International Investment Law consists of a set of rules that protect the investment and the foreign investor against the actions of the States receiving the investment. The desideratum of this Law has been that by means of international investment protection, investors would feel more secure and consequently attracted to make investments in the States that are bound by those rules.
A large part of this Law is enshrined in the Bilateral Investment Treaties, BITs, and multilateral treaties that address the investment issue, whether as part of a trade agreement, regionally or as an entity. of the critical aspects of foreign investments, such as the guarantees against non-commercial risk or the one that creates a center for the resolution of investment disputes.
The BITs and the other treaties where International Investment Law is established have been the product of an agreement of the will of the States, where some interested in protecting the capital of their nationals have accepted and achieved that the others, those interested in financing their development, accept rules that benefit those who have not been part of those agreements: foreign investors.
For the investor, the International Foreign Investment Law consists of a protection mechanism, not only with the inclusion of specifc protection standards against certain actions of the State, but with the inclusion of the possibility of directly demanding the Host State before international instances.
For the State, on the other hand, the International Investment Law consists of an investment promotion mechanism, where the leitmotiv has been the attraction of capitals with a view to promoting the economic development of the country.
International Commercial Arbitration is the most used means to resolve private controversies in commercial matters due to its wide scope, enforceability and speed in the resolution of disputes.
The International Commercial Arbitration and the recognition and execution of foreign judgments has a long trajectory on the part of the member countries who adopted, in 1975 and 1979, two conventions: the Inter-American Convention on International Commercial Arbitration -Convention of Panama- and the Inter-American Convention on Extraterritorial Efcacy of Sentences and Arbitral Awards -Montevideo Convention-.
International Commercial Arbitration is a topic of particular relevance for traders who provide to invest in countries with greater political stability, clear legal frameworks and consolidated markets. The presence of these conditions are key to ensure that their disputes will be resolved in accordance with the provisions contained in the arbitration clauses that have subscribed and that the judgments that derive from them are executed in national courts in accordance with accepted principles and standards. on an international level.
Several countries of the Americas have made progress in consolidating attractive environments for investment and international trade through the revision of their arbitration legislation, including issues related to the recognition of arbitration decisions. However, some continue to face challenges to establish themselves as investment-friendly markets, a situation that can be reversed, not only with the adoption of legislation that accepts international trends, but also by strengthening the agility of the judicial systems and their capacity to guarantee the correct application of the international legal norms that govern international commercial arbitration.
On August 1st. 2015, the Civil and Commercial Code of the Nation (CCCN) came into force, approved by law 26994. The CCCN introduces several important changes and novelties. One of them is the normative incorporation of the arbitration contract. Given that it is a new figure within our legal system, it is important to show how an arbitration contract works, such as its clauses, advantages and disadvantages. Necessary modifications.