Selanjutnya
P R 0 T 0 C 0 L
on the settlement of outstanding financial problems
between the REPUBLIC of INDONESIA and the SOCIALIST
REPUBLIC of ROMANIA.
From December 9,1968 to December 23,1968, negotiations
have been carried on between an Indonesian economic delegation
and a Romanian economic delegation, with the purpose of the
settlement of the outstanding financial problems between the
REPUBLIC of INDONESIA and the SOCIALIST REPUBLIC of ROMANIA .
The Romanian party :
- having in mind the needs of the Indonesian economy and
desiring to meet the wish of the Indonesian Government
to postpone the date of repayment of Indonesian obligations
resulting from the mutual economic and trade relations
- taking note that the Indonesian party declare·d that it
attaches importance to the fulfilment of the payment
obligations dealt with in this PROTOCOL and assumes
responsibility for their fulfilment ;
at the request of the Indonesian Party, the Romanian Party
agreed to the rescheduling of the said payment obligations .
As a result of the negotiations, the following
agreement has been reached ;
Article
1
The subject of this PROTOCOL is the rescheduling of
the payment of the Indonesian obligations towards Foreign Trade
State Companies of the Socialist Republic of Romania which have
been due but unpaid and those which will become due on 31st
December 1968 and in the coming years of 1969 and 1970 as well .
- 2 -
- 2 -
With regard to the Indonesian export proceeds not
yet transferred by The National B8.nk of The Socialist Republic
of Romania, an arrangement has been reached too .
Article
2
Subject to a final reconciliation of figures to be
conducted by the Bank Negara Indonesia Unit I and the Romanian
Bank for Foreign Trade, reconciliation of figures which should
be done within two months after the signing of the present
Protocol, the amounts referred to under Article 1 comprise the
following : a) Indonesian short term obligation arisen from the
delivery of.road-rollers amounting to £ 158 , 212 . 4 . 5 .
b) Indonesian long term obligations arisen from the
delivery of freight-car s ｡ｭｾﾵｮｴｩｧ＠
to £ 5 , 882 , 468 . 18 . 11 .
(including the interest up to the original maturity
date for each instalment, according to column 3 of the
appendix No . 1 to the present Protocol) .
c) Indonesian export proceeds not yet transferred by The
National Bank of The Socialist Republic of Romania,
amounting to £ 551 , 636 . 16 . 6 .
Article
3
The original maturity dates of the Indonesian longterm obligations as referred to under Article 2 paragraph (b)
are stipula ted in the appendix No . 1 to the present Protocol .
Article
4
Both parties agree that :
1 . Indonesian export proceeds referred to under Article 2
paragraph (c), shall be used in full compensation for
the direct payment of the Indonesian short-term
obligation under Article 2 paragraph (a), and the
balance for direct partial payment of the 1965
instalment under Article ; .
- 3 -
- 3 2. The balance of the 1965 instalment amounting to
US $ 1 , 488 , 980 . 05 plus the moratorium interest will
be paid on 31st December 1970 .
3. The remaining instalments of 1966 , 1967, 1968 , 1969
and 1970 as referred to under Article 3, .will be paid
respectively in the coming years of 1971, 1972, 1973,
1974 and 1975, according to the schedule stipulated in
the appendix number 2 to the present Protocol .
4. The moratorium interest will be calculated at the rate
of 4% per annum as from the respective dates of the
original maturities up to the new maturities dates , as
ｳｴｩｰｾｬ｡･､＠
in the above paragraphs number 2 and 3.
There will be no payment of interest on interest .
Payment of moratorium interest will be made together
with the above mentioned payment of Principals ,
according to the schedule stipulated in the appendix
number 2 to the present Protocol .
5. The total Indonesian obligations (including the
moratorium interest) to be paid by the Republic of
Indonesia to the Socialist .Republic of Romania according
to the agreed new-schedule , amounts'b:> US I 15,827 , 654 . 95,
subject to the reconciliation mentioned under Article 2 .
Article
5
In order to secure the payments according to Article
4, the Bank Negara Indonesia Unit I, will issue promissory notes
within 45 days after the entering into force of the present
Protocol, undertaking payments in its own name to the Romanian
ｾ｡ｮｫ＠
for Foreign Trade .
AD.l promissory notes will be issued in US • Payments
obligations covered by these promissory notes and outstanding
payments in other currencies than US Ｄｾ＠
should be converted into
US $, at the I .M. F . rates of the currencies concerned, prevailing
at the date of the issue of the respective promissory notes .
