The book examines the conception of legitimate expectations in international investment law under the fair and equitable treatment. The author examines the purpose, content and elements of legitimate expectations. He also analyses the case law to identify and explain the protection granted to expectations of foreign investors under investment treaties. To this end, the book distinguishes the core elements of legitimate expectations, with particular attention being given both to the conduct of the host State and legitimacy of expectations, and provides a detailed analysis of these issues to consider whether good faith forms the basis for the protection of legitimate expectations.

Combining a jurisprudential analysis of the case law arising in international tribunals with a dogmatic and scholar approach, this book offers a thought-provoking study of the protection of legitimate expectations, for students and practitioners alike.

This book was prepared by the author in his personal capacity. The opinions expressed in the book are the author’s own and do not reflect the view of any other person or entity.

Marcin Kałduński is Professor of International Law at the Nicolaus Copernicus University (Toruń, Poland) and Counsel at the General Counsel to the Republic of Poland. He teaches international law and acts as counsel in investment arbitration.