Convention on the Settlement of Investment Disputes Between States Nationals of Other States
Done at Washington on 18 March 1965

PREAMBLE
The Contracting States
Considering the need for international cooperation for economic development the role of private international investment therein;
Bearing in mind the possibility that time to time disputes may arise in connection with such investment between Contracting States nationals of other Contracting States;
Recognizing that while such disputes would usually be subject to national legal processes international methods of settlement may be appropriate in certain cases;
Attaching particular importance to the availability of facilities for international conciliationarbitration to which Contracting States nationals of other Contracting States may submit such disputes if they so desire;
Desiring to establish such facilities under the auspices of the International Bank for Reconstruction Development;
Recognizing that mutual consent by the parties to submit such disputes to conciliationto arbitration through such facilities constitutes a binding agreement which requires in particular that due consideration be given to any recommendation of conciliators that any arbitral award be complied with;
Declaring that no Contracting State shall by the mere fact of its ratification acceptanceapproval of this Convention without its consent be deemed to be under any obligation to submit any particular dispute to conciliationarbitration
Have agreed as follows:
CHAPTER I
International Centre for Settlement of Investment Disputes
Section 1
Establishment Organization
Article 1
(1) There is hereby established the International Centre for Settlement of Investment Disputes (hereinafter called the Centre).
(2) The purpose of the Centre shall be to provide facilities for conciliation arbitration of investment disputes between Contracting States nationals of other Contracting States in accordance with the provisions of this Convention.
Article 2
The seat of the Centre shall be at the principal office of the International Bank for Reconstruction Development (hereinafter called the Bank). The seat may be moved to another place by decision of the Administrative Council adopted by a majority of two-thirds of its members.
Article 3
The Centre shall have an Administrative Council a Secretariat shall maintain a Panel of Conciliators a Panel of Arbitrators.
Section 2
The Administrative Council
Article 4
(1) The Administrative Council shall be composed of one representative of each Contracting State. An alternate may act as representative in case of his principal's absence a meetinginability to act.
(2) In the absence of a contrary designation each governor alternate governor of the Bank appointed by a Contracting State shall be ex officio its representative its alternate respectively.
Article 5
The President of the Bank shall be ex officio Chairman of the Administrative Council (hereinafter called the Chairman) but shall have no vote. During his absenceinability to act during any vacancy in the office of President of the Bank the person for the time being acting as President shall act as Chairman of the Administrative Council.
Article 6
(1) Without prejudice to the powers functions vested in it by other provisions of this Convention the Administrative Council shall:
(a) adopt the administrative financial regulations of the Centre;
(b) adopt the rules of procedure for the institution of conciliation arbitration proceedings;
(c) adopt the rules of procedure for conciliation arbitration proceedings (hereinafter called the Conciliation Rules the Arbitration Rules);
(d) approve arrangements with the Bank for the use of the Bank's administrative facilities services;
(e) determine the conditions of service of the Secretary-General of any Deputy Secretary-General;
(f) adopt the annual budget of revenues expenditures of the Centre;
(g) approve the annual report on the operation of the Centre.
The decisions referred to in sub-paragraphs (a) (b) (c) (f) above shall be adopted by a majority of two-thirds of the members of the Administrative Council.
(2) The Administrative Council may appoint such committees as it considers necessary.
(3) The Administrative Council shall also exercise such other powers perform such other functions as it shall determine to be necessary for the implementation of the provisions of this Convention.
Article 7
(1) The Administrative Council shall hold an annual meeting such other meetings as may be determined by the Councilconvened by the Chairmanconvened by the Secretary-General at the request of not less than five members of the Council.
(2) Each member of the Administrative Council shall have one vote except as otherwise herein provided all matters before the Council shall be decided by a majority of the votes cast.
(3) A quorum for any meeting of the Administrative Council shall be a majority of its members.
(4) The Administrative Council may establish by a majority of two-thirds of its members a procedure by the Chairman may seek a vote of the Council without convening a meeting of the Council. The vote shall be considered valid only if the majority of the members of the Council cast their votes within the time limit fixed by the said procedure.
Article 8
Members of the Administrative Council the Chairman shall serve without remuneration the Centre.
Section 3
The Secretariat
Article 9
The Secretariat shall consist of a Secretary-General onemore Deputy Secretaries-General staff.
