Section 1 Establishment and Organization…
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APPENDIX
ICSID CONVENTION…
Chapter I International Centre for Settlement of Investment Disputes …
Article 1…
(1) There is hereby established the International Centre for Settlement of Investment…
(2) The purpose of the Centre shall be to provide facilities for conciliation and…
Article 2…
The seat of the Centre shall be at the principal office of the International Bank…
Article 3…
The Centre shall have an Administrative Council and a Secretariat and shall maintain…
Article 5…
The President of the Bank shall be ex officio Chairman of the Administrative Council…
Chapter II Jurisdiction of the Centre…
Article 25…
(1) The jurisdiction of the Centre shall extend to any legal dispute arising directly…
(2) “National of another Contracting State” means: …
(a) any natural person who had the nationality of a Contracting State other than…
(3) Consent by a constituent subdivision or agency of a Contracting State shall require…
Article 26…
Consent of the parties to arbitration under this Convention shall, unless otherwise…
Article 27…
(1) No Contracting State shall give diplomatic protection, or bring an international…
(2) Diplomatic protection, for the purposes of paragraph (1), shall not include informal…
Chapter IV Arbitration…
Section 1 Request for Arbitration…
Article 36…
(1) Any Contracting State or any national of a Contracting State wishing to institute…
(2) The request shall contain information concerning the issues in dispute, the identity…
(3) The Secretary-General shall register the request unless he finds, on the basis…
Section 3 Powers and Functions of the Tribunal…
Article 41…
(1) The Tribunal shall be the judge of its own competence. …
(2) Any objection by a party to the dispute that that dispute is not within the jurisdiction…
Article 42…
(1) The Tribunal shall decide a dispute in accordance with such rules of law as may…
(2) The Tribunal may not bring in a finding of non liquet on the ground of silence…
(3) The provisions of paragraphs (1) and (2) shall not prejudice the power of the…
Article 43…
Except as the parties otherwise agree, the Tribunal may, if it deems it necessary…
(a) call upon the parties to produce documents or other evidence, and (b) visit the scene connected with the dispute, and conduct such inquiries there…
Article 44…
Any arbitration proceeding shall be conducted in accordance with the provisions of…
Article 45…
(1) Failure of a party to appear or to present his case shall not be deemed an admission…
(2) If a party fails to appear or to present his case at any stage of the proceedings…
Article 46…
Except as the parties otherwise agree, the Tribunal shall, if requested by a party,…
Section 4…
The Award…
Article 48…
(1) The Tribunal shall decide questions by a majority of the votes of all its members.…
(2) The award of the Tribunal shall be in writing and shall be signed by the members…
(3) The award shall deal with every question submitted to the Tribunal, and shall…
(4) Any member of the Tribunal may attach his individual opinion to the award, whether…
(5) The Centre shall not publish the award without the consent of the parties.…
Article 52…
(1) Either party may request annulment of the award by an application in writing…
(a) that the Tribunal was not properly constituted; …
(b) that the Tribunal has manifestly exceeded its powers; …
(c) that there was corruption on the part of a member of the Tribunal; …
(d) that there has been a serious departure from a fundamental rule of procedure;…
(e) that the award has failed to state the reasons on which it is based. …
(2) The application shall be made within 120 days after the date on which the award…
(3) On receipt of the request the Chairman shall forthwith appoint from the Panel…
(4) The provisions of Articles 41-45, 48, 49, 53 and 54, and of Chapters VI and VII…
(5) The Committee may, if it considers that the circumstances so require, stay enforcement…
(6) If the award is annulled the dispute shall, at the request of either party, be…
Recognition and Enforcement of the Award…
Article 53…
(1) The award shall be binding on the parties and shall not be subject to any appeal…
