MFN Standard as Substantive Treatment

The Most Favoured Nation (MFN) principle is an integral part of nearly all contemporary investment systems. MFN clauses in international investment agreements signal to investors that they are protected from discrimination by the state. However, their enforcement in practice is not always straightforward. This book comprehensively presents the functioning of MFN as a standard of international investment law. Starting from the development of the concept in international law, the author provides an overview of existing state practices in negotiating MFN clauses in bilateral and international investment treaties. Finally, the work analyzes MFN clauses for their potential to prevent discrimination and to enable the import of substantive rights in international state arbitration for investors. This work is part of the series Studies on International Investment Law, Volume 30.