Study On The Arbitration Mechanism Of The ICSID

With the rapid development of the international investment, the international investment disputes are coming along as well. How to solve the particular type of disputes arouses the attention of all the parties worldwide. Policy, litigation and arbitration play an essential role in the exploration of the solution of international investment disputes; however, the feature of the dispute itself entails the establishment of the special mechanism, as to strike a balance of the interests between the host country and the foreign investor. In this background, ICSID mechanism is coming along. ICSID absorbs the feature of general international commercial arbitration, and it establishes the framework of the jurisdiction mechanism, the procedure of the formation of the arbitration tribunal, the principle of the application of the law, the recognition and enforcement of foreign arbitral awards procedure, and withdrawal of the award etc. ICSID enhances the solution of the international investment disputes in the late 40 years. However, with deepening of the practice of the solution of the disputes, ICSID exposes many drawbacks, and they are reflected in three aspects. The dissertation analyses three aspects and puts forward feasible solutions, and it urges ICSID to play more important role in the solution of the disputes. The multilateral investment agreements of NAFTA, ECT and American bilateral investment agreement learn from the advantages of ICSID in the area of solution of disputes, and agreements have their own features. From comparative analysis, we can probe into the experience and essence of the agreements reversely. With the promulgation of Washington convention on February 6th of 1993, we don't hand one dispute over to ICISD for arbitration. Meanwhile, we adopt the gradual method to recognize the ICSID jurisdiction in an all round way. Combined with the international investment status nowadays in China, the dissertation tries to find a way to deal with the relationship between China and ICSID, and how to ascertain our position in the revolution of ICSID, so as to protect sovereignty, public interest and Chinese investors to the largest extent. The dissertation adopts the comparative and empirical analysis, and it is composed of 5 chapters.The first chapter introduces the way to solve the international investment disputes and the background of the advent of ICSID. When illustrating the international commercial arbitration to solve the disputes, the ICSID is introduced and the brief comparison is made.The second chapter introduces ICSID, including the jurisdiction mechanism, the principle of the application of the law, and the recognition and enforcement of foreign arbitral awards, and the evaluation of ICSID is made.The third chapter illustrates the drawbacks of ICSID, including the expansion of jurisdiction, transparency and the withdrawal of the arbitration award. The solution is put forward.The fourth chapter is comparing ICSID with NAFTA, ECT and American BIT, and the dissertation tries to improve ICSID.The fifth chapter illustrates the relationship between China and ICSID. Firstly, the dissertation introduces the procedure of Chinese accession to the center; secondly, the relationship between China and BIT, ICSID is introduced. The focus is the analysis of the advantage and disadvantage of the recognition of ICSID jurisdiction for Chinese BIT; lastly, the suggestion of how to make full use of ICSID in China is put forward.