Listen "Dispute Settlement"
Episode Synopsis
The hosts examine international dispute resolution mechanisms, focusing on the World Trade Organization's Dispute Settlement Understanding (DSU) and the International Centre for Settlement of Investment Disputes (ICSID). The DSU outlines procedures for resolving trade disputes between member states, emphasizing consultation and panel processes. Conversely, the ICSID materials explain its role in settling investment disputes between states and foreign investors, highlighting its importance for attracting foreign direct investment and economic development, while also exploring jurisdictional and procedural complexities within the system through hypothetical case studies. The third segment explores various conflict resolution theories and their application to societal and political conflicts, particularly in Nigeria, offering a comparative lens to the more legally-focused materials. The final segment details the specifics of arbitration as a dispute resolution method, covering its advantages over litigation, different types of arbitration (institutional vs. ad hoc), and the role of national courts.
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