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ANNEX 2: ARBITRATION

During the Conference the topic of arbitration was discussed within the context of dispute settlement. Some delegates suggested that an annex be drafted to outline arbitration mechanisms. The Chair based his draft partially on informal consultations, as well as the annex on arbitration in A/CONF.164/L.11, a draft convention submitted by Argentina, Canada, Chile, Iceland and New Zealand. The annex contains the following subheadings: Institution of proceedings; Constitution of arbitral tribunal; Submission of Memoranda; Hearings; Procedure; Duties of a Party to a dispute; Expenses; Required majority for decision; Default of appearance; Provisional measures; Award; Finality of Award; Interpretation or implementation of the dispute; and Application to entities.