October 11, 2007

UN Convention on Law of the Sea stipulates Award would be legally binding on both parties

GINA (Government Information Agency)

GEORGETOWN - The Ministry of Foreign Affairs announced that both Guyana and Suriname committed to accept as final, binding and non-appealable and to fully comply with, the Award of the Arbitral Tribunal which was established under the United Nations Convention on the Law of the Sea to determine the maritime boundary between the two States.

The United Nations Convention on the Law of the Sea stipulates that the Award would be legally binding on both Parties.

The Parties are entitled to request an interpretation of any part of the Award that may be unclear but they cannot appeal to the Tribunal to make any substantive changes to the Award.  This is prohibited by the Convention and by the specific Rules of Procedure applicable to this arbitration.

Ministry of Foreign Affairs

October 11, 2007