In the Foreign Investment Arbitration course, students will be able to acknowledge how foreign investors are able to directly sue sovereign states before international arbitral tribunals if those States fail to protect the foreign investments. Investor-State arbitration is based on the consent of the States (even in the absence of a contract with the investor) which is mainly given in BIT – bilateral investment treaties, signed between States to promote and protect transborder investments. In those international disputes, mainly under the umbrella of the “ICSID – International Centre for the Settlement of Investment Disputes”, the arbitral tribunal will apply international law instead of the local law of the host State. The arbitral awards are binding for the States, cannot be set aside, and can only be annulled in quite a few situations, being a relevant asset for investors. The potential use of investor-State arbitration is a relevant issue when a company is considering any international investment leading to “treaty planning”. Investor-State Arbitration is currently a hot topic among the international community having its supporters and its critics but is definitively something worthwhile to be studied.