United Nations Convention on Transparency in Treaty-based Investor-State Arbitration
Date: 2024-07-02
Institutions: European Union, United Nations Organisation
Subjects: UN convention, administrative transparency, commercial arbitration, international commercial arbitration, international trade law, investment, trade dispute




L_202501219EN.000101.fmx.xml












Official Journal of the European Union


EN
L series













2025/1219


19.6.2025






United Nations Convention on Transparency in Treaty-based Investor-State Arbitration


THE PARTIES TO THIS CONVENTION,
RECOGNIZING the value of arbitration as a method of settling disputes that may arise in the context of international relations, and the extensive and wide-ranging use of arbitration for the settlement of investor-State disputes,
ALSO RECOGNIZING the need for provisions on transparency in the settlement of treaty-based investor-State disputes to take account of the public interest involved in such arbitrations,
BELIEVING that the Rules on Transparency in Treaty-based Investor-State Arbitration adopted by the United Nations Commission on International Trade Law on 11 July 2013 (‘UNCITRAL Rules on Transparency’), effective as of 1 April 2014, would contribute significantly to the establishment of a harmonized legal framework for a fair and efficient settlement of international investment disputes,
NOTING the great number of treaties providing for the protection of investments or investors already in force, and the practical importance of promoting the application of the UNCITRAL Rules on Transparency to arbitration under those already concluded investment treaties,
NOTING ALSO article 1(2) and (9) of the UNCITRAL Rules on Transparency,
HAVE AGREED AS FOLLOWS:



Article 1

Scope of application


1.   This Convention applies to arbitration between an investor and a State or a regional economic integration organization conducted on the basis of an investment treaty concluded before 1 April 2014 (‘investor-State arbitration’).


2.   The term ‘investment treaty’ means any bilateral or multilateral treaty, including any treaty commonly referred to as a free trade agreement, economic integration agreement, trade and investment framework or cooperation agreement, or bilateral investment treaty, which contains provisions on the protection of investments or investors and a right for investors to resort to arbitration against contracting parties to that investment treaty.



Article 2

Application of the UNCITRAL Rules on Transparency


1.   The UNCITRAL Rules on Transparency shall apply to any investor-State arbitration, whether or not initiated under the UNCITRAL Arbitration Rules, in which the respondent is a Party that has not made a relevant reservation under article 3(1)(a) or (b), and the claimant is of a State that is a Party that has not made a relevant reservation under article 3(1)(a).


2.   Where the UNCITRAL Rules on Transparency do not apply pursuant to paragraph 1, the UNCITRAL Rules on Transparency shall apply to an investor-State arbitration, whether or not initiated under the UNCITRAL Arbitration Rules, in which the respondent is a Party that has not made a reservation relevant to that investor-State arbitration under article 3(1), and the claimant agrees to the application of the UNCITRAL Rules on Transparency.


3.   Where the UNCITRAL Rules on Transparency apply pursuant to paragraph 1 or 2, the most recent version of those Rules as to which the respondent has not made a reservation pursuant to article 3(2) shall apply.


4.   The final sentence of article 1(7) of the UNCITRAL Rules on Transparency shall not apply to investor-State arbitrations under paragraph 1.


5.   The Parties to this Convention agree that a claimant may not invoke a most favoured nation provision to seek to apply, or avoid the application of, the UNCITRAL Rules on Transparency under this Convention.



Article 3

Reservations


1.   A Party may declare that:






(a)


It shall not apply this Convention to investor-State arbitration under a specific investment treaty, identified by title and name of the contracting parties to that investment treaty;










(b)


Article 2(1) and (2) shall not apply to investor-State arbitration conducted using a specific set of arbitration rules or procedures other than the UNCITRAL Arbitration Rules, and in which it is a respondent;










(c)


Article 2(2) shall not apply in investor-State arbitration in which it is a respondent.






2.   In the event of a revision of the UNCITRAL Rules on Transparency, a Party may, within six months of the adoption of such revision, declare that it shall not apply that revised version of the Rules.


3.   Parties may make multiple reservations in a single instrument. In such an instrument, each declaration made:






(a)


In respect of a specific investment treaty under paragraph (1)(a);










(b)


In respect of a specific set of arbitration rules or procedures under paragraph (1)(b);










(c)


Under paragraph (1)(c); or










(d)


Under paragraph (2);




shall constitute a separate reservation capable of separate withdrawal under article 4(6).


4.   No reservations are permitted except those expressly authorized in this article.



Article 4

Formulation of reservations


1.   Reservations may be made by a Party at any time, save for a reservation under article 3(2).


2.   Reservations made at the time of signature shall be subject to confirmation upon ratification, acceptance or approval. Such reservations shall take effect simultaneously with the entry into force of this Convention in respect of the Party concerned.