- 4 -
- 4 In fulfilment of the payments of these promissory
notes at their maturity dates, the Bank Negara Indonesia
Unit I shall put at the disposal of the Romanian Bank for
Foreign Trade, the respective amounts at a correspondent bank
of the Romanian Bank for Foreign Trade, to be designated by
the latter .
The receipt of these promiss0ry notes by the Romanian
Bank for Foreign Trade, will release the Bank Negara Indonesia
Unit I from its former payment obligations .
The drafts and other documents issued by Bank Negara
Indonesia Unit I, will be substituted by the afore mentioned
promise cry notes . ·
Article 6
Should the official par value of the US $ to the fine
gold (being at present 1 US$ equal to 0 . 888671 gr . of ｟ ｦｩｮｾ＠
gold)
be modified before the maturity dates of the outstanding
promissory notes, the amount of these promissary notes will be
proportionately adjusted and replaced by the Bank Negara
Indonesia Unit I, for new ones, the amounts of which shall
represent the same gold value as the old ones were representing
as before the change in the official par value of the US $ to
the fine gold.
Article 7
A banking arrangement for the implementation of the
provisions of the present Protocol will be concluded between
Bank Negara Indonesia Unit I and the Romanian Bank for Foreign
Trade, within 30 days from the entering into force of the
present Protocol . The Republic of Indonesia guarantees herewith
the transfers on the maturity dates of the amounts due in
acdordance with the agreement contained in the present ｾｲｯｴ｣ｬ＠
and in accordance with the Banking Arrangement to be made for
its implementation and also guarantees to grant necessary
licences .
5 .•••.••
.:.. 5 -
Article
8
The present Protocol comes into force after the
approval of the competent authorities of both Contracting Parties
and shall remain valid until the full settlement of the obligation
as stipulated above .
The parties will immediately notify each other about
the approval .
Done and signed at .Djakarta on the 23rd of December
1968, in two original copies in the English language, both texts
being equally authentic.
For the Government of
the Republic of Indonesia,
Signed
Ismael M. Thajeb
I
For the Government of
the Socialist Republic
of Romania,
Signed
Florian Stoica
on the settlement of outstanding financial problems
between the REPUBLIC of INDONESIA and the SOCIALIST
REPUBLIC of ROMANIA.
From December 9,1968 to December 23,1968, negotiations
have been carried on between an Indonesian economic delegation
and a Romanian economic delegation, with the purpose of the
settlement of the outstanding financial problems between the
REPUBLIC of INDONESIA and the SOCIALIST REPUBLIC of ROMANIA .
The Romanian party :
- having in mind the needs of the Indonesian economy and
desiring to meet the wish of the Indonesian Government
to postpone the date of repayment of Indonesian obligations
resulting from the mutual economic and trade relations
- taking note that the Indonesian party declare·d that it
attaches importance to the fulfilment of the payment
obligations dealt with in this PROTOCOL and assumes
responsibility for their fulfilment ;
at the request of the Indonesian Party, the Romanian Party
agreed to the rescheduling of the said payment obligations .
As a result of the negotiations, the following
agreement has been reached ;
Article
1
The subject of this PROTOCOL is the rescheduling of
the payment of the Indonesian obligations towards Foreign Trade
State Companies of the Socialist Republic of Romania which have
been due but unpaid and those which will become due on 31st
December 1968 and in the coming years of 1969 and 1970 as well .
- 2 -
- 2 -
With regard to the Indonesian export proceeds not
yet transferred by The National B8.nk of The Socialist Republic
of Romania, an arrangement has been reached too .
Article
2
Subject to a final reconciliation of figures to be
conducted by the Bank Negara Indonesia Unit I and the Romanian
Bank for Foreign Trade, reconciliation of figures which should
be done within two months after the signing of the present
Protocol, the amounts referred to under Article 1 comprise the
following : a) Indonesian short term obligation arisen from the
delivery of.road-rollers amounting to £ 158 , 212 . 4 . 5 .
b) Indonesian long term obligations arisen from the
delivery of freight-car s ｡ｭｾﾵｮｴｩｧ＠
to £ 5 , 882 , 468 . 18 . 11 .
(including the interest up to the original maturity
date for each instalment, according to column 3 of the
appendix No . 1 to the present Protocol) .
c) Indonesian export proceeds not yet transferred by The
National Bank of The Socialist Republic of Romania,
amounting to £ 551 , 636 . 16 . 6 .
