ICSID

ARBITRATION
RULES

ICSID CONVENTION, REGULATIONS AND RULES 88

TABLE OF CONTENTS
Chapter Rule Page

I General Provisions 93
1 Application of Rules 93
2 Party and Party Representative 93
3 General Duties 93
4 Method of Filing 94
5 Supporting Documents 94
6 Routing of Documents 94
7 Procedural Languages, Translation
and Interpretation 95
8 Correction of Errors 96
9 Calculation of Time Limits 96
10 Fixing Time Limits 96
11 Extension of Time Limits Applicable to Parties 96
12 Time Limits Applicable to the Tribunal 97
II Establishment of the Tribunal 97
13 General Provisions Regarding the
Establishment of the Tribunal 97
14 Notice of Third-Party Funding 98
15 Method of Constituting the Tribunal 98
16 Appointment of Arbitrators to a
Tribunal Constituted in Accordance with
Article 37(2)(b) of the Convention 99
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17 Assistance of the Secretary-General with

Appointment 99
18 Appointment of Arbitrators by the Chair
in Accordance with Article 38 of
the Convention 99
19 Acceptance of Appointment 99
20 Replacement of Arbitrators Prior
to Constitution of the Tribunal 100
21 Constitution of the Tribunal 100

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III Disqualification of Arbitrators
and Vacancies 101
22 Proposal for Disqualification of Arbitrators 101
23 Decision on the Proposal for Disqualification 102
24 Incapacity or Failure to Perform Duties 102
25 Resignation 102
26 Vacancy on the Tribunal 102
IV Conduct of the Proceeding 103
27 Orders and Decisions 103
28 Waiver 103
29 First Session 104
30 Written Submissions 105
31 Case Management Conferences 105
32 Hearings 106
33 Quorum 106
34 Deliberations 106
35 Decisions Made by Majority Vote 107
V Evidence 107
36 Evidence: General Principles 107
37 Disputes Arising from Requests for
Production of Documents 107
38 Witnesses and Experts 107
39 Tribunal-Appointed Experts 108
40 Visits and Inquiries 109
VI Special Procedures 109
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41 Manifest Lack of Legal Merit 109

42 Bifurcation 110
43 Preliminary Objections 111
44 Preliminary Objections with
a Request for Bifurcation 111
45 Preliminary Objections without
a Request for Bifurcation 112
46 Consolidation or Coordination of Arbitrations 113
47 Provisional Measures 114

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 48 Ancillary Claims 115
49 Default 115
VII Costs 116
50 Costs of the Proceeding 116
51 Statement of and Submission on Costs 116
52 Decisions on Costs 116
53 Security for Costs 117
VIII Suspension, Settlement and Discontinuance 118
54 Suspension of the Proceeding 118
55 Settlement and Discontinuance by
Agreement of the Parties 119
56 Discontinuance at Request of a Party 119
57 Discontinuance for Failure of Parties to Act 120
IX The Award 120
58 Timing of the Award 120
59 Contents of the Award 121
60 Rendering of the Award 121
61 Supplementary Decision and Rectification 122
X Publication, Access to Proceedings and
Non-Disputing Party Submissions 123
62 Publication of Awards and Decisions
on Annulment 123
63 Publication of Orders and Decisions 124
64 Publication of Documents Filed in
the Proceeding 124
65 Observation of Hearings 124
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66 Confidential or Protected Information 125

67 Submission of Non-Disputing Parties 125
68 Participation of Non-Disputing Treaty Party 126
XI Interpretation, Revision and Annulment
of the Award 127
69 The Application 127
70 Interpretation or Revision: Reconstitution
of the Tribunal 128

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 71 Annulment: Appointment of the
ad hoc Committee 129
72 Procedure Applicable to Interpretation,
Revision and Annulment 129
73 Stay of Enforcement of the Award 130
74 Resubmission of Dispute after an Annulment 131
XII Expedited Arbitration 132
75 Consent of Parties to Expedited Arbitration 132
76 Number of Arbitrators and Method of
Constituting the Tribunal for
Expedited Arbitration 132
77 Appointment of Sole Arbitrator for
Expedited Arbitration 133
78 Appointment of Three-Member Tribunal
for Expedited Arbitration 133
79 Acceptance of Appointment in Expedited
Arbitration 134
80 First Session in Expedited Arbitration 135
81 Procedural Schedule in Expedited Arbitration 135
82 Default in Expedited Arbitration 136
83 Procedural Schedule for Supplementary
Decision and Rectification in Expedited
Arbitration 136
84 Procedural Schedule for Interpretation,
Revision or Annulment in Expedited
Arbitration 136
85 Resubmission of a Dispute after
Annulment in Expedited Arbitration 137
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86 Opting Out of Expedited Arbitration 137

ICSID CONVENTION, REGULATIONS AND RULES 92

 INTRODUCTORY NOTE
The ICSID Arbitration Rules were adopted by the Administrative Council
of the Centre pursuant to Article 6(1)(c) of the ICSID Convention.
The ICSID Arbitration Rules are supplemented by the ICSID Administrative
and Financial Regulations.
The ICSID Arbitration Rules apply from the date of registration of a
Request for arbitration until an Award is rendered and to any post-Award
remedy proceedings.

CHAPTER I
GENERAL PROVISIONS
Rule 1
Application of Rules
(1) These Rules shall apply to any arbitration proceeding conducted
under the Convention on the Settlement of Investment Disputes
between States and Nationals of Other States ( "Convention" )
in accordance with Article 44 of the Convention.
(2) The Tribunal shall apply any agreement of the parties on procedural
matters to the extent that it does not conflict with the Convention
or the ICSID Administrative and Financial Regulations.

Rule 2
Party and Party Representative
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(1) For the purposes of these Rules, "party" includes all parties
acting as claimant or as respondent.
(2) Each party may be represented or assisted by agents, counsel,
advocates or other advisors, whose names and proof of
authority to act shall be promptly notified by that party to the
Secretary-General ( "representative(s)" ).

Rule 3
General Duties
(1) The Tribunal and the parties shall conduct the proceeding in
good faith and in an expeditious and cost-effective manner.

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(2) The Tribunal shall treat the parties equally and provide each
party with a reasonable opportunity to present its case.

Rule 4
Method of Filing
(1) A document to be filed in the proceeding shall be filed with the
Secretary-General, who shall acknowledge its receipt.
(2) Documents shall be filed electronically. In special circumstances,
the Tribunal may order that documents also be filed in a
different format.

Rule 5
Supporting Documents
(1) Supporting documents, including witness statements, expert
reports, exhibits and legal authorities, shall be filed together with
the request, written submission, observations or communication
to which they relate.
(2) An extract of a document may be filed as a supporting document
if the extract is not misleading. The Tribunal or a party may
require a fuller extract or a complete version of the document.
(3) If the authenticity of a supporting document is disputed, the
Tribunal may order a party to provide a certified copy or to
make the original available for examination.

Rule 6
Routing of Documents
The Secretary-General shall transmit a document filed in the
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proceeding to:
(a) the other party, unless the parties communicate directly
with each other;
(b) the Tribunal, unless the parties communicate directly with
the Tribunal on request of the Tribunal or by agreement of
the parties; and
(c) the Chairman of the Administrative Council ( "Chair" ) if
applicable.

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Rule 7
Procedural Languages, Translation and Interpretation
(1) The parties may agree to use one or two procedural languages
in the proceeding. The parties shall consult with the Tribunal
and the Secretary-General regarding the use of a language
that is not an official language of the Centre. If the parties do
not agree on the procedural language(s), each party may select
one of the official languages of the Centre.
(2) In a proceeding with one procedural language:
(a) documents shall be filed and hearings shall be conducted in
that procedural language;
(b) documents in another language shall be accompanied by a
translation into that procedural language; and
(c) testimony in another language shall be interpreted into
that procedural language.
(3) In a proceeding with two procedural languages:
(a) documents may be filed and hearings may be conducted
in either procedural language, unless the Tribunal orders
that a document be filed in both procedural languages or
that a hearing be conducted with interpretation into both
procedural languages;
(b) documents in another language shall be accompanied by
a translation into either procedural language, unless the
Tribunal orders translation into both procedural languages;
(c) testimony in another language shall be interpreted into
either procedural language, unless the Tribunal orders
interpretation into both procedural languages;
(d) the Tribunal and the Secretary-General may communicate
in either procedural language; and
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(e) all orders, decisions and the Award shall be rendered in both
procedural languages, unless the parties agree otherwise.
(4) Translation of only the relevant part of a supporting document
is sufficient, unless the Tribunal orders a party to provide a
fuller or a complete translation. If the translation is disputed,
the Tribunal may order a party to provide a certified translation.

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Rule 8
Correction of Errors
A party may correct an accidental error in a document promptly upon
discovery and before the Award is rendered. The parties may refer
any dispute regarding a correction to the Tribunal for determination.

Rule 9
Calculation of Time Limits
(1) References to time shall be determined based on the time at
the seat of the Centre on the relevant date.
(2) Any time limit expressed as a period of time shall be calculated
from the day after the date on which:
(a) the Tribunal, or the Secretary-General if applicable, announces
the period; or
(b) the procedural step starting the period is taken.
(3) A time limit shall be satisfied if a procedural step is taken or a
document is received by the Secretary-General on the relevant
date, or on the subsequent business day if the date falls on a
Saturday or Sunday.

