Introduction to ICSID arbitration
This chapter deals with arbitration under the rules of the International Centre for Settlement of Investment Disputes (ICSID), subsequently referred to as ICSID arbitration. ICSID was established in 1966 through the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention) and is one of the five international organisations that are part of the World Bank Group. Its main purpose is to provide institutional support for conciliation and arbitration proceedings in relation to international investment disputes. In terms of structure, ICSID consists of an administrative council composed of representatives of its current 153 member states and a secretariat headed by its secretary-general.