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Since the 1966 entry into force of the International Convention on the Settlement of Investment Disputes between States and Nationals of Other States, the World Bank Group's International Centre for the Settlement of Investment Disputes (ICSID) has existed as a forum for arbitration between states and investors that functions independently of local courts and local procedural law and issues arbitration awards immune from any form of national court review. This guide is presented for the purpose of giving international investors and their in-house counsel, as well as government legal advisers, a basic understanding of the ICSID system and how it may be used. They discuss the contours of contractual arbitration and how to draft an ICSID arbitration clause; the growth in investment treaties providing for ICSID arbitration; the ICSID rules and arbitration process; the ICSID regime of post-award review (particularly the annulment process); and the recognition, enforcement, and execution of ICSID awards in national courts. Annotation c2011 Book News, Inc., Portland, OR (booknews.com)
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