HasanuddinLawReview
Volume 6 Issue 1, April 2020
P-ISSN: 2442-9880, E-ISSN: 2442-9899
Nationally Accredited Journal, Decree No. 32a/E/KPT/2017.
This work is licensed under a Creative Commons Attribution 4.0 International License.
25
Much in Little: The Umbrella Clause that Changes the
International Investment Protection Standard
Kartika Paramita
International Business Law Program, Universitas Prasetiya Mulya, Indonesia.
E-mail: kartika.paramita@pmbs.ac.id
ARTICLE INFO ABSTRACT
Keywords:
Bilateral Investment
Treaty; ICSID;
Investment;
Umbrella Clause
How to cite:
Paramita, K. (2020). Much
in Little: The Umbrella
Clause that Changes the
International Investment
Protection Standard.
Hasanuddin Law Review,
6 (1): 25-45
DOI:
10.20956/halrev.v6i1.1570
The umbrella clause of a Bilateral Investment Treaty (BIT)
establishes an obligation for the State parties to respect all
commitments entered into by an investment contract between an
investor and the host country. It extends the jurisdiction of a BIT
forum to the breach-of-contracts matters and changes the nature of a
private issue to an international affair. The polemic over the clause's
interpretation has become a controversial issue over the years. It
comes as a backlash for the Contracting States as a foreign investor
could quickly bring an investment problem to an international
forum. After more than a decade since its first discussion in the case
of SGS v Pakistan, the clause grows to be one of the reasons for many
countries to leave or reform their BIT model and changes the trend of
international investment protection standard. This article addresses
the different episodes of the umbrella clause alongside over the past
decade. It projects the debate over the clause’s scope, its development,
the governments' action, and their perception over it, and finally,
how it changes the standard of investment protection in international
treaties.
Copyright © 2020 HALREV. All rights reserved.
1. Introduction
In 2003, Société Générale de Surveillance S.A (SGS) a company headquartered in
Geneva filed a claim against the Islamic Republic of Pakistan before the arbitration
tribunal of International Centre for Settlement of Investment Disputes (ICSID). The
claim was based on a violation of an agreement made between both of the parties,
which SGS claimed had elevated to a breach of bilateral investment protection