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International Court of Arbitration is composed of a chairman, a vice-chairman, and 50 members. The ICC Council elects the chairman and the chairman appoints the vice-chairman. The Council appoints the members upon recommendation of the ICC National Committees. International Court of Arbitration has a Secretariat to administer the arbitration cases.

The party who wishes to request arbitration under the ICC Dispute Resolution Rules must deliver their request for arbitration to the Secretariat. The Secretariat then notifies the Claimant and the Respondent that such request is received and the date of delivery thereof. The date of delivery of the request to the Secretariat is considered to be the beginning date of the arbitration procedure in all cases.

Within the framework of the ICC Dispute Resolution Rules, the decision on disputes must be made by one and/or three arbitrators. If parties cannot agree on the number of arbitrators, the Council appoints a sole arbitrator. If the Council determines that it is necessary to appoint three arbitrators for the dispute, each party must nominate one arbitrator.

According to the ICC Dispute Resolution Rules, the Arbitration Board must render the final decision in principle within 6 months. However, the Arbitration Board may extend the said period. The decisions of the arbitrators are binding upon the parties. ICC Dispute Resolution Rules can be found in the ICC’s web site.

According to ICC Dispute Resolution Rules, the Arbitration Board should make the final decision in principle within 6 months. However, the Arbitration Board may extend the said period. The decisions of the arbitrators are binding upon the parties. ICC Dispute Resolution Rules can be found from the ICC’s web site.

In 1965, the World Bank put a settlement and arbitration system into practice for investment disputes by establishing the International Center for Settlement of Investment Disputes (ICSID) under a convention. The Center is in Washington, D.C. where the headquarters of the World Bank is located.

For an investor to be able to refer a dispute to ICSID, (i) a record must be provided in terms of resolution of disputes by the request of arbitration before ICSID, which can be found in the agreement signed between the investor and the host state with regards to a certain investment; (ii) where there is a bilateral investment agreement signed between the state to which the investor is registered and the state to which the investment is made, the investor can rely on the provisions of the relevant bilateral agreement which grants jurisdiction to ICSID for the resolution of disputes; or (iii) the investor can rely on the provisions of multilateral international agreements. For example, where a multilateral investment agreement is signed between the investor’s state and Turkey, such as the European Energy Agreement, the disputes that may arise between the investing company and Turkey can be settled by ICSID arbitration, even if the specific agreement does not contain an arbitration clause. ICSID Rules can be found from the ICSID’s web site.