ICSID Rules definition

ICSID Rules bears the meaning ascribed thereto in Section 9.4(a);

ICSID Rules. The meaning ascribed thereto in Section 16.3.1.

ICSID Rules means the rules of the International Centre for Settlement of Investment Dispute in effect as of the date of entry into force of this Agreement or as may be amended from time to time. Explanatory Notes Definition of InvestmentOf all the definitions, “Investment” is perhaps the most controversial and critical given that the definition will determine which foreign capital flows will be covered by the Agreement. The scope of the definition of an Investment is also important in treaty drafting and negotiation because it determines whether an Investor can commence binding arbitration against host states in the event of a dispute.Based on the current policy direction of African Governments to promote investments that are supportive of sustainable development, through the development of policies to allow entry of businesses that brings constructive economic and social benefits, this Model BIT adopts an enterprise-based approach to the definition of Investment. It requires the establishment or acquisition of an enterprise, as one classically associated with foreign direct investment. The assets of the enterprise are then included among the covered assets of the investor. The illustrative list of assets that follows the opening paragraph is not the test of an investment but highlights the types of assets an investment covered under the BIT may own or control.Definition of MeasuresMeasures are set up to accommodate different levels of government. Drafters and negotiators of BITs should determine what levels of government should be covered. Note also that a judicial decision would be included in the list of measures proposed. This is commonly understood to be within the scope of investment treaties for the purpose of avoiding a potential major loophole. “Directly affecting” as used in the definition means the Measure must have a direct impact on or relation to the investment, not simply lead to some tangential or indirect impact on it.Africa Arbitration Academy Model Bilateral Investment Treaty for African States Definition of Traditional Knowledge and Traditional Cultural Expression The protection of the rights of indigenous peoples and Local/Ethnic Communities from undue use and exploitation by Investors is critical and thus forms part of the internationally recognised global protection standards for international investments. These rights include amongst others, Traditional Knowledge and Traditional Cultural Expressions. While there is yet to be a globally accepta...

Examples of ICSID Rules in a sentence

• As to the confidentiality of the awards, see the Article 48.4 of the ICSID Rules or art 32.5 of the UNCITRAL Arbitration Rules, both of which permit publication of the award only with the consent of both parties.

• Whether early dismissal could raise due process concerns, particularly when the parties have not agreed to the use of such tool and in relation to 21 See ICSID Rules Article 41(5) and Rule 29 of the 2016 SIAC Arbitration Rules.

• On 8 February 2016, the Secretary-General, in accordance with Rule 6(1) of the ICSID Rules of Procedure for Arbitration Proceedings (the “Arbitration Rules”), notified the Parties that all three arbitrators had accepted their appointments and that the Tribunal was thereforedeemed to have been constituted on that date.

• Such rules shall be binding on the relevant14 In the case of the Philippines, the submission of a claim under the ICSID Convention and the ICSID Rules of Procedure for Arbitration Proceedings shall be subject to a written agreement between the disputing parties in the event that an investment dispute arises.

• On April 19, 2019, the Secretary-General, in accordance with Rule 6(1) of the ICSID Rules of Procedure for Arbitration Proceedings (the “ Arbitration Rules”), notified the Parties that all three arbitrators had accepted their appointments and that the Tribunal was therefore deemed to have been constituted on that date.

• ICSID Rules – Conciliation, Mediation and ArbitrationWith regard to investment, parties to international investment contracts can settle their investment-related dispute through conciliation.

• While it is correct that consent under ICSID Rules may not be withdrawn, the Claimant has to meet the conditions set forth in the Treaty for the consent to be perfected.