The Role of Arbitration in the Resolution of Disputes and Claims Arising from Foreign Investment within the ICSID procedure
Subject Areas : Financial Economicssaeed goodarzi 1 , یوسف درویشی هویدا 2 * , ebrahim delshad 3
1 - .Department of Law, Qo.C, Islamic Azad University, Qom, Iran.
2 - . Department of Jurisprudence and Law, CT.C., Islamic Azad University, Tehran, Iran
3 - Department of Private Law, Qom Branch, Islamic Azad University, Qom, Iran.
Keywords: Arbitration, ICSID Jurisdiction, Foreign Investment, 1969 Convention, ICSID procedure ,
Abstract :
The International Centre for Settlement of Investment Disputes (ICSID) stands as a prominent arbitration institution in the resolution of disputes between states and foreign investors. Consequently, ICSID's arbitral jurisprudence carries significant weight across various substantive and procedural matters. However, arbitration possesses inherent characteristics that manifest in the nature of the parties involved, the subject matter of investment contracts, and the disputes arising therefrom. A key characteristic is the host state's power to amend its domestic laws, a factor that can generate anxiety and distrust among foreign investors. This article analyzes the merits and drawbacks of the legal framework governing arbitration in foreign investment disputes within the ICSID context. It further explores the influence of party autonomy in determining the applicable legal regime for both the proceedings and the dispute's subject matter, the significance of arbitral awards, and the mechanisms of their enforcement, thereby examining arbitration's role in resolving investment disputes. The central theme of this article is the examination of arbitration's position in resolving disputes and claims stemming from foreign investment within ICSID practice. One of the key findings of this article underscores the necessity for Iran to accede to ICSID practice concerning the arbitration of foreign investment disputes
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