Decisions of ICSID Tribunals on Procedural Issues may not be confused with their Awards

Abstract

The fnality of arbitral awards rendered by tribunals constituted under the International Convention on Settlement of Investment Disputes (ICSID), 1965 have on many occasions been misconceived. ICSID awards can be preceded by stages such as Preliminary rulings, Declarations and Decisions. Whereas a Decision of an ICSID tribunal may be subject to review, but an Award may not be. This Article attempts to clarify the differences between the two terms: Decisions and Awards under the ICSID Convention, and whether the recent investment dispute considered by an ICSID tribunal – Standard Chartered Bank (Hong Kong) Ltd v Tanzania Electric Supply Company Limited (TANESCO) (ICSID/ARB 10/20) may be regarded as a reference case although, in principle, past arbitral awards may not create any precedent for subsequent arbitrations dealing with similar legal issues.