1. This Convention shall be open for accession to all States referred to in article VIII.

2. Accession shall be effected by the deposit of an instrument of accession with the Secretary-General of the United Nations.

ENTRY INTO FORCE

Article XII

1. This Convention shall come into force on the ninetieth day following the date of deposit of the third instrument of ratification or accession.

2. For each State ratifying or acceding to this Convention after the deposit of the third instrument of ratification or accession, this Convention shall enter into force on the ninetieth day after deposit by such State of its instrument of ratification or accession.

DENUNCIATION

Article XIII

1. Any Contracting State may denounce this Convention by a written notification to the Secretary-General of the United Nations. Denunciation shall take effect one year after the date of receipt of the notification by the Secretary-General.

2. Any State which has made a declaration or notification under article (X) may, at any time thereafter, by notification to the Secretary-General of the United Nations declare that this Convention shall cease to extend to the territory concerned one year after the date of receipt of the notification by the Secretary-General.

3. This Convention shall continue to be applicable to arbitral awards in respect of which recognition or enforcement proceedings have been instituted before the denunciation takes effect.

TERRITORIAL APPLICATION

Article X

1. Any State may, at the time of signature, ratification or accession, declare that this Convention shall extend to all or any of the territories for the international relations of which it is responsible. Such a declaration shall take effect when the Convention enters into force for the State concerned.

2. At any time thereafter any such extension shall be made by notification addressed to the Secretary-General of the United Nations and shall take effect as from the ninetieth day after the day of receipt by the Secretary-General of the United Nations of this notification, or as from the date of entry into force of the Convention for the State concerned, whichever is the later.

3. With respect to those territories to which this Convention is not extended at the time of signature, ratification or accession, each State concerned shall consider the possibility of taking the necessary steps in order to extend the application of this Convention to such territories, subject, where necessary for constitutional reasons, to the consent of the Governments of such territories.

Article XI

In the case of a federal or non-unitary State, the following provisions shall apply:

(a) With respect to those articles of this Convention that come within the legislative jurisdiction of the federal authority, the obligations of the federal Government shall to this extent be the same as those of Contracting States which are not federal States;

(b) With respect to those articles of this Convention that come within the legislative jurisdiction of constituent states or provinces which are not, under the constitutional system of the federation, bound to take legislative action, the federal Government shall bring such articles with a favourable recommendation to the notice of the appropriate authorities of constituent states or provinces at the earliest possible moment;

(c) A federal State Party to this Convention shall, at the request of any other Contracting State transmitted through the Secretary-General of the United Nations, supply a statement of the law and practice of the federation and its constituent units in regard to any particular provision of this Convention, showing the extent to which effect has been given to that provision by legislative or other action.

Referring to the possibility offered by article I, paragraph 3, of the Convention, the People’s Democratic Republic of Algeria declares that it will apply the Convention on the basis of reciprocity, to the recognition and enforcement of arbitral awards made only in the territory of another Contracting State and only where such awards have been made with respect to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under Algerian law.

Antigua and Barbuda

In accordance with Article I, the Government of Antigua and Barbuda declares that it will apply the Convention on the basis of reciprocity only to the recognition and enforcement of awards made in the territory of another contracting state.

The Government of Antigua and Barbuda also declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the laws of Antigua and Barbuda.

Argentina

Upon signature

Subject to the declaration contained in the Final Act. The said declaration read as follows:

“If another Contracting Party extends the application of the Convention to territories which fall within the sovereignty of the Argentine Republic, the rights of the Argentine Republic shall in no way be affected by that extension.”

Upon ratification:

On the basis of reciprocity, the Republic of Argentina will apply the Convention only to the recognition and enforcement of foreign arbitral awards made in the territory of the other Contracting State. It will also apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

The Convention will be interpreted in accordance with the principles and clauses of the National Institution in force or those resulting from modification made by virtue of the Constitution.

Austria

In a communication received on 25 February 1988, the Government of Austria notified the Secretary-General of its decision to withdraw from that date, the following reservation, made upon accession to the Convention:

The Republic of Austria will apply the Convention, in accordance with the first sentence of article I (3) thereof, only to the recognition and enforcement of arbitral awards made in the territory of another Contracting State.

Bahrain

1. The accession by the State of Bahrain to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958 shall in no way constitute recognition of Israel or be a cause for the establishment of relations of any kind therewith.

