The Tribunal must be constituted as soon as possible after registration of a request for arbitration. It is constituted on the date the Secretary-General notifies the parties that all arbitrators have accepted their appointments (Arbitration Rule 6(1)
Effects of the Tribunal’s Constitution
Once a Tribunal is constituted:
- The proceedings are deemed to have begun.
- A member of the ICSID Secretariat (legal counsel) is designated to serve as Secretary of the Tribunal.
- ICSID sends the request for arbitration and all correspondence between ICSID and the parties to the members of the Tribunal, including any request for provisional measures made under Arbitration Rule 39(1) and (5).
- The first session of the Tribunal must be held within 60 days from the date of constitution, unless the parties agree otherwise (Arbitration Rule 13(1)). The Secretary of the Tribunal will contact the parties to enquire about their availability for the session.
- A party may raise preliminary objections under Arbitration Rule 41(5) no later than 30 days after the constitution, unless the parties have agreed otherwise.
- After consultation with the President of the Tribunal, the Secretary of the Tribunal will request the parties to make a first advance payment to cover the costs of the proceeding (Administrative and Financial Regulation 14(3)). The amount of the first advance will vary depending on the number of arbitrators and the anticipated expenses during the first three to six months, in particular in connection with the first session of the Tribunal. The parties may expect a first advance in the order of US$100,000-150,000 per party.
- An administrative charge (US$32,000 under the current Schedule of Fees) is divided equally between the parties and deducted from the parties’ advances on an annual basis, on the anniversary of the date of constitution of the Tribunal.