Indonesia Sebagai Anggota International Centre For Settlement Of Investment Disputes

Abstract

International Centre For Settlement Of Investment Disputes (ICSID) is an effort to settle investment disputes by means of arbitration. This institution aim to create a just, effective, and fair treatment towards both contracting parties which are (a) investor from another state and (b) host state. As dispute might rise within an investment contract, Indonesia believes that by joining ICSID, the investors will be given the ultimate protection of unfair treatment from Indonesia. This is due to the fact that investors are allowed to bring such dispute into the arbitration of ICSID, should a violation is being conducted. Even if the intention of Indonesia to join ICSID was made in good faith, many violations of the investor’s responsibility result in many cases of ICSID. Moreover, ICSID’s claim to solve a dispute with effective, and fair treatment towards both contracting parties are at stake, considering there are a lot of cases that require more than 10 (ten) years to be settled. Therefore, many people are expressing their concern of Indonesia’s status as one of the ICSID member. The method of this research is based on a Case Based Approach and considered as a normative legal research as it’s type in order to answer the research question regarding Indonesia’s status as an ICSID member.