Artikel V

1. Any dispute between the Government of Surinam or the Netherlands Antilles and any Officer arising out of or relating to the conditions of his service may be referred to the Organization providing the Officer by either the Government concerned or the Officer involved, and the Organization concerned shall use its good offices to assist them in arriving at a settlement. If the dispute cannot be settled in accordance with the preceding sentence, the matter shall be submitted to arbitration at the request of either party to the dispute pursuant to paragraph 3 of this Article.
2. Any dispute between the Organizations and the Government of the Kingdom or the Government of Surinam or the Netherlands Antilles arising out of or relating to this Agreement which cannot be settled by negotiation or other agreed mode of settlement shall be submitted to arbitration at the request of either party to the dispute pursuant to paragraph 3 of this Article.
3. Any dispute to be submitted to arbitration shall be referred to three arbitrators for a decision by a majority of them. Each party to the dispute shall appoint one arbitrator, and the two arbitrators so appointed shall appoint the third, who shall be the chairman. If within sixty days of the request for arbitration either party has not appointed an arbitrator or if within thirty days of the appointment of two arbitrators the third arbitrator has not been appointed, either party may request the Secretary-General of the Permanent Court of Arbitration to appoint an arbitrator. The procedure of the arbitration shall be fixed by the arbitrators, and the expenses of the arbitration shall be borne by the parties as assessed by the arbitrators. The arbitral award shall contain a statement of the reasons on which it is based and shall be accepted by the parties to the dispute as the final adjudication thereof.