Article I - Scope of the Convention

1. This Convention shall apply:

(a) to arbitration agreements concluded for the purpose of settling disputes arising from international trade between physical or legal persons having, when concluding the agreement, their habitual place of residence or their seat in different Contracting States;

(b) to arbitral procedures and awards based on agreements referred to in paragraph 1(a) above.

2. For the purpose of this Convention,

(a) the term: "arbitration agreement" shall mean either an arbitral clause in a contract or an arbitration agreement, the contract or arbitration agreement being signed by the parties, or contained in an exchange of letters, telegrams, or in a communication by teleprinter and, in relations between States whose laws do not require that an arbitration agreement be made in writing, any arbitration agreement concluded in the form authorized by these laws;

(b) the term "arbitration" shall mean not only settlement by arbitrators appointed for each case ( ad hoc arbitration) but also by permanent arbitral institutions;

(c) the term "seat" shall mean the place of the situation of the establishment that has made the arbitration agreement.