Translated Abstract
As the global economy increasingly interlinked, investment has increased between countries, at the same time, bilateral investment treaties and agreements which protecting and promoting investment are growing. By November 2011, China has already signed bilateral investment treaties with more than 100 countries and regions.Bilateral investment treaties play an important role in investment protection, At present, both sides of the case involving lawsuit in ICSID are all see bilateral investment treaties as theirselves farmar,desire for get the support of the arbitration tribunal.the most exciting part must be the explanation of the core terms.But most of bilateral investment treaties are framework provisions,and template terms are brief. For example, The United States 2004 BIT model only has 37 terms and four appendixes, Canada 2004 BIT model has no more than 52 terms and four appendixes.Together with the interference of the interest demand, legal understanding, the regional culture, language communication and so on, made the interpretation of the BIT become the crucial factors in the success of the case. How to explain, you have to mention the method of interpretation,the interpretation of the core terms of BIT has a profound theoretical significance and practical significance.In this paper,we use the general principles of legal hermeneutics, especially the rules of treaty interpretation, and close contact with international BIT legal practice,to reaserch the interpretation methods of the BIT core terms,no doubtedly will deepened the understanding of BIT.Through the BIT core terms legal interpretation rearch from every interpretation aspect, looking forward to get the general BIT hermeneutics theory and provide certain theoretical basis to improve the BIT interpretation methods.We can draw some conclusions through the study,when we choose method to explain the core terms of the BIT,we should consider some principles such as goodwill interpretation,no explain or limit interpretation,faithful text,respect BIT’s intention and purpose, in addition, to consider the BIT terms’ stability,we should do value choice if plural explanation conclusions appeared,and must follow with fully demonstration.At the same time,we should also consider the follow factors,background or purpose when sign the BIT, the interests balance between the host country and investors,public interest protection of the host country,fair or non-discriminatory between investors etc.In interpretation practice,we should follow the principles and factors above,and select corresponding interpretation method,to ensure get positive effect.
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