4/15/12

The International centre for The Settlement of Investment Disputes Click to edit Master subtitle style (ICSID)

The ICSID devised by The world Bank. In 1964 the executive Directors of the Bank were asked to draft a convention Establishing and procedures which would be availableon voluntary basis for the settlement of investment disputes between contracting states and nationals of other contracting states through conciliation and arbitration. ICSID was intended to strengthen the 4/15/12 partnership between countries in the

THE ICSID FRAMEWORK

ICSID is not itself a tribunal but rather aframe work within which arbitration and conciliation can occur. ICSID has administrative council chaired by the President of the world bank, in which each member state has one vote Administrative council has responsible for the adoption of the rules of procedure for conciliation and arbitration procedings and supervising the 4/15/12 operation of ICSID

yurisdiction

Art 25, ICSID, the yurisdiction of the centre shall extend to any legal disputes arising directly of an investment between contracting state and national of another contracting state, which the parties to the disputes consent in writing to submit to the centre. When the parties given their consent, no party may withdraw its consent unilaterally
4/15/12

Submission to ICSID yurisdiction

Ratification Written consent

4/15/12

The ICSID procedure

Request to Secretary general for conciliation or arbitration.

4/15/12

Enforcement of ICSID awards

The ICSID obliges each contracting state to recognise and enforce

4/15/12