ICSID arbitration—introduction and procedure
ICSID arbitration—introduction and procedure

The following Arbitration guidance note provides comprehensive and up to date legal information covering:

  • ICSID arbitration—introduction and procedure
  • What is ICSID?
  • Consent to ICSID arbitration
  • Procedural rules—the sources
  • Language of proceedings
  • Seat of arbitration
  • Prior to commencing arbitration
  • Procedure for commencing arbitration
  • Constitution of the tribunal
  • Conduct of the arbitration
  • more

This Practice Note provides an introduction to the International Centre for Settlement of Investment Disputes (ICSID) and considers the procedure of an ICSID arbitration.

ICSID is, currently, undertaking a review of its rules and regulations and has proposed amendments (see below for further information). We will be reviewing the proposals closely and keeping our content under review as required.

Guidance on investment treaty arbitration generally can also be found in our subtopic: Investment treaty arbitration—overview. Although we provide links to some News Analysis and other news items in this Practice Note, more of this content is available in the News pod of the ICSID arbitration and Investment treaty arbitration subtopics.

What is ICSID?

ICSID is one of the organisations most commonly designated in bilateral (BIT) and multilateral (MIT) treaties to administer the resolution of investment disputes. It is one of the five organisations that form the World Bank Group and is constituted under the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States 1965 (ICSID Convention). The Preamble to the ICSID Convention underscores its purpose—to encourage international investment by providing a neutral forum for the resolution of disputes between investors and states.

ICSID is based at the World Bank headquarters in Washington DC, USA, and the ICSID Convention is often referred to as the Washington Convention. There