Rule 10
Fixing Time Limits
(1) The Tribunal, or the Secretary-General if applicable, shall fix
time limits for the completion of each procedural step in the
proceeding, other than time limits prescribed by the Convention
or these Rules.
(2) In fixing time limits pursuant to paragraph (1), the Tribunal, or the
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Secretary-General if applicable, shall consult with the parties as

far as possible.
(3) The Tribunal may delegate the power to fix time limits to its
President.

Rule 11
Extension of Time Limits Applicable to Parties
(1) The time limits in Articles 49, 51 and 52 of the Convention cannot
be extended. An application or request filed after the expiry of
such time limits shall be disregarded.

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(2) A time limit prescribed by the Convention or these Rules, other
than those referred to in paragraph (1), may only be extended by
agreement of the parties. A procedural step taken or document
received after the expiry of such time limit shall be disregarded,
unless the parties agree otherwise or the Tribunal decides that
there are special circumstances justifying the failure to meet
the time limit.
(3) A time limit fixed by the Tribunal or the Secretary-General may
be extended by agreement of the parties or the Tribunal, or the
Secretary-General if applicable, upon reasoned application by
either party made prior to its expiry. A procedural step taken
or document received after the expiry of such time limit shall
be disregarded, unless the parties agree otherwise or the
Tribunal, or the Secretary-General if applicable, decides that
there are special circumstances justifying the failure to meet
the time limit.
(4) The Tribunal may delegate the power to extend time limits to
its President.

Rule 12
Time Limits Applicable to the Tribunal
(1) The Tribunal shall use best efforts to meet time limits to render
orders, decisions and the Award.
(2) If the Tribunal cannot comply with an applicable time limit, it
shall advise the parties of the special circumstances justifying
the delay and the date when it anticipates rendering the order,
decision or Award.

CHAPTER II
ICSID ARBITRATION RULES

ESTABLISHMENT OF THE TRIBUNAL

Rule 13
General Provisions Regarding the Establishment
of the Tribunal
(1) The Tribunal shall be constituted without delay after registration
of the Request for arbitration.
(2) The majority of the arbitrators on a Tribunal shall be nationals
of States other than the State party to the dispute and the

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 State whose national is a party to the dispute, unless the
Sole Arbitrator or each individual member of the Tribunal is
appointed by agreement of the parties.
(3) A party may not appoint an arbitrator who is a national of the
State party to the dispute or the State whose national is a
party to the dispute without agreement of the other party.
(4) A person previously involved in the resolution of the dispute as
a conciliator, judge, mediator or in a similar capacity may be
appointed as an arbitrator only by agreement of the parties.

Rule 14
Notice of Third-Party Funding
(1) A party shall file a written notice disclosing the name and address
of any non-party from which the party, directly or indirectly,
has received funds for the pursuit or defense of the proceeding
through a donation or grant, or in return for remuneration
dependent on the outcome of the proceeding ( "third-party
funding" ). If the non-party providing funding is a juridical person,
the notice shall include the names of the persons and entities
that own and control that juridical person.
(2) A party shall file the notice referred to in paragraph (1) with
the Secretary-General upon registration of the Request for
arbitration, or immediately upon concluding a third-party
funding arrangement after registration. The party shall
immediately notify the Secretary-General of any changes to
the information in the notice.
(3) The Secretary-General shall transmit the notice of third-party
funding and any notification of changes to the information
in such notice to the parties and to any arbitrator proposed
for appointment or appointed in a proceeding for purposes of
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completing the arbitrator declaration required by Rule 19(3)(b).

(4) The Tribunal may order disclosure of further information
regarding the funding agreement and the non-party providing
funding pursuant to Rule 36(3).

Rule 15
Method of Constituting the Tribunal
(1) The number of arbitrators and the method of their appointment
must be determined before the Secretary-General can act on
any appointment proposed by a party.

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(2) The parties shall endeavor to agree on any uneven number of
arbitrators and the method of their appointment. If the parties
do not advise the Secretary-General of an agreement within
45 days after the date of registration, the Tribunal shall be
constituted in accordance with Article 37(2)(b) of the Convention.

Rule 16
Appointment of Arbitrators to a Tribunal Constituted
in Accordance with Article 37(2)(b) of the Convention
If the Tribunal is to be constituted in accordance with Article 37(2)(b)
of the Convention, each party shall appoint an arbitrator and the
parties shall jointly appoint the President of the Tribunal.

Rule 17
Assistance of the Secretary-General with Appointment
The parties may jointly request that the Secretary-General assist with
the appointment of the President of the Tribunal or a Sole Arbitrator.

Rule 18
Appointment of Arbitrators by the Chair
in Accordance with Article 38 of the Convention
(1) If the Tribunal has not been constituted within 90 days after
the date of registration, or such other period as the parties
may agree, either party may request that the Chair appoint
the arbitrator(s) who have not yet been appointed pursuant to
Article 38 of the Convention.
(2) The Chair shall appoint the President of the Tribunal after
appointing any members who have not yet been appointed.
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(3) The Chair shall consult with the parties as far as possible
before appointing an arbitrator and shall use best efforts to
appoint any arbitrator(s) within 30 days after receipt of the
request to appoint.

Rule 19
Acceptance of Appointment
(1) A party appointing an arbitrator shall notify the Secretary-
General of the appointment and provide the appointee’s name,
nationality and contact information.

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(2) Upon receipt of a notification pursuant to paragraph (1), the
Secretary-General shall request an acceptance from the
appointee and shall transmit to the appointee the information
received from the parties relevant to completion of the
declaration referred to in paragraph (3)(b).
(3) Within 20 days after receipt of the request for acceptance of
an appointment, the appointee shall:
(a) accept the appointment; and
(b) provide a signed declaration in the form published by the
Centre, addressing matters including the arbitrator’s
independence, impartiality, availability and commitment
to maintain the confidentiality of the proceeding.
(4) The Secretary-General shall notify the parties of the
acceptance of appointment by each arbitrator and transmit
the signed declaration to them.
(5) The Secretary-General shall notify the parties if an arbitrator
fails to accept the appointment or provide a signed declaration
within the time limit referred to in paragraph (3), and another
person shall be appointed as arbitrator in accordance with the
method followed for the previous appointment.
(6) Each arbitrator shall have a continuing obligation promptly to
disclose any change of circumstances relevant to the declaration
referred to in paragraph (3)(b).

Rule 20
Replacement of Arbitrators Prior to Constitution of the
Tribunal
(1) At any time before the Tribunal is constituted:
(a) an arbitrator may withdraw an acceptance;
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(b) a party may replace an arbitrator whom it appointed; or

(c) the parties may agree to replace any arbitrator.
(2) A replacement arbitrator shall be appointed as soon as possible,
in accordance with the method by which the withdrawing or
replaced arbitrator was appointed.

Rule 21
Constitution of the Tribunal
(1) The Tribunal shall be deemed to be constituted on the date the
Secretary-General notifies the parties that all the arbitrators

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 have accepted their appointments and signed the declaration
required by Rule 19(3)(b).
(2) As soon as the Tribunal is constituted, the Secretary-General
shall transmit the Request for arbitration, the supporting
documents, the notice of registration and communications
with the parties to each member.

CHAPTER III
DISQUALIFICATION OF ARBITRATORS
AND VACANCIES
Rule 22
Proposal for Disqualification of Arbitrators
(1) A party may file a proposal to disqualify one or more arbitrators
( "proposal" ) in accordance with the following procedure:
(a) the proposal shall be filed after the constitution of the
Tribunal and within 21 days after the later of:
(i) the constitution of the Tribunal; or
(ii) the date on which the party proposing the disqualification
first knew or first should have known of the facts on
which the proposal is based;
(b) the proposal shall include the grounds on which it is based,
a statement of the relevant facts, law and arguments, and
any supporting documents;
(c) the other party shall file its response and any supporting
documents within 21 days after receipt of the proposal;
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(d) the arbitrator to whom the proposal relates may file a

statement that is limited to factual information relevant to
the proposal. The statement shall be filed within five days
after the earlier of receipt of the response or expiry of the
time limit referred to in paragraph (1)(c); and
(e) each party may file a final written submission on the proposal
within seven days after the earlier of receipt of the statement
or expiry of the time limit referred to in paragraph (1)(d).
(2) The proceeding shall be suspended upon the filing of the
proposal until a decision on the proposal has been made, except
to the extent that the parties agree to continue the proceeding.

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Rule 23
Decision on the Proposal for Disqualification
(1) The decision on a proposal shall be made by the arbitrators
not subject to the proposal or by the Chair in accordance with
Article 58 of the Convention.
(2) For the purposes of Article 58 of the Convention:
(a) if the arbitrators not subject to a proposal are unable to decide
the proposal for any reason, they shall notify the Secretary-
General and they shall be considered equally divided;
(b) if a subsequent proposal is filed while the decision on a prior
proposal is pending, both proposals shall be decided by the
Chair as if they were a proposal to disqualify a majority of
the Tribunal.
(3) The arbitrators not subject to the proposal and the Chair shall
use best efforts to decide any proposal within 30 days after
the later of the expiry of the time limit referred to in Rule 22(1)(e)
or the notice in Rule 23(2)(a).

Rule 24
Incapacity or Failure to Perform Duties
If an arbitrator becomes incapacitated or fails to perform the duties
required of an arbitrator, the procedure in Rules 22 and 23 shall apply.

Rule 25
Resignation
(1) An arbitrator may resign by notifying the Secretary-General
and the other members of the Tribunal and providing reasons
for the resignation.
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(2) If the arbitrator was appointed by a party, the other members of

the Tribunal shall promptly notify the Secretary-General whether
they consent to the arbitrator’s resignation for the purposes of
Rule 26(3)(a).

