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 created in 1965 to help resolve investment disputes between states and foreign investors. The Convention is administered by the World Bank and allows foreign investors to bring claims against states for breaches of their obligations under international law. The Convention is often used to resolve disputes arising from investment treaties, international agreements, and bilateral investment treaties between states and foreign investors. ICSID is based on the principle of “state consent”, which means that any disputes involving parties from different countries will need to be addressed by the states involved in the dispute. The Convention has been ratified by many countries around the world and is widely recognized as an important tool for settling international investment disputes. The Convention provides for binding arbitration, which is an alternative dispute resolution method in which parties agree to have a neutral third party make a binding decision in their dispute. The Convention also sets out procedures for the selection and appointment of the arbitrators, and the rules which the arbitrators must follow while conducting the arbitration. The Convention further provides for the enforcement of the arbitral award in case the states involved are unwilling to comply with the findings. International law in Tennessee is regulated by the International Law Section of the Tennessee Bar Association. This section provides guidance and resources to attorneys in Tennessee on international law issues, including the ICSID Convention. Lawyers in Tennessee are encouraged to become familiar with the ICSID Convention and any relevant international investment treaties that may apply to the particular dispute.

Related FAQs

What is the International Law Commission?
What is a treaty?
What is the International Court of Justice Advisory Opinion?
What is the International Convention on the Rights of Persons with Disabilities (CRPD)?
What are the international norms on the Law of Armed Conflict?
What is the International Convention on the Prohibition of Chemical Weapons (CWC)?
What is the International Law of State Responsibility?
How does International Law regulate international trade?
What is the International Law of the Sea?
What is the Law of the Sea Tribunal (ITLOS)?

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

Related FAQs

Related Blog Posts