Initial Steps after Registration - ICSID Convention Arbitration (2022 Rules)
The proceeding begins when the Request for arbitration is registered. Unless the parties agree otherwise, the applicable ICSID Arbitration Rules are those in effect at the time the parties consented to arbitration (Article 44 of the ICSID Convention, Arbitration Rule 1(1)). The date of consent is determined by the relevant instrument of consent.
The parties may agree to modify provisions of the ICSID Arbitration Rules as long as the modification does not conflict with the ICSID Convention or the Administrative and Financial Regulations.
Effects of Registration
Once the Request for arbitration is registered:
- The names of the parties and basic case details are posted on the ICSID website.
- The parties should constitute the Tribunal as soon as possible. If they have not already done so, they should endeavor to agree on the number of arbitrators and the method of their appointment within 45 days (Arbitration Rule 15(2)) and subsequently select and appoint the members of the Tribunal within 90 days (Arbitration Rule 18(1)).
- Any party that has obtained third-party funding must file a written notice disclosing the name and address of the funder upon registration, or immediately upon concluding a third-party funding arrangement (Arbitration Rule 14). If the third-party funder is a juridical person, the notice must include the names of the persons and entities that own and control that juridical person.
- The claimant will be asked to make an initial advance payment to cover the costs of the proceeding through the first session of the Tribunal. This amount will be considered as partial payment of its share of the advances that the parties are requested to make after the constitution of the Tribunal (Administrative and Financial Regulation 15(1)).
- An administrative charge (US$42,000 under the current Schedule of Fees) is levied upon the registration of the Request for arbitration, divided equally between the parties and deducted from the parties’ advances on an annual basis, on the anniversary of the date of registration of the Request.
- A party may file an objection that a claim is manifestly without legal merit (Arbitration Rule 41), a request for provisional measures (Arbitration Rule 47) or a request for security for costs (Arbitration Rule 53). If such objection or request is made before constitution of the Tribunal, the Secretary-General fixes time limits for written submissions so that the Tribunal may consider them promptly upon its constitution. Any other request that is to be decided by the Tribunal will be transmitted to the Tribunal upon its constitution (Arbitration Rule 21(2)). The Tribunal will fix time limits for a briefing schedule, unless the time limits are prescribed by the Convention or the Rules (Arbitration Rule 10(1)).