The Role of the International Center (ICSID) in Settling Investment Disputes in International Law

Resorting to the International Center for Settlement of Investment Disputes requires a set of conditions and controls, some of which relate to the parties to the dispute. The host country for investment as a person of international law may be a party to these investment disputes or through one of its agencies, and the foreign investor is a private person, whether this The natural or legal person, in addition to the investor’s country, also requires that there be a set of formal controls related to the resort to the center being in writing. It is also the competence of this International Center, and according to the Washington Convention of 1965, it granted the foreign investor who has lost the international legal personality the right to resort to confronting the host country for investment before the arbitral tribunals of this center, while this agreement kept the territorial jurisdiction of the host country for investment in a manner I want to rely on the personal jurisdiction of the country of nationality in the event that the host country refuses to implement the provisions of the center, as the agreement provided two ways of conciliation and arbitration to settle investment disputes before the center, and this agreement entered into force in 1966. Additionally, the agreement upheld the premise that the parties are free to choose the law that applies to the dispute and its proceedings. The parties are bound by the arbitration award and cannot appeal it, unless otherwise specified in the agreement. Each member state of the agreement also recognizes that all judgments issued in accordance with the agreement are binding and guarantee the implementation of financial obligations on its territory. Iraq has joined this agreement under the Law of Accession No. (64). ) for the year 2012 and published in Al-Waqa’i Al-Iraqiya Newspaper, Issue No. (4283) for the year 2013.