As per Article V, the treaty cannot be interpreted as a "renunciation or diminution" of any basis of claim to the territorial sovereignty of British Guiana,[1] thus upholding the 1899 Arbitral Award as legally binding.

[7] The Geneva Agreement established the creation of a "Mixed Commission" composed of representatives of Venezuela and British Guiana (with no direct participation by the United Kingdom), which was given a period of four years to arrive at a final resolution regarding the border controversy, or else choose some other form of peaceful settlement outlined by the UN.

In 1970, at the end of this four-year period, the Port of Spain Protocol was signed by Guyana, Venezuela, and the United Kingdom, in order to essentially "freeze" parts of the Geneva Agreement for twelve years.

[9] In 1987, Guyana and Venezuela decided to accept the Good Offices method, following the General Act for the Pacific Settlement of International Disputes, which would be put into effect in 1989.

Following this agreement, a representative of the Secretary General chosen and accepted by the parties would serve as a mediator between the governments so that they reach a satisfactory solution as dictated by the treaty.

Defense Minister Vladamir Padrino Lopez stresses that Venezuelans should continue to claim their territory and stated on his social media "The Sun of Venezuela is born in the Essequibo.

In his work The West on Trial (1996), he stated his regrets about the return of the border controversy:[15] The PNC-UF coalition government jointly signed the Geneva Agreement with the Venezuelan and British governments… and created a Mixed Commission (Guyana-Venezuela).