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 seeks to provide an effective and speedy means of resolving disputes between foreign investors and host countries. It was concluded in 1965 by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States and often referred to as the Washington Convention. ICSID is part of the World Bank and is headquartered in Washington, DC. The purpose of ICSID is to create an independent forum for the resolution of investment disputes and to establish uniform procedures for the settlement of such disputes. It provides a mechanism for foreign investors to bring claims directly against states, when their investments are in jeopardy. The Convention also creates a system of rules for arbitration of disputes, which ensures that disputes are handled quickly and impartially by qualified arbitrators. ICSID is an important tool for businesses in Indiana and around the world that conduct international investments. It seeks to protect foreign investors from expropriation, discrimination, and unfair or inequitable treatment, as well as to provide a mechanism for the prompt and efficient settlement of investment disputes. The Convention facilitates the settlement of investment disputes and offers a system that is more efficient and less costly than domestic litigation. This helps to create a favorable environment for foreign investment by providing a reliable mechanism to resolve investment disputes.

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

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