Article 10
(1) The Secretary-General any Deputy Secretary-General shall be elected by the Administrative Council by a majority of two-thirds of its members upon the nomination of the Chairman for a term of service not exceeding six years shall be eligible for re-election. After consulting the members of the Administrative Council the Chairman shall propose onemore cidates for each such office.
(2) The offices of Secretary-General Deputy Secretary-General shall be incompatible with the exercise of any political function. Neither the Secretary-General nor any Deputy Secretary-General may hold any other employmentengage in any other occupation except with the approval of the Administrative Council.
(3) During the Secretary-General's absenceinability to act during any vacancy of the office of Secretary-General the Deputy Secretary-General shall act as Secretary-General. If there shall be more than one Deputy Secretary-General the Administrative Council shall determine in advance the order in which they shall act as Secretary-General.
Article 11
The Secretary-General shall be the legal representative the principal officer of the Centre shall be responsible for its administration including the appointment of staff in accordance with the provisions of this Convention the rules adopted by the Administrative Council. He shall perform the function of registrar shall have the power to authenticate arbitral awards rendered pursuant to this Convention to certify copies thereof.
Section 4
The Panels
Article 12
The Panel of Conciliators the Panel of Arbitrators shall each consist of qualified persons designated as hereinafter provided who are willing to serve thereon.
Article 13
(1) Each Contracting State may designate to each Panel four persons who may but need not be its nationals.
(2) The Chairman may designate ten persons to each Panel. The persons so designated to a Panel shall each have a different nationality.
Article 14
(1) Persons designated to serve on the Panels shall be persons of high moral character recognized competence in the fields of law commerce; industryfinance who may be relied upon to exercise independent judgment. Competence in the field of law shall be of particular importance in the case of persons on the Panel of Arbitrators.
(2) The Chairman in designating persons to serve on the Panels shall in addition pay due regard to the importance of assuring representation on the Panels of the principal legal systems of the world of the main forms of economic activity.
Article 15
(1) Panel members shall serve for renewable periods of six years.
(2) In case of deathresignation of a member of a Panel the authority which designated the member shall have the right to designate another person to serve for the remainder of that member's term.
(3) Panel members shall continue in office until their successors have been designated.
Article 16
(1) A person may serve on both Panels.
(2) If a person shall have been designated to serve on the same Panel by more than one Contracting Stateby onemore Contracting States the Chairman he shall be deemed to have been designated by the authority which first designated him or if one such authority is the State of which he is a national by that State.
(3) All designations shall be notified to the Secretary-General shall take effect the date on which the notification is received.
Section 5
Financing the Centre
Article 17
If the expenditure of the Centre cannot be met out of charges for the use of its facilitiesout of other receipts the excess shall be borne by Contracting States which are members of the Bank in proportion to their respective subscriptions to the capital stock of the Bank by Contracting States which are not members of the Bank in accordance with rules adopted by the Administrative Council.
Section 6
Status Immunities Privileges
Article 18
The Centre shall have full international legal personality. The legal capacity of the Centre shall include the capacity:
(a) to contract;
(b) to acquire dispose of movable immovable property;
(c) to institute legal proceedings.
Article 19
To enable the Centre to fulfill its functions it shall enjoy in the territories of each Contracting State the immunities privileges set forth in this Section.
Article 20
The Centre its property assets shall enjoy immunity all legal process except when the Centre waives this immunity.
Article 21
The Chairman the members of the Administrative Council persons acting as conciliatorsarbitratorsmembers of a Committee appointed pursuant to paragraph (3) of Article 52 the officers employees of the Secretariat
(a) shall enjoy immunity legal process with respect to acts performed by them in the exercise of their functions except when the Centre waives this immunity;
(b) not being local nationals shall enjoy the same immunities immigration restrictions alien registration requirements national service obligations the same facilities as regards exchange restrictions the same treatment in respect of traveling facilities as are accorded by Contracting States to the representatives officials employees of comparable rank of other Contracting States
Article 22
The provisions of Article 21 shall apply to persons appearing in proceedings under this Convention as parties agents counsel advocates witnessesexperts; provided however that sub-paragraph (b) thereof shall apply only in connection with their travel to their stay at the place the proceedings are held.
Article 23
(1) The archives of the Centre shall be inviolable ver they may be.
(2) With regard to its official communications the Centre shall be accorded by each Contracting State treatment not less favourable than that accorded to other international organizations.
