I. INTRODUCTION
On 21 March 2022, a comprehensively updated set of rules and
regulations for ICSID arbitration, conciliation, and mediation
proceedings was approved.1 The new rules and regulations
will go into effect on 1 July 2022. The amendments are noteworthy
in several respects. The rules have been redrafted in plain,
modern, gender-neutral language and have been structurally
reorganized in a user-friendly way. The substantive changes to the
rules are aimed at reducing the time and cost of proceedings,
ensuring greater use of technology, and increasing transparency.
There are also new stand-alone rules on mediation (for all or part
of a dispute) and fact-finding.
In this client alert, we highlight the key amendments to
ICSID's Institution Rules, Arbitration Rules, and the
Additional Facility Rules and assess their likely impact on
investor-State arbitrations. 2
