Part V The International Law of Foreign Investment, XXXV The International Centre for Settlement of Investment Disputes

Subject(s):

International investment law — International monetary law

This chapter presents the International Centre for Settlement of Investment Disputes (ICSID). The ICSID was established under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States of 1965 in order to provide a reliable and effective mechanism for the settlement of investment disputes between a contracting State to the Convention and a national of another contracting State through conciliation and arbitration. Over the last decade, the ICSID has become the main forum for the settlement of disputes between foreign investors and host States. There are currently 160 signatory States, with 152 States having ratified the ICSID Convention. The ICSID Convention governs the conciliation and arbitration procedures as well as the enforcement of arbitral awards.