Review of Awards Under Thailand's Model Bilateral Investment Treaty
12 Pages Posted: 19 Apr 2017
Date Written: April 5, 2017
Thailand has BITs with 41 countries. Most of these BITs have an “ad hoc” policy for the settlement of disputes. Thailand is not a member of ICSID yet, and in cases where the country has an ongoing arbitration, the terms of reference of the public international law and the UNCITRAL Arbitration Rules (“the UNCITRAL Rules”) must be applied. Thailand has also considered the possibility to amend awards under BIT because its model does not include definitive clauses regarding award reviews. Therefore, this article aims to scrutinize the review of awards under Thailand’s model Bilateral Investment Treaty (BIT) in accordance with the explanation of the review of awards, the problems in Thailand’s practice regarding the review of awards and the process of solving current problems, and the setting up of de lege ferenda for the review of awards in BIT Models.
Keywords: investors, settlement of disputes, arbitration, Bilateral Investment Treaty, award review
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