Abstract
The article discusses the question of the annulment proceedings under the ICSID system juxtaposed to the situation existing in international commercial arbitration. The analysis is supported with the presentation of the historical development of the grounds of an annulment under the ICSID system and practice formed throughout years of work of the Annulment Committees. Furthermore, the papers discusses the issue of setting aside awards under the international commercial arbitration by giving examples of the basic regulations in the area, practice in domestic legal systems of selected countries which have in some measure more liberal approach to the setting aside of the awards.
The following parts consist in analysis of the problematic aspects of the annulment system under the ICSID Convention and of the setting aside of awards in the international commercial arbitration. Its final part is an attempt to find solutions to the presented problems by depicting possible elucidations which can be borrowed from the ICSID system and adopted in the international commercial arbitration and vice versa. The author puts forward the suggestions of the model of an appellate body notwithstanding that final approach is that in today?s practice there is no prerequisite to change the system of the revision under the ICSID convention.