Streamlining the ICSID Process: New Statistical Insights and Comparative Lessons from Other Institutions
Article from: TDM 1 (2014), in Reform of Investor-State Dispute Settlement
A central issue with the current investor-State dispute settlement system (ISDS) concerns the considerable time required for cases to reach a conclusion. The interval from the request for arbitration until the rendering of an arbitral award typically takes years, with several cases lasting over a decade. For ICSID cases, parties have been known to then bring annulment proceedings not only to challenge awards but also to further prolong the process in the hopes of forcing a settlement. Excessive delays can undermine the credibility of the system to the detriment of all parties ...