Article 24
(1) The Centre its assets property income its operations transactions authorized by this Convention shall be exempt all taxation customs duties. The Centre shall also be exempt liability for the collectionpayment of any taxescustoms duties.
(2) Except in the case of local nationals no tax shall be levied onin respect of expense allowances paid by the Centre to the Chairmanmembers of the Administrative Councilonin respect of salaries expense allowancesother emoluments paid by the Centre to officialsemployees of the Secretariat.
(3) No tax shall be levied onin respect of feesexpense allowances received by persons acting as conciliatorsarbitratorsmembers of a Committee appointed pursuant to paragraph (3) of Article 52 in proceedings under this Convention if the sole jurisdictional basis for such tax is the location of the Centrethe place such proceedings are conductedthe place such feesallowances are paid.
CHAPTER II
Jurisdiction of the Centre
Article 25
(1) The jurisdiction of the Centre shall extend to any legal dispute arising directly out of an investment between a Contracting State (or any constituent subdivisionagency of a Contracting State designated to the Centre by that State) a national of another Contracting State which the parties to the dispute consent in writing to submit to the Centre. When the parties have given their consent no party may withdraw its consent unilaterally.
(2) "National of another Contracting State" means:
(a) any natural person who had the nationality of a Contracting State other than the State party to the dispute on the date on which the parties consented to submit such dispute to conciliationarbitration as well as on the date on which the request was registered pursuant to paragraph (3) Article 28paragraph (3) of Article 36 but does not include any person who on either date also had the nationality of the Contracting State party to the dispute;
(b) any juridical person which had the nationality of a Contracting State other than the State party to the dispute on the date on which the parties consented to submit such dispute to conciliationarbitration any juridical person which had the nationality of the Contracting State party to the dispute on that date which because of foreign control the parties have agreed should be treated as a national of another Contracting State for the purposes of this Convention.
(3) Consent by a constituent subdivisionagency of a Contracting State shall require the approval of that State unless that State notifies the Centre that no such approval is required.
(4) Any Contracting State may at the time of ratification acceptanceapproval of this Conventionat any time thereafter notify the Centre of the classclasses of disputes which it wouldwould not consider submitting to the jurisdiction of the Centre. The Secretary-General shall forthwith transmit such notification to all Contracting States. Such notification shall not constitute the consent required by paragraph (1).
Article 26
Consent of the parties to arbitration under this Convention shall unless otherwise stated be deemed consent to such arbitration to the exclusion of any other remedy. A Contracting State may require the exhaustion of local administrativejudicial remedies as a condition of its consent to arbitration under this Convention.
Article 27
(1) No Contracting State shall give diplomatic protectionbring an international claim in respect of a dispute which one of its nationals another Contracting State shall have consented to submitshall have submitted to arbitration under this Convention unless such other Contracting State shall have failed to abide by comply with the award rendered in such dispute.
(2) Diplomatic protection for the purposes of paragraph (1) shall not include informal diplomatic exchanges for the sole purpose of facilitating a settlement of the dispute.
CHAPTER III
Conciliation
Section 1
Request for Conciliation
Article 28
(1) Any Contracting Stateany national of a Contracting State wishing to institute conciliation proceedings shall address a request to that effect in writing to the Secretary-General who shall send a copy of the request to the other party.
(2) The request shall contain information concerning the issues in dispute the identity of the parties their consent to conciliation in accordance with the rules of procedure for the institution of conciliation arbitration proceedings.
(3) The Secretary-General shall register the request unless he finds on the basis of the information contained in the request that the dispute is manifestly outside the jurisdiction of the Centre. He shall forthwith notify the parties of registrationrefusal to register.
Section 2
Constitution of the Conciliation Commission
Article 29
(1) The Conciliation Commission (hereinafter called the Commission) shall be constituted as soon as possible after registration of a request pursuant to Article 28.
(2)
(a) The Commission shall consist of a sole conciliatorany uneven number of conciliators appointed as the parties shall agree.
(b) Where the parties do not agree upon the number of conciliators the method of their appointment the Commission shall consist of three conciliators one conciliator appointed by each party the third who shall be the president of the Commission appointed by agreement of the parties.
