Termination of the Mediation - ICSID Mediation (2022)
There are several ways an ICSID mediation may conclude (Mediation Rule 22):
- Notice from the parties that they have signed a settlement agreement
- Notice from the parties that they have agreed to terminate the mediation
- Notice of withdrawal by any party (unless the remaining parties agree to continue the mediation)
- A determination by the mediator that there is no likelihood of resolution through the mediation
- Failure of the parties to take any steps towards the appointment of the mediator
The mediation may also terminate if the parties fail to pay the required advances (Mediation Administrative and Financial Regulation 8).
The notice of termination contains a brief summary of the procedural steps and any agreement of the parties concerning information disclosure. The mediator (or the Secretary-General) signs the termination notice and dispatches a copy of the notice to each party. The notice of termination is aligned with the formal requirements of the Singapore Convention on Mediation, on the enforcement of mediated settlements. The notice of termination also provides evidence that a mediation has been conducted—which, for example, may be a requirement to institute arbitration proceedings at a later stage under some investment treaties.