About interpretation of international investment treaties this book offers a systematic study of the interpretation of investment related treaties primarily bilateral investment treaties the energy charter treaty chapter xi nafta as well as relevant parts of free trade agreements. The importance of interpretation in international law cannot be overstated and indeed most treaty claims adjudicated before investment arbitral tribunals have raised and continue to raise crucial and often complex issues of interpretation the interpretation of investment treaties is governed by the vienna convention on the law of treaties . One of the recurrent controversial issues in the investment arbitration practice relates to the application of the general rule of treaty interpretation of the vienna convention on the law of treaties in the interpretation of the provisions of the icsid convention and of investment treaties in general thomas walde in one of his last writings. The interpretation of investment treaties is governed by the vienna convention on the law of treaties vclt the disputes relating to these treaties however are rather peculiar as they place multinational companies or natural person in opposition to sovereign governments. 4 state control over interpretation of investment treaties 2 understanding8 12 subsequent practice art 31 subsequent practice under vclt article 313b may be defined as conduct in the application of a treaty after its conclusion which establishes the agreement of the parties regarding the interpretation of the treaty
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