Page:United States Statutes at Large Volume 104 Part 1.djvu/483

 PUBLIC LAW 101-369 —AUG. 15, 1990 104 STAT. 449 "§ 304. Recognition and enforcement of foreign arbitral decisions and awards; reciprocity "Arbitral decisions or awards made in the territory of a foreign State shall, on the beisis of reciprocity, be recognized and enforced under this chapter only if that State has ratified or acceded to the Inter-American C!onvention. "§ 305. Relationship between the Inter-American Convention and the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of June 10, 1958 "When the requirements for application of both the Inter-American Convention and the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of June 10, 1958, are met, determination as to which Convention applies shall, unless otherwise expressly agreed, be made as follows: "(1) If a majority of the parties to the arbitration agreement are citizens of a State or States that have ratified or acceded to the Inter-American Convention and are member States of the Organization of American States, the Inter-American Convention shall apply. "(2) In all other cases the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of June 10, 1958, shall apply. " § 306. Applicable rules of Inter-American Commercial Arbitration Commission "(a) For the purposes of this chapter the rules of procedure of the Inter-American Commercial Arbitration Commission referred to in Article 3 of the Inter-American Convention shall, subject to subsection Qoi) of this section, be those rules as promulgated by the Commission on July 1, 1988. "(b) In the event the rules of procedure of the Inter-American Commercial Arbitration Commission are modified or amended in accordance with the procedures for amendment of the rules of that Commission, the Secretary of State, by regulation in accordance with section 553 of title 5, consistent with the aims and purposes of this Convention, may prescribe that such modifications or amendments shall be effective for purposes of this chapter. " § 307. Chapter 1; residual application "Chapter 1 applies to actions and proceedings brought under this chapter to the extent chapter 1 is not in conflict with this chapter or the Inter-American Convention as ratified by the United States.".

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