzo Cotula”)

Parkerings-Compagniet AS v. Republic of Lithuania, Award, ICSID Case No. ARB/05/8 (11.9.2007) [332]. https://www.italaw.com/sites/default/files/case-documents/ita0619.pdf (“Parkerings”).

AGIP S.p.A. v. People's Republic of the Congo, Award, ICSID Case No. ARB/77/1 (30.11.1979). https://jusmundi.com/en/document/decision/fr-agip-s-p-a-v-peoples-republic-of-the-congo-sentence-friday-30th-november-1979

LETCO v. Liberia, Final Award, ICSID Case No. ARB/83/2 (31.03.1986) [343]. https://jusmundi.com/en/document/decision/en-liberian-eastern-timber-corporation-v-republic-of-liberia-award-monday-31st-march-1986

Liberian Eastern Timber Corporation v. Republic of Liberia, Award, ICSID Case No. ARB/83/2 (31.3.1981) [81]. https://jusmundi.com/en/document/decision/en-liberian-eastern-timber-corporation-v-republic-of-liberia-award-monday-31st-march-1986; AGIP, p.86; The American Independent Oil Company v. The Government of the State of Kuwait, Final Award, Ad hoc arbitration (24.3.1982) https://jusmundi.com/fr/document/decision/en-the-american-independent-oil-company-v-the-government-of-the-state-of-kuwait-final-award-wednesday-24th-march-1982; Parkerings, [331]. https://jusmundi.com/en/document/decision/en-parkerings-compagniet-as-v-republic-of-lithuania-award-tuesday-11th-september-2007; Sergei Paushok, CJSC Golden East Company and CJSC Vostokneftegaz Company v. The Government of Mongolia, Award on Jurisdiction and Liability, UNCITRAL (28.04.2011) [305]. https://www.italaw.com/sites/default/files/case-documents/ita0622.pdf

Maniruzzaman, A.F.M., State Contracts with Aliens: The Question of Unilateral Change by the State in Contemporary International Law, Journal of International Arbitration, Vol. 9 No. 4 (1992), p.141. https://www.researchgate.net/publication/228184119_State_Contracts_with_Aliens_The_Question_of_Unilateral_Change_by_the_State_In_Contemporary_International_Law

Aminoil v. Kuwait, Final Award (24.03.1982) [158]–[159]. https://jusmundi.com/en/document/decision/en-the-american-independent-oil-company-v-the-government-of-the-state-of-kuwait-final-award-wednesday-24th-march-1982

Bajar Scharaw, The Protection of Foreign Investments in Mongolia: Treaties, Domestic Law, and Contracts on Investments in International Comparison and Arbitral Practice, European Yearbook of International Economic Law Volume 2, 2017, p.145. https://www.springer.com/series/8165 (“Bajar Scharaw”)

Bajar Scharaw, p.148.

Bajar Scharaw, p.153.

Law of Mongolia on Investment (2013), Article 13(4). https://investmentpolicy.unctad.org/investment-laws/laws/124/mongolia-investment-law

Law of Mongolia on Foreign Investment (1993). https://legalinfo.mn/mn/detail/212

Law of Mongolia on Investment (2013). https://legalinfo.mn/mn/detail/9491

Ibid.

Rule No. 02 of the Constitutional Court dated 13.02.2015. https://old.legalinfo.mn/law/details/10903?lawid=10903

The Constitution of Mongolia. https://legalinfo.mn/mn/detail/367

Ibid.

Kyla Tienhaara (2008) Unilateral Commitments to Investment Protection: Does the Promise of Stability Restrict Environmental Policy Development? Yearbook of International Law, p.57. https://regnet.anu.edu.au/sites/default/files/publications/attachments/2015-05/Tienhaara-2008-Unilateral_Commitments_0.pdf (“Kyla Tienhaara”)

Ibid.

Kyla Tienhaara, p.150.

UNCTAD Policy, p.5.

Kosovo, Law on Foreign Investment (2014), Article 6 “Stability of Investment Regime”.  https://investmentpolicy.unctad.org/investment-laws/laws/211/kosovo-law-on-foreign-investment

Ibid.

Azerbaijan, Law on the Protection of Foreign Investments (1992) Article 10 “Guarantees against changes in legislation”. https://investmentpolicy.unctad.org/investment-laws/laws/9/azerbaijan-foreign-investments-law

Uzbekistan, The Law On Investments and Investment Activity (2019), Article 64 ‘Application of the provisions of this Law to previously made investments’ https://investmentpolicy.unctad.org/investment-laws/laws/328/uzbekistan-the-law-on-investments-and-investment-activity

Georgia, Law on the Investment Activity Promotion and Guarantees (2019), Article 15.  Guarantees during amendment of legislation. https://investmentpolicy.unctad.org/investment-laws/laws/75/georgia-investment-law

Ibid.

Tax rate stabilization, common legal guarantee of investment, and rights of obligations of investor etc.