CHAPTER II.--SHIPPING

=ARTICLE 271.=--As regards sea fishing, maritime coasting trade, and maritime towage, vessels of the Allied and Associated Powers shall enjoy, in German territorial waters, the treatment accorded to vessels of the most-favored nation.

=ARTICLE 272.=--Germany agrees that, notwithstanding any stipulation to the contrary contained in the conventions relating to the North Sea fisheries and liquor traffic, all rights of inspection and police shall, in the case of fishing boats of the Allied Powers, be exercised solely by ships belonging to those powers.

=ARTICLE 273.=--In the case of vessels of the Allied or Associated Powers, all classes of certificates or documents relating to the vessel, which were recognized as valid by Germany before the war, or which may hereafter be recognized as valid by the principal maritime States, shall be recognized by Germany as valid and as equivalent to the corresponding certificates issued to German vessels.

A similar recognition shall be accorded to the certificates and documents issued to their vessels by the Governments of new States, whether they have a seacoast or not, provided that such certificates and documents shall be issued in conformity with the general practice observed in the principal maritime States.

The high contracting parties agree to recognize the flag flown by the vessels of an Allied or Associated Power having no seacoast which are registered at some one specified place situated in its territory; such place shall serve as the port of registry of such vessels.