A. THE FACTUAL BACKGROUND OF DEVELOPMENT AGREEMENTS
Development agreements play diverse roles in the international economy, and have…
(a) International elements in fact : Development agreements contain numerous international elements either in the nature of their activities or in the provisions of the agreements. They involve a state and at least one state - owned or private foreign entity of differing nationality. In the whole process, from allocation and production to distribution, there can be many different nationalities involved, all working for the fulfilment of these agreements. Any major interruption in performance of these agreements may have significant effects on the future plans of many participants of varying nationalities…
(b) The international character of development agreements recognized by parties in the agreement : The…
Parties generally put an arbitration clause in order to resolve disputes in an international…
The parties usually choose the applicable principles of international law or refer…
(c) International character recognized by authoritative decisions : The majority of authoritative decisions have recognized the international character of development agreements. In the Sapphire case, the tribunal held that these classes of agreements are «fundamentally different from the usual commercial contract envisaged by the traditional rules of private international law»…
Authoritative decisions have also confirmed the international character of development…
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