Selanjutnya

dated April 17, 1967,

between
KREDITANSTALT FUR WIEDERAUFBATJ

. ..
0.
'

..,,.

-·

'

nnd the
REPUBLIC OF INDONESIA

to the J;oan Agreement dated April 1 7, 1967 7
between Kreditanstalt fi.ir Vliederaufbau and
Bank Negara Indonesia? Djakarta ,.

(Commodities III)

between
KREDITANSTALT FDR WIEDERAUFBAU 9 ｆｲ｡ｮｫｦｵｴＯｍｾ､＠

i

(hereinafter re.fei-Ted to as "Kredi tanstal t")
and the
REPUBLIC OF INDONESIA
(hereinafter referred to as "Guarantor")

PREA!·JBLE
April 1 7, 1967,
(hereine.f ｾ･ｲ＠
rGferred to as "Loan Agreement') Kredi tanstal t has under-

By Agreement of

taken to extend to the Bank Negara Indonesia, Djakarta,
(hereinafter referred to as "Borrm-18r 11 ) a loa,n not exceeding
r
\

I

(J?ifty millj_on Deutsche Ma_rk)
on condition that the Gu8.rantor will give a guarantee in
respect of the Borrower s obligations under the Loan
Agreement as follows .

- 2 -

-

- 2 -

Artic l e I
-------;',.ssent

Tho Guaran·tor hereby approves all provisions of the Loan
.Agreement and agrees to grant any permissions vvhich may be
necessary fo r the implementation of the Loan Agreement

Pavment Guarant e e

Ｍｾ Ｍ

·-

Ｍｾ

Ｍ

Ｍ

(1) Waiving all ob j ec t ion s a n d defences arising from the
Loan Agreement? the Guarantor hereby extends to Krcdi·tanstalt the independent and irrevocable guarantee for
the due ful fi lment of all obligations of payment under
the Loan Agreement

( 2 ) Accordingly the Guarantor undertakes to make any payment

due from the ｂｯｲｾ･＠
under the Loan Agreement up on fi r s ·t
demand by Kreditanstalt if and as far as such payment due
from the Borrower is not effected as and when due The
Guaran t or's obligo.tions shall not depend on Kr e ditanstalt1 s first giving notice to or demand i ng pnymcnt
.from the Borrorrer or on Kredi tanstal t bringj_ng a ction
or taking any ether step against the Borrower or on
Kred i tanstalt proving that the Borrower is in defaul ·t.
( 3) All payments shall be effected in no other currency than

Deutsche Mark and shall be ｲ･ｭｩｾＱ＠
to Kreditans·talt 1 s
account Na o 1o/1555 r1ith Deutsche Bundesbank ? Frankfurt/
i\Tain? no se t-,off against such payments being permitted

- 3 -

- 3 -

____
_______
--Transfer
GuRrantee

Ｍ

Artj_cle III
ﾷ ＭｾＧ

,

In addition to the payment guaran·tee given under Article II
of this Agreement, the Guarantor hereby agrees to permit
the Borroner to purchase and to tTans:f er such amounts in
Deutsche Mark, or, as the case may be, to make available
such amounts of Deutsche Dark against payment in local
｣ｵｲｔ･ｮｹｾ＠
as shall be required for the proper fulfilment of

all claims of Kreditnnstalt under the Loan Agreemen·t.

Article

IV

The Guaran·tor undertakes to endorse all promissory notes
issued by the ｂｯｲｾ･＠
pursuant to Article VI of the Loan
Ae;reemento
.Article

V

Non-Dj_scrim:i.nn.tj_on
Clause
--· __ _____________ -----_...._

,

(1) The Guarantor declares not to have furnished any mortgage
or pledge of any kind covering other long-term exLernal
debtso Therefore? no mortgage OJ: p1:;;ige !3ha1L b3 ｦｩＮＺｶ Ｚ ｮｾＧﾰＮＱｳＭ､＠
for this Guaranteeo In the event that the Guarantor
should provide any mortgage or pledge for any other longterm external deb ·ts in the future he shall furnish Kreditanstalt a mortgage or pledge of equal value.
( 2) i1he term "mortgage or pledge 11 as used in
shall mean any right enabling a creditor
to obtain preferential satisfaction from
or revenue of the Gua,.rantor 7 the Central
his agencies or en·terprises
1

paragraph ( 1 )? above1
of the Guarantor
specific assets
Dank; or any of

- 4 -

- 4 ( 3) 'i.1he term " l ong- term external debt 11 as used in paro.graph ( 1),

above, shall ｾ･｡ｮ＠
any debt which shnll be payable in a
cu1-rcmcy other than that of the Guarnn-Lor and shall fall
due not earl i er th:m one year after the date on which it
\'tO.S incurred.

