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Convention on the Settlement of Investment Disputes Between States and Nationals of Other
States
DoneatWashington on 18March 1965
PREAMBLE
The Contracting States Considering the need for international cooperation for economic
development,andtheroleofprivateinternationalinvestmenttherein;
Bearing in mind the possibility that from time to time disputes may arise in connection with such
investmentbetween Contracting Statesandnationalsofother Contracting States;
Recognizing that while such disputes would usually be subject to national legal processes,
internationalmethodsof settlementmaybeappropriate in certain cases;
Attaching particular importance to the availability of facilities for international conciliation or
arbitration to which Contracting States and nationals of other Contracting States may submit such
disputesifthey sodesire;
Desiring to establish such facilities under the auspices of the International Bank for
Reconstruction andDevelopment;
Recognizing that mutual consent by the parties to submit such disputes to conciliation or to
arbitration through such facilities constitutes a binding agreement which requires in particular that
due consideration be given to any recommendation of conciliators, and that any arbitral award be
compliedwith;and
Declaring that no Contracting State shall by the mere fact of its ratification, acceptance or
approval of this Convention and without its consent be deemed to be under any obligation to
submit anyparticular disputetoconciliation or arbitration,
Haveagreed asfollows:
CHAPTER IInternationalCentre for Settlement ofInvestment Disputes
Section 1Establishment andOrganization
Article 1
(1) There is hereby established the International Centre for Settlement of Investment Disputes
(hereinafter calledtheCentre).
(2) The purpose of the Centre shall be to provide facilities for conciliation and arbitration of
investment disputes between Contracting States and nationals of other Contracting States in
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