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 signed in 1965, which enables companies and individuals to resolve investment disputes through arbitration or conciliation. Under the Convention, states must recognize and enforce the awards that come from arbitration or conciliation. North Carolina is a party to the Convention, in accordance with the 1993 Federal Arbitration Act. The aim of the Convention is to protect foreign investment and encourage economic development in the countries that are party to it. Its core provisions lay out the rules and procedures that should be followed when addressing disputes that arise from international investment. This includes both legal disputes and those arising from contract breaches. It also includes disputes concerning taxation and expropriation. The Convention also provides a forum for resolving investment disputes. Each party to the Convention must accept the jurisdiction of the ICSID to resolve any dispute that arises, unless the parties agree otherwise. It also gives the ICSID the power to appoint experts and arbitrators to hear the case and make a final decision. In North Carolina, the International Convention on the Settlement of Investment Disputes (ICSID) works with the National Center for State Courts to provide an impartial, efficient, and cost-effective system for resolving investment disputes. This system ensures that investment disputes are heard fairly and makes it easier for companies to resolve their disputes without having to resort to costly litigation.

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

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