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The Uses and Advantages of Side Letters in the Investment Chapters in Preferential Trade Agreements
Journal of International Dispute Settlement  (IF0.938),  Pub Date : 2021-01-04, DOI: 10.1093/jnlids/idaa024
Park T.

This article analyses the utility and advantages of employing side letters in the investment chapter in Preferential Trade Agreements (PTAs). Even thoughparties to a PTA often use side letters, particularly in relation to the investment chapter, the literature has paid little attention to their utility and advantages. This article develops a typology based on the three functions of the side letter (ie clarification, correction, and consensus on a new term) and explains the detailed letter exchange procedure of the letter exchange. It then discusses the three advantages (ie cost efficiency, flexibility, and transparency) of using side letter.