The Full Protection and Security Standard Comes of Age: Yet another challenge for states in investment treaty arbitration?

This paper traces the development of the full protection and security provision in international investment agreements. This provision has emerged as a potent tool for investor protection. The paper first identifies the common formulations of the standard as found in international investment treaties, then discusses the key arbitral rulings in relation to the standard. It concludes by identifying options for states in managing their exposure to liability under this standard.

http://www.iisd.org/pdf/2011/full_protection.pdf