Where does Velocity search for the template?

I need to use Velocity from Java-code in a web-application (I use it as mail-templates processor).

So, I have a standard code:

VelocityEngine ve = new VelocityEngine ();
try {
   ve.init ();
   Template t = ve.getTemplate (templatePath);
   ...   
} catch (Exception e) {
   throw new MailingException (e);
}

This code always throws the ResourceNotFoundException. Where should I place my templates in web-application (WEB-INF? classpath? etc?) and how should I specify path (i.e. what should I pass as templatePath)?