• Journal of Arbitration Studies
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• v.24 no.4
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• pp.3-28
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• 2014

This article examines the Annulment Mechanism of arbitral awards rendered under the auspices of the International Centre for Settlement of Investment Disputes (ICSID). The primary feature in the ICSID and non-ICSID arbitration regarding the review of awards involves the unified nature of the ICSID system, as compared to the scattered and multi-layered system of review existing under arbitration rules, national legislation, and international convention. This unity can be perceived at different levels. The ICSID annulment mechanism entails only a set of rules; thus, only one set of application standards of review will be implemented, as opposed to sometimes conflicting layers of application rules, laws, and convention, as in the case of non-ICSID arbitration. However, some of the recent annulment decisions have raised serious questions about the breadth of annulment in practice, as opposed to its original design. Nonetheless, implementing a new system under the ICSID awards to be reviewed by an appellate court appears to create more problems than it solves. The potential impact of introducing that mechanism could result in a longer and more complex proceeding, with uncertain benefits.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.37
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• pp.133-158
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• 2008

The purpose of this article is to examine the "Annulment" of ICSID Arbitration Award. Most of the international conventions provide for arbitration as the preferred method of dispute settlement. In general they either provide for ad hoc arbitration under the UNCITRAL Rules or under the rules of an acceptable arbitration institution, e.g. ICC, AAA, LCIA and in particular ICSID. The most distinctive feature of ICSID arbitration is the self-contained and exhaustive nature of its review procedures. Unlike other arbitration regimes, control is exercised by internal procedures rather than by the courts. Remedies against the award are limited to those provided for in the Convention and do not include court involvement. Especially, the annulment of the ICSID award by an ad hoc committee must be considered as jeopardizing ICSID Arbitration because it clearly depart from the current trends of international commercial arbitration which limits any kinds of judicial review and excludes any kinds of review on the merits. I wish that the future decisions of the ad hoc committees will restore a narrow scope to the ICSID procedure of annulment in order not to endanger the ICSID Arbitration mechanism.

• Journal of Arbitration Studies
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• v.28 no.2
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• pp.137-163
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• 2018

Efficiency in the arbitration proceedings and finality of arbitral awards have been key attractive features of arbitration. While finality of awards is due to the fact that there is no appeals mechanism in arbitration, other recourses that are available against arbitral awards threaten the integrity of finality of arbitral awards. This article examines some of these recourses, such as, setting aside of arbitral awards pursuant to the UNCITRAL Model Law, scrutiny of draft awards by arbitration institutions, and annulment proceedings of ICSID Convention awards and discusses the implications of these measures in relation to assuring finality of arbitral awards in international commercial and investment arbitration cases. In order to more effectively respect the disputing parties' autonomy in choosing arbitration, and also to give as much deference to arbitral tribunals' decisions and their discretion in reaching their decisions, it is proposed that an official appellate mechanism would be preferred over the undermining of finality of arbitral awards that have been taking place through the currently available exclusive recourses against arbitral awards.