第四章 臺、韓與各國間之 BIT 徵收條款比較研究
第二節 徵收定義
國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
國的公共目的所實行的徵收，主張合乎徵收合法性條件；從外國投資者 來看，主張因地主國的徵收措施受到不利益，仲裁庭可能會判斷該措施 為不法徵收，故此地主國敗訴於仲裁判決的情形，應向外國投資者支付 龐大補償金額或賠償。上述情形在臺灣和韓國均有簽訂雙邊投資協定的 情形，兩國都可能會面臨這樣的徵收爭議。
基於前述之徵收條款問題，在臺灣和韓國之間目前尚未簽訂雙邊投資 協定，故本章將透過分別與臺灣及韓國共同簽訂雙邊投資協定之國家，
進行徵收條款之比較研究，本章首先將觀察各徵收條款之内容，其次則 彙整徵收條款之問題，最後則嘗試對未來臺灣和韓國簽訂雙邊投資協定 之徵收提出建議條款。
根據「聯合國貿易及發展會議」（UNCTAD）234，2009 年 1 月，臺灣 與 21 個國家簽訂雙邊投資協定（已生效者為 15 個國家），韓國與 87 個國家簽訂雙邊投資協定（已生效者為 75 個國家）。其中分別與臺灣 及韓國同時簽訂了雙邊投資協定的國家共有 15 個國家，分別為：亞洲 6 個國家，中南美洲 7 個國家，非洲 2 個國家。本文將以上開 15 個國家 當中之 8 個國家，即以印度、馬來西亞、泰國、越南、哥斯達黎加、薩 爾瓦多、瓜地馬拉、奈及利亞為中心，來進行雙邊投資協定之徵收條款 比較分析。235
第二節 徵收定義
234 Country List of BITs ; http://www.unctad.org/Templates/Page.asp?intItemID=2344&lang=1
235 在第四章臺、韓與各國簽訂BIT的15個國家中之7個國家被除外討論之原因，係因爲本章之比
較條款以兩個條件為中心：1、以國家間之協定為中心。臺灣和菲律賓BIT是市政府（臺北市-馬尼 拉市）間之投資協定。2、協定語言版本以英文版本為中心。巴拿馬、尼加拉瓜、多明尼加共和 國、宏都拉斯（中文、西班牙版本）、塞内加爾（中文、法文版本）之協定版本均非英文版本。
參見臺灣經濟部投資事務處，http://www.dois.moea.gov.tw/asp/relation1_1_2.asp
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(Republic of Korea)
印度
（India） 第 4 條 第 1 項
（2002）
Investments of investors of one territory in the other territory shall not be nationalized, expropriated or subjected to measures having effects equivalent to nationalization or expropriation (hereinafter referred to as “expropriation”)…
印度 第 5 條 第 1 項
（1996）
Investments of investors of one Contracting Party shall not be nationalized, expropriated or otherwise subjected to any other measures having effect equivalent to nationalization or expropriation (hereinafter referred to as "expropriation")…
馬來西亞 (Malaysia) 第 5 條
（1993）
Where any measure of expropriation is taken against the investments of investors from either relevant place,…
馬來西亞 第 5 條 第 1 項
（1989）
Investments of nationals or companies of either Contracting Party shall not be nationalised, expropriated or subjected to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as "expropriation") in the territory of the other Contracting Party… investments of an investor from either relevant place are subject, directly or indirectly, to any measure of expropriation,…
泰國 第 5 條 第 1 條
（1989）
Investment of nationals or companies of either Contracting Party shall not be subjected, directly or indirectly to any measures of nationalization or expropriation in the territory of the other Contracting Party…
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When any measure of expropriation is taken against the investments of investors under Article 2236,…
越南 第 5 條 第 1 項
（1993）
Investments of investors of either Contracting Party shall not be nationalised, expropriated or subjected to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as
"expropriation") in the territory of the other Contracting Party…
拉
Investments of investors of either Contracting Party in the territory of the other contracting party shall not be nationalized, expropriated or otherwise subjected to measures having an equivalent effect (hereinafter referred to as "expropriation")…
哥斯達黎加 第 5 條 第 1 項
（2002）
Investments of investors of one Contracting Party shall not be nationalized, expropriated or otherwise subjected to any other measures having an effect equivalent to nationalization or expropriation (hereinafter referred to as "expropriation") in the territory of the other Contracting Party…
236 臺灣-越南 BIT 第2條（1993）
1. This Agreement shall be only apply to investments in either relevant place made by investor of the other relevant place which are approved by the Contracting Party or any agency, institution, statutory body or corporation designated by it as the case may be, and upon such conditions, if any, as it shall deem fit.
2. This Article shall be apply to all investments made in the relevant places before or after the coming into force of this Agreement.
