Arbitration — Precedent — Absence of rule of precedent in general international law — Legal foundation of dispute — Lex specialis — Whether Tribunal should consider decisions and opinions of other arbitration tribunals

Interpretation — Article 25(1) of ICSID Convention — Legal dispute arising directly from investment — Definition of legal dispute — Intrinsic definition and inherent logic — Whether dealing with legal issues that manifest evident disagreement — Whether claims substantial

Interpretation — Article 25(1) of ICSID Convention — Legal dispute arising directly from investment — Interpretation of directness — Differing interpretation of “directness” under NAFTA Chapter 11 and ICSID Convention — Directness under ICSID Convention concerning relationship of dispute to investment

Interpretation — Article I(1)(b) of US–Argentina BIT — Meaning of “investor” — Whether AES Corporation proper claimant — Nationality of claimant company — Inapplicability of Article 42 of ICSID Convention to issue of nationality

Jurisdiction — Whether prior exhaustion of local negotiations or remedies precondition for ICSID jurisdiction — Application of Article VII of BIT requiring initial negotiations — Prior exhaustion of local remedies under Article 26 of ICSID Convention only a condition for consent

Admissibility — Documentary evidence — Production of expert and witness reports to evidence status and ownership of investment — Probative value of submitted material — ICSID Arbitration Rule 34

Jurisdiction — Whether forum selection clauses precluding ICSID arbitration — Waiver — Diplomatic protection — Admissibility of “Calvo Clause” waiver in ICSID arbitration