Introduction

Recognition and enforcement of ICSID awards are governed by Articles 53 to 54 of the ICSID Convention.[1] Due to the important differences that exist between the regime for recognition and enforcement under the ICSID rules and those under other widely used arbitral rules, such as the 1976 UNCITRAL Arbitration Rules,[2] those articles are among the most important of the ICSID Convention. Article 53(1) provides that "[t]he award shall be binding on the parties and shall not be subject to any appeal or to any other remedy except those provided for in this Convention. ...