However, once both parties give their consent in writing, neither party can unilaterally withdraw from the process. The role of the Commission is limited to clarifying the dispute between the parties, recommending settlements, and working to resolve disputes. At the end of a proceeding, the Commission prepares a report which documents any settlement which is agreed to between the parties, or notes that the parties failed to reach agreement. Arbitration Arbitration cases are far more involved. Once the Tribunal hears the case and makes an award, the award can be appealed, and possibly upheld, revised, or annulled.
Panelists are typically distinguished experts in international trade and investment law.
Its advisory role is especially significant in the context of the MAI negotiations. Written by University of Athens Law Professor A.A. Fatouros, the article discusses the need, as well as a proposed methodology for establishing an international treaty on investment. The private sector will have internationally accepted, transparent, and predictable provisions to invest under. Given the World Bank Group's mandate to boost economic growth, its interest in supporting the MAI is clear. With neoliberal economic theory underlying its activities, the Bank Group has long worked to encourage foreign direct investment, placing faith in an unfettered marketplace as key to sustainable development.