Code of Conduct for Arbitrators in International Investment Disputes

The Secretariats of the International Centre for Settlement of Investment Disputes (ICSID) and the United Nations Commission on International Trade Law (UNCITRAL) have collaborated on a Code of Conduct for Arbitrators in International Investment Disputes. 

The Code is intended to provide applicable principles and provisions addressing matters such as independence and impartiality, and the duty to conduct proceedings with integrity, fairness, efficiency and civility. It is based on a comparative review of standards found in codes of conduct in investment treaties, arbitration rules applicable to ISDS, and of international courts. 

Code of Conduct Resources

A first version of the Code was published on May 1, 2020. ICSID and UNCITRAL received extensive input on the draft through consultation with State delegates and other interested stakeholders. Based on the feedback received, a second version of the Code was published on April 19, 2021, a third version was published on September 22, 2021, a fourth version was published on July 25, 2022, and the fifth version was published on November 28, 2022. 

In May 2023, ICSID and UNCITRAL published advanced drafts of the texts to be presented to UNCITRAL at its 56th annual session, held from July 3-21 in Vienna, and in October 2023 published advance copies based on the decisions taken by the Commission.

Drafts of the Code of Conduct

Final Drafts

Code of Conduct for Arbitrators in International Investment Dispute Resolution and Commentary (February 2024) (PDF)

Code of Conduct for Judges in International Investment Dispute Resolution and Commentary (October 2024) (PDF)

Advance Copies of Texts Prepared for the 56th Session of UNCITRAL

Draft Code of Conduct for Arbitrators in International Investment Dispute Resolution and Commentary (May 2023) (PDF)

Draft Code of Conduct for Judges in International Investment Dispute Resolution and Commentary (May 2023) (PDF)
 

Version Five of the Code and Draft Commentary

Draft Code of Conduct and Commentary (November 2022) (Download PDF)


Draft Commentary to the Code

Draft Commentary to the Code of Conduct (August 2022) (Download PDF)


Version Four of the Code

Draft Code of Conduct for Adjudicators in International Investment Disputes: Version Four (July 2022) (Download PDF)


Version Three of the Code

Draft Code of Conduct for Adjudicators in International Investment Disputes: Version Three (September 2021) (Download PDF)

Projet de Code de Conduite pour les personnes appelées à trancher des différends internationaux d’investissement : Troisième Version (Septembre 2021) (Télécharger le PDF)

Proyecto de Código de Conducta para decisores en controversias internacionales relativas a inversiones: Tercera Versión (Septiembre de 2021) (Descargar PDF)


Version Two of the Code

Draft Code of Conduct for Adjudicators in International Investment Disputes: Version Two (April 2021) (Download PDF)

Projet de Code de Conduite pour les personnes appelées à trancher des différends internationaux d’investissement : Deuxième Version (Avril 2021) (Télécharger le PDF)

Proyecto de Código de Conducta para decisores en controversias internacionales relativas a inversiones: Segunda Versión (Abril de 2021) (Descargar PDF)


Version One of the Code

Draft Code of Conduct for Adjudicators in Investor-State Dispute Settlement: Version One (May 2020) (Download PDF)

Annex A: Text of the Code of Conduct (Download PDF)

Annex B: Summary of Codes of Conduct in Free Trade Agreements (Download PDF)

Translations of the Code of Conduct by the UNCITRAL Secretariat (Arabic, Chinese, French, Russian and Spanish)