The two warring factions were urged by the British and French foreign ministers, Douglas Hurd and Alain Juppe, to accept the plan as the only alternative to a wider war.
Both the Bosnian Serb assembly in Pale and the Moslem-Croat parliament in Sarajevo are scheduled to meet Monday, a day before the deadline set by the international community for a "yes or no" response to the peace plan.
Moslem President Alija Izetbegovic said he would recommend the plan to the Bosnian parliament on condition the country's integrity was guaranteed.
In Pale, Bosnian Serb leader Radovan Karadzic said it was not for him, but for the assembly, to decide.
Political analysts said the Serb assembly would probably wait to see what was decided in Sarajevo.
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