What is the International Centre for settlement of Investment Disputes Convention?
The Convention’s text was adopted by the IBRD’s Executive Directors on 18 March 1965. It entered into force on 14 October 1966. It created the International Centre for Settlement of Investment Disputes (ICSID). This is why the Convention is commonly referred to as the ICSID Convention.
What is investor-state dispute settlement?
Investor-State dispute settlement (ISDS) is a form of resolution of disputes between foreign investors and the State that hosts their investment. ISDS allows foreign investors to initiate dispute settlement proceedings against a host State. Both the foreign investor and the host State must consent to ISDS before a proceeding may commence.
Is ICSID's jurisdiction limited to disputes arising directly out of an investment?
(ii) To the extent that Article 8 (1) requires a "relation" between the dispute and the investment, it would appear to implement the requirement of Article 25 (1) ICSID Convention that only disputes arising "directly out of an investment" is subject to ICSID’s jurisdiction.
How many countries have ratified the ICSID Convention?
As of June 30, 2014, ICSID had 159 signatory States, and 150 Contracting States dha ratified the Convention. The primary purpose of ICSID is to provide facilities and services to supportconciliation and arbitration of international investment disputes.
ICSID CONVENTION REGULATIONS AND RULES