Rule 26
Vacancy on the Tribunal
(1) The Secretary-General shall notify the parties of any vacancy
on the Tribunal.

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(2) The proceeding shall be suspended from the date of notice of
the vacancy until the vacancy is filled.
(3) A vacancy on the Tribunal shall be filled by the method used to
make the original appointment, except that the Chair shall fill
the following vacancies from the Panel of Arbitrators:
(a) a vacancy caused by the resignation of a party-appointed
arbitrator without the consent of the other members of the
Tribunal; or
(b) a vacancy that has not been filled within 45 days after the
notice of vacancy.
(4) Once a vacancy has been filled and the Tribunal has been
reconstituted, the proceeding shall continue from the point it
had reached at the time the vacancy was notified. Any portion
of a hearing shall be recommenced if the newly appointed
arbitrator considers it necessary to decide a pending matter.

CHAPTER IV
CONDUCT OF THE PROCEEDING
Rule 27
Orders and Decisions
(1) The Tribunal shall make the orders and decisions required for
the conduct of the proceeding.
(2) Orders and decisions may be made by any appropriate means of
communication, shall indicate the reasons upon which they are
made, and may be signed by the President on behalf of the Tribunal.
(3) The Tribunal shall consult with the parties prior to making an
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order or decision it is authorized by these Rules to make on its

own initiative.

Rule 28
Waiver
Subject to Article 45 of the Convention, if a party knows or should
have known that an applicable rule, agreement of the parties, or any
order or decision of the Tribunal or the Secretary-General has not been
complied with, and does not object promptly, then that party shall
be deemed to have waived its right to object to that non-compliance,
unless the Tribunal decides that there are special circumstances
justifying the failure to object promptly.

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Rule 29
First Session
(1) The Tribunal shall hold a first session to address the procedure,
including the matters listed in paragraph (4).
(2) The first session may be held in person or remotely, by any
means that the Tribunal deems appropriate. The agenda,
method and date of the first session shall be determined by
the President of the Tribunal after consulting with the other
members and the parties.
(3) The first session shall be held within 60 days after the
constitution of the Tribunal or such other period as the parties
may agree. If the President of the Tribunal determines that it
is not possible to convene the parties and the other members
within this period, the Tribunal shall decide whether to hold the
first session solely between the President of the Tribunal and
the parties, or solely among the Tribunal members based on
the parties’ written submissions.
(4) Before the first session, the Tribunal shall invite the parties’
views on procedural matters, including:
(a) the applicable arbitration rules;
(b) the division of advances payable pursuant to ICSID
Administrative and Financial Regulation 15;
(c) the procedural language(s), translation and interpretation;
(d) the method of filing and routing of documents;
(e) the number, length, type and format of written submissions;
(f) the place of hearings and whether a hearing will be held in
person or remotely;
(g) whether there will be requests for production of documents
as between the parties and, if so, the scope, timing and
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procedure for such requests;

(h) the procedural calendar;
(i) the manner of making recordings and transcripts of
hearings;
(j) the publication of documents and recordings;
(k) the treatment of confidential or protected information; and
(l) any other procedural matter raised by either party or the
Tribunal.
(5) The Tribunal shall issue an order recording the parties’
agreements and any Tribunal decisions on the procedure within

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 15 days after the later of the first session or the last written
submission on procedural matters addressed at the first
session.

Rule 30
Written Submissions
(1) The parties shall file the following written submissions:
(a) a memorial by the requesting party;
(b) a counter-memorial by the other party;
and, unless the parties agree otherwise:
(c) a reply by the requesting party; and
(d) a rejoinder by the other party.
(2) A memorial shall contain a statement of the relevant facts, law
and arguments, and the request for relief. A counter-memorial
shall contain a statement of the relevant facts, including an
admission or denial of facts stated in the memorial, and any
necessary additional facts, a statement of law in reply to the
memorial, arguments and the request for relief. A reply and
rejoinder shall be limited to responding to the previous written
submission and addressing any relevant facts that are new or
could not have been known prior to filing the reply or rejoinder.
(3) A party may file unscheduled written submissions, observations
or supporting documents only after obtaining leave of the
Tribunal, unless the filing of such documents is provided for by
the Convention or these Rules. The Tribunal may grant such
leave upon a timely and reasoned application if it finds such
written submissions, observations or supporting documents
are necessary in view of all relevant circumstances.
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Rule 31
Case Management Conferences
With a view to conducting an expeditious and cost-effective
proceeding, the Tribunal shall convene one or more case management
conferences with the parties at any time after the first session to:
(a) identify uncontested facts;
(b) clarify and narrow the issues in dispute; or
(c) address any other procedural or substantive issue related
to the resolution of the dispute.

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Rule 32
Hearings
(1) The Tribunal shall hold one or more hearings, unless the parties
agree otherwise.
(2) The President of the Tribunal shall determine the date, time
and method of holding a hearing after consulting with the
other members of the Tribunal and the parties.
(3) A hearing in person may be held at any place agreed to by the
parties after consulting with the Tribunal and the Secretary-
General. If the parties do not agree on the place of a hearing, it
shall be held at the seat of the Centre pursuant to Article 62 of
the Convention.
(4) Any member of the Tribunal may put questions to the parties
and ask for explanations at any time during a hearing.

Rule 33
Quorum
The participation of a majority of the members of the Tribunal
by any appropriate means of communication shall be required at
the first session, case management conferences, hearings and
deliberations, except as provided in these Rules or unless the parties
agree otherwise.

Rule 34
Deliberations
(1) The deliberations of the Tribunal shall take place in private and
remain confidential.
(2) The Tribunal may deliberate at any place and by any means it
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considers appropriate.
(3) The Tribunal may be assisted by the Secretary of the Tribunal
at its deliberations. No other person shall assist the Tribunal
at its deliberations, unless the Tribunal decides otherwise and
notifies the parties.
(4) The Tribunal shall deliberate on any matter for decision
immediately after the last submission on that matter.

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Rule 35
Decisions Made by Majority Vote
The Tribunal shall make decisions by a majority of the votes of all its
members. Abstention shall count as a negative vote.

CHAPTER V
EVIDENCE
Rule 36
Evidence: General Principles
(1) The Tribunal shall determine the admissibility and probative
value of the evidence adduced.
(2) Each party has the burden of proving the facts relied on to
support its claim or defense.
(3) The Tribunal may call upon a party to produce documents or
other evidence if it deems it necessary at any stage of the
proceeding.

Rule 37
Disputes Arising from Requests for
Production of Documents
In deciding a dispute arising out of a party’s objection to the other
party’s request for production of documents, the Tribunal shall
consider all relevant circumstances, including:
(a) the scope and timeliness of the request;
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(b) the relevance and materiality of the documents requested;

(c) the burden of production; and
(d) the basis of the objection.

Rule 38
Witnesses and Experts
(1) A party intending to rely on evidence given by a witness shall
file a written statement by that witness. The statement shall
identify the witness, contain the evidence of the witness, and
be signed and dated.

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(2) A witness who has filed a written statement may be called for
examination at a hearing.
(3) The Tribunal shall determine the manner in which the
examination is conducted.
(4) A witness shall be examined before the Tribunal, by the parties,
and under the control of the President. Any member of the
Tribunal may put questions to the witness.
(5) A witness shall be examined in person unless the Tribunal
determines that another means of examination is appropriate
in the circumstances.
(6) Each witness shall make the following declaration before
giving evidence: "I solemnly declare upon my honor and
conscience that I shall speak the truth, the whole truth, and
nothing but the truth."
(7) Paragraphs (1)-(5) shall apply, with necessary modifications, to
evidence given by an expert.
(8) Each expert shall make the following declaration before giving
evidence: "I solemnly declare upon my honor and conscience that
my statement will be in accordance with my sincere belief."

Rule 39
Tribunal-Appointed Experts
(1) Unless the parties agree otherwise, the Tribunal may appoint
one or more independent experts to report to it on specific
matters within the scope of the dispute.
(2) The Tribunal shall consult with the parties on the appointment
of an expert, including on the terms of reference and fees of the
expert.
(3) Upon accepting an appointment by the Tribunal, an expert
ICSID ARBITRATION RULES

shall provide a signed declaration in the form published by the

Centre.
(4) The parties shall provide the Tribunal-appointed expert with
any information, document or other evidence that the expert
may require. The Tribunal shall decide any dispute regarding
the evidence required by the Tribunal-appointed expert.
(5) The parties shall have the right to make submissions on the
report of the Tribunal-appointed expert.
(6) Rule 38 shall apply, with necessary modifications, to the
Tribunal-appointed expert.

ICSID CONVENTION, REGULATIONS AND RULES 108

Rule 40
Visits and Inquiries
(1) The Tribunal may order a visit to any place connected with
the dispute, on its own initiative or upon a party’s request, if it
deems the visit necessary, and may conduct inquiries there as
appropriate.
(2) The order shall define the scope of the visit and the subject of
any inquiry, the procedure to be followed, the applicable time
limits and other relevant terms.
(3) The parties shall have the right to participate in any visit or
inquiry.

