Carnation Walling (ICF)
For the old version of this step (that uses traditional ICF) please go here . It is however much better from a Building Science perspective and less expensive to use Carnation Walling. It is more accurate to refer to Carnation Walling as being an IFC (Insulation Formed Concrete) system.
Doing the walls for the basement is not really any different from doing the walls for the Main level and the Bedroom level. The steps involved in doing the Carnation Walling are described on the Carnation Walling techniques page. This also describes the associated bracing, window bucking, and even implementing the Carnation Flooring .