Article VI
-- --

(1) Ifo delay or emission in exercising any of Kreditanstolt's

rights under this Agreement shall be construed as a waiver
thereof or as acquiescence in a default. Any exercise
of only part of the rights or any ex er c ise in part of any
of the rights shall not preclude subsequent enforcement
of a:'ly such rights \/hich have not or not fully been exercised. The invalidity of one or more ｯｾ＠
the provisj.ons
of this Guarantee Agreement or of the Loan Agreement shall
no·t affect the validity of this Guarantee Agreement or of

the other provisions of this Guarantee Agreement ,
(2) Amendments or additions to the Loan Agreement shall only
be subject to the Guarantor's approval in so far as they
affect the payment obligations guaranteed in Article II,
ｾ｢ｯｶ･｣＠

(3) ｾｮｹ＠

statement or n o·tice made or given in c onnection with
ｾｄｬｓ＠
Agreemen·t between the contracting par·ties shall be made
01· given in nri t ing
Any such statement or notice shall be
deemed to have been duly received as soon as it has been

- 5 -

- 5 -

delivered at the following addresses of the respective conｴｲｾＮ｣ｩｮｧ＠

party:
For Kreditanstalt:
postal address:

cable address:
Hor the Guarantor:
postal Hddress:

cable address:

Kreditanstalt ftir Wiederaufbau
Lindenstrasse 27?
6 Frankfurt/Main ?
(Federal Republic of Germany)
Kreditanstalt Frankfurtmnin

Ministry of Finance
Lapangan B2nteng 2;
Djakarta"
(Republic of Indonesia)

Hinistry of ｆｩｮ｡｣･ｾ＠
J)j:1.kartc..

Any change of the above addresses shall only be effective
1·hen it has been received by the other contracting pnrty.

(1) The Minister of Finance and any persons empowered by him .
ln 11ri ting to represent him vis--a-vis Kredi ｴ ＼ｾｮｳｴ｣ＺＮｬ＠
shc:i.11
be authorized to deliver rmd to accept all statements and
to undertake all activities for and on behalf of the
Guarantor in connection with the implementation of this
Guarantee Agieement . The power of attorney of such persons
shall also extend to additions to and amendments of this
Agreement unless the Guarantor shall make statements to the
contrary ｶｩｳＭｾ＠
Kreditanstalt. The power of attorney
shall only expire when its express revocation has been
received by Kreditnnstalt. The Guarantor shall furnish duly
in advance of the first disbursement legalized specimen
signatures of authorized persons.
(S)

This Agreement with the exception of the trunsfer ｧｵｲｾｮ
ｴ･
given under ,\rticle III shall be governed by German lc-lv1.
The pl ace of performunce shall be Frankfurt am M[•in .
In case of doubt as to the proper interpretation of
this Agreement? the Gernwn text shall prevail.

- 6 -

･＠

- 6

ｾ ﾷ＠

(6) All disputes arising from this Agreement including
disputes on the validity of this Agreement and of the
Arbitration Agreement which cannot be settled amicably
between the contracting parties shall be submitted to
arbitration in accordance Hi th the Arbitration Agreement
forming an integral part of this Agreement

DONE at Frankfurt am Main
this 17th of April, 1967,
in quadruplicate, tHo texts each in the German and the
English languages .

KREDITANSTALT FUR \·fIEIIBRAUFBAU

Signed

Signed

REPUBLIC OF INDOI\f.D;S I.A

Signed

With reference to the provision of Article X:Paragraph (6)
of the Loan Agreement between
KREDITANSTALT FUR \ /IEDERAUFBAU, Frankfurt/Hain
(hereinafter refer1'ed to as "Kredi tanstal t")
1

and the
BANK NEGARA INDONESIA
(hereinafter referred to as "Borrower")
dated
on

DM

April 17, 1967,
50 . 000 000,--

and with reference to the provision of Article VI Paragraph (6) of the Guarantee Agreement between
Kreditanstalt
and the
REPUBLIC OF INDONESIA
(hereinafter referred to as "Gue.ranter")
dated

April 17, 1967,
(Commodities III)

the Kreditanstalt, the Borrower? and the Guarantor: hereby
agree on the ｦｯｬｷｩｮｧ
ｾ＠

- 2 •

- 2 -

Al • disputes arising from the Loan Agreement and/or the
(-,rc.::nmtee Agreement including disputes on the validity of the
Lo::'..n AgYeement , the Guarantee .Agreement or this Arbi trc:ttion
J.groe.i:;ent \·rhich cannot be settled amicably by the parties sh8,ll
finally and exclusively be decided by an Arbitration Tribunal
Article 2
The parties to such arbitration shall be the Guarantor andlor
the Borrouer on the one part, and Kreditanstalt on the
other part Kreditanstalt shall have the right to initiate
arbitration proceedings against the Guarantor and the Develop =
ment Rml-c separately or jointly " Similarly the Guarantor and
the Borrouer shall be entitled separately or jointly to initia te
arbitration proceedings against Kreditans·talt.

