Good Faith - An ICSID Convention Requirement?

  • Bruno Zeller
  • Richard Lightfoot

Abstract

The International Convention for the Settlement of Investment Disputes (“ICSID”) or the “Washington Convention of 1965” was implemented by the World Bank to facilitate global investment.  It provides for the settlement of investment disputes by establishing an autonomous system of conciliation and arbitration between foreign private investors and host states administered by ICSID. This paper investigates whether good faith plays a role in the resolution of investment disputes between states and investors.  The issue is complicated as in effect three contracts are at play.  To start with there is the contract between the investor and the state. This is supported by a Free Trade Agreement (FTA) or a Bi-lateral Investment Treaty (BIT)[1]which in most cases provides the impetus and the basic rules of the investment being the second contract.  Importantly FTA’s or BIT’s can also contain a method of dispute resolution.  Thirdly, in general any disputes between a state and an investor are submitted to ICSID for a resolution. 

Author Biography

Bruno Zeller

Joshua Gibson is a third year Bachelor of Laws student at Victoria University. As an editor, he is involved in managing our editing and publishing software. Prior to studying law, he worked at the State Library of Tasmania in Launceston. Joshua volunteers at the WestJustice community legal centre and has represented Victoria University in several national mooting competitions.

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Published
2019-09-12
How to Cite
Zeller, B., & Lightfoot, R. (2019). Good Faith - An ICSID Convention Requirement?. Victoria University Law and Justice Journal, 8(1). https://doi.org/10.15209/vulj.v8i1.1139
Section
Articles