There is only one award in an ICSID case, and it is the Tribunal’s last decision which disposes of the case. Any other ruling before the final award, such as a decision on liability, is not considered an award, and recourse cannot be taken against it until after the award is rendered. If a Tribunal issues a decision on jurisdiction upholding its jurisdiction, such decision forms part of the eventual award. If a Tribunal decides that it has no jurisdiction, it renders an award.
An award is final and binding on the parties, and is made at the place of arbitration (Article 20 of the Arbitration (Additional Facility) Rules). There are limited post-award remedies available under the Arbitration (Additional Facility) Rules.
The award must comply with certain formal requirements (Article 52 of the Arbitration (Additional Facility) Rules) and must state the reasons upon which it is based. The questions before the Tribunal must be decided by a majority vote of the Tribunal members, but any member may attach an individual opinion (concurring, dissenting or other). The award must be signed by the Tribunal members who voted for it.
The award is rendered when ICSID dispatches certified copies of the award to the parties. Additional certified copies of the award may be requested by the parties. If required by the law of the place of arbitration, the Tribunal (or the Secretary-General on its behalf) must, within the applicable deadline, file or register the original award (Articles 52(3) and 53(1) of the Arbitration (Additional Facility) Rules).
The parties may agree to publish the award on ICSID’s website. When an award is not made public by the parties, the Centre will publish excerpts of the award’s legal reasoning (Article 53 of the Arbitration (Additional Facility) Rules).