Most investor-state disputes arise out of investment treaties, and not contracts. Investor-state arbitration practices are based on rules and procedures of commercial arbitration. This inter-party model of dispute resolution is generally preferred by parties to an investment agreement, which makes tribunals overlook some of the broader public policy considerations to the disputes. The public character of the disputes due to a state’s involvement and the relation of the procedures to commercial arbitration leads to tension between the two, and the emergence of non-investment considerations