The succession on March 12, 2001, with effect from April 27, 1992, by the Federal Republic of Yugoslavia was accompanied by a confirmation of the reservations and declaration made by the Socialist Federal Republic of Yugoslavia.
The Social Federal Republic of Yugoslavia had acceded to the Convention on February 26, 1982, with effect from May 27, 1982, with the following reservations:
"1. The Convention is applied in regard to the Socialist Federal Republic of Yugoslavia only to those arbitral awards which were adopted after the coming of the Convention into effect.
2. The Socialist Federal Republic of Yugoslavia will apply the Convention on a reciprocal basis only to those arbitral awards which were adopted on the territory of the other State Party to the Convention.
3. The Socialist Federal Republic of Yugoslavia will apply the Convention [only] with respect to the disputes arising from the legal relations, contractual and non-contractual, which, according to its national legislation are considered as economic."
In a later declaration dated June 28, 1982, the Government of Yugoslavia had specified that the first reservation only constituted an affirmation of the legal principle of retroactivity and that the third reservation being essentially in accordance with article I (3) of the Convention, the word "only" was therefore to be added to the original text and note taken that the word "economic" had been used therein as a synonym for "commercial"."
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