If the effectiveness of any dispute-settlement process is to be measured by the existence of impartial and well-defined rules, finality of the outcome and enforceability of the decision, Canada’s ratification on November 1, 2013, of the 1965 Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention) and its coming into effect on December 1, 2013, should be widely recognized as a watershed event for Canadian businesses investing overseas.
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