462. The fair and equitable treatment standard.

462.     The fair and equitable treatment standard.

Most bilateral investment treaties (including UK Investment Promotion and Protection Agreements or 'IPPA's1) provide that investors must at all times be accorded fair and equitable treatment in the territory of the host state2. There is considerable uncertainty as to the precise content of the fair and equitable treatment standard and there is an ongoing debate as to whether the standard accords to investors any protection beyond the minimum standard applicable as a matter of customary international law3. It has been held that the minimum standard of treatment of fair and