Initial Steps after Registration - ICSID Convention Conciliation (2022)
- The proceeding begins when the Request for conciliation is registered. Unless the parties agree otherwise, the applicable ICSID Conciliation Rules are those in effect at the time the parties consented to conciliation (Article 33 of the Convention, Conciliation 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 Conciliation 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 conciliation is registered:
- The names of the parties and basic case details are posted on the ICSID website
- The parties should constitute the Commission as soon as possible. If they have not already done so, they should endeavor to agree on the number of conciliators and the method of their appointment within 45 days after registration (Conciliation Rule 11(2)) and subsequently select and appoint the members of the Commission within 90 days (Conciliation Rule 15(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 (Conciliation Rule 12). 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 Commission. 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 Commission (Administrative and Financial Regulation 15(1))