On September 26-27, 2018, ICSID convened a meeting of Member States to discuss amendments to the ICSID rules. The meeting followed the publication of proposed changes to the ICSID rules by the Secretariat on August 3, 2018.
One hundred and sixty-four delegates from 76 States gathered for an in-depth discussion of ways to modernize ICSID’s rules for resolving international investment disputes. Core objectives are to reduce the time and cost of proceedings, expand ICSID’s range of dispute settlement options, and continue to balance the interests of States and investors.
Among the topics discussed by delegates were:
- Increasing public access to case-related material, particularly Awards, decisions and orders by tribunals;
- Introducing new disclosure requirements for third-party funding;
- Making existing rules for conciliation and fact-finding more user-friendly and drafting new rules for mediation;
- Amending the process for challenging arbitrators; for example, by introducing an expedited schedule for parties filing a challenge;
- Enhancing the declaration of independence and impartiality for arbitrators;
- Expanding access to the Additional Facility for States and investors that are not ICSID contracting States, as well as for regional economic integration organizations.
States and the public are invited to submit written comments on the proposed amendments until December 28th, 2018. Submissions will be published on the ICSID website.