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Possible Improvements of the Framework for Icsid Arbitration

By Parra, Antonio R.

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Book Id: WPLBN0000040037
Format Type: PDF eBook
File Size: 0.3 MB
Reproduction Date: 2005
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Title: Possible Improvements of the Framework for Icsid Arbitration  
Author: Parra, Antonio R.
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Publication Date:
Publisher: The World Bank


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Parra, A. R. (n.d.). Possible Improvements of the Framework for Icsid Arbitration. Retrieved from


I. Introduction: 1. The International Centre for Settlement of Investment Disputes (ICSID or the Centre) is established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention or Convention).1 This is a multilateral treaty that was opened for signature in 1965 and came into force the following year. To date, 140 countries have ratified the Convention to become Contracting States.2 The Convention provides a system, administered by ICSID, for the conciliation and arbitration of investment disputes between Contracting States and nationals of other Contracting States. ICSID itself has a governing body, the Administrative Council, which is composed of one representative of each Contracting State, and a Secretariat, headed by a Secretary-General, responsible for the day-to-day activities of the Centre. -- 2. The provisions of the Convention are supplemented by various ICSID Regulations and Rules. These include the ICSID Arbitration Rules, which set forth procedures for the conduct of an arbitration proceeding, from the constitution of the arbitral tribunal to the preparation of its award. ICSID also has a set of Additional Facility Rules. They authorize the Secretariat of ICSID to administer, among other types of proceedings between States and foreign nationals that fall outside the scope of the ICSID Convention, arbitration proceedings for the settlement of investment disputes where either the State party to the dispute or the home State of the foreign national is not a Contracting State of the Convention. Such proceedings are conducted in accordance with the Additional Facility Arbitration Rules.


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