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II.2.240 INTER-AMERICAN CONVENTION ON INTERNATIONAL COMMERCIAL ARBITRATION, 1975

The Ratification of Maritime Conventions

Chapter I.2.240

INTER-AMERICAN CONVENTION ON INTERNATIONAL COMMERCIAL ARBITRATION, 1975

ADOPTED: Signed at Panama, on 30 January, 1975
REFERENCE: OAS Treaty Series, No. 42
UN TREATY NUMBER: No. 24384
ENTERED INTO FORCE: 16 June 1976
DEPOSITARY: OAS General Secretariat
SECRETARY: OAS General Secretariat

IMPLEMENTATION

SIGNATURE, RATIFICATION AND ACCESSION

Article VII

This Convention shall be open for signature by the Members of the Organisation of American States.

Article VIII

This Convention is subject to ratification. The instruments of ratification shall be deposited with the General Secretariat of the Organisation of American States.

Article IX

This Convention shall remain open for accession by any other State. The instruments of accession shall be deposited with the General Secretariat of the Organisation of American States.

ENTRY INTO FORCE

Article X

This Convention shall enter into force on the thirtieth day following the date of deposit of the second instrument of ratification.

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

DENUNCIATION

Article XII

This Convention shall remain in force indefinitely, but any of the States Parties may denounce it. The instrument of denunciation shall be deposited with the General Secretariat of the Organisation of American States. After one year from the date of deposit of the instrument of denunciation, the Convention shall no longer remain in effect for the other States Parties.

TERRITORIAL APPLICATION

Article XI

If a State Party has two or more territorial units in which different systems of law apply in relation to the matters dealt with in this Convention, it may at the time of signature, ratification or accession, declare that this Convention shall extend to all its territorial units or only to one or more of them.

Such declaration may be modified by subsequent declarations, which shall expressly indicate the territorial unit or units to which the Convention applies. Such subsequent declarations shall be transmitted to the General Secretariat of the Organisation of American States, and shall become effective thirty days after the date of their receipt.

DECLARATIONS AND RESERVATIONS

United States

Reservations made at the time of ratification

1. Unless there is an express agreement among the parties to an arbitration agreement to the contrary, where the requirements for application of both the Inter-American Convention on International Commercial Arbitration and the Convention on the Recognition and Enforcement of Foreign Arbitral Awards are met, if a majority of such parties are citizens of a state or states that have ratified or acceded to the Inter-American Convention and are member states of the Organization of American States, the Inter-American Convention shall apply. In all other cases, the Convention on the Recognition and Enforcement of Foreign Arbitral Awards shall apply.

2. The United States of America will apply the rules of procedure of the Inter-American Commercial Arbitration Commission which are in effect on the date that the United States of America deposits its instruments of ratification, unless the United States of America makes a later official determination to adopt and apply subsequent amendments to such rules.

3. 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.

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