3.   Reservations made at the time of ratification, acceptance or approval of this Convention or accession thereto shall take effect simultaneously with the entry into force of this Convention in respect of the Party concerned.


4.   Except for a reservation made by a Party under article 3(2), which shall take effect immediately upon deposit, a reservation deposited after the entry into force of the Convention for that Party shall take effect twelve months after the date of its deposit.


5.   Reservations and their confirmations shall be deposited with the depositary.


6.   Any Party that makes a reservation under this Convention may withdraw it at any time. Such withdrawals are to be deposited with the depositary, and shall take effect upon deposit.



Article 5

Application to investor-State arbitrations

This Convention and any reservation, or withdrawal of a reservation, shall apply only to investor-State arbitrations that are commenced after the date when the Convention, reservation, or withdrawal of a reservation, enters into force or takes effect in respect of each Party concerned.


Article 6

Depositary

The Secretary-General of the United Nations is hereby designated as the depositary of this Convention.


Article 7

Signature, ratification, acceptance, approval, accession


1.   This Convention is open for signature in Port Louis, Mauritius, on 17 March 2015, and thereafter at United Nations Headquarters in New York by any (a) State; or (b) regional economic integration organization that is constituted by States and is a contracting party to an investment treaty.


2.   This Convention is subject to ratification, acceptance or approval by the signatories to this Convention.


3.   This Convention is open for accession by all States or regional economic integration organizations referred to in paragraph 1 which are not signatories as from the date it is open for signature.


4.   Instruments of ratification, acceptance, approval or accession are to be deposited with the depositary.



Article 8

Participation by regional economic integration organizations


1.   When depositing an instrument of ratification, acceptance, approval or accession, a regional economic integration organization shall inform the depositary of a specific investment treaty to which it is a contracting party, identified by title and name of the contracting parties to that investment treaty.


2.   When the number of Parties is relevant in this Convention, a regional economic integration organization does not count as a Party in addition to its member States which are Parties.



Article 9

Entry into force


1.   This Convention shall enter into force six months after the date of deposit of the third instrument of ratification, acceptance, approval or accession.


2.   When a State or a regional economic integration organization ratifies, accepts, approves or accedes to this Convention after the deposit of the third instrument of ratification, acceptance, approval or accession, this Convention enters into force in respect of that State or regional economic integration organization six months after the date of the deposit of its instrument of ratification, acceptance, approval or accession.



Article 10

Amendment


1.   Any Party may propose an amendment to the present Convention by submitting it to the Secretary-General of the United Nations. The Secretary-General shall thereupon communicate the proposed amendment to the Parties to this Convention with a request that they indicate whether they favour a conference of Parties for the purpose of considering and voting upon the proposal. In the event that within four months from the date of such communication at least one third of the Parties favour such a conference, the Secretary-General shall convene the conference under the auspices of the United Nations.


2.   The conference of Parties shall make every effort to achieve consensus on each amendment. If all efforts at consensus are exhausted and no consensus is reached, the amendment shall, as a last resort, require for its adoption a two-thirds majority vote of the Parties present and voting at the conference.


3.   An adopted amendment shall be submitted by the Secretary-General of the United Nations to all the Parties for ratification, acceptance or approval.


4.   An adopted amendment enters into force six months after the date of deposit of the third instrument of ratification, acceptance or approval. When an amendment enters into force, it shall be binding on those Parties which have expressed consent to be bound by it.


5.   When a State or a regional economic integration organization ratifies, accepts or approves an amendment that has already entered into force, the amendment enters into force in respect of that State or that regional economic integration organization six months after the date of the deposit of its instrument of ratification, acceptance or approval.


6.   Any State or regional economic integration organization which becomes a Party to the Convention after the entry into force of the amendment shall be considered as a Party to the Convention as amended.



Article 11

Denunciation of this Convention


1.   A Party may denounce this Convention at any time by means of a formal notification addressed to the depositary. The denunciation shall take effect twelve months after the notification is received by the depositary.


2.   This Convention shall continue to apply to investor-State arbitrations commenced before the denunciation takes effect.





DONE in a single original, of which the Arabic, Chinese, English, French, Russian and Spanish texts are equally authentic.
IN WITNESS WHEREOF, the undersigned plenipotentiaries, being duly authorized by their respective Governments, have signed the present Convention.




ELI: http://data.europa.eu/eli/agree/2025/1219/oj
ISSN 1977-0677 (electronic edition)