Chapter I: On the System of Arbitration

ARTICLE XV.
International arbitration has for its object the settlement
of differences between States by judges of their own
choice, and on the basis of respect for law.

ARTICLE XVI.
In questions of a legal nature, and especially in the
interpretation or application of International Conventions,
arbitration is recognized by the Signatory Powers as the
most effective, and at the same time the most equitable,
means of settling disputes which diplomacy has failed to
settle.

ARTICLE XVII.
The Arbitration Convention is concluded for questions
already existing or for questions which may arise
eventually. It may embrace any dispute or only disputes of
a certain category.

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ARTICLE XVIII.
The Arbitration Convention implies the engagement to submit
loyally to the Award.

ARTICLE XIX.
Independently of general or private Treaties expressly
stipulating recourse to arbitration as obligatory on the
Signatory Powers, these Powers reserve to themselves the
right of concluding, either before the ratification of the
present Act or later, new Agreements, general or private,
with a view to extending obligatory arbitration to all
cases which they may consider it possible to submit to it.