Extract to table

" Three cumulative requirements must be satisfied for the Centre to exercise jurisdiction: (1) the dispute must be a "legal dispute arising directly out of an investment" (ratione materiae); (2) the dispute must be between "a Contracting State

and a national of another Contracting State" (ratione personae); and (3) the parties must have "consent[ed] in writing to submit [the dispute] to the Centre" (ratione voluntatis)

Compliance with the Cooling-Off Period Article 8 of the UK-Valderia BIT requires that, before an investor may submit a dispute to ICSID arbitration, it must provide written notice of the dispute to the host state, following which a six-month "cooling-off" period must elapse to allow the parties an opportunity to resolve the dispute amicably

In any event, Article 26 of the ICSID Convention provides that "[c]onsent of the parties to arbitration under this Convention shall, unless otherwise stated, be deemed exclusive of any other remedy