ｾ ｬＩ＠

If the parties do not agree on a single arbitrat or, the
Arbitration Tribunal shall consist of three arbitrntors
appointed as follows: one arbitrator shall be appointed
by the Guarantor alone or, if the latter does not, or not
yet, participate in the proceedings, by the Borrower, a second
arbitrator by Krcditanstalt, and a third arbitrator (hereinafter called "Chairrran") shall be appointed by agreement
of both parties or, if they shall not agree within 60 days
after receipt of the request for arbitration by the defendant ,
on application of either party by the President of the Inter national Chamber of ｃｯｾｭ･ｲ｣＠
or, failing appointment by him 7
by the Chairman of the Suiss lfational Committee of the
Internntional ChRmber of CommGrce If either side shall
fnil to appoint an arbitrator, such arbitrator shall be
appo inted by the Chairman ,

- 3 -

(2) In case any arbitrator appointed pursuant to the
foregoing provisions shall resign or become unable to
act as arbitrator, his successor shall be appointed in
the same :r.:anner as the original arbitrator The successor
shall have all the powers and duties of such original
arbitrator o
ｾＺｦＱＲﾣＡ｟［＠

(1) An arbitration proceeding may be instituted by the
service of a written request for arbitration by one
party to the other Such request shall state the natu:r·e
of the claim, the remedy or compensation requested and
the name of the arbitrator to be appointed by the claimci.nt
if he is entitled to appoint an arbitrator in accordance
with Article 3, ｐｾｲ｡ｧｰｨ＠
(1), supra ,
(2) Within 3o days after receipt of such request the
defendant shall notify the clainant of the name of
the arbitrator appointed by him if he is entitled to
appoint an arbitrator in accordance with Article Ｓｾ＠
Paragraph (1), supra .
ｾｅＱｩﾣｬＺ｟Ｒ＠

The Arbitration Tribunal shall convene at such time as shall
be i'ixed by the Chairman , The Chairman shall 8lso determine
the place of the arbitration proceedings if the parties have
failed to do so by agreement ,
Artj_cle 6
The Arbitration Tribunal shall be the judge of its own
competenceo It shall determine its procedure according to
g8nerally recognized rules of procedure In any case, both
parties shall be afforded an oral hearing in a reguJar
sitting . The Arbitration Tribunul may reach a decision notwithstanding any failure to appear on the part of either
party All decisions of the Arbitration Tribunal shall require
the approval of at least two arbitrators .

- 4 -

ｾｅＱｩﾣ｟＠

The Arbitration ｾｲｩ｢ｵｮ｡ｬ＠
shall deliver its a\·rard. together
\'Ti th its reasons in 1·1ri ting , An m·mrd signed by at lea st
tuo arbitrators shall constitute the aHard of the Tribunal o
A signed counterpart of the award shall be transmitte d
t o each party , 1.Che mmrd shall be binding and final By
signing this Agreement the :parties already assume the
obligation to comply \·ti th such award Article 8
(1) The parties shall fix the remuneration of the arbi ti·c-1.tors
and such other persons as shall be required for the
conduct of the arbitration proceedings
(2) If the parties shall not agree before the Arbitration
Tribunal shall convene, the Arbitration Tribunal shall
fix an adequate remuneration Each party she.11 bear
its O\·m expenses arising from the arbi tra ti on proceediJigs
The costs of the Arbitration Tribunal shall be borne
by the party against whom the award is rendered - If
neither party obtains a full avrard, the costs shall be
borne proportionately by both parties "

-

(3) The Arbitration Tribunal shall finally decide all

questions concerning costs

(4) The parties shall be jointl y and severally liable
for the payment of the remuneration to the persons
mentioned in Paragraph (l)? supra

Any notice or statement by the parties and the Arbitration
Tribunal in connection i.·ri th the arbitration proceedings
shall be made or given in writing Any such notice or

-

- 5 -

request shall be deemed to have been duly made or given
as soon as it has been delivered at the following addresses
of the respective party;
I•1 or Kredi tanstalt ｾ＠

postal

Kreditanstalt ftir Wiederaufbau
Lindenstrasse 27
6 J.t'rankfurt/Mci.in
Federal Republic of Germany
Kreditanstalt Frankfurtmain

