Selanjutnya
A.I.D. Loan No. 497-H-023
LOAN
AGREEMENT
BETWEEN THE
REPUBLIC OF INDONESIA
AND THE
UNITED STATES OF AMERICA
DATED: July 6, 1970
TABLE OF CONTENTS
PAGE
SECTION NUMBER
ARTICLE I
SECTION 1.01
ARTICLE II
SECTION
SECTION
SECTION
SECTION
SECTION
2.01
2 . 02
2.03
2.04
2.05
ARTICLE III
SECTION 3.01
SECTION 3.02
ARTICLE IV
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
4.01
4.02
4.03
4 . 04
4 . 05
4.06
4 . 07
4.08
4.09
4.10
4.11
ARTICLE V
SECTION
SECTION
SECTION
SECTION
SECTION
5.01
5.02
5 . 03
5.04
5. 05
ARTICLE VI
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
6.01
6 . 02
6.03
6 . 04
6. 05
6. 06
6 . 07
The Loan
1
The Loan
1
Terms of Repayment and Interest
1
Payment Obligations
Currency of Repayment
Interest
Principal
Renegotiation of Terms
1
1
1
Conditions Precedent
2
Conditions Precedent to Financing
Terminal Date for Fulfillment of Conditions Precedent
2
Procurement, Utilization,and Eligibility of Commodities
3
A.I.D. Regulation 1
Source of Procurement
Date of Procurement
Eligible Items
Procurement for Public Sector
Procurement for Private Sector
Utilization of Commodities
Limitation to Private Sector Use
Minimum Size of Transactions
Procedures
Port Charges
3
3
3
3
3
4
Letters of Commitment and Disbursement
5
Request for Letters of Commitment
Other Forms of Disbursement
Terminal Date for Requests for Letters of Commitment
Terminal Date for Requests for Disbursement
Documentation Requirements
5
5
5
6
6
Additional Covenants and Warranties
6
Reports
Notice of Adverse Developments
Taxation on Loan Agreement and Payments Thereunder
Commission, Fees, and Other Payments
Financing Physical Facilities
IMF Standby Agreement
Local Currency Proceeds
6
6
6
2
2
3
4
4
4
4
5
6
6
7
7
ii
PAGE
SECTION NUMBER
ARTICLE VII
SECTION
SECTION
SECTION
SECTION
SECTION
7.0l
7.02
7,03
7.04
7.05
ARTICLE VIII
SECTION 8.01
SECTION 8.02
-
Remedies of A.I.D.
7
Events of Default; Acceleration
Termination of Disbursement, Transfer of Goods to A.I.D.
Refunds
Waivers
Expenses of Collection
7
7
8
8
8
Miscellaneous
8
Use of Representatives
Communications
8
9
LOAN AGREEMENT
AGREEMENT dated the Sixth day of July, 1970, between the Government of the
REPUBLIC OF INDONESIA ("Borrower") and the Government of UNITED STATES OF
AMERICA, acting through the AGENCY FOR INTERNATIONAL DEVELOPMENT ("A.I.D.").
ARTICLE I
The Loan
SECTION 1.01. The Loan. In accordance with the Economic Cooperation
Agreement between the Government of the Republic of Indonesia and the
Government of the United States of America signed at Djakarta October 16,
1950, as supplemented by the Exchange of Notes of Economic and Technical
Cooperation signed at Washington and Djakarta January 5 and 12, 1953, and
subject to the terms and conditions of this Agreement, A.I. D. hereby agrees
to lend Borrower pursuant to the Foreign Assistance Act of 1961, as a.mended,
an amount not to exceed Thirty Million Dollars ($30,000,000) for the foreign
exchange costs of commodities and commodity related services needed to
promote the stabilization, rehabilitation and development of t he Indonesian
economy, including essential raw materials, spare parts and machinery and
equipment. Commodities and services authorized to be financed hereunder
are hereinafter referred to as 11 Eligible Items " . The aggre gate a.mount ·
disbursed hereunder is hereinafter referred to as 11 Principa1' •
ARTICLE II
Terms of Repayment and Interest
SECTION
the Loan, and to
this Agreement.
accrued interest
2.01. Payment Obligations. The Borrower agrees to repay
pay interest on the Loan, in accordance with the terms of
All payments shall be applied first to the payment of the
and then to the repayment of the Principal due.
SECTION 2.02. Currency of Repayment. All obligations of the
Borrower t o make payments under this Agreement shall be discharged by the
ｰｾ･ｮｴ＠
of such coin or currency as at the time of payment is legal tender
in the United States of America for payment of public and private debts
(herein called "United States dollars .: ).