Article 30
If the Commission shall not have been constituted within 90 days after notice of registration of the request has been dispatched by the Secretary-General in accordance with paragraph (3) of Article 28such other period as the parties may agree the Chairman shall at the request of either party after consulting both parties as far as possible appoint the conciliatorconciliators not yet appointed.
Article 31
(1) Conciliators may be appointed outside the Panel of Conciliators except in the case of appointments by the Chairman pursuant to Article 30.
(2) Conciliators appointed outside the Panel of Conciliators shall possess the qualities stated in paragraph (1) of Article 14.
Section 3
Conciliation Proceedings
Article 32
(1) The Commission shall be the judge of its own competence.
(2) Any objection by a party to the dispute that that dispute is not within the jurisdiction of the Centrefor other reasons is not within the competence of the Commission shall be considered by the Commission which shall determine whether to deal with it as a preliminary questionto join it to the merits of the dispute.
Article 33
Any conciliation proceeding shall be conducted in accordance with the provisions of this Section except as the parties otherwise agree in accordance with the Conciliation Rules in effect on the date on which the parties consented to conciliation. If any question of procedure arises which is not covered by this
Sectionthe Conciliation Rulesany rules agreed by the parties the Commission shall decide the question.
Article 34
(1) It shall be the duty of the Commission to clarify the issues in dispute between the parties to endeavour to bring about agreement between them upon mutually acceptable terms. To that end the Commission may at any stage of the proceedings time to time recommend terms of settlement to the parties. The parties shall cooperate in good faith with the Commission in order to enable the Commission to carry out its functions shall give their most serious consideration to its recommendations.
(2) If the parties reach agreement the Commission shall draw up a report noting the issues in dispute recording that the parties have reached agreement. If at any stage of the proceedings it appears to the Commission that there is no likelihood of agreement between the parties it shall close the proceedings shall draw up a report noting the submission of the dispute recording the failure of the parties to reach agreement. If one party fails to appearparticipate in the proceedings the Commission shall close the proceedings shall draw up a report noting that party's failure to appearparticipate.
Article 35
Except as the parties to the dispute shall otherwise agree neither party to a conciliation proceeding shall be entitled in any other proceeding whether before arbitratorsin a court of lawotherwise to invokerely on any views expressedstatementsadmissionsoffers of settlement made by the other party in the conciliation proceedingsthe reportany recommendations made by the Commission.
CHAPTER IV
Arbitration
Section I
Request for Arbitration
Article 36
(1) Any Contracting Stateany national of a Contracting State wishing to institute arbitration proceedings shall address a request to that effect in writing to the Secretary-General who shall send a copy of the request to the other party.
(2) The request shall contain information concerning the issues in dispute the identity of the parties their consent to arbitration in accordance with the rules of procedure for the institution of conciliation arbitration proceedings.
(3) The Secretary-General shall register the request unless he finds on the basis of the information contained in the request that the dispute is manifestly outside the jurisdiction of the Centre. He shall forthwith notify the parties of registrationrefusal to register.
Section 2
Constitution of the Tribunal
Article 37
(1) The Arbitral Tribunal (hereinafter called the Tribunal) shall be constituted as soon as possible after registration of a request pursuant to
Article 36.
(2)
(a) The Tribunal shall consist of a sole arbitratorany uneven number of arbitrators appointed as the parties shall agree.
(b) Where the parties do not agree upon the number of arbitrators the method of their appointment the Tribunal shall consist of three arbitrators one arbitrator appointed by each party the third who shall be the president of the Tribunal appointed by agreement of the parties.
Article 38
If the Tribunal shall not have been constituted within 90 days after notice of registration of the request has been dispatched by the Secretary-General in accordance with paragraph (3) of Article 36such other period as the parties may agree the Chairman shall at the request of either party after consulting both parties as far as possible appoint the arbitratorarbitrators not yet appointed. Arbitrators appointed by the Chairman pursuant to this Article shall not be nationals of the Contracting State party to the disputeof the Contracting State whose national is a party to the dispute.
Article 39
The majority of the arbitrators shall be nationals of States other than the Contracting State party to the dispute the Contracting State whose national is a party to the dispute; provided however that the foregoing provisions of this Article shall not apply if the sole arbitratoreach individual member of the Tribunal has been appointed by agreement of the parties.
Article 40
(1) Arbitrators may be appointed outside the Panel of Arbitrators except in the case of appointments by the Chairman pursuant to Article 38.