CHAPTER VI
SPECIAL PROCEDURES
Rule 41
Manifest Lack of Legal Merit
(1) A party may object that a claim is manifestly without legal
merit. The objection may relate to the substance of the claim,
the jurisdiction of the Centre, or the competence of the Tribunal.
(2) The following procedure shall apply:
(a) a party shall file a written submission no later than 45 days
after the constitution of the Tribunal;
(b) the written submission shall specify the grounds on which
the objection is based and contain a statement of the
relevant facts, law and arguments;
(c) the Tribunal shall fix time limits for submissions on the
ICSID ARBITRATION RULES

objection;
(d) if a party files the objection before the constitution of
the Tribunal, the Secretary-General shall fix time limits
for written submissions on the objection, so that the
Tribunal may consider the objection promptly upon its
constitution; and
(e) the Tribunal shall render its decision or Award on the
objection within 60 days after the later of the constitution
of the Tribunal or the last submission on the objection.
(3) If the Tribunal decides that all claims are manifestly without
legal merit, it shall render an Award to that effect. Otherwise,

ICSID CONVENTION, REGULATIONS AND RULES 109

 the Tribunal shall issue a decision on the objection and fix any
time limit necessary for the further conduct of the proceeding.
(4) A decision that a claim is not manifestly without legal merit shall
be without prejudice to the right of a party to file a preliminary
objection pursuant to Rule 43 or to argue subsequently in the
proceeding that a claim is without legal merit.

Rule 42
Bifurcation
(1) A party may request that a question be addressed in a separate
phase of the proceeding ( "request for bifurcation" ).
(2) If a request for bifurcation relates to a preliminary objection,
Rule 44 shall apply.
(3) The following procedure shall apply to a request for bifurcation
other than a request referred to in Rule 44:
(a) the request for bifurcation shall be filed as soon as possible;
(b) the request for bifurcation shall state the questions to be
bifurcated;
(c) the Tribunal shall fix time limits for submissions on the
request for bifurcation;
(d) the Tribunal shall issue its decision on the request for
bifurcation within 30 days after the last submission on the
request; and
(e) the Tribunal shall fix any time limit necessary for the further
conduct of the proceeding.
(4) In determining whether to bifurcate, the Tribunal shall consider
all relevant circumstances, including whether:
(a) bifurcation would materially reduce the time and cost of
ICSID ARBITRATION RULES

the proceeding;
(b) determination of the questions to be bifurcated would
dispose of all or a substantial portion of the dispute; and
(c) the questions to be addressed in separate phases of the
proceeding are so intertwined as to make bifurcation
impractical.
(5) If the Tribunal orders bifurcation pursuant to this Rule, it shall
suspend the proceeding with respect to any questions to be
addressed at a later phase, unless the parties agree otherwise.
(6) The Tribunal may at any time on its own initiative decide
whether a question should be addressed in a separate phase of
the proceeding.

ICSID CONVENTION, REGULATIONS AND RULES 110

Rule 43
Preliminary Objections
(1) A party may file a preliminary objection that the dispute or any
ancillary claim is not within the jurisdiction of the Centre or
for other reasons is not within the competence of the Tribunal
( "preliminary objection" ).
(2) A party shall notify the Tribunal and the other party of its
intent to file a preliminary objection as soon as possible.
(3) The Tribunal may at any time on its own initiative consider
whether a dispute or an ancillary claim is within the jurisdiction
of the Centre or within its own competence.
(4) The Tribunal may address a preliminary objection in a separate
phase of the proceeding or join the objection to the merits. It
may do so upon request of a party pursuant to Rule 44 or at
any time on its own initiative, in accordance with the procedure
in Rule 44(2)-(4).

Rule 44
Preliminary Objections with a Request for Bifurcation
(1) The following procedure shall apply with respect to a request
for bifurcation relating to a preliminary objection:
(a) unless the parties agree otherwise, the request for
bifurcation shall be filed:
(i) within 45 days after filing the memorial on the merits;
(ii) within 45 days after filing the written submission
containing the ancillary claim, if the objection relates to
the ancillary claim; or
(iii) as soon as possible after the facts on which the
ICSID ARBITRATION RULES

preliminary objection is based become known to a

party, if those facts were unknown to that party on
the dates referred to in paragraph (1)(a)(i) and (ii);
(b) the request for bifurcation shall state the preliminary objection
to which it relates;
(c) unless the parties agree otherwise, the proceeding on the
merits shall be suspended until the Tribunal decides whether
to bifurcate;
(d) the Tribunal shall fix time limits for submissions on the request
for bifurcation; and
(e) the Tribunal shall issue its decision on a request for bifurcation
within 30 days after the last submission on the request.

ICSID CONVENTION, REGULATIONS AND RULES 111

(2) In determining whether to bifurcate, the Tribunal shall consider
all relevant circumstances, including whether:
(a) bifurcation would materially reduce the time and cost of
the proceeding;
(b) determination of the preliminary objection would dispose
of all or a substantial portion of the dispute; and
(c) the preliminary objection and the merits are so intertwined
as to make bifurcation impractical.
(3) If the Tribunal decides to address the preliminary objection in a
separate phase of the proceeding, it shall:
(a) suspend the proceeding on the merits, unless the parties
agree otherwise;
(b) fix time limits for submissions on the preliminary objection;
(c) render its decision or Award on the preliminary objection
within 180 days after the last submission, in accordance
with Rule 58(1)(b); and
(d) fix any time limit necessary for the further conduct of the
proceeding if the Tribunal does not render an Award.
(4) If the Tribunal decides to join the preliminary objection to the
merits, it shall:
(a) fix time limits for submissions on the preliminary objection;
(b) modify any time limits for submissions on the merits, as
required; and
(c) render its Award within 240 days after the last submission
in the proceeding, in accordance with Rule 58(1)(c).

Rule 45
Preliminary Objections without a Request for Bifurcation
ICSID ARBITRATION RULES

If a party does not request bifurcation of a preliminary objection

within the time limits referred to in Rule 44(1)(a) or the parties
confirm that they will not request bifurcation, the preliminary
objection shall be joined to the merits and the following procedure
shall apply:
(a) the Tribunal shall fix time limits for submissions on the
preliminary objection;
(b) the memorial on the preliminary objection shall be filed:
(i) by the date to file the counter-memorial on the merits;

ICSID CONVENTION, REGULATIONS AND RULES 112

 (ii) by the date to file the next written submission after an
ancillary claim, if the objection relates to the ancillary
claim; or
(iii) as soon as possible after the facts on which the
objection is based become known to a party, if those
facts were unknown to that party on the dates referred
to in paragraph (b)(i) and (ii);
(c) the party filing the memorial on preliminary objections
shall also file its counter-memorial on the merits, or, if the
objection relates to an ancillary claim, file its next written
submission after the ancillary claim; and
(d) the Tribunal shall render its Award within 240 days after
the last submission in the proceeding, in accordance with
Rule 58(1)(c).

Rule 46
Consolidation or Coordination of Arbitrations
(1) Parties to two or more pending arbitrations administered by the
Centre may agree to consolidate or coordinate these arbitrations.
(2) Consolidation joins all aspects of the arbitrations sought to
be consolidated and results in one Award. To be consolidated
pursuant to this Rule, the arbitrations shall have been registered
in accordance with the Convention and shall involve the same
Contracting State (or constituent subdivision or agency of the
Contracting State).
(3) Coordination aligns specific procedural aspects of two or more
pending arbitrations, but the arbitrations remain separate
proceedings and result in separate Awards.
(4) The parties referred to in paragraph (1) shall jointly provide
the Secretary-General with proposed terms for the conduct of
ICSID ARBITRATION RULES

the consolidated or coordinated arbitrations and consult with

the Secretary-General to ensure that the proposed terms are
capable of being implemented.
(5) After the consultation referred to in paragraph (4), the
Secretary-General shall communicate the proposed terms
agreed by the parties to the Tribunals constituted in the
arbitrations. Such Tribunals shall make any order or decision
required to implement these terms.

ICSID CONVENTION, REGULATIONS AND RULES 113

Rule 47
Provisional Measures
(1) A party may at any time request that the Tribunal recommend
provisional measures to preserve that party’s rights, including
measures to:
(a) prevent action that is likely to cause current or imminent
harm to that party or prejudice to the arbitral process;
(b) maintain or restore the status quo pending determination
of the dispute; or
(c) preserve evidence that may be relevant to the resolution of
the dispute.
(2) The following procedure shall apply:
(a) the request shall specify the rights to be preserved, the
measures requested, and the circumstances that require
such measures;
(b) the Tribunal shall fix time limits for submissions on the request;
(c) if a party requests provisional measures before the
constitution of the Tribunal, the Secretary-General shall fix
time limits for written submissions on the request so that
the Tribunal may consider the request promptly upon its
constitution; and
(d) the Tribunal shall issue its decision on the request within
30 days after the later of the constitution of the Tribunal or
the last submission on the request.
(3) In deciding whether to recommend provisional measures, the
Tribunal shall consider all relevant circumstances, including:
(a) whether the measures are urgent and necessary; and
(b) the effect that the measures may have on each party.
ICSID ARBITRATION RULES

(4) The Tribunal may recommend provisional measures on its

own initiative. The Tribunal may also recommend provisional
measures different from those requested by a party.
(5) A party shall promptly disclose any material change in
the circumstances upon which the Tribunal recommended
provisional measures.
(6) The Tribunal may at any time modify or revoke the provisional
measures, on its own initiative or upon a party’s request.
(7) A party may request any judicial or other authority to order
provisional measures if such recourse is permitted by the
instrument recording the parties’ consent to arbitration.

ICSID CONVENTION, REGULATIONS AND RULES 114

Rule 48
Ancillary Claims
(1) Unless the parties agree otherwise, a party may file an incidental
or additional claim or a counterclaim ( "ancillary claim" ) arising
directly out of the subject-matter of the dispute, provided that
such ancillary claim is within the scope of the consent of the
parties and the jurisdiction of the Centre.
(2) An incidental or additional claim shall be presented no later
than in the reply, and a counterclaim shall be presented no
later than in the counter-memorial, unless the Tribunal decides
otherwise.
(3) The Tribunal shall fix time limits for submissions on the ancillary
claim.