SECTION 2.03. Interest. Borrower shall pay to A.I.D. interest
which shall accrue at the rate of two percent (2%) per annum during ten
years immediately following the date of the first disbursement hereunder
and at the rate of three percent (3%) per annum thereafter on the outstanding balance of Principal and on any due and unpaid interest. Interest
on the outstanding balance shall accrue from the date of each respective
disbursement and shall be computed on the basis of a 365-day year.
Disbursement hereunder shall be deemed to occur on the date on which
ｰｾ･ｮｴ＠
by A.I.D. is made either directly to Borrower or its designee or
to a bank_ing ins ti tut ion pursuant to a letter of commitment. Interest
shall be payable semi-annually. The first payment of interest shall be
due and ＿ ｾ ｹ｡｢ｬ･＠
no later than six (6) months after the first disbursement
hereunder on a date to be specified by A.I.D.
- 2 -
SECTION 2.04. Principal. Borrower shall repay the Principal to
A.I.D. in United States dollars within forty (40) years from the date of
the first disbursement hereunder in sixty-one (61) approximately equal
semi-annual installments. The first installnent of Principal shall be due
nine and one-half ＨＹｾＩ＠
years af'ter the first interest payment is due in
accordance with Section 2.03. Upon completion of disbursement, A.I.D.
will :furnish an appropriate Amortization Schedule.
SECTION 2.05. Renegotiation of Terms. Borrower and A.I.D. agree
that, at the request of either party but not sooner than six ( 6) months
prior to the date when the first repayment of Principal is due, they will
negotiate concerning appropriate acceleration of the repayment of the
Principal. It is agreed that Borrower and A.I.D. will mutually determine
to what extent repayment should be accelerated on the basis of one or
more of the following criteria:
(a). Significant improvement in the internal economic and
financial situation of the Republic of Indonesia;
(b). Favorable trends in the balance of payments and foreign
exchange holdings of the Republic of Indonesia;
(c). Ability of the Republic of Indonesia to make fUture
repayments of A.I.D. loans without interfering with the service of debts
owing to any United States Government agency or any international
organization of which the United States is a member.
ARTICLE III
Conditions Precedent
SECTION 3.01. Conditions Precedent to Financing. Prior to and as
conditions precedent to the issuance of the first letter of commitment or
other authorization of disbursement, unless A.I.D. agrees otherwise, the
Borrower shall :furnish in form and substance satisfactory to A.I.D .:
(a). An op1n1on or opinions of the Minister of Justice of
Indonesia or of other counsel satisfactory to A.I.D. demonstrating that
the Agreement has been duly authorized or ratified by and executed and
delivered on behalf of the Borrower and constitutes a valid and binding
obligation of the Borrower in accordance with its terms;
(b). Evidence of the authority of the person or persons
who will act as the representatives of the Borrower in connection with
the operation of this Agreement, together with the authenticated specimen
of signature, in duplicate, of each such person.
(c). Evidence that Borrower is continuing its standby
arrangement with the International Monetary Fund (IMF) .
- 3 -
SECTION 3.02. Terminal Date for Fulfillment of Conditions Precedent.
If the conditions required by Section 3.01 have not been completed within
thirty days after the date of this Agreement or by such other date as shall
be agreed to in writing by A.I.D., A.I.D. may at any time ｴｨ･ｲ｡ｾ＠
at its
option terminate this Agreement by giving notice to the Sorrower. Upon the
giving of such notice all obligations of the parties hereunder shall forthwith be terminated.
ARTICLE IV
SECTION 4.01. ａＮｉｾｅｊ｡ｴｩｯｮ＠
1. Except as A.I.D. may otherwise
specify in writing, this Loan and the Procurement and Utilization of Eligible
Items financed under it is subject to the terms and conditions of A.I.D.
Regulation 1 as from time to time a.mended and in effect, which is
incorporated and made a part hereof. If any provision of A.I.D. Regulation
1 is inconsistent with a provision of the Agreement, the provision of this
Agreement shall govern.
SECTION 4.02. Source _!__Rrocurement. Except as A.I.D. may otherwise
agree in writing, all Eligible Items shall have their source and origin in
the United States.
