ICSIDConvention.docCONVENTIONONTHESETTLEMENTOFINVESTMENTDISPUTESBETWEENSTATESANDNATIONALSOFOTHERSTATESPreambleTheContractingStatesConsideringtheneedforinternationalcooperationforeconomicdevelopment,andtheroleofprivateinternationalinvestmenttherein;BearinginmindthepossibilitythatfromtimetotimedisputesmayariseinconnectionwithsuchinvestmentbetweenContractingStatesandnationalsofotherContractingStates;Recognizingthatwhilesuchdisputeswouldusuallybesubjecttonationallegalprocesses,internationalmethodsofsettlementmaybeappropriateincertaincases;AttachingparticularimportancetotheavailabilityoffacilitiesforinternationalconciliationorarbitrationtowhichContractingStatesandnationalsofotherContractingStatesmaysubmitsuchdisputesiftheysodesire;DesiringtoestablishsuchfacilitiesundertheauspicesoftheInternationalBankforReconstructionandDevelopment;mendationofconciliators,pliedwith;andDeclaringthatnoContractingStateshallbythemerefactofitsratification,acceptanceorapprovalofthisConventionandwithoutitsconsentbedeemedtobeunderanyobligationtosubmitanyparticulardisputetoconciliationorarbitration,Haveagreedasfollows:anizationArticle1(1)ThereisherebyestablishedtheInternationalCentreforSettlementofInvestmentDisputes(hereinaftercalledtheCentre).(2)(hereinaftercalledtheBank).TheseatmaybemovedtoanotherplacebydecisionoftheAdministrativeCounciladoptedbyamajorityoftwo-(1)’sabsencefromameetingorinabilitytoact.(2)Intheabsenceofacontrarydesignation,
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