｡､ｲ･ｳｾ＠

cable address
For the Borrower :
postal address:

Bank Negara Indonesia
Kantor Pusat
Djakarta
(Republic of Indonesia)

cable address :

Delegasi Djakarta

For the Guarantor:
postal address :

cable
｡､ｲ･ｳｾ＠

Ministry of Finance,
Lapangan Banteng 2,
Djakarta
(Republic of Indonesia)
Ministry of Finance, Djakarta

Any change of the above addresses shall only be effective
ｾｨ･ｮ＠
it has been received by the other contracting party
In six originals, three texts each in the German and the
English languages o
DONE at Frankfurt am rJiain
this 1 7th of ＱﾷｾｰｲｩｬＬ＠
1967,
Ktl.EDITANSTALT FUR i'/IJmERAUFBAU
Signed

REPUBLIC OF INDONESIA
Signed

Signed

BANK

ﾵＺｅｴｾ＠

INDONESIA
Signed

vom

.,ｾ＠ '7 • Jipri_
· "j

l- J
Q 6r/
1

Z\"lischen der
KREIHTANSTALT FUR \'IIEDERAUFBAU

--

und der
REPUBLIK INDONESIEN
zum Darlehensvertrag vom 17. April 1967

zwischen der Kreditanstalt flir Wiederaufbau und
der Bank Negara Indonesia.

(Commodities III)

ｇａｒｎｔｉ＼ｾｖｅ＠

Z\'rischen der
KREDITANSTALT FDR WIEDERAUFBAU, Frankfurt/Main ?
(im nachfolgenden 11 Kreditanstalt 11 genannt)
und der
REPUBLIK INDONESIEN
( im nachfolgenden

11

GararJ.t 11 genannt) "

PRA.AMBEL
Die Kreditanstalt hat sich durch Vertrag vom 17 . April 1967
( im nachfolgenden "Darlehensvertrag 11 genannt) verpi'lichtet ?
der Bank Negara Indonesia? Djakarta, (im nachfolgenden
Ｑ ｄ｡ｾ
｣ Ｑ･ｨｮｳｭｲＢ＠
genannt) ein D8rlehen bis zur Rohe
vcn
DM 5o

000 . 000 - -------------J...--

(in \'Torten c Filnfzig Million.en Deutsche Mark)
unter der Bedingung zu ｧ･ｷｾｨｲｮＬ＠
dass der Garant die
Verpflichtungen des rarlehensne11mers aus dem Darlehens
vertrag wie folgt garantiert .

- 2 ..

- 2 -

Artikel

1

tcr Garc.nt st i.rnmt 2llGr1 J:3estiJnn1ungcm dGs Darleltern:ive1·cn.:i.ges
zu und vcl'pfl i cht0t :::;ich, alle etuu zur ])u1·chfiLhl'u:r1g des

L=trlehcn svcrt rog es e1·fo1'u erl ic:hen Gen ･

.Arti.kel

-

ｾ ｮＮＱｩｧｭ･＠

z:u

Gi.'

Ge::ilen o

TI

: , :iJcr Go.runt Ube:L'n i mmt h ie:i:rni t g egenUber der Kredite.nste::i.Jt
unt er V0rzicht aui' alle Ein :t.' ed en und :Ei1MGndungen aus
d c::i :Darlehem:;ve1'"trag die selbstand ige und umri d e:i.·1·uf-

li c h e Go.r o.n t ie fUr die orc.1 11ungsge111b:i,ss e Erfl.U.; ung d er
i.i;1 Da1·lehGnsvertrag ve:i.·ci1ibarten Zahlu1igsverpfl ｩ｣Ｎｬｲｴ［ｵｊＯｾＨＺＩＱ＠

2

o

Dcmzufolge verpflichtet sich der Garant, alle vom Darle.i1e11s11ehn10r aufgruna des

Ｚｕ｡Ｑﾷｬ･ｨｮｳｶｾＢ［ｲｧ＠

zu er-

bri11gcnd en Zul1lu11gen u nve1·zUgl ich auf er:::t es J,rif'orcJ e1·n
der Kredit211stalt zu leisten. wenn und soweit die vom

