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3. The Convention shall be open for signature until 31 December 1961 inclusive. Thereafter, it shall be open for accession.
4. This Convention shall be ratified.
5. Ratification or accession shall be effected by the deposit of an instrument with the Secretary-General of the United Nations.
8. This Convention shall come into force on the ninetieth day after five of the countries referred to in paragraph 1 above have deposited their instruments of ratification or accession. For any country ratifying or acceding to it later this Convention shall enter into force on the ninetieth day after the said country has deposited its instrument of ratification or accession.
9. Any Contracting Party may denounce this Convention by so notifying the Secretary-General of the United Nations. Denunciation shall take effect twelve months after the date of receipt by the Secretary-General of the notification of denunciation.
10. If, after the entry into force of this Convention, the number of Contracting Parties is reduced, as a result of denunciations, to less than five, the Convention shall cease to be in force from the date on which the last of such denunciations takes effect.
(Unless otherwise indicated, the declarations and reservations were made upon ratification or accession)
In accordance with article II, paragraph 2 of the Convention, the Belgian Government declares that in Belgium only the State has, in the cases referred to in article I, paragraph 1, the faculty to conclude arbitration agreements.
In accordance with article II, paragraph 2, of the European Convention on International Commercial Arbitration, the Republic of Latvia declares that article II, paragraph 1, does not apply for state authorities and local government authorities.
Except where otherwise expressly provided for in the arbitration agreement, the presiding judges of the local courts shall assume the functions entrusted to the presidents of the chambers of commerce under article IV of the Convention. The presiding judges shall hear the disputes in chambers.
In a communication received on 4 January 1994, the Ukrainian Ministry of Foreign Affairs declared that:
“As a result of the dissolution of the All-Union Chamber of Commerce, the functions envisaged in Article IV of the above-mentioned Convention will henceforth be exercised in Ukraine by the Chamber of Commerce and Industry of Ukraine.”
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