Seventh Session of the Working Group on International Investment Contracts

The seventh session of the Working Group on International Investment Contracts was held at the seat of UNIDROIT in Rome from 27 to 29 October 2025. The session was attended by 30 participants, both in person and online.

Co-chaired by Professor Maria Chiara Malaguti and Eduardo Silva Romero, the Working Group is developing a set of Principles, commentary and model clauses aimed at fostering the modernisation and standardisation of international investment contracts, building upon the UNIDROIT Principles of International Commercial Contracts (UPICC). The project is conducted by UNIDROIT in partnership with the Institute of World Business Law of the International Chamber of Commerce (ICC).

During its seventh session, the Working Group discussed draft Chapters 1 to 5 of the future instrument, covering (i) general provisions (e.g., scope and purpose of the instrument); (ii) general principles applicable to international investment contracts (e.g., sustainable investment and regulatory freedom); (iii) formation (e.g., legal capacity and freedom to negotiate); (iv) validity of contracts; and (v) rights and obligations of the investor and the State counterparty. The Working Group also reviewed updated draft guidance on choice of law and stabilisation/renegotiation clauses.

In addition, the Working Group considered feedback on the draft instrument provided by the Consultative Committee, composed of experts nominated by twenty seven  UNIDROIT Member States and eight non-Member States with significant investment relations.

Sections of the future instrument that were not considered during this session will be discussed during a virtual meeting of the Working Group in November 2025. The next in-person meeting is scheduled to take place from 19 to 21 January 2026.

For further information on the UNIDROIT Project on International Investment Contracts, please visit the dedicated webpage: https://www.unidroit.org/work-in-progress/investment-contracts-upicc/.

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