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approval is required.
Any Contracting State may notify the
Centro of the class or classes of disputes which it would or would not consider submitting to the jurisdiction of the
Centre.
4.
addressed in
register it
outside the
A request for conciliation or arbitration shall be
writing to the
Secretary-General who shall unless he finds that the request is manifestly
jurisdiction of the Centre. The Conciliation
the Arbitral Tribunal shall be constituted as
possible
Commission
soon
as
(Articles
after registration of the request
28, 29, 36 and 37).
Terms of settlement
recommended by the Commission must be
consideration by the
given serious
parties (Article 34).
Awards of the
Tribunal shall be binding on the parties and shall not be
appeal or any other remedy except those
in the Convention (Article 53).
subject to any
provided for
Each
Contracting State is required to recognise and enforce the
award as if it were a final judgment of a court in that
State (Article 54).
on
5.
Article 67 provides that the Convention is open
for signature
behalf of States members of IBRD and any
other State
which
International
is a party to the Statute of the
Court of Justice and which the Administrative
Council, by a vote of two-thirds of its members, shall have
invited to sign
Convention
Convention.
the
shall
apply to all
Under Article 70, the
territories for whose
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