Rule 49
Default
(1) A party is in default if it fails to appear or present its case or
indicates that it will not appear or present its case.
(2) If a party is in default at any stage of the proceeding, the other
party may request that the Tribunal address the questions
submitted to it and render an Award.
(3) Upon receipt of the request referred to in paragraph (2), the
Tribunal shall notify the defaulting party of the request and
grant a grace period to cure the default, unless it is satisfied
that the defaulting party does not intend to appear or present
its case. The grace period shall not exceed 60 days without the
consent of the other party.
(4) If the request in paragraph (2) relates to a failure to appear at
a hearing, the Tribunal may:
ICSID ARBITRATION RULES

(a) reschedule the hearing to a date within 60 days after the

original date;
(b) proceed with the hearing in the absence of the defaulting
party and fix a time limit for the defaulting party to file a
written submission within 60 days after the hearing; or
(c) cancel the hearing and fix a time limit for the parties to file
written submissions within 60 days after the original date
of the hearing.
(5) If the default relates to a scheduled procedural step other than
a hearing, the Tribunal may set the grace period to cure the
default by fixing a new time limit for the defaulting party to

ICSID CONVENTION, REGULATIONS AND RULES 115

 complete that step within 60 days after the date of the notice
of default referred to in paragraph (3).
(6) If the defaulting party fails to act within the grace period or if no
such period is granted, the Tribunal shall resume consideration
of the dispute and render an Award. For this purpose:
(a) a party’s default shall not be deemed an admission of the
assertions made by the other party;
(b) the Tribunal may invite the party that is not in default to
make submissions and produce evidence; and
(c) the Tribunal shall examine the jurisdiction of the Centre and
its own competence and, if it is satisfied, decide whether
the submissions made are well-founded.

CHAPTER VII
COSTS
Rule 50
Costs of the Proceeding
The costs of the proceeding are all costs incurred by the parties in
connection with the proceeding, including:
(a) the legal fees and expenses of the parties;
(b) the fees and expenses of the Tribunal, Tribunal assistants
approved by the parties and Tribunal-appointed experts; and
(c) the administrative charges and direct costs of the Centre.

Rule 51
ICSID ARBITRATION RULES

Statement of and Submission on Costs

The Tribunal shall request that each party file a statement of its
costs and a written submission on the allocation of costs before
allocating the costs between the parties.

Rule 52
Decisions on Costs
(1) In allocating the costs of the proceeding, the Tribunal shall
consider all relevant circumstances, including:

ICSID CONVENTION, REGULATIONS AND RULES 116

 (a) the outcome of the proceeding or any part of it;
(b) the conduct of the parties during the proceeding, including
the extent to which they acted in an expeditious and cost-
effective manner and complied with these Rules and the
orders and decisions of the Tribunal;
(c) the complexity of the issues; and
(d) the reasonableness of the costs claimed.
(2) If the Tribunal renders an Award pursuant to Rule 41(3), it
shall award the prevailing party its reasonable costs, unless
the Tribunal determines that there are special circumstances
justifying a different allocation of costs.
(3) The Tribunal may make an interim decision on costs at any time,
on its own initiative or upon a party’s request.
(4) The Tribunal shall ensure that all decisions on costs are
reasoned and form part of the Award.

Rule 53
Security for Costs
(1) Upon request of a party, the Tribunal may order any party
asserting a claim or counterclaim to provide security for costs.
(2) The following procedure shall apply:
(a) the request shall include a statement of the relevant
circumstances and the supporting documents;
(b) the Tribunal shall fix time limits for submissions on the request;
(c) if a party requests security for costs before the constitution
of the Tribunal, the Secretary-General shall fix time limits for
written submissions on the request so that the Tribunal may
consider the request promptly upon its constitution; and
ICSID ARBITRATION RULES

(d) the Tribunal shall issue its decision on the request within
30 days after the later of the constitution of the Tribunal or
the last submission on the request.
(3) In determining whether to order a party to provide security for
costs, the Tribunal shall consider all relevant circumstances,
including:
(a) that party’s ability to comply with an adverse decision on
costs;
(b) that party’s willingness to comply with an adverse decision
on costs;

ICSID CONVENTION, REGULATIONS AND RULES 117

 (c) the effect that providing security for costs may have on
that party’s ability to pursue its claim or counterclaim; and
(d) the conduct of the parties.
(4) The Tribunal shall consider all evidence adduced in relation to
the circumstances in paragraph (3), including the existence of
third-party funding.
(5) The Tribunal shall specify any relevant terms in an order
to provide security for costs and shall fix a time limit for
compliance with the order.
(6) If a party fails to comply with an order to provide security
for costs, the Tribunal may suspend the proceeding. If the
proceeding is suspended for more than 90 days, the Tribunal
may, after consulting with the parties, order the discontinuance
of the proceeding.
(7) A party shall promptly disclose any material change in the
circumstances upon which the Tribunal ordered security for costs.
(8) The Tribunal may at any time modify or revoke its order on security
for costs, on its own initiative or upon a party’s request.

CHAPTER VIII
SUSPENSION, SETTLEMENT AND
DISCONTINUANCE
Rule 54
Suspension of the Proceeding
(1) The Tribunal shall suspend the proceeding by agreement of the
ICSID ARBITRATION RULES

parties.
(2) The Tribunal may suspend the proceeding upon the request
of either party or on its own initiative, except as otherwise
provided in the ICSID Administrative and Financial Regulations
or these Rules.
(3) The Tribunal shall give the parties the opportunity to make
observations before ordering a suspension pursuant to
paragraph (2).
(4) In its order suspending the proceeding, the Tribunal shall specify:
(a) the period of the suspension;

ICSID CONVENTION, REGULATIONS AND RULES 118

 (b) any relevant terms; and
(c) a modified procedural calendar to take effect on resumption
of the proceeding, if necessary.
(5) The Tribunal shall extend the period of a suspension prior to its
expiry by agreement of the parties.
(6) The Tribunal may extend the period of a suspension prior to
its expiry, on its own initiative or upon a party’s request, after
giving the parties an opportunity to make observations.
(7) The Secretary-General shall suspend the proceeding pursuant
to paragraph (1) or extend the suspension pursuant to
paragraph (5) if the Tribunal has not yet been constituted or
if there is a vacancy on the Tribunal. The parties shall inform
the Secretary-General of the period of the suspension and any
terms agreed to by the parties.

Rule 55
Settlement and Discontinuance by Agreement
of the Parties
(1) If the parties notify the Tribunal that they have agreed to
discontinue the proceeding, the Tribunal shall issue an order
taking note of the discontinuance.
(2) If the parties agree on a settlement of the dispute before the
Award is rendered, the Tribunal:
(a) shall issue an order taking note of the discontinuance of the
proceeding, if the parties so request; or
(b) may record the settlement in the form of an Award, if the
parties file the complete and signed text of their settlement
and request that the Tribunal embody such settlement in
an Award.
ICSID ARBITRATION RULES

(3) The Secretary-General shall issue the order referred to in

paragraphs (1) and (2)(a) if the Tribunal has not yet been
constituted or if there is a vacancy on the Tribunal.

Rule 56
Discontinuance at Request of a Party
(1) If a party requests the discontinuance of the proceeding, the
Tribunal shall fix a time limit within which the other party may
oppose the discontinuance. If no objection in writing is made
within the time limit, the other party shall be deemed to have

ICSID CONVENTION, REGULATIONS AND RULES 119

 acquiesced in the discontinuance and the Tribunal shall issue
an order taking note of the discontinuance of the proceeding.
If any objection in writing is made within the time limit, the
proceeding shall continue.
(2) The Secretary-General shall fix the time limit and issue the
order referred to in paragraph (1) if the Tribunal has not yet
been constituted or if there is a vacancy on the Tribunal.

Rule 57
Discontinuance for Failure of Parties to Act
(1) If the parties fail to take any steps in the proceeding for more
than 150 consecutive days, the Tribunal shall notify them of
the time elapsed since the last step taken in the proceeding.
(2) If the parties fail to take a step within 30 days after the notice
referred to in paragraph (1), they shall be deemed to have
discontinued the proceeding and the Tribunal shall issue an
order taking note of the discontinuance.
(3) If either party takes a step within 30 days after the notice
referred to in paragraph (1), the proceeding shall continue.
(4) The Secretary-General shall issue the notice and the order
referred to in paragraphs (1) and (2) if the Tribunal has not yet
been constituted or if there is a vacancy on the Tribunal.

CHAPTER IX
THE AWARD
Rule 58
ICSID ARBITRATION RULES

Timing of the Award

(1) The Tribunal shall render the Award as soon as possible, and in
any event no later than:
(a) 60 days after the later of the Tribunal constitution or the last
submission, if the Award is rendered pursuant to Rule 41(3);
(b) 180 days after the last submission if the Award is rendered
pursuant to Rule 44(3)(c); or
(c) 240 days after the last submission in all other cases.
(2) A statement of costs and submission on costs filed pursuant to
Rule 51 shall not be considered a submission for the purposes of
paragraph (1).

