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ARTICLE · 06 NOVEMBER 2013

Arbitration In Canada: Canada Ratifies The ICSID Convention

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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After a long delay, on November 1, 2013, Canada ratified the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the Convention).

CanadaLitigation, Mediation & Arbitration

After a long delay, on November 1, 2013, Canada ratified the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the Convention). In so doing, Canada has become the 150th member state of the International Centre for the Settlement of Investment Disputes (ICSID).  Although Canada signed the Convention in December 2006, and passed implementing legislation in 2008, it had not ratified the Convention until recently. As a result of ratification, the Convention will become law in Canada on December 1, 2013, nearly seven years after Canada first became a signatory.

BACKGROUND ON ICSID

ICSID is a widely used institution that assists in resolving legal disputes between host states and foreign investors. Most nations, including nearly all of Canada's major trading partners and all G8 countries, are ICSID members. The Secretary-General of the organization is a Canadian, and Canadians have arbitrated ICSID disputes in the past.

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