Annual Survey of International & Comparative Law


This article addresses the broad question of enforcement of ICSID arbitral awards under the Convention, with the goal of analyzing the attendant issues. The article is divided into four parts. Part Two deals with background issues such as the purpose of ICSID as envisaged by the ICSID Convention and the composition of the ICSID. Part Three analyzes the ICSID arbitral process and discusses the ICSID's jurisdiction and the constitution of its arbitral panel. Part Four, the main section, discusses the recognition and enforcement of awards. This section will analyze the various steps of enforcement: recognition, enforcement itself, and execution of awards that have been adjudged enforceable. The article will examine the jurisprudence that has been developed in some ICSID cases before domestic courts of member states to the ICSID Convention. Part Four also discusses the practical effects of these cases and analyzes the impact of the annulment provision and process under the Convention on the ICSID mechanism.