The author is a member of the Legal Department of the International Bank for Reconstruction and Development and also works for the International Centre for Settlement of Investment Disputes. The views expressed in this article are those of the author and do not reflect the views of the International Bank for Reconstruction and Development and the Inteimational Centre for Settlement of Investment Disputes.
There axe broadly two categories of matters which merit consideration when a clause submitting disputes to the jurisdiction of the International Centre for Settlement of Investment Disputes (the Centre) is formulated. First, there are those matters on which agreement must be reached, in order to invoke the jurisdiction of the Centre. The Convention for the Settlement of Investment Disputes between States and Nationals of other States (the Convention) apparently lays down only one condition with respect to the consent of the parties to a dispute for its submission to the Centre, namely that such consent be in writing. Further, the Report of the Executive Directors of the World Bank on the Convention confirms the great freedom accorded to the parties as to the modalities of recording that consent. On the other hand, there would seem to be matters on which the parties must record a dear consensus, if the Centre is to assume jurisdiction.