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Convention On The Settlement Of Investment Disputes Between States And Nationals Of Other States Done at Washington, 18 March 1965; entered into force, 14 October 1966

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Chapter I. - International Centre For Settlement Of Investment Disputes/

Article 1

Article 2

Article 3

Article 4

Article 5

Article 6

Article 7

Article 8

Article 9

Article 10

Article 11

Panels

Article 12

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

Article 24

Chapter II. - Jurisdiction Of The Centre

Article 25

Article 26

Article 27

Chapter III. - Conciliation/ request for conciliation

Article 28

Article 29

Article 30

Article 31

Article 32

Article 33

Article 34

Article 35

Chapter IV. - Arbitration arbitration

Article 36

Article 37

Article 38

Article 39

Article 40

Article 41

Article 42

Article 43

Article 44

Article 45

Article 46

Article 47

Article 48

Article 49

Article 50

Article 51

Article 52

Enforcement of the award

Article 53

Article 54

Article 55

Chapter V. - Replacement and Disqualification of Conciliators and Arbitrators

Article 56

Article 57

Article 58

Chapter VI. - Cost of Proceedings

Article 59

Article 60

Article 61

Chapter VIII. - Place of Proceedings

Article 62

Article 63

Chapter VIII. - Disputes Between Contracting States

Article 64

Chapter IX. - Amendment

Article 65

Article 66

Chapter X. - Final Provisions

Article 67

Article 68

Article 69

Article 70

Article 71

Article 72

Article 73

Article 74

Article 75

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Convention On The Settlement Of Investment Disputes Between States And Nationals Of Other States Done at Washington, 18 March 1965; entered into force, 14 October 1966

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Convention On The Settlement Of Investment Disputes Between States And Nationals Of Other States Done at Washington, 18 March 1965; entered into force, 14 October 1966

Chapter IV. - Arbitration arbitration

Article 52

(1) Either party may request annulment of the award by an application in writing addressed to the Secretary-General on one or more of the following grounds:

(a) that the Tribunal was not properly constituted;

(b) that the Tribunal has manifestly exceeded its powers;

(c) that there was corruption on the part of a member of the Tribunal;

(d) that there has been a serious departure from a fundamental rule of procedure; or

(e) that the award has failed to state the reasons on which it is based.

(2) The application shall be made within 120 days after the date on which the award was rendered except that when annulment is requested on the ground of corruption such application shall be made within 120 days after discovery of the corruption and in any event within three years after the date on which the award was rendered.

(3) On receipt of the request the Chairman shall forthwith appoint from the Panel of Arbitrators an ad hoc Committee of three persons. None of the members of the Committee shall have been a member of the Tribunal which rendered the award, shall be of the same nationality as any such member, shall be a national of the State party to the dispute or of the State whose national is a party to the dispute, shall have been designated to the Panel of Arbitrators by either of those States, or shall have acted as a conciliator in the same dispute. The Committee shall have the authority to annul the award or any part thereof on any of the grounds set forth in paragraph (1).

(4) The provisions of Articles 41-45, 48, 49, 53 and 54, and of Chapters VI and VII shall apply mutatis mutandis to proceedings before the Committee.

(5) The Committee may, if it considers that the circumstances so require, stay enforcement of the award pending its decision. If the applicant requests a stay of enforcement of the award in his application, enforcement shall be stayed provisionally until the Committee rules on such request.

(6) If the award is annulled the dispute shall, at the request of either party, be submitted to a new Tribunal constituted in accordance with Section 2 this Chapter.


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