International Centre for Settlement of Investment Disputes

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International Centre for Settlement of Investment Disputes

Also called ICSID. An organization under the World Bank Group that serves as an arbitration board for disputes involving investment treaties. That is, when member countries disagree on the interpretation of an investment treaty applying to both of them, they may refer the matter to ICSID. More than 150 countries belong to ICSID. It was established in 1966 and is based in Washington, D.C.
References in periodicals archive ?
The International Convention for the Settlement of Investment Disputes (ICSID), the arbitration arm of the World Bank, was established by the signing of the ICSID Convention (19) in 1966.
See DlMSEY, supra note 11, at 211 (noting that because the ICSID Convention is based "in public international law, changes can only be implemented with great difficulty").
30) See ICSID Convention, supra note 12, article 53(1) which provides:
In this decision, the tribunal ruled that it is satisfied pursuant to Article 25(1) of the ICSID Convention that it has prima facie jurisdiction, and has ordered the immediate release of Karadeniz Power ship Kaya Bey (Karkey's largest Powership and one of four Karkey vessels that has been illegally detained in Pakistani waters since April, 2012).
See ICSID Convention, supra note 27 (noting that provisions of the "Convention on the Settlement of Investment Disputes Between States and Nationals of Other States--International Centre for Settlement of Investment Disputes" will apply); New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, June 10, 1958, 330 U.
M theses assesses the ability of the Chilean legal framework and mining companies to adopt carbon capture and storage standards, and the legal consequences of a denunciation of the ICSID Convention on Latin American countries?
Bolivia, Ecuador, and Venezuela have all denounced the ICSID Convention in recent years.
See supra notes 43-45 and accompanying text (finding sovereign immunity may bar some arbitration awards); supra note 68 and accompanying text (predicting difficulty with arbitration in Venezuela); supra notes 54-55 and accompanying text (indicating Russia's failure to ratify The ICSID Convention potentially problematic for FDI arbitration with Russia).
The ICSID uses a set of arbitral rules contained in the ICSID Convention and, if appropriate, applies international law.
248) Note that, as the ICSID Convention does not contain a MFN clause, this issue will not occur in the context of SOE standing under the Convention.
With succinct article-by-article commentary the following instruments are covered: New York Convention, ICSID Convention, UNCITRAL Arbitration Rules, ICC Rules of Arbitration, LCIA Arbitration Rules, AAA-ICDR International Arbitration Rules, CIETAC Arbitration Rules, UNCITRAL Model Law, Arbitration Law of the People's Republic of China, English Arbitration Act, French Code of Civil Procedure, and Swiss Private International Law Act.
these activities and the economic value associated therewith qualify as an investment within the meaning of the BIT and the ICSID Convention.