It is well settled that there is no rule of precedent in investment arbitration and arbitrators are not bound by decisions rendered by previous tribunals. Nevertheless, investment arbitration practice shows that previous decisions are often observed and followed. Disputing parties and arbitrators devote significant attention to previous decisions and on several occasions arbitral tribunals rely…

Stare decisis is Latin for “to stand by things decided”. This is also a doctrine which is frequently used by courts which decides to abide by a point of law which was previously held by a court of equal or superior judicial hierarchy. The system of stare decisis purports to promote stability, certainty, reliability, uniformity,…