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Annulment Under the ICSID Convention by Bishop, R Doak; Marchili, Silvia M (1st December 2012)

Part I General Framework and Fundamental Observations, 3 Finality of ICSID Awards

From: Annulment Under the ICSID Convention

R Doak Bishop, Silvia M Marchili

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 20 August 2019

Subject(s):
Awards — Annulment
3.01 Finality of international awards is a distinctive feature of arbitration and a natural consequence of the long-recognized principles of pacta sunt servanda and res judicata . 1 As early as 1907 the Hague Convention for the Pacific Settlement of International Disputes clearly stated the effect of the pacta sunt servanda principle in arbitral proceedings: ‘Recourse to arbitration implies an engagement to submit in good faith to the award’. 2 Kenneth Carlston’s understanding on this point is also worth mentioning. He maintained that by entering into an...
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