- Washington Convention
-
The 1965 Washington Convention on the Settlement of Investment Disputes between States and Nationals of Other States. The purpose of the Washington Convention was to encourage cross-border investment in developing states by providing an effective means of enforcing contractual rights. To this end, the Convention established the International Centre for Settlement of Investment Disputes. England is a party to the Washington Convention; it was brought into effect as a matter of English law by the Arbitration (International Investment Disputes) Act 1966.+ ICSID Convention / Washington ConventionUSAThe 1965 Convention on the Settlement of Investment Disputes between States and Nationals of Other States that created the International Centre for Settlement of Investment Disputes (ICSID). The purpose of the ICSID Convention is to encourage cross-border investment in developing states by providing an effective means of enforcing contractual rights. The US became a party to the ICSID Convention when it became effective in the US on October 14, 1966.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.