International Commercial Arbitration (ICA) and International Investment Arbitration (IIA) differ in scope, legal frameworks, and policy concerns. ICA resolves private disputes, while IIA involves state sovereignty, public interest, and investment treaty obligations.
Fair and Equitable Treatment (FET) ensures stability, transparency, and non-discrimination in investment law. It protects investors' legitimate expectations and prevents arbitrary actions. Its evolving interpretation impacts global investment disputes and treaty practices.
The place and language of arbitration are crucial in shaping procedural fairness, efficiency, and enforceability. Governed by Sections 20 and 22 of the Arbitration and Conciliation Act, 1996, they ensure party autonomy while allowing tribunals discretion when necessary.
The Supreme Court in Arif Azim Co. Ltd. v. Micromax Informatics FZE clarified the distinction between the 'seat' and 'venue' in arbitration, reinforcing party autonomy and defining Dubai as the seat under UAE law, limiting Indian courts' jurisdiction.