Code of Conduct for Arbitrators in International Investment Disputes
The Secretariats of the International Centre for Settlement of Investment Disputes (ICSID) and the United Nations Commission on International Trade Law (UNCITRAL) have collaborated on a Code of Conduct for Arbitrators in International Investment Disputes.
The Code is intended to provide applicable principles and provisions addressing matters such as independence and impartiality, and the duty to conduct proceedings with integrity, fairness, efficiency and civility. It is based on a comparative review of standards found in codes of conduct in investment treaties, arbitration rules applicable to ISDS, and of international courts.
Code of Conduct Resources
A first version of the Code was published on May 1, 2020. ICSID and UNCITRAL received extensive input on the draft through consultation with State delegates and other interested stakeholders. Based on the feedback received, a second version of the Code was published on April 19, 2021, a third version was published on September 22, 2021, a fourth version was published on July 25, 2022, and the fifth version was published on November 28, 2022.
In May 2023, ICSID and UNCITRAL published advanced drafts of the texts to be presented to UNCITRAL at its 56th annual session, held from July 3-21 in Vienna, and in October 2023 published advance copies based on the decisions taken by the Commission.
Drafts of the Code of Conduct
Final Drafts
Advance Copies of Texts Prepared for the 56th Session of UNCITRAL
Version Five of the Code and Draft Commentary
Draft Code of Conduct and Commentary (November 2022) (Download PDF)
Draft Commentary to the Code
Draft Commentary to the Code of Conduct (August 2022) (Download PDF)
Version Four of the Code
Version Three of the Code
Version Two of the Code
Version One of the Code
Annex A: Text of the Code of Conduct (Download PDF)
Annex B: Summary of Codes of Conduct in Free Trade Agreements (Download PDF)
Comments on the Code of Conduct
Comments on Version Four of the Code and Commentary
Comments by State/Commenter as of November 11, 2022 (Download PDF)
Comments by Article and Topic as of November 11, 2022 (Download PDF)
Comments on Version Three of the Code
Comments by State/Commenter as of November 3, 2021 (Download PDF)
Comments by Article and Topic as of November 3, 2021 (Download PDF)
Comments on Version Two of the Code
Comments by State/Commenter as of September 3, 2021 (Download PDF)
Comments by Article and Topic as of September 3, 2021 (Download PDF)
Comments on Version One Code
Comments by State/Commenter as of January 14, 2021 (Download PDF)
Comments by Article and Topic as of January 14, 2021 (Download PDF)
Other Comments Received:
Russian Federation (Download PDF)