Decisions on stays of enforcement in international arbitration
June 23, 2022
Under Articles 53 and 54 of the ICSID convention, once a tribunal renders a final award, it is binding and enforceable by each contracting state to the convention.
That said, an exceptional remedy in the context of the ICSID system is available to a party seeking certain post award remedies (i.e., interpretation, revision or annulment). That remedy is a stay of enforcement of the award. The stay is provisional when request…