CHAPTER 21A—SETTLEMENT OF INVESTMENT DISPUTES

§1650. Appointments of representatives and panel members under Convention on the Settlement of Investment Disputes

The President may make such appointments of representatives and panel members as may be provided for under the convention.

(Pub. L. 89–532, §2, Aug. 11, 1966, 80 Stat. 344.)

Editorial Notes

References in Text

The convention, referred to in text, is the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States which was signed on Aug. 27, 1965, approved by the Senate on May 16, 1966, and ratified by the President on June 1, 1966.

Statutory Notes and Related Subsidiaries

Short Title

Pub. L. 89–532, §1, Aug. 11, 1966, 80 Stat. 344, provided: "That this Act [enacting this chapter] may be cited as the 'Convention on the Settlement of Investment Disputes Act of 1966'."

§1650a. Arbitration awards under the Convention

(a) Treaty rights; enforcement; full faith and credit; nonapplication of Federal Arbitration Act

An award of an arbitral tribunal rendered pursuant to chapter IV of the convention shall create a right arising under a treaty of the United States. The pecuniary obligations imposed by such an award shall be enforced and shall be given the same full faith and credit as if the award were a final judgment of a court of general jurisdiction of one of the several States. The Federal Arbitration Act (9 U.S.C. 1 et seq.) shall not apply to enforcement of awards rendered pursuant to the convention.

(b) Jurisdiction; amount in controversy

The district courts of the United States (including the courts enumerated in section 460 of title 28) shall have exclusive jurisdiction over actions and proceedings under subsection (a) of this section, regardless of the amount in controversy.

(Pub. L. 89–532, §3, Aug. 11, 1966, 80 Stat. 344.)

Editorial Notes

References in Text

Chapter IV of the convention, referred to in subsec. (a), contains the Arbitration provisions of the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States, providing in Section 1 (Art. 36) for Request for Arbitration, Section 2 (Arts. 37 to 40) for Constitution of the Tribunal, Section 3 (Arts. 41 to 47) for powers and functions of the tribunal, Section 4 (Arts. 48, 49) for The Award, Section 5 (Arts. 50 to 52) for interpretation, revision and annulment of the award, and Section 6 (Arts. 53 to 55) for recognition and enforcement of the award.

The Federal Arbitration Act, referred to in subsec. (a), is classified generally to Title 9, Arbitration.