Abstract:

Tribunals of investment arbitrations have frequently rendered contradictory awards. This scenario have raised concern about the necessity of establishing appellate mechanisms to harmonize the situation so as to achieve a consistent and coherent result facilitating predictability and consistency in international investment. However, some practitioners and authors, mostly representing the interests of developing countries, objected to such mechanisms for various reasons such as contravening the principle of finality as well as political reality. This study concludes that an appellate mechanism should be incorporated into the current international investment arbitration dispute resolution system and proposed to create a standalone appeals facility for reviewing investor-state disputes to promote a cohesive and consistent body of law. Key Words: Investment Arbitration, Inconsistent Awards, ICSID, Appellate Mechanism.

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