Investment treaties generally contain a dispute resolution provision for the resolution of disputes between an investor and a host government in relation to certain alleged violations of an applicable treaty. These investment treaties also provide for the steps/mechanism to trigger a potential investor-state arbitration against a host government. It imperative to take strategic advice on the pre-requirements to any arbitration, such related cool-off requirements before a dispute may be initiated under an applicable treaty. Investors must also carefully consider and assess a) the potential impact of litigation before state courts on future investor-state arbitrations and b) the nature and extent of the consent by the state to an investor-state arbitration.