2. In accordance with article I(3) of the Convention, the State of Bahrain will apply the Convention, on the basis of reciprocity, to the recognition and enforcement of only those awards made in the territory of another Contracting State party to the Convention.

3. In accordance with article I(3) of the Convention, the State of Bahrain will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of the State of Bahrain.

Bahrain

8 July 2021

The Government of Bahrain notified its withdrawal of the following declaration made upon accession:

“The accession by the State of Bahrain to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958 shall in no way constitute recognition of Israel or be a cause for the establishment of any relations of any kind therewith.”

Barbados

Declaration

1. In accordance with article 1(3) of the Convention, the Government of Barbados declares that it will apply the Convention on the basis of reciprocity to the recognition and enforcement of awards made only in the territory of another Contracting State.

2. The Government of Barbados will also apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the laws of Barbados.

Belgium

In accordance with article I, paragraph 3, the Government of the Kingdom of Belgium declares that it will apply the Convention to the recognition and enforcement of arbitral awards made only in the territory of a Contracting State.

Bosnia and Herzegovina

The Republic of Bosnia and Herzegovina will apply the Convention on the basis of reciprocity, to the recognition and enforcement of only those awards made in the territory of another Contracting State. The Republic of Bosnia and Herzegovina will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of the Republic of Bosnia and Herzegovina.

Botswana

The Republic of Botswana will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered commercial under Botswana law.

The Republic of Botswana will apply the Convention to the Recognition and Enforcement of Awards made in the territory of another Contracting State.

Brunei Darussalam

Brunei Darussalam will on the basis of reciprocity apply the said Convention to the recognition and enforcement of only those awards which are made in the territory of another Contracting State.

Bulgaria

Bulgaria will apply the Convention to recognition and enforcement of awards made in the territory of another contracting State. With regard to awards made in the territory of non-contracting States it will apply the Convention only to the extent to which these States grant reciprocal treatment.

Byelorussian Soviet Socialist Republic

The Byelorussian Soviet Socialist Republic will apply the provisions of this Convention in respect to arbitral awards made in the territories of non-contracting States only to the extent to which they grant reciprocal treatment.

Canada

27 May 1987

(Revised 25 November 1988)

The Government of Canada declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of Canada, except in the case of the Province of Quebec where the law does not provide for such limitation.

Central African Republic

Referring to the possibility offered by paragraph 3 of article I of the Convention, the Central African Republic declares that it will apply the Convention on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another contracting State; it further declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

China

1. The People’s Republic of China will apply the Convention, on the basis of reciprocity, to the recognition and enforcement of arbitral awards made in the territory of another Contracting State;

2. The People’s Republic of China will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of the People’s Republic of China.

Declaration

14 July 2005

In accordance with the provisions of Article 138 of the Basic Law of the Macao Special Administrative Region of the People’s Republic of China, the Government of the People’s Republic of China decides that the Convention on the Recognition and Enforcement of Arbitral Awards shall apply to the Macao Special Administrative Region of the People’s Republic of China. The statement made by the Government of the People’s Republic of China when acceding to the Convention on 22 January 1987 also applies to the Macao Special Administrative Region of the People’s Republic of China.

Cuba

Cuba will apply the Convention to the recognition and enforcement of arbitral awards made in the territory of another Contracting State. With respect to arbitral awards made by other non-contracting States it will apply the Convention only in so far as those States grant reciprocal treatment as established by mutual agreement between the parties. Moreover, it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under Cuban legislation.

Cyprus

The Republic of Cyprus will apply the Convention, on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another Contracting State; furthermore it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

Czechoslovakia

Czechoslovakia will apply the Convention to the recognition and enforcement of awards made in the territory of another Contracting State. With regard to awards made in the territory of non-contracting States it will apply the Convention only to the extent to which these States grant reciprocal treatment.

Denmark

In accordance with the terms of article I, paragraph 3, [the Convention] shall have effect only as regards the recognition and enforcement of arbitral awards made by another Contracting State and [it] shall be valid only with respect to commercial relationships.

Ecuador

Ecuador, on a basis of reciprocity, will apply the Convention to the recognition and enforcement of arbitral awards made in the territory of another contracting State only if such awards have been made with respect to differences arising out of legal relationships which are regarded as commercial under Ecuadorian law.

