Arbitration stages explained

1. The agreement to arbitrate

Arbitration rests on consent. The Model Law defines an arbitration agreement as an agreement to submit to arbitration disputes that have arisen or may arise in respect of a defined legal relationship, whether contractual or not ¹. Under Article II(3) of the New York Convention, a court seized of a matter covered by such an agreement shall refer the parties to arbitration at the request of one of them ³. The court does not do so if it finds the agreement null and void, inoperative or incapable of being performed ³.

In investor-state cases the consent can come from a treaty or an investment law. Once both sides consent to ICSID, neither may withdraw that consent on its own ².

2. The request and registration

At ICSID, a party wishing to start arbitration sends a written request to the Secretary-General, who sends a copy to the other party ². The Secretary-General registers the request, and may refuse only if the dispute is manifestly outside the Centre's jurisdiction ². Registration is an administrative step. It is not a finding that the claim is valid or that the tribunal has jurisdiction.

3. Constituting the tribunal

Under the ICSID Convention, the tribunal has a sole arbitrator or an uneven number appointed as the parties agree ². Without agreement, it has three: one appointed by each party and a president appointed by agreement ². If the tribunal is not constituted within 90 days after notice of registration, the Chairman of the Administrative Council may appoint the missing arbitrators at a party's request ².

Under the Model Law, a party has thirty days to appoint after a request, and the two party-appointed arbitrators have thirty days to agree on the third ¹. If either step fails, a court or other authority named by the State makes the appointment ¹.

4. Jurisdiction and the case itself

A tribunal can decide objections to its jurisdiction as a preliminary question or in the award on the merits ¹. If it rules as a preliminary question that it has jurisdiction, any party may ask the court within thirty days to decide the matter ¹. The tribunal may continue the proceedings during that court request ¹.

Under the 2021 ICC Rules, in force from 1 January 2021, the tribunal drew up Terms of Reference defining the case and sent them to the ICC Court within 30 days of receiving the file ⁴. ICC states that under its revised Rules in force from 1 June 2026, Terms of Reference are no longer a necessary step, though tribunals may still establish them ⁵. Under Article 24 of the 2026 Rules, the tribunal holds an initial case management conference within 30 days of receiving the file ⁸.

ICSID amended its rules from 1 July 2022. It states the changes include mandatory deadlines for issuing orders and awards, and new expedited arbitration rules the parties can choose ⁷.

5. The award and the time to render it

Under the 2021 ICC Rules, the tribunal had six months to render its final award, and the Court could extend it ⁴. ICC states the period ran from the last signature of the Terms of Reference ⁵. For arbitrations commenced on or after 1 June 2026, Article 34 of the 2026 Rules says the President of the ICC Court fixes or extends that time limit ⁸. The tribunal submits a draft award to the ICC Court for scrutiny before signing it (Article 37) ⁸.

6. After the award

• Correction and interpretation: within thirty days of receiving the award under the Model Law ¹, or 45 days for a supplementary decision or rectification at ICSID ².
• Revision (ICSID): within 90 days of discovering a decisive new fact, and within three years of the award ².
• Annulment (ICSID): within 120 days of the award, before an ad hoc committee ².
• Setting aside (Model Law seat): within three months of receiving the award, before the court at the seat ¹.
• Recognition and enforcement: in a court where assets are, under the New York Convention ³.

Cases that end before an award

ICSID's release of 14 August 2026 states that of the arbitrations concluded in its fiscal year to 30 June 2026 (FY2026), 63% were decided by the tribunal and 37% were settled or otherwise discontinued ⁹.

Issue 2026-2 of ICSID's statistics prints the same two figures in a chart, but its text does not tie each figure to its label. The same issue breaks discontinued cases down by cause in a chart of the same form, so this page does not repeat that breakdown ⁶.