1、本協定只適用於任何一方有關地區之投資者在另一有關地區經由締約一方或其指定之任何 代理機構、機關、法定組織或公司核准制投資，並於此條件下，視情形指認為合適之投資。
2、本條款應適用於本協定生效前和生效後在有關地區之所有投資。
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Neither Party shall take any measures to deprive, directly or indirectly, an investor of the other Party of his investment…
薩爾瓦多 第 4 條 第 3 項
（2002）
Investments of investors of one Contracting Party shall not be nationalized, expropriated or otherwise subject to any other measures having effect equivalent to nationalization or expropriation (hereinafter referred to as "expropriation") in the territory of the other Contracting Party…
Investments of investor of either Contracting Party in the territory of the other Contracting Party shall not be nationalized, expropriated, or subjected to measures having an equivalent effect,…
瓜地馬拉 第 5 條 第 1 項
（2002）
Investments of investors of either Contracting Party shall not be nationalized, expropriated or subjected to measures having effect equivalent to nationalization or expropriation (hereinafter referred to as
"expropriation") in the territory of the other Contracting Party…
Investment of nationals or companies of either Contracting Party shall not be nationalized, expropriated or subjected to measures having effect equivalent to nationalization or expropriation (hereinafter referred to as "expropriation") in the territory of the other Contracting Party…
奈及利亞 第 5 條 第 1 項
（1999）
Investments of nationals or companies of either Contracting Party shall not be nationalized, expropriated or subjected to measures having effect equivalent to nationalization or expropriation (hereinafter referred to as "expropriation") in the territory of the other Contracting Party…
第二項 徵收定義之比較
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「Where any measure of expropriation is taken against the investments of investors from either relevant place,… (對任何有關地區一方投資者 所為之徵收措施) 」
（二）臺灣-越南 BIT 第 4 條（1993）「When any measure of expropriation is taken against the investments of investors under Article 2, (對於根 據第二條規定核准投資者之投資所為之任何徵 收措施…)」
(三) 臺灣-泰國 BIT 第 6 條第 1 項(1996)「 (a) In any case where investments of an investor from either relevant place are subject, directly or indirectly, to any measure of expropriation,…
( (a)若來自一有關地區投資者之投資直接或間 接受到任何徵收措施,…)」
( 四 ) 臺 灣 - 薩 爾 瓦 多 BIT 第 8 條 第 1 項
（1997）「Neither Party shall take any measures to deprive, directly or indirectly, an investor of the other Party of his investment,…（…，不得採取
（ 一 ） (1) 韓 國 - 印 度 BIT 第 5 條 第 1 項
（ 1999 ） 「 Investments of investors of one territory in the other territory shall not be nationalized, expropriated or subjected to measures having effects equivalent to nationalization or expropriation…(締約國一方領域投資人在締約 他方領域之投資，不應被締約他方領域國有 化、徵收，或受限於與國有化或徵收有相同效 果之措施，…)」
（二）韓國-泰國 BIT 第 5 條第 1 項(1989)
「Investment of nationals or companies of either Contracting Party shall not be subjected, directly or indirectly to any measures of nationalization or expropriation in the territory of the other
237 UNCTAD，Bilateral Investment Treaties 1995~2006 Trends in Investment Rulemaking，44p
‧ 國
立 政 治 大 學
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N a tio na
l C h engchi U ni ve rs it y
任 何 措 施 ， 直 接 或 間 接 徵 收 他 方 投 資 之 投 資，…） 」
(五)（1）臺灣-印度 BIT 第 4 條（2002）、
（2）臺灣-哥斯達黎加 BIT 第 5 條（2004）、
（ 3 ） 臺 灣 - 瓜 地馬拉 BIT 第 4 條 第 2 項
（2001）、（4）臺灣-奈及利亞 BIT 第 5 條
（ 1994 ） 「 Investments of investors of one territory in the other territory shall not be nationalized, expropriated or subjected to measures having effects equivalent to nationalization or expropriation…(締約國一方領域投資人在締約 他方領域之投資，不應被締約他方領域國有 化、徵收，或受限於與國有化或徵收有相同效 果之措施，…)」
Contracting Party… 」
從前述兩國徵收條款之條列說明可知，兩國間徵收條款中之徵收定 義，多數韓國雙邊投資協定之徵收定義規定為「國有化、徵收，或受限 於與國有化或徵收有相同效果之措施（be nationalized, expropriated or subjected to measures having effects equivalent to nationalization or expropriation）」，而臺灣雙邊投資協定則就徵收定義規定了多種不同類 型 。 不 過 在 前 述 的 一 些 徵 收 條 款 中 ， 臺 灣 - 馬 來 西 亞 BIT 第 5 條
（1993），臺灣-越南 BIT 第 4 條（1993）所規定的「任何徵收措施 (any measure of expropriation)」與其他徵收條款比較，相當抽象，在這 條 款 中 甚 至 連 直 接 、 間 接 徵 收 也 沒 有 提 及 。 「 任 何 徵 收 措 施 (any measure of expropriation)」的適用範圍是什麽？在保護外國投資者所投 資財產之雙邊投資協定目的上，而且最近雙邊投資協定趨勢上，這條款 也應該解釋「『任何徵收措施（any measure of expropriation）』包括
‧ 國
立 政 治 大 學
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N a tio na
l C h engchi U ni ve rs it y
『國有化、徵收，國有化或徵收相同效果之措施』」。由此可見，前述 所有條款只是類型上有所差異，但在條款文字上的含義仍然相同。
可是，在臺灣、韓國與各國簽訂的雙邊投資協定中，均沒有提及徵收 條款的具體基準、判斷標準和適用範圍是什麼，關於「國有化」、「直 接、間接徵收」 或「國有化或徵收相同效果之措施」也沒有任何說 明。由於徵收條款之判斷標準和適用範圍不明，或許將造成很多有關徵 收之判斷標準和適用範圍解釋的爭議問題。例如，外國投資者不管投資 財產之損害程度，在地主國領域内判斷投資者受到損害時，外國投資者 很可能以該協定徵收之適用範圍之廣泛解釋為理由，進而引起兩國間之 投資爭端。
