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The High Contracting Parties agree that disputes arising between them relating to the interpretation or application of this Convention shall, if they cannot be settled by direct negotiation, be referred for decision to the International Court of Justice. In case either or both of the States Parties to such a dispute should not be parties to the Statute of the International Court of Justice, the dispute shall be referred, at the choice of the Parties and in accordance with the constitutional procedure of each State, either to the International Court of Justice or to a court of arbitration constituted in accordance with the Convention of October 18th, 1907, for the Pacific Settlement of International Disputes, or to some other court of arbitration.