International Center for settlement of investment disputes
The ICSID Convention is a treaty ratified by 155 Contracting States. It entered into force on October 14, 1966, 30 days after ratification by the first 20 States. Article 6 of the ICSID Convention requires the Administrative Council of ICSID to adopt rules of procedure for arbitration and conciliation and for the administrative and financial regulation of the Centre.
Official website: https://icsid.worldbank.org/resources/rules-and-regulations/convention/overview
- creates the ICSID Administrative Council, Secretariat, Panels of Arbitrators and of Conciliators, and the status, immunities and privileges of the Centre (Chapter I);
- establishes ICSID’s jurisdiction (Chapter II);
- authorizes conciliation (Chapter III);
- authorizes arbitration (Chapter IV);
- addresses replacement and disqualification of conciliators and arbitrators (Chapter V);
- discusses the cost of proceedings (Chapter VI);
- deals with the place of proceedings (Chapter VII);
- provides for disputes between Contracting States (Chapter (VIII);
- provides for an amendment procedure (Chapter IX); and
- includes final provisions such as the processes for signature, ratification, and denunciation of the Convention (Chapter X).
ICSID also makes the Convention available in other languages. While not official translations, these may be helpful to parties.
The records of the drafters of the ICSID Convention are compiled in the History of the ICSID Convention, vols. I-V.