(2) Arbitrators appointed outside the Panel of Arbitrators shall possess the qualities stated in paragraph (1) of Article 14.
Section 3
Powers Functions of the Tribunal
Article 41
(1) The Tribunal shall be the judge of its own competence.
(2) Any objection by a party to the dispute that that dispute is not within the jurisdiction of the Centrefor other reasons is not within the competence of the Tribunal shall be considered by the Tribunal which shall determine whether to deal with it as a preliminary questionto join it to the merits of the dispute.
Article 42
(1) The Tribunal shall decide a dispute in accordance with such rules of law as may be agreed by the parties. In the absence of such agreement the Tribunal shall apply the law of the Contracting State party to the dispute (including its rules on the conflict of laws) such rules of international law as may be applicable.
(2) The Tribunal may not bring in a finding of non liquet on the ground of silenceobscurity of the law.
(3) The provisions of paragraphs (1) (2) shall not prejudice the power of the Tribunal to decide a dispute ex aequo et bono if the parties so agree.
Article 43
Except as the parties otherwise agree the Tribunal may if it deems it necessary at any stage of the proceedings
(a) call upon the parties to produce documentsother evidence
(b) visit the scene connected with the dispute conduct such inquiries there as it may deem appropriate.
Article 44
Any arbitration proceeding shall be conducted in accordance with the provisions of this Section except as the parties otherwise agree in accordance with the Arbitration Rules in effect on the date on which the parties consented to arbitration. If any question of procedure arises which is not covered by this Sectionthe Arbitration Rulesany rules agreed by the parties the Tribunal shall decide the question.
Article 45
(1) Failure of a party to appearto present his case shall not be deemed an admission of the other party's assertions.
(2) If a party fails to appearto present his case at any stage of the proceedings the other party may request the Tribunal to deal with the questions submitted to it to render an award. Before rendering an award the Tribunal shall notify grant a period of grace to the party failing to appearto present its case unless it is satisfied that that party does not intend to do so.
Article 46
Except as the parties otherwise agree the Tribunal shall if requested by a party determine any incidentaladditional claimscounterclaims arising directly out of the subject-matter of the dispute provided that they are within the scope of the consent of the parties are otherwise within the jurisdiction of the Centre.
Article 47
Except as the parties otherwise agree the Tribunal may if it considers that the circumstances so require recommend any provisional measures which should be taken to preserve the respective rights of either party.
Section 4
The Award
Article 48
(1) The Tribunal shall decide questions by a majority of the votes of all its members.
(2) The award of the Tribunal shall be in writing shall be signed by the members of the Tribunal who voted for it.
(3) The award shall deal with every question submitted to the Tribunal shall state the reasons upon which it is based.
(4) Any member of the Tribunal may attach his individual opinion to the award whether he dissents the majoritynota statement of his dissent.
(5) The Centre shall not publish the award without the consent of the parties.
Article 49
(1) The Secretary-General shall promptly dispatch certified copies of the award to the parties. The award shall be deemed to have been rendered on the date on which the certified copies were dispatched.
(2) The Tribunal upon the request of a party made within 45 days after the date on which the award was rendered may after notice to the other party decide any question which it had omitted to decide in the award shall rectify any clerical arithmeticalsimilar error in the award. Its decision shall become part of the award shall be notified to the parties in the same manner as the award. The periods of time provided for under paragraph (2) of Article 51 paragraph (2) of Article 52 shall run the date on which the decision was rendered.
Section 5
Interpretation Revision Annulment of the Award
Article 50
(1) If any dispute shall arise between the parties as to the meaningscope of an award either party may request interpretation of the award by an application in writing addressed to the Secretary-General.
(2) The request shall if possible be submitted to the Tribunal which rendered the award. If this shall not be possible a new Tribunal shall be constituted in accordance with Section 2 of this Chapter. The Tribunal may if it considers that the circumstances so require stay enforcement of the award pending its decision.
Article 51
(1) Either party may request revision of the award by an application in writing addressed to the Secretary-General on the ground of discovery of some fact of such a nature as decisively to affect the award provided that when the award was rendered that fact was unknown to the Tribunal to the applicant that the applicant's ignorance of that fact was not due to negligence.
(2) The application shall be made within 90 days after the discovery of such fact in any event within three years after the date on which the award was rendered.