Article
3
The original maturity dates of the Indonesian longterm obligations as referred to under Article 2 paragraph (b)
are stipula ted in the appendix No . 1 to the present Protocol .
Article
4
Both parties agree that :
1 . Indonesian export proceeds referred to under Article 2
paragraph (c), shall be used in full compensation for
the direct payment of the Indonesian short-term
obligation under Article 2 paragraph (a), and the
balance for direct partial payment of the 1965
instalment under Article ; .
- 3 -
- 3 2. The balance of the 1965 instalment amounting to
US $ 1 , 488 , 980 . 05 plus the moratorium interest will
be paid on 31st December 1970 .
3. The remaining instalments of 1966 , 1967, 1968 , 1969
and 1970 as referred to under Article 3, .will be paid
respectively in the coming years of 1971, 1972, 1973,
1974 and 1975, according to the schedule stipulated in
the appendix number 2 to the present Protocol .
4. The moratorium interest will be calculated at the rate
of 4% per annum as from the respective dates of the
original maturities up to the new maturities dates , as
ｳｴｩｰｾｬ｡･､＠
in the above paragraphs number 2 and 3.
There will be no payment of interest on interest .
Payment of moratorium interest will be made together
with the above mentioned payment of Principals ,
according to the schedule stipulated in the appendix
number 2 to the present Protocol .
5. The total Indonesian obligations (including the
moratorium interest) to be paid by the Republic of
Indonesia to the Socialist .Republic of Romania according
to the agreed new-schedule , amounts'b:> US I 15,827 , 654 . 95,
subject to the reconciliation mentioned under Article 2 .
Article
5
In order to secure the payments according to Article
4, the Bank Negara Indonesia Unit I, will issue promissory notes
within 45 days after the entering into force of the present
Protocol, undertaking payments in its own name to the Romanian
ｾ｡ｮｫ＠
for Foreign Trade .
AD.l promissory notes will be issued in US • Payments
obligations covered by these promissory notes and outstanding
payments in other currencies than US Ｄｾ＠
should be converted into
US $, at the I .M. F . rates of the currencies concerned, prevailing
at the date of the issue of the respective promissory notes .
- 4 -
- 4 In fulfilment of the payments of these promissory
notes at their maturity dates, the Bank Negara Indonesia
Unit I shall put at the disposal of the Romanian Bank for
Foreign Trade, the respective amounts at a correspondent bank
of the Romanian Bank for Foreign Trade, to be designated by
the latter .
The receipt of these promiss0ry notes by the Romanian
Bank for Foreign Trade, will release the Bank Negara Indonesia
Unit I from its former payment obligations .
The drafts and other documents issued by Bank Negara
Indonesia Unit I, will be substituted by the afore mentioned
promise cry notes . ·
Article 6
Should the official par value of the US $ to the fine
gold (being at present 1 US$ equal to 0 . 888671 gr . of ｟ ｦｩｮｾ＠
gold)
be modified before the maturity dates of the outstanding
promissory notes, the amount of these promissary notes will be
proportionately adjusted and replaced by the Bank Negara
Indonesia Unit I, for new ones, the amounts of which shall
represent the same gold value as the old ones were representing
as before the change in the official par value of the US $ to
the fine gold.
Article 7
A banking arrangement for the implementation of the
provisions of the present Protocol will be concluded between
Bank Negara Indonesia Unit I and the Romanian Bank for Foreign
Trade, within 30 days from the entering into force of the
present Protocol . The Republic of Indonesia guarantees herewith
the transfers on the maturity dates of the amounts due in
acdordance with the agreement contained in the present ｾｲｯｴ｣ｬ＠
and in accordance with the Banking Arrangement to be made for
its implementation and also guarantees to grant necessary
licences .
5 .•••.••
.:.. 5 -
Article
8
The present Protocol comes into force after the
approval of the competent authorities of both Contracting Parties
and shall remain valid until the full settlement of the obligation
as stipulated above .
The parties will immediately notify each other about
the approval .
Done and signed at .Djakarta on the 23rd of December
1968, in two original copies in the English language, both texts
being equally authentic.
For the Government of
the Republic of Indonesia,
Signed
Ismael M. Thajeb
I
For the Government of
the Socialist Republic
of Romania,
Signed
Florian Stoica