France

Referring to the possibility offered by paragraph 3 of article I of the Convention, France declares that it will apply the Convention on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another contracting State; it further declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

Germany, Federal Republic of

Objection

The Federal Republic of Germany is of the opinion that the second paragraph of the declaration of the Argentine Republic represents a reservation and as such is not only contradictory to article I(3) of the Convention but is also vague and hence inadmissible; it therefore raises an objection to that reservation.

In all other respects this objection is not intended to prevent the entry into force of the Convention between the Argentine Republic and the Federal Republic of Germany.

Greece

18 April 1980

The present Convention is approved on condition of the two limitations set forth in article I(3) of the Convention.

Guatemala

On the basis of reciprocity, the Republic of Guatemala will apply the above Convention to the recognition and enforcement of arbitral awards made only in the territory of another contracting State; and will apply it only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

Holy See

The State of Vatican City will apply the said Convention on the basis of reciprocity, on the one hand, to the recognition and enforcement of awards made only in the territory of another Contracting State, and on the other hand, only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under Vatican law.

Hungary

“…The Hungarian People’s Republic shall apply the Convention to the recognition and enforcement of such awards only as have been made in the territory of one of the other Contracting States and are dealing with differences arising in respect of a legal relationship considered by the Hungarian law as a commercial relationship.”

India

“In accordance with Article I of the Convention, the Government of India declare that they will apply the Convention to the recognition and enforcement of awards made only in the territory of a State, party to this Convention. They further declare that they will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the law of India.”

Indonesia

“Pursuant to the provision of article I (3) of the Convention, the Government of the Republic of Indonesia declares that it will apply the Convention on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another Contracting State, and that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the Indonesian Law.”

Iraq

The following reservations were effected on 11 November 2021

First, the provisions of the Convention shall not be applicable to the Republic of Iraq with respect to arbitral awards made before the law enters into force.

Second, the Convention shall be applicable with respect to the recognition and enforcement of awards made in the territory of another Contracting State only on the basis of reciprocity.

Third, the Convention shall be applicable to the Republic of Iraq only with respect to differences arising from contractual legal relations which are considered commercial under Iraqi law.

Ireland

“In accordance with article I (3) of the said Convention the Government of Ireland declares that it will apply the Convention to the recognition and enforcement of arbitral awards made only in the territory of another Contracting State.”

Jamaica

17 October 2003

Reservation

The Government of Jamaica, on the basis of Reciprocity, will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State, in accordance with article 1(3).

The Government of Jamaica further declares that the Convention will only be applied to differences arising out of legal relationships, whether contractual or not, which are considered to be commercial under the national laws of Jamaica in accordance with article 1(3) of the Convention.

Japan

“…It will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State.”

Jordan

The Government of Jordan shall not be bound by any awards which are made by Israel or to which an Israeli is a party.

Kenya

“In accordance with Article I (3) of the said Convention the Government of Kenya declares that it will apply the Convention to the recognition and enforcement of arbitral awards made in the territory of another Contracting State.”

Korea, Republic of

“By virtue of paragraph 3 of article I of the present Convention, the Government of the Republic of Korea declares that it will apply the Convention to the recognition and enforcement of arbitral awards made only in the territory of another Contracting State. It further declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.”

Kuwait

The State of Kuwait will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State.

It is understood that the accession of the State of Kuwait to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York, on the 10th of June 1958, does not mean in any way recognition of Israel or entering with it into relations governed by the Convention thereto acceded by the State of Kuwait.

Lithuania

Declaration

[The Republic of Lithuania] will apply the provisions of the said Convention to the recognition of arbitral awards made in the territories of the Non-Contracting States, only on the basis of reciprocity.

Luxembourg

Declaration

The Convention is applied on the basis of reciprocity to the recognition and enforcement of only those arbitral awards made in the territory of another Contracting State.

Macedonia, Former Yugoslav Republic of

16 September 2009

Withdrawal of the following reservation, originally made by the Socialist Federal Republic of Yugoslavia upon accession on 26 February 1982: 2. The Socialist Federal Republic of Yugoslavia will apply the Convention on a reciprocal basis only to those arbitral awards which were adopted on the territory of the other State Party to the Convention.

Madagascar

The Malagasy Republic declares that it will apply the Convention on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another contracting State; it further declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

Malaysia

Declaration

The Government of Malaysia will apply the Convention on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another Contracting State. Malaysia further declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under Malaysian law.

Malta

Declarations

1 In accordance with the relevant provisions of the Convention, Malta will apply the Convention only to the recognition and enforcement of awards made in the territory of another contracting state.

