The Convention established a Boundary Commission to set borders between Georgia and Florida, while Spain provided compensation of £95,000 for confiscated British property.

In return, the British South Sea Company would pay £68,000 to settle Spanish claims for profits due on the Asiento de Negros.

Despite being owned by the British government, it refused to do so; both countries rejected the Convention, leading to the outbreak of the War of Jenkins' Ear on 23 October 1739.

[1] The 1713 Treaty of Utrecht ending the War of the Spanish Succession included commercial provisions allowing Britain to trade directly with New Spain.

[3] The real profits came from smuggled goods that evaded customs duties, with demand from Spanish colonists creating a large black market.

[5] The British accepted the occasional confiscation of ships and goods as part of the cost of business but were concerned by the prospect of being replaced by the French.

[7] The 1729 Treaty of Seville allowed the Spanish to board British vessels trading with New Spain; in 1731, Robert Jenkins, captain of the Rebecca, claimed a coast guard officer severed his ear.

The Spanish Empire in the Caribbean remained intact and victorious despite several English attempts to seize some of its heavily defended and fortified colonies.