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(a). The competent authorities of the Contracting Parties shall endeavour to resolve by negotiation any dispute relating to the interpretation or application of this Convention.
(b). If any such dispute has not been resolved by negotiation within a period of three months, the dispute shall be submitted to arbitration by an arbitral body whose composition and procedure shall be agreed upon by the Contracting Parties concerned or, in default of such agreement within a further period of three months, by an arbitrator chosen at the request of any of the Contracting Parties concerned by the President of the International Court of Justice. Should the latter be a national of one of the Parties to the dispute, this task shall be entrusted to the Vice-President of the Court or to the next judge in order of seniority not a national of one of the Parties to the dispute.
(c). The decision of the arbitral body or arbitrator, as the case may be, shall be made in accordance with the principles and spirit of this Convention and shall be final and binding.