Vol. 3, Issue 7, Part K (2017)

Abstract
As the recent case laws shows, the fair and equitable treatment standard (FET) represents potentially the most important and most baffling obligation which is imposed on sates by international investment treaties. The standard has also been the subject of controversy, most importantly in relation to whether it reflects the customary law minimum standard of treatment of aliens or a higher level of protection. The determination of what is fair and equitable and who’s fair and equitable leaves a large measure of discretion to arbitral tribunal which has used it to gradually build the content of the standard by applying it to the circumstances of specific cases. Thus, in this article the author aims to explain the growth of FET which has been constantly shaped in order to respond to the needs of actor engaged in aiming investment relationship. The recent history of the standard and the wide interpretation of doctrine works on the subject convinced me to discuss FET by going directly to its resources which concerned to the case law.