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

The International Convention on the Settlement of Investment Disputes (ICSID) is a multilateral treaty that provides an international arbitration framework for resolving international business disputes between states and private foreign investors. It was opened for signature in 1965 and is administered by the World Bank Group. ICSID is the leading forum for resolving international investment disputes, covering foreign investment treaties, bilateral investment treaties, and most recently, investment-related disputes related to the World Trade Organization. Under the ICSID system, disputes between a foreign investor and a host state can be brought to a tribunal where the parties can present a unified statement of claims and evidence, including materials and witnesses. The tribunal is expected to make a binding decision within six to nine months. ICSID tribunals have wide powers, including the ability to award financial compensation which is legally enforceable in most jurisdictions. In New Hampshire, the ICSID could be especially important given the state’s business-friendly environment. It provides investors with an independent, international means of resolution that is almost always more cost-effective and quicker than bringing their cases to national courts. For the state, it also means that foreign investors who believe that their investment has been harmed by the specific action of the New Hampshire government can bring their claim to ICSID arbitration, rather than having to litigate their dispute in domestic courts.

Related FAQs

What is the International Law of the Sea?
What is the International Convention on the Prevention and Punishment of the Crime of Genocide (CG)?
What is the difference between diplomatic immunity and extraterritoriality?
What is the International Court of Justice (ICJ)?
What is the role of the United Nations in international law?
What is the International Convention for the Suppression of the Financing of Terrorism (FTT)?
What is the International Convention on the Protection of the Rights of All Persons under Any Form of Detention or Imprisonment (CPED)?
What are the international regulations on intellectual property rights?
What are the international standards of human rights?
What is the International Criminal Tribunal for the former Yugoslavia (ICTY)?

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

Related FAQs

Related Blog Posts