(3) The request shall if possible be submitted to the Tribunal which rendered the award. If this shall not be possible a new Tribunal shall be constituted in accordance with Section 2 of this Chapter.
(4) The Tribunal 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 Tribunal rules on such request.
Article 52
(1) Either party may request annulment of the award by an application in writing addressed to the Secretary-General on onemore 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 a fundamental rule of procedure;
(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 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 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 disputeof the State whose national is a party to the dispute shall have been designated to the Panel of Arbitrators by either of those Statesshall have acted as a conciliator in the same dispute. The Committee shall have the authority to annul the awardany part thereof on any of the grounds set forth in paragraph (1).
(4) The provisions of Articles 41-45 48 49 53 54 of Chapters VI VII shall apply mutatis mutis 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 of this Chapter.
Section 6
Recognition Enforcement of the Award
Article 53
(1) The award shall be binding on the parties shall not be subject to any appealto any other remedy except those provided for in this Convention. Each party shall abide by comply with the terms of the award except to the extent that enforcement shall have been stayed pursuant to the relevant provisions of this Convention.
(2) For the purposes of this Section "award" shall include any decision interpreting revisingannulling such award pursuant to Articles 50 5152.
Article 54
(1) Each Contracting State shall recognize an award rendered pursuant to this Convention as binding enforce the pecuniary obligations imposed by that award within its territories as if it were a final judgment of a court in that State. A Contracting State with a federal constitution may enforce such an award inthrough its federal courts may provide that such courts shall treat the award as if it were a final judgment of the courts of a constituent state.
(2) A party seeking recognitionenforcement in the territories of a Contracting State shall furnish to a competent courtother authority which such State shall have designated for this purpose a copy of the award certified by the Secretary-General. Each Contracting State shall notify the Secretary-General of the designation of the competent courtother authority for this purpose of any subsequent change in such designation.
(3) Execution of the award shall be governed by the laws concerning the execution of judgments in force in the State in whose territories such execution is sought.
Article 55
Nothing in Article 54 shall be construed as derogating the law in force in any Contracting State relating to immunity of that Stateof any foreign State execution.
CHAPTER V
Replacement Disqualification of Conciliators Arbitrators
Article 56
(1) After a Commissiona Tribunal has been constituted proceedings have begun its composition shall remain unchanged; provided however that if a conciliatoran arbitrator should die become incapacitatedresign the resulting vacancy shall be filled in accordance with the provisions of Section 2 of Chapter IIISection 2 of Chapter IV.
(2) A member of a CommissionTribunal shall continue to serve in that capacity notwithsting that he shall have ceased to be a member of the Panel.
(3) If a conciliatorarbitrator appointed by a party shall have resigned without the consent of the CommissionTribunal of which he was a member the Chairman shall appoint a person the appropriate Panel to fill the resulting vacancy.
Article 57
A party may propose to a CommissionTribunal the disqualification of any of its members on account of any fact indicating a manifest lack of the qualities required by paragraph (1) of Article 14. A party to arbitration proceedings may in addition propose the disqualification of an arbitrator on the ground that he was ineligible for appointment to the Tribunal under Section 2 of Chapter IV.
Article 58
The decision on any proposal to disqualify a conciliatorarbitrator shall be taken by the other members of the CommissionTribunal as the case may be provided that those members are equally dividedin the case of a proposal to disqualify a sole conciliatorarbitratora majority of the conciliatorsarbitrators the Chairman shall take that decision. If it is decided that the proposal is well-founded the conciliatorarbitrator to whom the decision relates shall be replaced in accordance with the provisions of Section 2 of Chapter IIISection 2 of Chapter IV.
CHAPTER VI
Cost of Proceedings
Article 59
The charges payable by the parties for the use of the facilities of the Centre shall be determined by the Secretary-General in accordance with the regulations adopted by the Administrative Council.
Article 60
(1) Each Commission each Tribunal shall determine the fees expenses of its members within limits established time to time by the Administrative Council after consultation with the Secretary-General.
(2) Nothing in paragraph (1) of this Article shall preclude the parties agreeing in advance with the CommissionTribunal concerned upon the fees expenses of its members.
Article 61
(1) In the case of conciliation proceedings the fees expenses of members of the Commission as well as the charges for the use of the facilities of the Centre shall be borne equally by the parties. Each party shall bear any other expenses it incurs in connection with the proceedings.
