2. Unless the parties to the dispute decide otherwise, any dispute arising out of the interpretation or application of the present Agreement which cannot be settled in accordance with paragraph (1) of this Article shall, at the request of any party to the dispute, be settled by a final and binding arbitration in accordance with the Permanent Court of Arbitration’s “Optional Rules for Arbitration involving International Organizations and States”, as in force on the date on which this Agreement is opened for signature. The number of arbitrators shall be either one or three, based on the agreement between the parties to the dispute. If a sole arbitrator is to be appointed, they shall be appointed by mutual agreement of the parties to the dispute or, failing that, by the Secretary-General of the Permanent Court of Arbitration. When the arbitral tribunal is composed of three members, each party to the dispute shall appoint one arbitrator, and the third presiding arbitrator, shall be appointed by mutual agreement between the two arbitrators or, failing that, by the Secretary-General of the Permanent Court of Arbitration. Before appointment or confirmation, a prospective arbitrator shall sign a statement of acceptance, availability, impartiality and independence. The award(s) of the arbitral tribunal shall be final and binding on the ICPO-INTERPOL and the other party or parties to the dispute.