ICSID CONVENTION, REGULATIONS AND RULES 120

Rule 59
Contents of the Award
(1) The Award shall be in writing and shall contain:
(a) a precise designation of each party;
(b) the names of the representatives of the parties;
(c) a statement that the Tribunal was established in accordance
with the Convention and a description of the method of its
constitution;
(d) the name of each member of the Tribunal and the appointing
authority of each;
(e) the date and place of the first session, case management
conferences and hearings;
(f) a brief summary of the proceeding;
(g) a statement of the relevant facts as found by the Tribunal;
(h) a brief summary of the submissions of the parties, including
the relief sought;
(i) the decision of the Tribunal on every question submitted to
it, and the reasons on which the Award is based; and
(j) a statement of the costs of the proceeding, including the
fees and expenses of each member of the Tribunal, and a
reasoned decision on costs.
(2) The Award shall be signed by the members of the Tribunal who
voted for it. It may be signed by electronic means if the parties
agree.
(3) Any member of the Tribunal may attach an individual opinion or a
statement of dissent to the Award before the Award is rendered. ICSID ARBITRATION RULES

Rule 60
Rendering of the Award
(1) Once the Award has been signed by the members of the Tribunal
who voted for it, the Secretary-General shall promptly:
(a) dispatch a certified copy of the Award to each party, together
with any individual opinion and statement of dissent,
indicating the date of dispatch on the Award; and
(b) deposit the Award in the archives of the Centre, together
with any individual opinion and statement of dissent.
(2) The Award shall be deemed to have been rendered on the date
of dispatch of certified copies of the Award.

ICSID CONVENTION, REGULATIONS AND RULES 121

(3) The Secretary-General shall provide additional certified copies
of the Award to a party upon request.

Rule 61
Supplementary Decision and Rectification
(1) A party requesting a supplementary decision on, or the
rectification of, an Award pursuant to Article 49(2) of the
Convention shall file the request with the Secretary-General
and pay the lodging fee published in the schedule of fees within
45 days after the Award was rendered.
(2) The request referred to in paragraph (1) shall:
(a) identify the Award to which it relates;
(b) be signed by each requesting party or its representative
and be dated;
(c) specify:
(i) with respect to a request for a supplementary decision,
any question which the Tribunal omitted to decide in
the Award;
(ii) with respect to a request for rectification, any clerical,
arithmetical or similar error in the Award; and
(d) attach proof of payment of the lodging fee.
(3) Upon receipt of the request and the lodging fee, the Secretary-
General shall promptly:
(a) transmit the request to the other party;
(b) register the request, or refuse registration if the request is
not filed or the fee is not paid within the time limit referred
to in paragraph (1); and
(c) notify the parties of the registration or refusal to register.
ICSID ARBITRATION RULES

(4) As soon as the request is registered, the Secretary-General

shall transmit the request and the notice of registration to
each member of the Tribunal.
(5) The President of the Tribunal shall determine the procedure to
consider the request, after consulting with the other members
of the Tribunal and the parties.
(6) Rules 59-60 shall apply to any decision of the Tribunal pursuant
to this Rule.
(7) The Tribunal shall issue a decision on the request for supplementary
decision or rectification within 60 days after the last submission
on the request.

ICSID CONVENTION, REGULATIONS AND RULES 122

(8) The date of dispatch of certified copies of the supplementary
decision or rectification shall be the relevant date for the
purposes of calculating the time limits in Articles 51(2) and 52(2)
of the Convention.
(9) A supplementary decision or rectification under this Rule shall
become part of the Award and shall be reflected on all certified
copies of the Award.

CHAPTER X
PUBLICATION, ACCESS TO
PROCEEDINGS AND NON-DISPUTING
PARTY SUBMISSIONS
Rule 62
Publication of Awards and Decisions on Annulment
(1) With consent of the parties, the Centre shall publish every Award,
supplementary decision on an Award, rectification, interpretation,
and revision of an Award, and decision on annulment.
(2) The parties may consent to publication of the full text or to a jointly
redacted text of the documents referred to in paragraph (1).
(3) Consent to publish the documents referred to in paragraph (1)
shall be deemed to have been given if no party objects in writing
to such publication within 60 days after the dispatch of the
document.
(4) Absent consent of the parties pursuant to paragraphs (1)-(3),
the Centre shall publish excerpts of the documents referred
to in paragraph (1). The following procedure shall apply to
ICSID ARBITRATION RULES

publication of excerpts:
(a) the Secretary-General shall propose excerpts to the parties
within 60 days after the date upon which either party objects
to publication or notifies the Secretary-General that the
parties disagree on redaction of the document;
(b) the parties may send comments on the proposed excerpts
to the Secretary-General within 60 days after their receipt,
including whether any information in the proposed excerpts
is confidential or protected as defined in Rule 66; and
(c) the Secretary-General shall consider any comments received
on the proposed excerpts and publish such excerpts within 30
days after the expiry of the time limit referred to in paragraph (4)(b).

ICSID CONVENTION, REGULATIONS AND RULES 123

Rule 63
Publication of Orders and Decisions
(1) The Centre shall publish orders and decisions, with any redactions
agreed to by the parties and jointly notified to the Secretary-
General within 60 days after the order or decision is issued.
(2) If either party notifies the Secretary-General within the 60-day
period referred to in paragraph (1) that the parties disagree
on any proposed redactions, the Secretary-General shall refer
the order or decision to the Tribunal to decide any disputed
redactions. The Centre shall publish the order or decision in
accordance with the decision of the Tribunal.
(3) In deciding a dispute pursuant to paragraph (2), the Tribunal
shall ensure that publication does not disclose any confidential
or protected information as defined in Rule 66.

Rule 64
Publication of Documents Filed in the Proceeding
(1) With consent of the parties, the Centre shall publish any
written submission or supporting document filed by a party in
the proceeding, with any redactions agreed to by the parties
and jointly notified to the Secretary-General.
(2) Absent consent of the parties pursuant to paragraph (1), a party
may refer to the Tribunal a dispute regarding the redaction of
a written submission, excluding supporting documents, that it
filed in the proceeding. The Tribunal shall decide any disputed
redactions and the Centre shall publish the written submission
in accordance with the decision of the Tribunal.
(3) In deciding a dispute pursuant to paragraph (2), the Tribunal
shall ensure that publication does not disclose any confidential
ICSID ARBITRATION RULES

or protected information as defined in Rule 66.

Rule 65
Observation of Hearings
(1) The Tribunal shall allow persons in addition to the parties, their
representatives, witnesses and experts during their testimony,
and persons assisting the Tribunal, to observe hearings, unless
either party objects.
(2) The Tribunal shall establish procedures to prevent the disclosure
of confidential or protected information as defined in Rule 66 to
persons observing the hearings.

ICSID CONVENTION, REGULATIONS AND RULES 124

(3) Upon request of a party, the Centre shall publish recordings or
transcripts of hearings, unless the other party objects.

Rule 66
Confidential or Protected Information
For the purposes of Rules 62-65, confidential or protected
information is information which is protected from public disclosure:
(a) by the instrument of consent to arbitration;
(b) by the applicable law or applicable rules;
(c) in the case of information of a State party to the dispute,
by the law of that State;
(d) in accordance with the orders and decisions of the Tribunal;
(e) by agreement of the parties;
(f) because it constitutes confidential business information or
protected personal information;
(g) because public disclosure would impede law enforcement;
(h) because a State party to the dispute considers that public
disclosure would be contrary to its essential security
interests;
(i) because public disclosure would aggravate the dispute
between the parties; or
(j) because public disclosure would undermine the integrity of
the arbitral process.

Rule 67
Submission of Non-Disputing Parties
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(1) Any person or entity that is not a party to the dispute ( "non-
disputing party" ) may apply for permission to file a written
submission in the proceeding. The application shall be made in
the procedural language(s) used in the proceeding.
(2) In determining whether to permit a non-disputing party submission,
the Tribunal shall consider all relevant circumstances, including:
(a) whether the submission would address a matter within the
scope of the dispute;
(b) how the submission would assist the Tribunal to determine a
factual or legal issue related to the proceeding by bringing a
perspective, particular knowledge or insight that is different
from that of the parties;

ICSID CONVENTION, REGULATIONS AND RULES 125

 (c) whether the non-disputing party has a significant interest
in the proceeding;
(d) the identity, activities, organization and ownership of
the non-disputing party, including any direct or indirect
affiliation between the non-disputing party, a party or a
non-disputing Treaty Party; and
(e) whether any person or entity will provide the non-disputing
party with financial or other assistance to file the submission.
(3) The parties shall have the right to make observations on
whether a non-disputing party should be permitted to file a
written submission in the proceeding and on any conditions
for filing such a submission.
(4) The Tribunal shall ensure that non-disputing party participation
does not disrupt the proceeding or unduly burden or unfairly
prejudice either party. To this end, the Tribunal may impose
conditions on the non-disputing party, including with respect
to the format, length, scope or publication of the written
submission and the time limit to file the submission.
(5) The Tribunal shall issue a reasoned decision on whether to
permit a non-disputing party submission within 30 days after
the last written submission on the application.
(6) The Tribunal shall provide the non-disputing party with relevant
documents filed in the proceeding, unless either party objects.
(7) If the Tribunal permits a non-disputing party to file a
written submission, the parties shall have the right to make
observations on the submission.

Rule 68
Participation of Non-Disputing Treaty Party
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(1) The Tribunal shall permit a Party to a treaty that is not a

party to the dispute ( "non-disputing Treaty Party" ) to make
a submission on the interpretation of the treaty at issue in the
dispute and upon which consent to arbitration is based. The
Tribunal may, after consulting with the parties, invite a non-
disputing Treaty Party to make such a submission.
(2) The Tribunal shall ensure that non-disputing Treaty Party
participation does not disrupt the proceeding or unduly burden
or unfairly prejudice either party. To this end, the Tribunal may
impose conditions on the making of the submission by the non-
disputing Treaty Party, including with respect to the format,
length, scope or publication of the submission, and the time
limit to file the submission.

