Summary

The settlement of investment disputes within the ICSID system is carried out by the ICSID arbitral tribunals which are non-permanent judicial bodies. Every separate case is adjudicated by a different ICSID panel. The only remedy available to set aside an ICSID award is the annulment procedure pursuant to Article 52 which concerns only the legitimacy of the process of decision. Moreover, the possibility of appeal of an arbitral award is explicitly excluded within the ICSID system. The limited scope of review pursuant to article 52 as well as the explicit exclusion of appeal intend ...