What is the International Convention on the Settlement of Investment Disputes (ICSID)?

The International Convention on the Settlement of Investment Disputes (ICSID) is an international agreement that provides a venue for settling disputes that arise out of foreign investment. It was created by the World Bank in 1966 and is currently in force in over 150 countries, including the United States. The ICSID provides a neutral forum for the resolution of international investment disputes between states and foreign investors. It allows investors to bring their claims against governments before an independent tribunal in order to resolve the dispute. The tribunal is composed of three members, including a lawyer from the investor’s home country and a lawyer from the state in which the investment was made. Each country must choose one of the same members for the tribunal. ICSID also provides an arbitration procedure, which is a process in which parties can choose an independent arbitrator to resolve their dispute. This is often a quicker process than bringing a claim before a tribunal. The ICSID has become an important source of international investment law and is often used to resolve high-stakes disputes. In Colorado, for example, the ICSID’s arbitration procedure was used to resolve a dispute between the government of Peru and an American investor. Overall, the International Convention on the Settlement of Investment Disputes (ICSID) is an important agreement that provides investors with a venue for resolving their disputes. It has become an integral part of international investment law and is utilized in many cases, including those involving Colorado.

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What is the International Convention on the Settlement of Investment Disputes (ICSID)?

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