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The Legal Status of Stabilization Clauses Under International Law: The Traditional Debate Revisited

  • Jola Gjuzi
Chapter

Abstract

The question about the legal validity and effect of stabilization clauses is raised also where, in addition or in the alternative to national law, international law applies to the investment contract containing a stabilization clause. Given that traditionally international law was not by default applicable to investment contracts, two main ways have been utilized to overcome this issue and make such a law applicable to investment contracts and to the stabilization clause contained therein: the internationalization theory and treaty law. This Chapter focuses on the theory of internationalization of investment contracts. It addresses how and to what extent substantial principles of international law have been used in the efforts to affirm or reject the validity of stabilization clauses, or even to limit their applicability in view of the host state’s sovereign power to regulate in the public interest.

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Authors and Affiliations

  • Jola Gjuzi
    • 1
  1. 1.Kalo & Associates Law FirmTiranaAlbania

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