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The International Centre for Settlement of Investment Disputes (ICSID) has
become the leading arbitration institution for the resolution of
investor-state disputes. Today, any company considering an investment in a
foreign country and any financing entity playing a role in the investment must
be aware of ICSID and the growing matrix of bilateral investment treaties
(BITs) and multilateral treaties (MITs), most notably, the North American Free
Trade Agreement (NAFTA) and the Energy Charter Treaty (ECT), providing access
to ICSID. Familiarity with the regime and jurisprudence of ICSID arbitration
is essential for any international investment lawyer, whether focused on
transactions or disputes.
This Guide to ICSID Arbitration, first published in 2004, was written by three
leading ICSID arbitration practitioners in the eminent international law firm
of Freshfields Bruckhaus Deringer to fill the gap in the literature between
generic descriptions and detailed academic commentary. This second edition of
the Guide takes account of the scores of ICSID awards and decisions rendered
since 2004, as well as significant amendments to ICSID rules and practices. It
provides a sufficiently detailed but still ‘user-friendly’ understanding of
what ICSID arbitration is, when and how it can and should be used, and how an
ICSID case works from start to finish. It offers potential and non-expert
users of the ICSID regime - as well as those generally interested in
investment treaty arbitration - the essentials of the ICSID Convention and of
BITs and MITs, the various sets of rules, ICSID procedure, and the now
considerable body of ICSID jurisprudence.
This edition of the Guide includes the following:
• an introduction to the ICSID regime;
• the basics of ICSID contractual arbitration and investment treaty
• a description of the main ICSID rules and how a typical ICSID case develops
• a discussion of the unique features of annulment, recognition and
enforcement of awards, with reference to ICSID decisions and awards to date;
• selected annexes of basic ICSID documents, along with texts of key and
• a selected bibliography of resources; and
• comprehensive tables of ICSID awards and decisions on specific substantive
and procedural issues.
The second edition of the Guide to ICSID Arbitration will be of
incomparable value to international investors, corporate counsel,
businesspersons, government legal advisors, interested lawyers and
arbitrators, and students of dispute resolution. Pitched at an ideal level
between academic scholarship and introductory texts, it offers participants in
all these areas a practical guide to the day-to-day realities of international
investment dispute resolution.
Preface to the second edition. Scope of this Guide. 1. Introduction to
ICSID. 2. Contractual ICSID arbitration and drafting an effective ICSID
arbitration agreement. 3. ICSID investment treaty arbitration 4.
ICSID arbitration procedure. 5. The ICSID review regime. 6.
Recognition, enforcement and execution of ICSID awards. Appendices (including
tables of ICSID awards and decisions on substantive, procedural and other