A Study On The Enforcement Of ICSID Arbitral Awards

In the past few years,the number of international investment disputes has risen rapidly,investors tend to resort to investment arbitration for help.Although most of ICSID awards have been enforced at different level,there are still several developing countries who refuse or delay the recognition and enforcement.Enforcement is the last but most essential process in the ICSID arbitration.The refusal to enforce the awards could not only make investors bear the pecuniary loss,but also ruin the current ICSID mechanism.The author would like to tease out the enforcement system of ICSID,analyze the theoretical problem and finally put forward some proposal to China.The main part of this dissertation.consists of three chapters in addition to preface and conclusion.Chapter one makes some basic introduction on the enforcement of ICSID arbitration.First,analyzes the enforcement mechanism with three parts,which are current situation,enforcement frameworks both in ICSID Convention and New York Convention.Then,shows the impetus of enforcing the ICSID awards.Chapter two analyzes the issues of enforcement and associated risks.The enforcement issues include immunity,legislative ambiguity,judicial review and supervision.As for risks,refusal of enforcement would lead to domestic trust crisis,destroy ICSID system,and even international economic crisis.Chapter three puts forward some proposals to investors,states and ICSID separately in order to solve the enforcement issues mentioned above.Chapter four assesses the prospect of enforcement issue Investment Court System and then set forth the position China are supposed to take in the era of ISDS reform.