ICSID CONVENTION, REGULATIONS AND RULES 126

(3) The Tribunal shall provide the non-disputing Treaty Party
with relevant documents filed in the proceeding, unless either
party objects.
(4) The parties shall have the right to make observations on the
submission of the non-disputing Treaty Party.

CHAPTER XI
INTERPRETATION, REVISION AND
ANNULMENT OF THE AWARD
Rule 69
The Application
(1) A party applying for interpretation, revision or annulment of
an Award shall file the application with the Secretary-General,
together with any supporting documents, and pay the lodging
fee published in the schedule of fees.
(2) The application shall:
(a) identify the Award to which it relates;
(b) be in a language in which the Award was rendered or if
the Award was not rendered in an official language of the
Centre, be in an official language;
(c) be signed by each applicant or its representative and be dated;
(d) attach proof of any representative’s authority to act; and
(e) attach proof of payment of the lodging fee.
(3) An application for interpretation pursuant to Article 50(1) of
the Convention may be filed at any time after the Award is
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rendered and shall specify the points in dispute concerning the

meaning or scope of the Award.
(4) An application for revision pursuant to Article 51(1) of the
Convention shall be filed within 90 days after the discovery
of a fact of such a nature as decisively to affect the Award,
and in any event within three years after the Award (or any
supplementary decision on or rectification of the Award) was
rendered. The application shall specify:
(a) the change sought in the Award;
(b) the newly discovered fact that decisively affects the Award; and

ICSID CONVENTION, REGULATIONS AND RULES 127

 (c) that the fact was unknown to the Tribunal and to the applicant
when the Award was rendered, and that the applicant’s
ignorance of that fact was not due to negligence.
(5) An application for annulment pursuant to Article 52(1) of the
Convention shall:
(a) be filed within 120 days after the Award (or any
supplementary decision on or rectification of the Award)
was rendered if the application is based on any of the
grounds in Article 52(1)(a), (b), (d) or (e) of the Convention; or
(b) be filed within 120 days after the discovery of corruption
on the part of a member of the Tribunal and in any event
within three years after the Award (or any supplementary
decision on or rectification of the Award) was rendered, if the
application is based on Article 52(1)(c) of the Convention; and
(c) specify the grounds on which it is based, limited to the
grounds in Article 52(1)(a)-(e) of the Convention, and the
reasons in support of each ground.
(6) Upon receipt of an application and the lodging fee, the
Secretary-General shall promptly:
(a) transmit the application and the supporting documents to
the other party;
(b) register the application, or refuse registration if the
application is not filed or the fee is not paid within the time
limits referred to in paragraphs (4) or (5); and
(c) notify the parties of the registration or refusal to register.
(7) At any time before registration, an applicant may notify the
Secretary-General in writing of the withdrawal of the application
or, if there is more than one applicant, that it is withdrawing from
the application. The Secretary-General shall promptly notify the
parties of the withdrawal, unless the application has not yet been
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transmitted to the other party pursuant to paragraph (6)(a).

Rule 70
Interpretation or Revision: Reconstitution
of the Tribunal
(1) As soon as an application for the interpretation or revision of
an Award is registered, the Secretary-General shall:
(a) transmit the notice of registration, the application and
any supporting documents to each member of the original
Tribunal; and

ICSID CONVENTION, REGULATIONS AND RULES 128

 (b) request each member of the Tribunal to inform the Secretary-
General within 10 days whether that member can take part
in the consideration of the application.
(2) If all members of the Tribunal can take part in the consideration
of the application, the Secretary-General shall notify the
Tribunal and the parties of the reconstitution of the Tribunal.
(3) If the Tribunal cannot be reconstituted in accordance with
paragraph (2), the Secretary-General shall invite the parties
to constitute a new Tribunal without delay. The new Tribunal
shall have the same number of arbitrators and be appointed
by the same method as the original Tribunal.

Rule 71
Annulment: Appointment of the ad hoc Committee
(1) As soon as an application for annulment of an Award is registered,
the Chair shall appoint an ad hoc Committee in accordance with
Article 52(3) of the Convention.
(2) Each member of the Committee shall provide a signed
declaration in accordance with Rule 19(3).
(3) The Committee shall be deemed to be constituted on the date
the Secretary-General notifies the parties that all members have
accepted their appointments.

Rule 72
Procedure Applicable to Interpretation, Revision and
Annulment
(1) Except as provided below, these Rules shall apply, with necessary
modifications, to any procedure relating to the interpretation,
revision or annulment of an Award and to the decision of the
ICSID ARBITRATION RULES

Tribunal or Committee.
(2) The procedural agreements and orders on matters addressed
at the first session of the original Tribunal shall continue to
apply to an interpretation, revision or annulment proceeding,
with necessary modifications, unless the parties agree or the
Tribunal or Committee orders otherwise.
(3) In addition to the application, the written procedure shall
consist of one round of written submissions in an interpretation
or revision proceeding, and two rounds of written submissions
in an annulment proceeding, unless the parties agree or the
Tribunal or Committee orders otherwise.

ICSID CONVENTION, REGULATIONS AND RULES 129

(4) A hearing shall be held upon the request of either party, or if
ordered by the Tribunal or Committee.
(5) The Tribunal or Committee shall issue its decision within 120
days after the last submission on the application.

Rule 73
Stay of Enforcement of the Award
(1) A party to an interpretation, revision or annulment proceeding
may request a stay of enforcement of all or part of the Award
at any time before the final decision on the application.
(2) If the stay is requested in the application for revision or annulment
of an Award, enforcement shall be stayed provisionally until the
Tribunal or Committee decides on the request.
(3) The following procedure shall apply:
(a) the request shall specify the circumstances that require
the stay;
(b) the Tribunal or Committee shall fix time limits for submissions
on the request;
(c) if a party files the request before the constitution of the
Tribunal or Committee, the Secretary-General shall fix time
limits for written submissions on the request so that the
Tribunal or Committee may consider the request promptly
upon its constitution; and
(d) the Tribunal or Committee shall issue its decision on the
request within 30 days after the later of the constitution of the
Tribunal or Committee or the last submission on the request.
(4) If a Tribunal or Committee decides to stay enforcement of the
Award, it may impose conditions for the stay, or for lifting the
stay, in view of all relevant circumstances.
ICSID ARBITRATION RULES

(5) A party shall promptly disclose to the Tribunal or Committee

any change in the circumstances upon which the enforcement
was stayed.
(6) The Tribunal or Committee may at any time modify or terminate a
stay of enforcement, on its own initiative or upon a party’s request.
(7) A stay of enforcement shall terminate on the date of dispatch
of the decision on the application for interpretation, revision or
annulment, or on the date of discontinuance of the proceeding.

ICSID CONVENTION, REGULATIONS AND RULES 130

Rule 74
Resubmission of Dispute after an Annulment
(1) If a Committee annuls all or part of an Award, either party may
file with the Secretary-General a request to resubmit the dispute
to a new Tribunal, together with any supporting documents, and
pay the lodging fee published in the schedule of fees.
(2) The request shall:
(a) identify the Award to which it relates;
(b) be in an official language of the Centre;
(c) be signed by each requesting party or its representative
and be dated;
(d) attach proof of any representative’s authority to act; and
(e) specify which aspect(s) of the dispute is resubmitted to the
new Tribunal.
(3) Upon receipt of a request for resubmission and the lodging fee,
the Secretary-General shall promptly:
(a) transmit the request and the supporting documents to the
other party;
(b) register the request;
(c) notify the parties of the registration; and
(d) invite the parties to constitute a new Tribunal without
delay, which shall have the same number of arbitrators, and
be appointed by the same method as the original Tribunal,
unless the parties agree otherwise.
(4) If the original Award was annulled in part, the new Tribunal shall
not reconsider any portion of the Award that was not annulled.
(5) Except as otherwise provided in paragraphs (1)-(4), these Rules
shall apply to the resubmission proceeding.
ICSID ARBITRATION RULES

(6) The procedural agreements and orders on matters addressed

at the first session of the original Tribunal shall not apply to the
resubmission proceeding, unless the parties agree otherwise.

ICSID CONVENTION, REGULATIONS AND RULES 131

 CHAPTER XII
EXPEDITED ARBITRATION
Rule 75
Consent of Parties to Expedited Arbitration
(1) At any time, the parties to an arbitration conducted under
the Convention may consent to expedite the arbitration in
accordance with this Chapter ( "expedited arbitration" ) by jointly
notifying the Secretary-General in writing of their consent.
(2) Chapters I-XI of the Arbitration Rules apply to an expedited
arbitration except that:
(a) Rules 15, 16, 18, 39, 40, 41, 42, 44 and 46 do not apply in an
expedited arbitration; and
(b) Rules 19, 29, 37, 43, 49, 58, 61 and 72, as modified by Rules
76-84, apply in an expedited arbitration.
(3) If the parties consent to expedited arbitration after the
constitution of the Tribunal pursuant to Chapter II, Rules 76-
78 shall not apply, and the expedited arbitration shall proceed
subject to all members of the Tribunal confirming their availability
pursuant to Rule 79(2). If an arbitrator is unavailable to proceed
on an expedited basis, the arbitrator may offer to resign.