:CarlGhensnebr.ier zu leis"G end en l'.jahlm1gen nicht be.i :B'iilligkci t entr.icht et \·;erd en o Die Zo.11lur1gr.:>v er1Jfl ic:i1tur1gei1
d e0 Garc.nten sind nicht abhh.::-igig von ei.ner vo:clle:i:i.gen
1\.11zcige oder :6o:nlungsauf'i'ordeJ..'U1ig der Kreditunstal·c

an den :DarlehGn sn ehnwr, von eiri er Kl age od e1· son 8t j_gen
r.laJ3nahme aer ｋｲ･｡ｩｴＮｮｾｬ＠

gegen den :Ual'l2.he1rnlle.h111e:r·

oJer van einem Hc,chu eis des Zu.hhrngsverzugeG des Dc::i.·l0he11sneh11wrs uurcll die Kredita!istalto

3" Si.i.mtliche Zuhlungen Gind unter Ausschluf3 d er Aufrec.lmu.n6
unssc.hlief3lich in :Deutscher Eark auf uas Gi:cokoirLo der
K1·2ciitmwtalt bei der Deutschen l:lundesrJo.nk, ＱＧｲ｡ｮｫｦｵＳＺﾷ｣ＯｈｾＮｩ
h.onto-Nr . ·10/ : 555. zu ii.ber\10isen,

Ｑ＠

- 3 -

- 3 Artikel III
Transfcraarantie
Zuslitzlich zu der in Artikel II dieses Vertrages tibernommenen
Zahlungsgarantic vcrpflichtct sich der Garant, dem Darlehensnehrner den ErDerb und Transfer derjenigen ｂ･ｴｲｾｧ＠
in Deutscher
Mark zu gestatten oder gegebenenfalls diejenigen ｂ･ｴｲｾｧ＠
in
Deutscher Mark gegen Zahlung in seiner ｌ｡ｮ､･ｳｔｉｾｨＱｶｧ＠
zur Verfligung zu stellen, die zur Bedienung samtlicher Ansprliche der
Kreditanstnlt aus dem Darlehensvertrag erforderlich sind.
Artikel

IV

Der Garant verpflichtet sich, ｳｾｭｴｬｩ｣ｨ･＠
vom Darlehensnehmer
gemtiG Artikel VI des Darlehensvertrages ausgestellten SolaTiechsel zu indossieren.
Artikel

V

1 . Der Garant erkltirt, da8 er ftir andere langfristige

Auslandsverbindlichkeiten keine dinglichen Si ch erheiten
ge\"/ahrt hat . Demzufolge uerden auch fur diese Garantie
keine dinglichen Sicherheiten bestellt . Sofern der Garant
ktinf tig ftir andere langfristige ａｵｳｬ｡ｮ､ｶ･ｲ｢ｩ｣ｾｴ＠
dingl iche Sicherheiten ｧ･ｈｾｨｲｴＬ＠
ｾｩｲ､＠
er der Kreditanstal t
ｧ ｬ･ｩ｣ｾｲｴｧ＠
dingliche Sicherheiten ･ｩｮｲｾｵｭ
Ｎ＠

-

ｌｾ＠

-

- 4 -

2. JJinglichc Sichcrhuiten irn Sinne des Absatzes 1 sind alle Hechte, die cincn Gli.iuuiger des Garunten eine bevoi.'zugte Bef'riedigtmG r;cincr AnsprUche aus bestirnmten Ven1JogensY1e1:ten oder
Einkunftcn dcG Gnranten? seiner Zcntralba11k? seiner Sonderbehord.en oder seiner Unternehrnungen ermoglichen,

3 . Langfristige Auslandsverbindlichkei·Len im Sinne des Absatzes
sind alle Zahlungsverpflichtungen, die nicht in der ｗｾｨｲｵｮｧ＠
des Garantcn zu erfUllen sind und die nicht innerhalb e1nes
Jahres nach ihrer Entstehung zur Hlickzahlung ftillig Y1erden .

-

Artikel

VI

Verschiedenes
----------1 . Die

oder unterlassene Austibung von Hechten ?
die der· Kreditans·talt aufgrund dieses Vertrages zustehen ,
kann nicht als Verzicht auf diese Hechte oder als eine
stillsch\"leigende Billigung eines ver·tragsuidrigen Verhaltens
ange:::;chen nerden . Die Austibung nur einzelner Rechte oder die
nur teilHeise Austibung von Hechten schlieGt die kUnftigc
Geltendmachung der nicht oder nur zurn r.reil ausgetibten heeJ1·i;e
nicht aus . Sollten eine oder mehrere Bestimmungen die s es Garanti8vertrages oder des Darlehen:.wertrages unrrirJrnc.:.r.l sein?
s o Yrird die G-Ultigkei t dies es ｇ｡ｲｮｴｩ･ｶＭｃｧｾＳ＠
od e1· Cl. er li.b