۱. A State Party which is a party to a dispute concerning the interpretation or application of this Convention may invite the other party or parties to submit the dispute to conciliation in accordance with the procedure under Annex V, section ۱, or another conciliation procedure.
۲. If the invitation is accepted and if the parties agree upon the conciliation procedure to be applied, any party may submit the dispute to that procedure.
۳. If the invitation is not accepted or the parties do not agree upon the procedure, the conciliation proceedings shall be deemed to be terminated.
۴. Unless the parties otherwise agree, when a dispute has been submitted to conc iliation, the pro ceedings may be terminated only in accordance with the agreed conciliation procedure.