We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close

II.2.250 CONVENTION ON THE SETTLEMENT OF INVESTMENT DISPUTES BETWEEN STATES AND NATIONALS OF OTHER STATES, 1965

The Ratification of Maritime Conventions

Chapter I.2.250

CONVENTION ON THE SETTLEMENT OF INVESTMENT DISPUTES BETWEEN STATES AND NATIONALS OF OTHER STATES, 1965

ADOPTED: Done at Washington, 18 March 1965
REFERENCE: 575 UNTS 159
UN TREATY NUMBER: I. 8359
ENTERED INTO FORCE: 14 October 1966
DEPOSITARY: International Bank for Reconstruction and Development
SECRETARY: International Centre for Settlement of Disputes

IMPLEMENTATION

RATIFICATION, ACCEPTANCE AND APPROVAL

Article LXVII

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 and which the Administrative Council, by a vote of two-thirds of its members, shall have invited to sign the Convention.

Article LXVIII

(1) This Convention shall be subject to ratification, acceptance or approval by the signatory States in accordance with their respective constitutional procedures.

ENTRY INTO FORCE

Article LXVIII

(2) This Convention shall enter into force thirty days after the date of deposit of the twentieth instrument of ratification, acceptance or approval. It shall enter into force for each State which subsequently deposits its instrument of ratification, acceptance or approval thirty days after the date of such deposit.

Article LXIX

Each Contracting State shall take such legislative or other measures as may be necessary for making the provisions of this Convention effective in its territories.

DENUNCIATION

Article LXX

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.

AMENDMENTS

Article LXV

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 ninety days prior to the meeting of the Administrative Council at which such amendment is to be considered and shall forthwith be transmitted by him to all the members of the Administrative Council.

Article LXVI

(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, acceptance or approval. Each amendment shall enter into force thirty days after dispatch by the depositary of this Convention of a notification to Contracting States that all Contracting States have ratified, accepted or approved the amendment.

(2) No amendment shall affect the rights and obligations under this Convention of any Contracting State or of any of its constituent subdivisions or agencies, or of 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.

TERRITORIAL APPLICATION

Article LXX

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, acceptance or approval or subsequently.

Article LXXII

Notice by a Contracting State pursuant to Articles LXX or LXXI shall not affect the rights or obligations under this Convention of that State or of any of its constituent subdivisions or agencies or of 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.

NOTIFICATIONS

(The following notifications concern classes of disputes considered suitable or unsuitable for submission to the centre for the Settlement of Investment Disputes)

China

“[P]ursuant to Article 25(4) of the Convention, the Chinese Government would only consider submitting to the jurisdiction of the International Centre for Settlement of Investment Disputes disputes over compensation resulting from expropriation and nationalization.”

Germany

On 3 October 1990, Germany notified the Centre “that, through the accession of the German Democratic Republic to the Federal Republic of Germany with effect from 3 October 1990, the two German States have united to form one sovereign State, which as a single member of the International Centre for Settlement of Investment Disputes remains bound by the provisions of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. As from the date of unification, the Federal Republic of Germany will act in the International Centre for Settlement of Investment Disputes under the designation of ‘Germany”’.

Jamaica

8 May 1974

“In accordance with Article XXV of the Convention establishing the International Centre for Settlement of Investment Disputes, the Government of Jamaica hereby notifies the Centre that the following class of dispute at any time arising shall not be subject to the jurisdiction of the Centre:

Class of Dispute:

Legal disputes arising directly out of an investment relating to minerals or other natural resources.”

Papua New Guinea

14 September 1978

“Whereas under Article XXV(IV) of the Convention any Contracting State may, at the time of acceptance thereof, notify the Centre of the class or classes of disputes which it would or would not consider submitting to the jurisdiction of the Centre;

Now Therefore the Government of Papua New Guinea Hereby Notifies the Centre that it will only consider submitting those disputes to the Centre which are fundamental to the investment itself.”

Saudi Arabia

8 May 1980

“The Kingdom reserves the right of not submitting all questions pertaining to oil and pertaining to acts of sovereignty to the International Centre for the Settlement of Investment Disputes whether by way of conciliation or arbitration.”

Turkey

3 March 1989

“I also have the honour to hereby notify, pursuant to Article XXV(IV) of the Convention on the Settlement of Investment Disputes between States and Nationals of other States’ concerning classes of disputes considered suitable or unsuitable for submission to the jurisdiction of the Centre that only the disputes arising directly out of investment activities which have obtained necessary permission, in conformity with the relevant legislation of the Republic of Turkey on foreign capital, and that have effectively started shall be subject to the jurisdiction of the Centre. However, the disputes, related to the property and real rights upon the real estates are totally under the jurisdiction of the Turkish courts and therefore shall not be submitted to the jurisdiction of the Centre.”

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, please enter your details below to log in.

Enter your email address to log in as a user on your corporate account.
Remember me on this computer

Not yet an i-law subscriber?

Devices

Request a trial Find out more

Unable to display the content
Unable to display the content
Unable to display the content
Unable to display the content