For various reasons–including fairness, efficiency, and
avoiding inconsistent results–courts and arbitration
tribunals apply a range of procedural tools to discourage parties
from pursuing multiple, separate dispute resolution proceedings
between the same parties over related claims arising from a single
dispute. In cases involving foreign investment within the coverage
of an investment treaty, such as a bilateral investment treaty
(BIT) or free trade agreement, however, the investing party may
have compelling reasons to simultaneously pursue commercial
arbitration pursuant to contract, and investment arbitration
pursuant to treaty. And unlike other situations where courts and
tribunals may look askance at parallel proceedings, the presence of
an otherwise exclusive arbitration clause in a contract between a
foreign investor and a host state may not, by itself, preclude an
injured investor from pursuing both commercial arbitration as
provided in the contract and