Rule 76
Number of Arbitrators and Method of Constituting
the Tribunal for Expedited Arbitration
(1) The Tribunal in an expedited arbitration shall consist of a Sole
Arbitrator appointed pursuant to Rule 77 or a three-member
Tribunal appointed pursuant to Rule 78.
ICSID ARBITRATION RULES

(2) The parties shall jointly notify the Secretary-General in writing

of their election of a Sole Arbitrator or a three-member Tribunal
within 30 days after the date of the notice of consent referred
to in Rule 75(1).
(3) If the parties do not notify the Secretary-General of their
election within the time limit referred to in paragraph (2), the
Tribunal shall consist of a Sole Arbitrator to be appointed
pursuant to Rule 77.
(4) An appointment pursuant to Rule 77 or 78 is an appointment in
accordance with the method agreed by the parties pursuant to
Article 37(2)(a) of the Convention.

ICSID CONVENTION, REGULATIONS AND RULES 132

Rule 77
Appointment of Sole Arbitrator for Expedited
Arbitration
(1) The parties shall jointly appoint the Sole Arbitrator within 20
days after the notice referred to in Rule 76(2).
(2) The Secretary-General shall appoint the Sole Arbitrator if:
(a) the parties do not appoint the Sole Arbitrator within the
time limit referred to in paragraph (1);
(b) the parties notify the Secretary-General that they are
unable to agree on the Sole Arbitrator; or
(c) the appointee declines the appointment or does not comply
with Rule 79(1).
(3) The following procedure shall apply to an appointment by
the Secretary-General of the Sole Arbitrator pursuant to
paragraph (2):
(a) the Secretary-General shall transmit a list of five candidates
for appointment as Sole Arbitrator to the parties within 10
days after the relevant event referred to in paragraph (2);
(b) each party may strike one name from the list and shall
rank the remaining candidates in order of preference and
transmit such ranking to the Secretary-General within 10
days after receipt of the list;
(c) the Secretary-General shall inform the parties of the result
of the rankings on the next business day after receipt of
the rankings and shall appoint the candidate with the best
ranking. If two or more candidates share the best ranking,
the Secretary-General shall select one of them; and
(d) if the selected candidate declines the appointment or does
not comply with Rule 79(1), the Secretary-General shall
ICSID ARBITRATION RULES

select the next highest-ranked candidate.

Rule 78
Appointment of Three-Member Tribunal for Expedited
Arbitration
(1) A three-member Tribunal shall be appointed in accordance with
the following procedure:
(a) each party shall appoint an arbitrator ( "co-arbitrator" ) within
20 days after the notice referred to in Rule 76(2); and
(b) the parties shall jointly appoint the President of the Tribunal

ICSID CONVENTION, REGULATIONS AND RULES 133

 within 20 days after the receipt of the acceptances from
both co-arbitrators.
(2) The Secretary-General shall appoint the arbitrators not yet
appointed if:
(a) an appointment is not made within the applicable time
limit referred to in paragraph (1);
(b) the parties notify the Secretary-General that they are
unable to agree on the President of the Tribunal; or
(c) an appointee declines the appointment or does not comply
with Rule 79(1).
(3) The following procedure shall apply to the appointment by the
Secretary-General of any arbitrators pursuant to paragraph (2):
(a) the Secretary-General shall first appoint the co-arbitrator(s)
not yet appointed. The Secretary-General shall consult with
the parties as far as possible and use best efforts to appoint
the co-arbitrator(s) within 15 days after the relevant event
in paragraph (2);
(b) within 10 days after the later of the date on which both co-
arbitrators have accepted their appointments or the relevant
event referred to in paragraph (2), the Secretary-General
shall transmit a list of five candidates for appointment as
President of the Tribunal to the parties;
(c) each party may strike one name from the list and shall
rank the remaining candidates in order of preference and
transmit such ranking to the Secretary-General within 10
days after receipt of the list;
(d) the Secretary-General shall inform the parties of the result
of the rankings on the next business day after receipt of
the rankings and shall appoint the candidate with the best
ranking. If two or more candidates share the best ranking,
ICSID ARBITRATION RULES

the Secretary-General shall select one of them; and

(e) if the selected candidate declines the appointment or does
not comply with Rule 79(1), the Secretary-General shall
select the next highest-ranked candidate.

Rule 79
Acceptance of Appointment in Expedited Arbitration
(1) An arbitrator appointed pursuant to Rule 77 or 78 shall accept
the appointment and provide a declaration pursuant to Rule 19(3)
within 10 days after receipt of the request for acceptance.

ICSID CONVENTION, REGULATIONS AND RULES 134

(2) An arbitrator appointed to a Tribunal constituted pursuant to
Chapter II shall confirm being available to conduct an expedited
arbitration within 10 days after receipt of the notice of consent
pursuant to Rule 75(3).

Rule 80
First Session in Expedited Arbitration
(1) The Tribunal shall hold a first session pursuant to Rule 29
within 30 days after the constitution of the Tribunal.
(2) The first session shall be held remotely, unless both parties and
the Tribunal agree it shall be held in person.

Rule 81
Procedural Schedule in Expedited Arbitration
(1) The following schedule for written submissions and the hearing
shall apply in an expedited arbitration:
(a) the claimant shall file a memorial within 60 days after the
first session;
(b) the respondent shall file a counter-memorial within 60
days after the date of filing the memorial;
(c) the memorial and counter-memorial referred to in
paragraph (1)(a) and (b) shall be no longer than 200 pages;
(d) the claimant shall file a reply within 40 days after the date
of filing the counter-memorial;
(e) the respondent shall file a rejoinder within 40 days after
the date of filing the reply;
(f) the reply and rejoinder referred to in paragraph (1)(d) and (e)
shall be no longer than 100 pages;
ICSID ARBITRATION RULES

(g) the hearing shall be held within 60 days after the last
written submission is filed;
(h) the parties shall file statements of their costs and written
submissions on costs within 10 days after the last day of
the hearing referred to in paragraph (1)(g); and
(i) the Tribunal shall render the Award as soon as possible,
and in any event no later than 120 days after the hearing
referred to in paragraph (1)(g).
(2) Any preliminary objection, counterclaim, incidental or additional
claim shall be joined to the schedule referred to in paragraph (1).

ICSID CONVENTION, REGULATIONS AND RULES 135

 The Tribunal shall adjust the schedule if a party raises any such
matter, taking into account the expedited nature of the process.
(3) The Tribunal may extend the time limits referred to in
paragraph (1) by up to 30 days to decide a dispute arising
from requests to produce documents pursuant to Rule 37.
The Tribunal shall decide such requests based on written
submissions and without an in-person hearing.
(4) Any schedule for submissions other than those referred to
in paragraphs (1)-(3) shall run in parallel with the schedule
referred to in paragraph (1), unless the proceeding is suspended
or the Tribunal decides that there are special circumstances
justifying the suspension of the schedule. In fixing time limits
for such submissions, the Tribunal shall take into account the
expedited nature of the process.

Rule 82
Default in Expedited Arbitration
A Tribunal may grant a party in default a grace period not to exceed
30 days pursuant to Rule 49.

Rule 83
Procedural Schedule for Supplementary Decision and
Rectification in Expedited Arbitration
The Tribunal shall issue a supplementary decision or rectification
pursuant to Rule 61 within 30 days after the last submission on
the request.

Rule 84
ICSID ARBITRATION RULES

Procedural Schedule for Interpretation, Revision or

Annulment in Expedited Arbitration
(1) The following schedule for written submissions and the hearing
shall apply to the procedure relating to an interpretation,
revision or annulment of an Award rendered in an expedited
arbitration:
(a) the applicant shall file a memorial on interpretation, revision
or annulment within 30 days after the first session;
(b) the other party shall file a counter-memorial on
interpretation, revision or annulment within 30 days after
the memorial;

ICSID CONVENTION, REGULATIONS AND RULES 136

 (c) the memorial and counter-memorial referred to in
paragraph (1)(a) and (b) shall be no longer than 100 pages;
(d) a hearing shall be held within 45 days after the date for
filing the counter-memorial;
(e) the parties shall file statements of their costs and written
submissions on costs within 5 days after the last day of the
hearing referred to in paragraph (1)(d); and
(f) the Tribunal or Committee shall issue the decision on
interpretation, revision or annulment as soon as possible,
and in any event no later than 60 days after the hearing
referred to in paragraph (1)(d).
(2) Any schedule for submissions other than those referred to in
paragraph (1) shall run in parallel with the schedule referred to in
paragraph (1), unless the proceeding is suspended or the Tribunal
or Committee decides that there are special circumstances
justifying the suspension of the schedule. In fixing time limits
for such submissions, the Tribunal or Committee shall take into
account the expedited nature of the process.

Rule 85
Resubmission of a Dispute after
Annulment in Expedited Arbitration
The consent of the parties to expedited arbitration pursuant to
Rule 75 shall not apply to resubmission of the dispute.

Rule 86
Opting Out of Expedited Arbitration
(1) The parties may opt out of an expedited arbitration at any
time by jointly notifying the Tribunal and Secretary-General in
ICSID ARBITRATION RULES

writing of their agreement.

(2) Upon request of a party, the Tribunal may decide that an
arbitration should no longer be expedited. In deciding the request,
the Tribunal shall consider the complexity of the issues, the stage
of the proceeding and all other relevant circumstances.
(3) The Tribunal, or the Secretary-General if a Tribunal has not been
constituted, shall determine the further procedure pursuant to
Chapters I-XI and fix any time limit necessary for the conduct
of the proceeding.

ICSID CONVENTION, REGULATIONS AND RULES 137