Full denomination
EAPIL Working Group on the Private International Law Aspects of the Draft UNIDROIT/ICC Principles and Model Clauses for International Investment Contracts
A. The Public Consultation
The UNIDROIT/ICC Principles and Model Clauses for International Investment Contracts are intended to provide balanced, non-binding guidance for the drafting and interpretation of international investment contracts concluded between States and private investors. They reflect internationally accepted best practices and seek to promote legal certainty, fairness, and long-term cooperation between the contracting parties. The Principles address key issues such as contract formation, stabilization, renegotiation, force majeure, hardship, dispute resolution, and the effects of changes in law. The accompanying Model Clauses offer practical drafting solutions that can be adapted to the specific needs of individual investment projects. Overall, the project aims to reduce disputes, improve the quality of investment contracts, and foster sustainable cross-border investment.
On 29 June 2026, UNIDROIT launched a public consultation on the current draft version of the instrument. The purpose of the consultation is to raise awareness of the project, encourage participation by public and private stakeholders during the final stage of its development, and invite comments on whether the draft adequately addresses the legal issues arising in the context of international investment contracting. The consultation also seeks to ensure that the instrument is suitable for application across different legal and economic contexts and provides a balanced framework for both States and investors. The consultation was open until 15 September 2026.
B. Composition and Objectives of the Working Group
Following an invitation from the EAPIL Board, a Working Group was established to prepare, on behalf of the Association, comments on the private international law aspects of the draft instrument.
The Working Group consists of:
- Olaf Meyer, Frankfurt University of Applied Sciences (Coordinator)
- Albert Henke, Università degli Studi di Milano Statale
- Fahira Brodlija, International University of Sarajevo
- Can Eken, Durham University
The Working Group has already held its inaugural meeting. Also participating was Rocco Palma, Senior Legal Officer at UNIDROIT, who is leading the preparation of the Draft Principles. Mr Palma has kindly agreed to remain available to the Working Group throughout the drafting process.
The Working Group focuses primarily on Chapter 8 of the Draft Principles (Choice of Law and Dispute Settlement). The Position Paper addresses, inter alia, the following issues:
- the principle of party autonomy;
- the two model choice-of-law clauses;
- overriding mandatory rules;
- the practical effectiveness of key investment law mechanisms, including stabilization clauses, the system of remedies, hardship, and force majeure;
- procedural issues, including waivers and counterclaims; and
- lessons to be drawn from the successful application of the UNIDROIT Principles of International Commercial Contracts for the interpretation and application of the draft instrument.
The Position Paper, submitted by the Working Group in response to the public consultation, is available here.
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