The 2022 ICSID Rules and Regulations amendments mark the fourth amendment of these Rules and Regulations since 1968 and may be seen as the most extensive revision of them to date, especially since the significance of ICSID arbitration has been growing, as evidenced by the continuously increasing number of ICSID cases registered over the years.
The main objectives of the revision was to modernise, simplify and streamline the legal framework of ICSID proceedings. ICSID and its Member States achieved this by filling existing gaps, codifying international standards and practices, and by addressing specific ISDS concerns.
A team of renowned practitioners and rising stars in the field of International Arbitration have analysed these updated frameworks - i.e., the ICSID Arbitration Rules, the Conciliation Rules, the Institution Rules as well as the Administrative and Financial Regulations - provision by provision to offer practical and theoretical guidance for experienced lawyers, as well as beginners in the field alike. The Commentary also provides detailed background information on the amendment procedure of each provision and gives insight into whether, and if yes, which, existing case law remains relevant to the application of the new Rules and Regulations. The Commentary is rounded off with reflections on various perspectives of ICSID arbitration.
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