Dictionary.net

The permanent court of arbitration created by the "International Convention for the Pacific Settle of International Disputes.", adopted by the International Peace Conference of 1899. It is composed of persons of known competency in questions of international law, nominated by the signatory powers. From these persons an arbitration tribunal is chosen by the parties to a difference submitted to the court. On the failure of the parties to agree directly on the arbitrators, each chooses two arbitrators, an umpire is selected by them, by a third power, or by two powers selected by the parties.

The permanent court of arbitration created by the "International Convention for the Pacific Settle of International Disputes.", adopted by the International Peace Conference of 1899. It is composed of persons of known competency in questions of international law, nominated by the signatory powers. From these persons an arbitration tribunal is chosen by the parties to a difference submitted to the court. On the failure of the parties to agree directly on the arbitrators, each chooses two arbitrators, an umpire is selected by them, by a third power, or by two powers selected by the parties.