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 treaty that was designed to provide a neutral and impartial platform for settlement of international investment disputes between Contracting States and foreign investors. The treaty was signed in Washington D.C. in 1965. Countries that ratify the treaty agree to allow disputes between them and foreign investors to be settled not only in their domestic court system but also through an international investment tribunal. ICSID is based on the principle of “mutual consent” between the countries involved. This principle means that the parties must agree to an investment dispute resolution method before any proceedings begin. The Convention allows investors to submit claims to an international tribunal for arbitration or conciliation. In order to use these channels, the investor must have a specific investment treaty with the country the dispute is with. In North Dakota, the ICSID is applicable in any dispute involving foreign investors and North Dakotan investors. The Convention is applicable as long as the foreign investor has a treaty or agreement with North Dakota. This agreement often relates to investment-protection guarantees. ICSID is a great way for international investors to resolve disputes in North Dakota, as it helps to ensure impartiality and fairness. It also ensures that disputes will be settled expeditiously, reducing costs and increasing investor confidence.

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

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