The ICSID (International Centre for Settlement of Investment
Disputes, "Centre") Arbitration is a popular alternative
dispute settlement system for disputes that arise between the
states/the administrative bodies of states and the companies which
contain foreign capital.
Considering the conventional systems for arbitration, the most
significant point of the ICSID Arbitration is that it does not
require an arbitration agreement between the parties of the
dispute. As it is known, in order to initiate the arbitral
procedure, the parties need to express their will in this regard
and conclude an arbitration agreement/clause; however, ICSID
constitutes an exception to this canon.
Having been established pursuant to the "Convention on the
Settlement of Investment Disputes Between States and Nationals of
Other States" ("Convention") of year 1965, ICSID is
affiliated with the World Bank, but with having an autonomous
structure. Its headquarters is located in Washington
