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The board of directors approved the final draft of the agreement, titled Convention on the Settlement of Investment Disputes between States and Nationals of Other States, and the Bank president disseminated the convention to its member states for signature on 18 March 1965. Twenty states immediately ratified the convention.
Convention on the Settlement of Investment Disputes between States and Nationals of Other States
The Washington Convention 1965 relates to settlement of investment disputes between nation states and citizens of other countries. The Convention created the International Centre for Settlement of Investment Disputes (or ICSID). The Convention was primarily designed to create investor confidence, and to promote inward investment into developing ...
Investor–state dispute settlement (ISDS), or an investment court system (ICS), is a set of rules through which states (sovereign nations) can be sued by foreign investors for certain state actions affecting the foreign direct investments (FDI) of that investor.
The Washington Convention 1965 relates to settlement of investment disputes between states and citizens of other countries. The Convention created the International Centre for Settlement of Investment Disputes (or ICSID). Compared to other arbitration institutions, until the early 1990s, relatively few awards had been rendered under the ICSID ...
Arbitration agreements and arbitral awards are enforced under the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (the "New York Convention"). [2] The International Centre for the Settlement of Investment Disputes (ICSID) also handles arbitration, but it is limited to investor-state dispute ...
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In 1959, the first BITs were concluded, and during the following decade, much of the content that forms the basis of a majority of the BITs currently in force were developed and refined. In 1965, the Convention for the Settlement of Investment Disputes Between States and Nationals of Other States was opened to countries for signature.