2 The Convention only applies in regard to Malta with respect to arbitration agreements concluded after the date of Malta’s accession to the Convention.

Mauritius

“In accordance with paragraph 3 of article I of the Convention, the Republic of Mauritius declares that it will, on the basis of reciprocity, apply the Convention only to the recognition and enforcement of awards made in the territory of another Contracting State.

Referring to paragraphs 1 and 2 of article X of the Convention, the Republic of Mauritius declares that this Convention will extend to all the territories forming part of the Republic of Mauritius.”

Monaco

Referring to the possibility offered by article I(3) of the Convention, the Principality of Monaco will apply the Convention, on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another contracting State; furthermore, it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

Mongolia

Declaration

1. Mongolia will apply the Convention, on the basis of reciprocity, to the recognition and enforcement of arbitral awards made only in the territory of another Contracting State.

2. Mongolia will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of Mongolia.

Morocco

The Government of His Majesty the King of Morocco will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State.

Netherlands

Referring to paragraph 3 of article I of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, the Government of the Kingdom declares that it will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State.

New Zealand

Declarations

“In accordance with paragraph 3 of article I of the Convention, the Government of New Zealand declares that it will apply the Convention, on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another Contracting State.”

“Accession to the Convention by the Government of New Zealand shall not extend for the time being, pursuant to article X of the Convention, to the Cook Islands and Niue.”

Nigeria

“In accordance with paragraph 3 of article I of the Convention, the Federal Military Government of the Federal Republic of Nigeria declares that it will apply the Convention on the basis of reciprocity to the recognition and enforcement of awards made only in the territory of a State party to this Convention and to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the laws of the Federal Republic of Nigeria.”

Norway

“1. [The Government of Norway] will apply the Convention only to the recognition and enforcement of awards made in the territory of one of the Contracting States.”

“2. [The Government of Norway] will apply the Convention to differences where the subject matter of the proceedings is immovable property situated in Norway, or a right in or to such property.”

Pakistan

Declaration

The Islamic Republic of Pakistan will apply the Convention to the recognition and enforcement of awards made only in the territory of (a) Contracting State.

Philippines

Upon signature:

Reservation

“The Philippine delegation signs ad referendum this Convention with the reservation that it does so on the basis of reciprocity.”

Declaration

The Philippines will apply the Convention to the recognition and enforcement of awards made only in the territory of another contracting State pursuant to Article I, paragraph 3 of the Convention.”

Declaration made on ratification

“The Philippines, on the basis of reciprocity, will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State and only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of the State making such declaration.”

Poland

“With reservations as mentioned in article I, para. 3.”

Portugal

“Within the scope of the principle of reciprocity, Portugal will restrict the application of the Convention to arbitral awards pronounced in the territory of a State bound by the said Convention.”

Romania

The Romanian People’s Republic will apply the Convention only to differences arising out of legal relationships whether contractual or not, which are considered as commercial under its legislation.

The Romanian People’s Republic will apply the Convention to the recognition and enforcement of awards made in the territory of another Contracting State. As regards awards made in the territory of certain non-contracting States, the Romanian People’s Republic will apply the Convention only on the basis of reciprocity established by joint agreement between the parties.

Russian Federation

“The Union of the Soviet Socialist Republics will apply the provisions of this Convention in respect of arbitral awards made in the territories of non-contracting States only to the extent to which they grant reciprocal treatments.”

Saudi Arabia, Kingdom of

On the basis of reciprocity, the Kingdom declares that it shall restrict the application of the Convention to the recognition and enforcement of arbitral awards made in the territory of the contracting states.

Seychelles

The following declarations were lodged on 21 July 2020 and accepted for deposit 22 July 2021:

“—Any case sub-judice in the Courts of Seychelles should not be affected by Seychelles’ accession to the Convention; and

—The Convention will apply in respect of cases after Seychelles acceded to the Convention, and not before.”

Singapore

“The Republic of Singapore will on the basis of reciprocity apply the said Convention to the recognition and enforcement of only those awards which are made in the territory of another Contracting State.”

Switzerland

Referring to the possibility offered by paragraph 3 of article I, Switzerland will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State.

Tanzania, United Republic of

“The Government of the United Republic of Tanganyika and Zanzibar will apply the Convention, in accordance with the first sentence of article I (3) thereof, only to the recognition and enforcement of awards made in the territory of another Contracting State.”

