Mr Seppälä’s enlightening submission takes us on a walkthrough of the claims and dispute resolution procedure under FIDIC contracts, with an extensive analysis of the common issues relating to their interpretation in the context of recent ICC awards. He then moves on to provide a critical look at the DAB procedure and answers common concerns related to its function and enforcement, such as the validity of a constitution after time limits have expired, the meaning of particular phrases as used in the FIDIC books, and the consequences of parties failing to comply with the procedure. Finally, Mr Seppälä takes us through the post-DAB but pre-arbitral phase, highlighting the important procedural aspects relating to the interpretation of “notice” and “disputes”. Consistent throughout the article are numerous publications of ICC awards extracts which Mr Seppälä draws on and commends as he casts light on previously vague and shadowy areas. Much gratitude is extended to Virginia Hamilton, the Publications Manager at the ICC, for allowing us to publish this article that was originally published in the July edition of the 2015 ICC Dispute Resolution Bulletin.

James Pickavance, Partner, Eversheds International UK and Greg Falkof, Senior Associate, Eversheds International, Paris, provide an immensely valuable guide to ensuring an international construction project attracts the protections of bilateral and multilateral investment treaties. The authors first consider the various protections that these treaties offer, such as fair and equitable treatment, before turning to the bulk of their work: what investments are covered. They caution that not everything which appears to be an investment at face value is necessarily protected. Rather, they explain that the situation turns on the definitions of the words “investor” and “investment” in the relevant treaty. For example, to be a qualifying “investor” could simply require incorporation in a particular country, or alternatively, could require a real economic connection to that country. The paper then focuses on what qualifies as an “investment”. Whilst noting that the definition of “investment” is typically broad and would likely cover the ordinary investment in construction, the authors examine an important