第三節 徵收合法性條件
第一項 臺、韓與 8 個國家間徵收合法性條件之條文對照
簽訂國家 條款 簽訂年度
臺灣
（Taiwan）
簽訂國家 條款 簽訂年度
韓國
(Republic of Korea)
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…except for a public purpose in accordance with law on a non-discriminatory basis and against fair and equitable compensation.
2. The investor affected shall have a right, under the laws of the territory where the expropriation has been made, to review, by a judicial or other independent authority of that territory of his or its case and of the valuation of his or its investment in accordance with the principle set out in this paragraph.
印度 第 5 條 第 1、3 項
（1996）
…,except where this is done for a public purpose authorized by laws of that Contracting Party, on a non-discriminatory basis, in accordance with its laws and against compensation that is adequate, effective and paid without undue delay.
3. Investors of one Contracting Party affected by expropriation shall have a right to prompt review, by a judicial or other independent authority of the other Contracting Party, of their case and of the valuation of their investments in accordance with the principles set out in this Article.
…,such measures shall be taken for a lawful purpose, on a non-discriminatory basis and against compensation which shall be freely transferable in freely usable currencies without unreasonable delay.
馬來西亞 第 5 條 第 1 項
（1989）
…except for a public purpose, The national or company affected shall have a right, under the law of the Contracting Party making the expropriation, to prompt review, by a judicial or other independent authority of that Contracting Party, of his or its case and of the valuation of his or its investment in accordance with the principles set out in this paragraph.
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the investor concerned shall be accorded in the other relevant place fair and equitable treatment on a non-discriminatory basis in relation to any such measure. No such measure shall be taken except for public purposes and against payment of compensation.
(b) The legality of any expropriation and amount and method of payment of compensation shall be subject to review by due process of law.
泰國 第 5 條 第 1 條
（1989）
…except for public purpose related to the internal needs of that Party and against adequate
and effective compensation.,…,The national
or company affected shall have the right, to the extent permitted by the law of the Contracting Party making the expropriation, to prompt review by a judicial or other independent authority of that Party, of his or its case and of the valuation of his or its investment in accordance with the principles set forth in this paragraph.
越南 (Viet Nam)
第 4 條
（1993）
…,the measures shall be taken for a lawful purpose of the relevant place, on a non-discriminatory basis, and against compensation which shall be effectively realizable and shall be made without unreasonable delay.
越南 第 5 條 第 1-2 項
（1993）
…except for a public purpose, under due process of law, on a non-discriminatory basis and provided that it is accompanied by prompt, adequate and effective compensation.
2. The investor of one Contracting Party claiming that all or part of his investment has been expropriated shall have a right to prompt review, by a judicial or other independent authority of the other Contracting Party, of his or its case and of the valuation of his or its investment in accordance with the principles set out in paragraph (1) of this Article.
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…except in cases when any of such measures have been adopted for a for public purpose in accordance with the due process of law, on a non-discriminatory basis and against prompt, adequate and effective compensation.
3. The investors affected shall have a right, under the law of the Contracting party making the making the expropriation, to prompt review, by a judicial or other independent authority of that Party, of his or its case and of the valuation of his or its investment in accordance with the principles set out in this Article.
哥斯達黎加 第 5 條 第 1、3 項
（2002）
…except for public purpose and against prompt, adequate and effective compensation. The expropriation shall be carried out on a non-discriminatory basis in accordance with due process of law.
3. Investors of one Contracting
3. Investors of one Contracting