Strategic Studies of Jurisprudence and Law

Strategic Studies of Jurisprudence and Law

The Role of the ICSID Convention in the Arbitration and Development of Economic Investment

Document Type : research

Authors
Parisa Kazemian 1
Mahboubeh Abdollahi 2
Saeed Abasinya 3
1 PhD student, Department of Private Law, Khuzestan Science and Research Campus, Islamic Azad University, Ahvaz, Iran.2. PhD student, private law department, Ahvaz branch, Islamic Azad University, Ahvaz, Iran.
2 Assistant Professor Department of Law, Dezful Branch, Islamic Azad University, Dezful, Iran.
3 Assistant Professor Department of Theology and Islamic Studies, Abadan Branch, Islamic Azad University, Abadan, Iran.
10.22034/ejs.2024.409058.1499
Abstract
Background and purpose: "In the ICSID Arbitration Convention" the provisions related to the settlement of investment disputes between countries with nationals of other countries have been established with special sensitivity and to a large extent the concerns of foreign investors have been resolved. The purpose of the role of the ICSID Convention in arbitration and investment development It is economic.
  Materials and methods: In this research, which is written in descriptive analytical method, Delphi method, questionnaire and interview were not used, therefore, library sources and phishing tools were used to collect data.
  Ethical considerations: In all stages of writing the present research, while respecting the originality of the texts, honesty and trustworthiness have been observed.
 Results: In the ICSID system, while maintaining the role of freedom of parties in arbitration as a method of dispute resolution, direct legal guarantee of capital is also provided. Foreign investors are expected to provide a fair ground for the settlement of legal disputes. This center (ICSID) was established specifically to settle investment disputes between investors and governments. Today, a large part of these disputes are dealt with in this center.
Conclusion.. Many bilateral treaties and investment treaties have specified ICSID for this purpose in settling investment disputes as a modern method. This method was created with the aim that the arbitral tribunal is composed of competent and completely impartial international arbitrators as much as possible. The jurisdiction of this center includes any legal dispute that directly results from an investment between a contracting state and nationals of another contracting state that the parties to the dispute have given written consent to refer to the center.
Keywords
Icsid convention
arbitration
investment
economic investment
disputes
Subjects

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Strategic Studies of Jurisprudence and Law
Volume 6, Issue 1 - Serial Number 20
Studies of economic jurisprudence
Spring 2024
Pages 121-140