Kettlewell et al, Catherine --- "International Centre for Settlement of Investment Disputes" [2019] ELECD 3018; in Fouret, Julien; Gerbay, Remy; Alvarez, M. Gloria (eds), "The ICSID Convention, Regulations and Rules" (Edward Elgar Publishing, 2019) 24

Book Title: The ICSID Convention, Regulations and Rules

Editor(s): Fouret, Julien; Gerbay, Rémy; Alvarez, M. Gloria

Publisher: Edward Elgar Publishing

Section: Chapter 1

Section Title: International Centre for Settlement of Investment Disputes

Author(s): Kettlewell et al, Catherine

Number of pages: 78

Extract:

1
INTERNATIONAL CENTRE FOR
SETTLEMENT OF INVESTMENT
DISPUTES



SECTION 1 ESTABLISHMENT AND ORGANIZATION

ARTICLE 1

Catherine Kettlewell

1. There is hereby established the International Centre for Settlement of Invest-
ment Disputes (hereinafter called the Centre).
2. The purpose of the Centre shall be to provide facilities for conciliation and ar-
bitration of investment disputes between Contracting States and nationals of
other Contracting States in accordance with the provisions of this Convention.



1. COMMENTARY

1.01 Chapter 1 of the Convention sets the basis of the formation and organization of the
Centre from the creation of a separate legal personality to the organic structure and
functioning of its governing body.

A. Establishment of the Centre

1.02 Since its early days, the International Bank for Reconstruction and Development
(IBRD) was sometimes involved in the resolution of disputes between investors and
host States which were members to the IBRD. There was an interest within the IBRD
to develop a system for resolution of disputes. Furthermore, the interest for the inves-
tor-State arbitration was not on commercial arbitration but more on the basis of public
international law instruments, such as the Statute and Rules of the International Court




24
 ARTICLE 1


of Justice.1 It was then, in 1964, that the Board of Governors of the IBRD requested
the Executive Directors to take on the task to draft a proposal with the aim of provid-
ing a facility for the Member States to resolve these disputes within a framework that
provided procedural ...