Hay–Bunau-Varilla Treaty
| Type | bilateral treaty |
|---|---|
| Signed | 18 November 1903 |
| Location | Washington, DC, USA |
| Original signatories |
Panama USA |
| Ratifiers | Panama USA |
The Hay–Bunau-Varilla Treaty (Spanish: Tratado Hay-Bunau Varilla) was a treaty signed on November 18, 1903, by the United States and Panama, which established the Panama Canal Zone and the subsequent construction of the Panama Canal. It was named after its two primary negotiators, Philippe-Jean Bunau-Varilla, the French diplomatic representative of Panama, and United States Secretary of State John Hay.
Bunau-Varilla was originally involved in the building of the Panama Canal under Ferdinand de Lesseps, who had built the Suez Canal. After the collapse of the de Lesseps efforts to build the Panama Canal, Bunau-Varilla became an important shareholder of the Compagnie Nouvelle du Canal de Panama, which still had the concession, as well as certain valuable assets, for the building of a canal in Panama. Although not Panamanian himself, Bunau-Varilla had provided financial assistance to the rebel side in Panama's independence from Colombia, which occurred two weeks prior to the signing of the treaty. He had not, however, been in Panama for seventeen years, nor had he ever returned. As part of the Hay–Bunau-Varilla negotiations, the U.S. bought the shares and assets of the Compagnie Nouvelle du Canal de Panama for US$40 million.
The United States guarantees the freedom of the Republic of Panama
The Republic of Panama grants the United States with the use of the land said canal be built, the surrounding land for construction purposes, and all islands within the limits of the zone
The Republic of Panama grants to the United States all the rights, power and authority within the zone mentioned which the United States would possess and exercise if it were the sovereign of the territory within which said lands and waters are located to the entire exclusion of the exercise by the Republic of Panama of any such sovereign rights, power or authority.
The United States has the right to use lakes, oceans, and other bodies of water around Panama for transportation purposes
The Republic of Panama grants the United States a monopoly for the construction, maintenance, and operation of any system of communication dealing with the canal
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