ICSID 중재판정의 재심제도에 관한 연구

A Study on the Review System of ICSID Arbitral Award

The purpose of this paper is to examine the Review System of ICSID Arbitral Award. The ICSID Convention provides three mechanisms to review final award: interpretation, revision and annulment. Convention Articles 50, 51 and 52 and Arbitration Rules 50 to 55 set out the detailed procedures for interpretation, revision and annulment, respectively. First, article 50 of the ICSID Convention allows either party to apply to the Secretary-General for an "interpretation" of the award's scope or meaning. Interpretation does not encompass, directly or indirectly, a review or reconsideration of the merits of the award. Second, under Article 51 of the ICSID Convention, either party may request that an award be "revised", or amended, but only, under Article 51(1), "on the ground of discovery of some fact of such a nature as decisively to affect the award". The applicant must show that the fact is indeed new. Finally, the most significant remedy available under the ICSID Convention is the annulment of an award, in whole or in part, under Article 52. Unlike requests for the interpretation or revision of awards under Articles 50 and 51, which may be considered by the original tribunal that issued the award, applications for annulment must be submitted to a new three member ad hoc committee constituted for that sole purpose. Ad hoc committee have jurisdiction to review and annul awards only on the limited grounds described in Article 52(1). To achieve this, I have described three generations of ad hoc annulment committee decisions. Meanwhile, pending resolution of application for interpretation, revision and annulment, the enforcement of an award may be stayed. The effect of a stay, simply put, is to suspend the losing party's obligation "to abide by and comply with" the award.