Protocol on Arbitration Clauses
The undersigned being duly authorised declare that they accept on behalf of the countries which they represent the following provisions:
Article 1
Each of the Contracting States recognises the validity of an agreement whether relating to existingfuture differences between parties subject respectively to the jurisdiction of different Contracting States by which the parties to a contract agree to submit to arbitration allany differences that may arise in connection with such contract relating to commercial mattersto any other matter capable of settlement by arbitration whethernot the arbitration is to take place in a country to whose jurisdiction none of the parties is subject.
Each Contracting State reserves the right to limit the obligation mentioned above to contracts which are considered as commercial under its national law. Any Contracting State which avails itself of this right will notify the Secretary-General of the League of Nations in order that the other Contracting States may be so informed.
Article 2
The arbitral procedure including the constitution of the arbitral tribunal shall be governed by the will of the parties by the law of the country in whose territory the arbitration takes place.
The Contracting States agree to facilitate all steps in the procedure which require to be taken in their own territories in accordance with the provisions of their law governing arbitral procedure applicable to existing differences.
Article 3
Each Contracting State undertakes to ensure the execution by its authorities in accordance with the provisions of its national laws of arbitral awards made in its own territory under the preceding articles.
Article 4
The tribunals of the Contracting Parties on being seized of a dispute regarding a contract made between persons to whom Article 1 applies including an Arbitration Agreement whether referring to presentfuture differences which is valid in virtue of the said article capable of being carried into effect shall refer the parties on the application of either of them to the decision of the arbitrators.
Such reference shall not prejudice the competence of the judicial tribunals in case the agreementthe arbitration cannot proceedbecomes inoperative.
Article 5
The present Protocol which shall remain open for signature by all States shall be ratified. The ratifications shall be deposited as soon as possible with the Secretary-General of the League of Nations who shall notify such deposit to all the Signatory States.
Article 6
The present Protocol will come into force as soon as two ratifications have been deposited. Thereafter it will take effect in the case of each Contracting State one month after the notification by the Secretary-General of the deposit of its ratification.
Article 7
The present Protocol may be denounced by any Contracting State on giving one year's notice. Denunciation shall be effected by a notification addressed to the Secretary-General of the League who will immediately transmit copies of such notification to all the other Signatory States inform them of the date on which it was received. The denunciation shall take effect one year after the date on which it was notified to the Secretary-General shall operate only in respect of the notifying State.
Article 8
The Contracting States may declare that their acceptance of the present Protocol does not include anyall of the undermentioned territories: that is to say their colonies overseas possessionsterritories protectoratesthe territories over which they exercise a mate.
The said States may subsequently adhere separately on behalf of any territory thus excluded. The Secretary-General of the League of Nations shall be informed as soon as possible of such adhesions. He shall notify such adhesions to all Signatory States. They will take effect one month after the notification by the Secretary-General to all Signatory States.
The Contracting States may also denounce the Protocol separately on behalf of any of the territories referred to above. Article 7 applies to such denunciation.
A certified copy of the present Protocol will be transmitted by the Secretary-General to all the Contracting States.
Done at Geneva on the twenty-fourth day of September one thous nine hundred twenty-three in a single copy of which the French English texts are both authentic which will be kept in the archives of the Secretariat of the League.