475. International Centre for Settlement of Investment Disputes.

The Washington Convention on the Settlement of Investment Disputes between States and Nationals of Other States1 established the International Centre for Settlement of Investment Disputes ('ICSID') for the purpose of providing for conciliation and arbitration of investment disputes between Contracting States and nationals of other Contracting States in accordance with the provisions of the Convention2. The ICSID has an Administrative Council and a Secretariat as its permanent organs, and is located at the World Bank headquarters in Washington DC3.

ICSID jurisdiction is limited to disputes arising 'directly out of an investment' between a contracting state and a national of another