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Abstract

One form of the impacts of economic globalization is the growing investment internationally. This is indicated by the increasing number of international agreements such as free trade agreements, multilateral investment agreements, bilateral investment agreements, and so on. Due to the developing of investments globally, a mechanism on international investment dispute resolution is certainly needed, but because of there is no international treaty on investment dispute settlement, then there is also no international investment court. So procedurally, the arbitration tribunals follow the established arbitration rules. Investor-State Dispute Settlement (ISDS) is a treaty-based dispute resolution mechanism that found in many international investment agreements. The provisions of ISDS are contained in many types of international agreements including Free Trade Agreements (FTA), Bilateral Investment Treaties (BITs), Multilateral Investment Agreements, investment contracts and national investment laws. ISDS is one of the dispute resolution mechanisms in Foreign Direct Investment (FDI). The ISDS was formed with the aim of protecting the interests of foreign investors who are investing in the host states, so that it will attract more investors to invest in other countries. In the ISDS mechanism, an investor can sue the host state to an arbitration if they feel disadvantaged by the host state. But it seems that the ISDS mechanism is still considered to have many shortcomings, so the European Union then proposed the establishment of a new dispute resolution system, the Investment Court System (ICS). This new system is considered to be able to provide solutions to overcome the shortcomings of the ISDS mechanism. This paper will discuss about the ICS, which is considered to be a new alternative to the ISDS.

Bahasa Abstract

Salah satu bentuk akibat terjadinya globalisasi ekonomi adalah semakin berkembangnya investasi secara internasional. Hal ini ditandai dengan semakin banyaknya perjanjian- perjanjian internasional seperti perjanjian perdagangan bebas, perjanjian investasi multilateral, perjanjian investasi bilateral, dan sebagainya. Semakin berkembangnya investasi secara global, maka mekanisme penyelesaian sengketa investasi internasional yang juga sangat dibutuhkan, tapi karena tidak ada perjanjian internasional yang mengatur secara spesifik mengenai penyelesaian sengketa investasi, dan juga tidak ada pengadilan investasi internasional, maka secara prosedural, badan pengadilan arbitrase mengikuti aturan arbitrase yang telah ditetapkan. Penyelesaian Sengketa Investor-Negara (ISDS) merupakan sebuah mekanisme penyelesaian sengketa yang berdasarkan pada perjanjian, yang ditemukan dalam perjanjian investasi internasional. Ketentuan ISDS ini terdapat dalam banyak perjanjian internasional, seperti perjanjian perdagangan bebas, perjanjian investasi bilateral, perjanjian investasi multilateral, kontrak investasi dan peraturan investasi nasional. ISDS merupakan salah satu mekanisme penyelesaian sengketa pada penanaman modal langsung (FDI). ISDS ini dibentuk dengan tujuan untuk melindungi kepentingan investor asing yang melakukan investasi di negara penerima sehingga akan menarik minat para investor untuk menanamkan modalnya di negara lain. Dalam mekanisme ISDS, investor dapat menggugat negara penerima investasi (host state) ke arbitrase apabila ia merasa dirugikan. Tapi tampaknya penyelesaian ISDS dianggap masih memiliki banyak kekurangan, sehingga Uni Eropa kemudian mencetuskan pembentukan sistem penyelesaian sengketa yang baru yaitu Sistem Pengadilan Investasi atau Investment Court System (ICS). Sistem baru ini dianggap dapat memberikan solusi dalam mengatasi kekurangan sistem penyelesaian sengketa investasi ISDS. Dalam penulisan ini akan membahas mengenai (ICS) yang dianggap dapat menjadi sebuah alternatif baru dalam penyelesaian sengketa investor-negara (ISDS).

Kata kunci: Sistem Pengadilan Investasi, Arbitrase, ISDS, Penyelesaian Sengketa, ICS

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