LA FUNCIONALIDAD DE LA CLÁUSULA PARAGUAS EN EL DERECHO DE INVERSIONES INTERNACIONAL

Abstract

Investment Law develops the concept of the umbrella clause as a mechanism for the protection of the contractual rights of foreign investors and the States that adopt the investment, however, there are still no established parameters on its sphere of protection and application. Despite the fact that the application of this type of clause arises from the controversy for breach of contract, such dispute could be resolved by the domestic law of the host State, but the legal nature of the umbrella clause allows the resolution of disputes to be elevated to international jurisdiction, resulting in the integration of legal systems. In this degree work we will study the origin, history and purpose of umbrella clauses within International Investment Law, all this to understand the functionality of umbrella clauses with respect to the competence of international courts to resolve contractual breaches through the study of international jurisprudence.