ICSID Meaning and
Definition
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The International Centre for Settlement of Investment Disputes (ICSID) is an internationally recognized institution established under the umbrella of the World Bank Group. It was created in 1966 and is headquartered in Washington, D.C.
ICSID provides a neutral and independent forum for the settlement of investment disputes between foreign investors and host countries. It aims to promote and facilitate international investment by offering a specialized mechanism for the resolution of investment-related disputes. Its primary mandate is to administer arbitration and conciliation proceedings between disputing parties.
ICSID operates under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, commonly known as the ICSID Convention. This multilateral treaty grants jurisdiction to the Centre over investment disputes arising between host states and foreign investors from states that have ratified the Convention.
Under the ICSID regime, disputes are settled through arbitration proceedings,
which are conducted by impartial panels of arbitrators. These panels are selected by the parties involved, ensuring a fair and balanced process. ICSID arbitration awards are binding and enforceable in over 150 member countries.
ICSID functions as a neutral and transparent forum, guided by principles of due process and fairness to ensure the impartial resolution of investment disputes. Its establishment has played a crucial role in promoting foreign investment by providing a reliable mechanism for resolving disputes that may arise between investors and states.
Common Misspellings for ICSID
- icwsid
- iccsid
- icssid
- icsiid
- icsidd
- iCSID
- yCSID
- mCSID
- IgSID
- IbSID
- ICqID
- ICSyD
- ICShD
- ICSIl
- i csid
- ic sid
- ics id
- icsi d
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