Publisher's Synopsis
Excerpt from Notes on the Arbitration Treaty
Pecuniary claims which do not exceed nor involve territorial claims, shall be dealt with by an ordinary tribunal 3composed of two jurists of repute, one being named by each of the parties, who shall choose an umpire within three months. If they fail to agree, the appointment of an umpire shall devolve upon the Supreme Court of the United States and the Judicial Committee of the Privy Council, and if these bodies do not agree within three months the King of Sweden shall appoint. The award of a majority of the members shall be final.
Pecuniary claims which shall exceed and all other arbitrable questions, except those involving territorial claims, shall be submitted to the ordinary tribunal whose award, if unan imous, shall be final. If not unanimous either party may appeal within six months -to a tribunal which shall be composed of five jurists of repute (no one of whom shall have been a member of the original tribunal), two to be named by each party and the fifth to be selected according to the provisions for the selection of an umpire for the ordinary tribunal. The award of the majority of the members of the appellate tribunal shall be final.
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