What is a bit claim?

A BIT, or Bilateral Investment Treaty, is a legally binding agreement between two states that aims to facilitate and safeguard investments made by nationals of each state within the territory of the other. This type of treaty serves as a framework for the treatment of investments across borders.

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The primary purpose of a BIT is to encourage the flow of capital from one country to another by offering predictability and protection to investors. It sets out the rights and obligations of both the host state and the investor's home state regarding investments made within the host state's territory.

BITs are often negotiated between nations that differ in their economic status, typically between capital-exporting countries and capital-importing countries. These agreements are part of broader trade negotiations that aim to enhance economic relations and cooperation between the parties.

One of the key benefits of a BIT is that it provides investors with a set of minimum standards of treatment, which the host state must adhere to. This includes fair and equitable treatment, non-discrimination, and protection against expropriation without just compensation.