In February 1608 Dutch negotiators submitted to their Spanish counterparts three different proposals regarding overseas trade in the East Indies.
The first proposal suggested that peace in Europe be established with free trade permitted in overseas territories that were not controlled by the Spanish Empire.
The second proposal suggested that peace in Europe be established along with a truce permitting free overseas trade for a period of years.
Based on the terms of the accord, the Netherlands was granted the right to trade within overseas territories controlled by the Spanish Empire under the condition that it acquire an express license from the King of Spain.
According to a protocol written by English and French envoys, the Dutch managed during the negotiations to reserve the right to help any natives that concluded treaty relations with them and that such actions would not constitute a violation of the overall armistice.