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 ?
Egypt was fined $300m during a land dispute tried at the International Centre for the Settlement of Investment Disputes of the World Bank.
In May 2012, Vattenfall filed a request for international arbitration against Germany at the International Centre for the Settlement of Investment Disputes (ICSID, created under the auspices of the World Bank).
Damac Properties is going to arbitration at the Washington-based International Centre for the Settlement of Investment Disputes (ICSID) over the $40.5 million of fines imposed for allegedly acquiring property at below market price.
After listening to the parties at the World Bank building in Paris, International Centre for the Settlement of Investment Disputes (ICSID) will make a decision on whether or not to hear the case "on merits".
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