This book marks the fourth amendment of the Rules and Regulations since 1968. As a result, the legal framework of ICSID proceedings has been modernised, simplified and streamlined. A team of renowned practitioners and rising stars in the field of International Arbitration have analysed these updated frameworks, which include the ICSID Arbitration Rules, the Conciliation Rules, the Institution Rules as well as the Administrative and Financial Regulations, to offer practical and theoretical guidance for experienced lawyers and beginners in the field. The book also provides detailed background information on the amendment procedure of each provision and gives insight into whether existing case law remains relevant to the application of the new Rules and Regulations.