| Nowadays, the global economy is developing with a great speed, so there is lotsof investment between countries, which brings a great number of investment disputes.As a professional agency on settling international disputes, ICSID plays a more andmore important role in the global economy. However, owing to the existence of someshortcomings of the ICSID annulment system, the function of ICSID is weakened.In this paper, with a perspective of protecting the arbitration entity fairness, theauthor analyzed the ICSID arbitration annulment system and its shortcomings and putforward some suggestions for it, and the author also put forward some advice forchina to deal with it.Except the introduction and conclusion, this thesis consists of five chapters. Thefirst chapter is mainly about the overview of ICSID annulment system, including thedefinition and characteristics of ICSID annulment system and the difference betweenthe ICSID annulment system and other resolving measures. By such comparison, theauthor aims at putting forward the importance of the annulment system.The second chapter mainly analyzed the ICSID annulment system, especially thereason to annul, which is stipulated on item1of article52in Convention on the Settlement of Investment Disputes between States and Nationals with5provisions. Inthis chapter, the author extensively analyzed such5provisions and discussed theirdeficiency with specific cases.The third chapter mainly discussed the insufficient aspects of the ICSIDannulment system, which mainly includes the fuzziness of the reasons for arbitrationannulment, the oversized discretionary power, the fact that the investigation onarbitration award does not include substantial matters and the low level oftransparency of the arbitration system.The fourth chapter mainly mentioned the shortcomings in the annulment systemand put forward some suggestions, which consists of four parts. The first part ofsuggestion is to establish the ICSID Appeal System. The second part is to ensure theconsistency of the arbitration awards. The third part is to keep the balance of thevalues of ICSID arbitration. The Fourth part is to raise the level of transparency ofICSID arbitration system in order to make the annulment system a better system andto protect the substantial fairness of the arbitration awards.The last mainly analyzed the shortcomings of the ICSID annulment system andput up some suggestions for China to deal with it. |