(2) In the case of arbitration proceedings the Tribunal shall except as the parties otherwise agree assess the expenses incurred by the parties in connection with the proceedings shall decide how by whom those expenses the fees expenses of the members of the Tribunal the charges for the use of the facilities of the Centre shall be paid. Such decision shall form part of the award.
CHAPTER VII
Place of Proceedings
Article 62
Conciliation arbitration proceedings shall be held at the seat of the Centre except as hereinafter provided.
Article 63
Conciliation arbitration proceedings may be held if the parties so agree
(a) at the seat of the Permanent Court of Arbitrationof any other appropriate institution whether privatepublic with which the Centre may make arrangements for that purpose;
(b) at any other place approved by the CommissionTribunal after consultation with the Secretary-General.
CHAPTER VIII
Disputes Between Contracting States
Article 64
Any dispute arising between Contracting States concerning the interpretationapplication of this Convention which is not settled by negotiation shall be referred to the International Court of Justice by the application of any party to such dispute unless the States concerned agree to another method of settlement.
CHAPTER IX
Amendment
Article 65
Any Contracting State may propose amendment of this Convention. The text of a proposed amendment shall be communicated to the Secretary-General not less than 90 days prior to the meeting of the Administrative Council at which such amendment is to be considered shall forthwith be transmitted by him to all the members of the Administrative Council.
Article 66
(1) If the Administrative Council shall so decide by a majority of two-thirds of its members the proposed amendment shall be circulated to all Contracting States for ratification acceptanceapproval. Each amendment shall enter into force 30 days after dispatch by the depositary of this Convention of a notification to Contracting States that all Contracting States have ratified acceptedapproved the amendment.
(2) No amendment shall affect the rights obligations under this Convention of any Contracting Stateof any of its constituent subdivisionsagenciesof any national of such State arising out of consent to the jurisdiction of the Centre given before the date of entry into force of the amendment.
CHAPTER X
Final Provisions
Article 67
This Convention shall be open for signature on behalf of States members of the Bank. It shall also be open for signature on behalf of any other State which is a party to the Statute of the International Court of Justice which the Administrative Council by a vote of two-thirds of its members shall have invited to sign the Convention.
Article 68
(1) This Convention shall be subject to ratification acceptanceapproval by the signatory States in accordance with their respective constitutional procedures.
(2) This Convention shall enter into force 30 days after the date of deposit of the twentieth instrument of ratification acceptanceapproval. It shall enter into force for each State which subsequently deposits its instrument of ratification acceptanceapproval 30 days after the date of such deposit.
Article 69
Each Contracting State shall take such legislativeother measures as may be necessary for making the provisions of this Convention effective in its territories.
Article 70
This Convention shall apply to all territories for whose international relations a Contracting State is responsible except those which are excluded by such State by written notice to the depositary of this Convention either at the time of ratification acceptanceapprovalsubsequently.
Article 71
Any Contracting State may denounce this Convention by written notice to the depositary of this Convention. The denunciation shall take effect six months after receipt of such notice.
Article 72
Notice by a Contracting State pursuant to Articles 7071 shall not affect the rightsobligations under this Convention of that Stateof any of its constituent subdivisionsagenciesof any national of that State arising out of consent to the jurisdiction of the Centre given by one of them before such notice was received by the depositary.
Article 73
Instruments of ratification acceptanceapproval of this Convention of amendments thereto shall be deposited with the Bank which shall act as the depositary of this Convention. The depositary shall transmit certified copies of this Convention to States members of the Bank to any other State invited to sign the Convention.
Article 74
The depositary shall register this Convention with the Secretariat of the United Nations in accordance with Article 102 of the Charter of the United Nations the Regulations thereunder adopted by the General Assembly.
Article 75
The depositary shall notify all signatory States of the following:
(a) signatures in accordance with Article 67;
(b) deposits of instruments of ratification acceptance approval in accordance with Article 73;
(c) the date on which this Convention enters into force in accordance with Article 68;
(d) exclusions territorial application pursuant to Article 70;
(e) the date on which any amendment of this Convention enters into force in accordance with Article 66;
(f) denunciations in accordance with Article 71.
DONE at Washington in the English French Spanish languages all three texts being equally authentic in a single copy which shall remain deposited in the archives of the International Bank for Reconstruction Development which has indicated by its signature below its agreement to fulfill the functions with which it is charged under this Convention