Trinidad and Tobago

“In accordance with article I of the Convention, the Government of Trinidad and Tobago declares that it will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State. The Government of Trinidad and Tobago further declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the Law of Trinidad and Tobago.”

Tunisia

With the reservations provided for in article I, paragraph 3, of the Convention, that is to say, the Tunisian State will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State and only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the Tunisian law.

Turkey

Declaration

In accordance with the article I, paragraph 3 of the Convention, the Republic of Turkey declares that it will apply the Convention on the basis of reciprocity, to the recognition and enforcement of awards made only in the territory of another contracting State. It further declares that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

Turkmenistan

The following declarations and reservations were effected on 4 May 2022.

—In accordance with article I (3) of the Convention, the Government of Turkmenistan declares that it will apply this Convention only to the recognition and enforcement of awards made in the territory of another Contracting State.

—In accordance with article I (3) of the Convention, the Government of Turkmenistan declares that it will apply this Convention only in relation to disputes which are considered as commercial disputes under the national law of Turkmenistan.

—The Government of Turkmenistan will apply this Convention only to the recognition and enforcement of awards which are rendered after the Convention enters into force for it.

Uganda

Declaration

The Republic of Uganda will only apply the Convention to recognition and enforcement of awards made in the territory of another Contracting State.

Ukrainian Soviet Socialist Republic

The Ukrainian Soviet Socialist Republic will apply the provisions of this Convention in respect to arbitral awards made in the territories of non-contracting States only to the extent to which they grant reciprocal treatment.

Union of Soviet Socialist Republics

The Union of Soviet Socialist Republics will apply the provisions of this Convention in respect of arbitral awards made in the territories of non-contracting States only to the extent to which they grant reciprocal treatment.

United Kingdom

5 May 1980

“The United Kingdom will apply the Convention only to the recognition and enforcement of awards made in the territory of another Contracting State. This declaration is also made on behalf of Gibraltar, Hong Kong and the Isle of Man to which the Convention has been extended.”

19 April 1985

“In accordance with article X(2) of the Convention . . . the Government of the United Kingdom [has decided to] extend the said Convention to Guernsey. The Convention will be applied in respect of Guernsey, in accordance with article I paragraph 3 thereof, only to the recognition and enforcement of awards made in the territory of another Contracting State.”

Declarations and reservations made upon notification of territorial application:

Belize, Bermuda, Cayman Islands, Guernsey

[The Convention will apply] . . . “in accordance with article I, paragraph 3 thereof, only to the recognition and enforcement of awards made in the territory of another Contracting State.”

United States of America

“The United States of America will apply the Convention, on the basis of reciprocity, to the recognition and enforcement of only those awards made in the territory of another Contracting State.”

“The United States of America will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of the United States.”

Venezuela

Declarations

1. The Republic of Venezuela will apply the Convention only to the recognition and enforcement of foreign arbitral awards made in the territory of another Contracting State.

2. The Republic of Venezuela will apply the present Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under its national law.

Vietnam

Declarations

1. [The Socialist Republic of Viet Nam] considers the Convention to be applicable to the recognition and enforcement of arbitral awards made only in the territory of another Contracting State. With respect to arbitral awards made in the territories of non-contracting States, it will apply the Convention on the basis of reciprocity.

2. The Convention will be applied only to differences arising out of legal relationships which are considered as commercial under the laws of Viet Nam.

3. Interpretation of the Convention before the Vietnamese Courts or competent authorities should be made in accordance with the Constitution and the law of Viet Nam.

Yugoslavia

The former Yugoslavia had acceded to the Convention on 26 February 1982 with the following reservation:

“1. The Convention is applied in regard to the Socialist Federal Republic of Yugoslavia only to those arbitral awards which were adopted after the coming of the Convention into effect.

2. The Socialist Federal Republic of Yugoslavia will apply the Convention on a reciprocal basis only to those arbitral awards which were adopted on the territory of the other State Party to the Convention.

3. The Socialist Federal Republic of Yugoslavia will apply the Convention [only] with respect to the disputes arising from the legal relations, contractual or not, which, according to its national legislation are considered as economic.”

In a later declaration dated 28 June 1982, the Government of Yugoslavia specified that the first reservation only constituted an affirmation of the legal principle of retroactivity and that the third reservation being essentially in accordance with article I(3) of the Convention, the word “only” was therefore to be added to the original text and note taken that the word “economic” had been used therein as a synonym for “commercial”.