how has international law responded to COVID-19?
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Answer:
whether there is an investment treaty in force between their home country and the country hosting their investment – this includes verifying that the treaty has been signed and ratified by both countries;
that they satisfy the “investor” requirement under that investment treaty. Investors should consider how the treaty defines corporate nationality, e.g., whether by place of incorporation or headquarters and/or by a certain level of in-country business activity;
whether their investment is one which is covered by the treaty (most treaties define “investment” broadly);
whether the treaty contains the typical substantive protections such as fair and equitable treatment, full protection and security and national treatment;
whether non-discriminatory treatment is guaranteed in the event of losses owing to a national emergency or other significant event in the host State;
whether the treaty contains an essential security interest or emergency measures clause which allows the host State to avoid its international law obligations;
whether the treaty contains the host State’s consent to international arbitration for a broad range of investment disputes;
whether they are able to refer an investment dispute to investor-State arbitration; and
whether there are any admissibility criteria for arbitration claims.
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