The Hague Convention (XII) of 1907 relative to the creation of an International Prize Court provides in Article 7 that the Court shall apply the generally recognized rules of international law relative to prize. In view of the divergencies which existed with regard to those rules, the British Government convened the main sea Powers to a conference in order to lay down the rules mentioned above. Ten Powers participated in the Conference. Most of the rules embodied in the present Declaration correspond to established practice and decisions of national prize courts. Due to its rejection by the British House of Lords, the Declaration was not ratified by any signatory.