The ICSID Convention, Regulations and Rules


The ICSID Convention, Regulations and Rules

A Practical Commentary

9781786435231 Edward Elgar Publishing
Edited by Julien Fouret, Partner, International Arbitration and Public International Law, Eversheds Sutherland, Paris, France, Rémy Gerbay, Partner Hughes Hubbard & Reed LLP, US and Gloria M. Alvarez, School of Law, University of Aberdeen, UK
Publication Date: 2019 ISBN: 978 1 78643 523 1 Extent: 1,504 pp
This major new commentary on the ICSID Convention, Regulations and Rules offers a new, forward-looking and highly practical interpretation of the convention and its associated documents. It is the first commentary to provide systematic article-by-article coverage not only of the Convention itself, but also of the institution rules, the ICSID arbitration rules and the ICSID administrative and financial regulations.

Written by a team of leading experts from private practice, government and academia, this uniquely comprehensive work will be an essential resource for those in the investment arbitration community, and a turn-to reference work for international investment law and international arbitration scholars.

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This original commentary on the ICSID Convention, Regulations and Rules offers a new, forward-looking and highly practical interpretation of the Washington Convention and its associated documents. It is the first commentary to provide systematic article-by-article coverage not only of the Convention itself, but also of the institution and arbitration rules as well as the administrative and financial regulations.

Key features include:

• Contributions from leading practitioners, academics and government officials in the field of international investment law and arbitration, drawn from different backgrounds and jurisdictions to give an exhaustive view of the topic

• Analysis of current thinking around proposed amendments to ICSID Rules, together with an examination of potential future developments in their interpretation and implementation

• Inclusion of the full text of the Convention, Regulations and Rules provided for ease of reference

• Detailed commentary on the Convention, Regulations and Rules, including up-to-date analysis of all significant case-law.

• Highly practical information and insights presented in an accessible format, ideal for use by Arbitration Tribunals.

This unique and comprehensive work will be an essential resource for practising lawyers and policy-makers in the investment arbitration community. The book will also be an important reference work for researchers and academics in international investment law and international arbitration.
Critical Acclaim
‘By all accounts and standards, this is an impressive book. This guide is comprehensive and very reliable. On dozens of issues, from the dramatic to the mundane, readers are provided with accessible information, and often with guidance as to the proper interpretation of controversial provisions. It has taken quite a while for the Commentary genre to engage with the ICSID Convention. This work is not the first of its kind, but - at least for the time being - the most comprehensive, up-to-date and compact guide to the ICSID arbitration framework: it marks a significant achievement, on which the editors and the publisher are to be congratulated.’
– Christian Tams, European Yearbook of International Economic Law

‘The must-read and must-have state-of-the-art practical guide for all users of the ICSID Convention.’
– Nikos Lavranos, European Investment Law and Arbitration Review

‘This is a monumental work . . . this book is worth its weight in gold. The detail of the commentary on each article of the Convention, regulations and rules is impressive. With the surge in investment arbitration over the past thirty years, this work is no doubt a timely and topical addition to the ISDS library, which will offer a welcome alternative to the longer-standing, more entrenched works on the subject. . . . the absolutely supreme quality of the writing that constitutes the commentary. I cannot but recommend this work most warmly and look forward to using it in my own practice.’
– Gordon Blanke, Arbitration

‘Because of the ICSID system’s fundamental and ground-breaking role in this context, the ICSID Commentary is indispensable. It provides a thorough and comprehensive and up-to-date view of how it operates and how it achieves a balance of the interests of States and investors, as well as of how it has been capable of evolving and
adapting over the years.’
– Luca G Radicati di Brozolo and Caterina Benini, CSID Review

‘The Practical Commentary is an impressive piece of scholarship with a pragmatic analytical approach on the most important set of rules for the settlement of ISDS disputes. It is a comprehensive and accessible treatment of the ICSID Convention, its Regulations and Rules. The diligent and terrific analysis of those provisions carried out by the 101 authors with extensive expertise in ISDS, shows how history, tradition and evolution coexist peacefully in the ICSID system, thanks to the flexible and elastic nature of the provisions of the Convention, its Regulations and Rules.’
– Gabriele Ruscalla, ICC Dispute Resolution Bulletin

‘Having gathered writings from over 70 authors, Fouret, Gerbay and Alvarez have created an ICSID Practical Commentary that presents a detailed and exhaustive review of the ICSID Convention, Rules and regulations. Extensive discussion of policy, practice and scholarship makes of this commentary a timely and highly relevant reference work for all the members of the investment arbitration community.’
– Gabrielle Kaufmann-Kohler, Professor Emerita at Geneva University Law School, Switzerland

‘ICSID Practical Commentary is a state of the art work on the present and future of international investment treaty practice under ICSID. This important book should be a required stop for policy-makers, government officials, practitioners and academics concerned with investment treaty practice under ICSID procedures and beyond. This volume is an all-encompassing work as it encapsulates the experience of many knowledgeable members of the arbitration community.’
– George A. Bermann, Columbia University, School of Law, US

‘This comprehensive commentary is the first in-depth analysis of both the Washington Convention together with all the regulations and rules applicable in an ICSID Arbitration. With more than 70 authors, including themselves, Julien Fouret, Rémy Gerbay and Gloria Alvarez have edited a book which demonstrates their understanding of the system as a whole by proposing a practical and forward-looking analysis of not only what are the rules applicable to date, but also what might be expected in the future.’
– Professor Emmanuel Gaillard, Partner and Head of Arbitration Practice, Shearman & Sterling, France

‘Modern, simple and sophisticated, the latest comprehensive study of the ICSID Rules likely will become a staple of investment treaty arbitration.  Practitioners will know to take advantage of the detailed and organized review of the Rules, which could hardly be easier to consult. The commentary is both intellectual and practical.’
– Julie Bédard, Partner and Head of International Litigation and Arbitration, Americas, Skadden, Arps, Slate, Meagher & Flom and Senior Co-chair, IBA Arbitration Committee

Foreword liv

The Preamble of the ICSID Convention 2
1 International Centre for Settlement of Investment Disputes 24
2 Jurisdiction of the Centre 102
3 Conciliation 256
4 Arbitration 271
5 Replacement and Disqualification of Conciliators and Arbitrators 751
6 Cost of Proceedings 777
7 Place of Proceedings 831
8 Disputes Between Contracting States 848
9 Amendment 858
10 Final Provisions 868

11 ICSID Administrative and Financial Regulations 912
12 Procedures of the Administrative Council 915
13 The Secretariat 925
14 Financial Provisions 930
15 General Functions of the Secretariat 941
16 Functions with Respect to Individual Proceedings 947
17 Special Provisions Relating to Proceedings 955
18 Immunities and Privileges 959
19 Miscellaneous 962

20 Rules of Procedure for the Institution of Conciliation and Arbitration
Proceedings (Institution Rules) 965

21 Establishment of the Tribunal 978
22 Working of the Tribunal 1029
23 General Procedural Provisions 1058
24 Written and Oral Procedures 1085
25 Particular Procedures 1139
26 The Award 1225
27 Interpretation, Revision and Annulment of the Award 1270

Select bibliography 1305
Index 1311
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