Research On Inconsistent Regulation Paths Of ICSID Arbitral Awards From The Perspective Of The Arbitral Tribunal

The establishment of ICSID(International Centre for Settlement of Investment Dispute,hereinafter referred to as "ICSID")is the beginning of the establishment and development of investment arbitration at the level of international law.Its system design is representative,special and important in the overall framework of international investment arbitration.However,the recent practice of ICSID arbitration has revealed many problems with ICSID arbitration,especially the problem of inconsistent awards.Therefore,the call for reforming the ICSID arbitration mechanism is increasing.Some reform and improvement measures of ICSID have entered the substantive discussion stage,and the latest revised ICSID rules will be issued soon.However,the existing reform measures lacked attention to the arbitrator system.As an important participant in arbitration activities,arbitrators will directly affect the consistency of the results of arbitration awards,such as the methods of their selection and appointment,their own impartiality and independence,and the extent to which they exercise discretion over substantive rules.In turn,it will affect the credibility of the final arbitration result,so it is necessary to seek strategies to deal with the inconsistency of ICSID arbitration awards from the perspective of arbitrators.This article is composed of three parts:introduction,body and conclusion.The body contains five chapters.In the introduction,this article describes the background of the topic selection,the current status of ICSID reform,the problems to be solved in this article,research methods and the positive significance of this research.The first chapter is an overview of the inconsistency of ICSID arbitration awards.This article believes that it is necessary to specifically study the inconsistencies exposed by ICSID in arbitration practice.This necessity stems from the important and special position that ICSID has in the international investment arbitration system.It cannot be compared with general investment arbitration rules or The arbitration institution treats it equally.The problem of inconsistent awards triggered a debate on the "legitimacy crisis" of the investment arbitration mechanism.This article uses the theory of international administrative law to demonstrate the rationality of regulating the legitimacy crisis of ICSID.In order to better analyze the inconsistency of ICSID awards,this article analyzes the arbitration practice of inconsistency awards,and summarizes the ICSID practice of inconsistency awards from the two dimensions of inconsistent awards on the "protection umbrella" clause and inconsistent awards on Argentina.The second chapter is to sort out the factors of the arbitral tribunal that lead to the inconsistency of the ICSID arbitration award.This chapter first analyzes the two direct causes of the inconsistency of awards,namely the procedural law reasons for arbitration rules and the substantive law reasons for investment treaties.Among them,the arbitration rules are inadequate for the selection and appointment of arbitrators,and the rules of conduct,and there is a lack of precedent system;and the substantive rules on which the referee is based have the drawbacks of fragmentation and vagueness of investment treaty provisions.Secondly,this article also analyzes the indirect causes of the inconsistency in arbitration awards.The state game affects arbitration procedures and substantive legal rules.The third chapter is the experience of the inconsistency of the regulatory ruling of other institutions.BIT is the substantive law rule on which the arbitral tribunal bases its judgment.Due to the obvious national interest imprint,BIT is not operable in the process of reference.This part focuses on procedural rules,analyzes the UNICETRAL arbitration rules,analyzes the selection and appointment of arbitrators,arbitrators' code of conduct in the work report of the UNICETRAL Working Group III,and conducts reforms with ICSID Compared.The fourth chapter is from the perspective of the arbitral tribunal to put forward perfect suggestions to deal with the consistency of ICSID awards.In view of the objective difficulty in revising the investment treaty,the procedural rules should be the main revision direction.To deal with the inconsistency of awards,it is necessary to refine the requirements for the arbitrators 'code of conduct in order to make the selection and appointment of arbitrators and the arbitrators' code of conduct more rule-based.The disciplinary actions that violate the arbitration rules can be improved by establishing a precedent system.In terms of substantive law,in order to concretize the content of the substantive law on which the arbitral tribunal bases its judgment,it is necessary to refine the ambiguous provisions of the bilateral investment agreement.Chapter 5 is a Chinese perspective to deal with the inconsistency of rulings.The article first analyzes China's stance on international investment arbitration reform,and secondly,it is concluded from the two levels of China's international investment status and China's ICSID arbitration practice that China should actively participate in the reform of ICSID rules to deal with inconsistencies in awards.To this end,China should actively participate in the ICSID reform and submit a Chinese plan to regulate the code of conduct for arbitrators;at the same time,China should refine the specific appended rules in the bilateral investment treaties to avoid arbitration due to the ambiguity of the investment treaty Inconsistencies.