SECTION 4.03. Date of Procurement. No commodities or commodity
related services may be financed under letters of credit opened prior to
the Eligibility Date, which shall be the date of this Agreement, nor, in
the case of payments not made through letters of credit, where the bill
of lading is dated prior to the Eligibility Date.
r
SECTION 4.04. Eligible Items . All commodities which may be
imported and paid for with Credit Foreign Exchange (Devisa Kredit) under
regulations of the Borrower in effect on the date of this Agreement shall
be eligible for financing under the Loan, subject to any exceptions or
conditions stated in this Agreement or in any Implementation Letter or
Commodity Procurement Instruction which may be j.ssued hereunder. Other
items shall become eligible for financing under this Agreement only with
the written agreement of A.I.D. A.I.D. may decline to finance any specific
commodity or service when in its judgement such financing would be
inconsistent with the purpose of the Loan or of the Foreign Assistance
Act of 1961, as amended.
SECTION 4.05. ｐｲｯ｣ｵ･ｾｮｴ＠
f_
LOAN
AGREEMENT
BETWEEN THE
REPUBLIC OF INDONESIA
AND THE
UNITED STATES OF AMERICA
DATED: July 6, 1970
TABLE OF CONTENTS
PAGE
SECTION NUMBER
ARTICLE I
SECTION 1.01
ARTICLE II
SECTION
SECTION
SECTION
SECTION
SECTION
2.01
2 . 02
2.03
2.04
2.05
ARTICLE III
SECTION 3.01
SECTION 3.02
ARTICLE IV
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
4.01
4.02
4.03
4 . 04
4 . 05
4.06
4 . 07
4.08
4.09
4.10
4.11
ARTICLE V
SECTION
SECTION
SECTION
SECTION
SECTION
5.01
5.02
5 . 03
5.04
5. 05
ARTICLE VI
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
6.01
6 . 02
6.03
6 . 04
6. 05
6. 06
6 . 07
The Loan
1
The Loan
1
Terms of Repayment and Interest
1
Payment Obligations
Currency of Repayment
Interest
Principal
Renegotiation of Terms
1
1
1
Conditions Precedent
2
Conditions Precedent to Financing
Terminal Date for Fulfillment of Conditions Precedent
2
Procurement, Utilization,and Eligibility of Commodities
3
A.I.D. Regulation 1
Source of Procurement
Date of Procurement
Eligible Items
Procurement for Public Sector
Procurement for Private Sector
Utilization of Commodities
Limitation to Private Sector Use
Minimum Size of Transactions
Procedures
Port Charges
3
3
3
3
3
4
Letters of Commitment and Disbursement
5
Request for Letters of Commitment
Other Forms of Disbursement
Terminal Date for Requests for Letters of Commitment
Terminal Date for Requests for Disbursement
Documentation Requirements
5
5
5
6
6
Additional Covenants and Warranties
6
Reports
Notice of Adverse Developments
Taxation on Loan Agreement and Payments Thereunder
Commission, Fees, and Other Payments
Financing Physical Facilities
IMF Standby Agreement
Local Currency Proceeds
6
6
6
2
2
3
4
4
4
4
5
6
6
7
7
ii
PAGE
SECTION NUMBER
ARTICLE VII
SECTION
SECTION
SECTION
SECTION
SECTION
7.0l
7.02
7,03
7.04
7.05
ARTICLE VIII
SECTION 8.01
SECTION 8.02
-
Remedies of A.I.D.
7
Events of Default; Acceleration
Termination of Disbursement, Transfer of Goods to A.I.D.
Refunds
Waivers
Expenses of Collection
7
7
8
8
8
Miscellaneous
8
Use of Representatives
Communications
8
9
LOAN AGREEMENT
AGREEMENT dated the Sixth day of July, 1970, between the Government of the
REPUBLIC OF INDONESIA ("Borrower") and the Government of UNITED STATES OF
AMERICA, acting through the AGENCY FOR INTERNATIONAL DEVELOPMENT ("A.I.D.").
ARTICLE I
The Loan
SECTION 1.01. The Loan. In accordance with the Economic Cooperation
Agreement between the Government of the Republic of Indonesia and the
Government of the United States of America signed at Djakarta October 16,
1950, as supplemented by the Exchange of Notes of Economic and Technical
Cooperation signed at Washington and Djakarta January 5 and 12, 1953, and
subject to the terms and conditions of this Agreement, A.I. D. hereby agrees
to lend Borrower pursuant to the Foreign Assistance Act of 1961, as a.mended,
an amount not to exceed Thirty Million Dollars ($30,000,000) for the foreign
exchange costs of commodities and commodity related services needed to
promote the stabilization, rehabilitation and development of t he Indonesian
economy, including essential raw materials, spare parts and machinery and
equipment. Commodities and services authorized to be financed hereunder
are hereinafter referred to as 11 Eligible Items " . The aggre gate a.mount ·
disbursed hereunder is hereinafter referred to as 11 Principa1' •
ARTICLE II
Terms of Repayment and Interest
SECTION
the Loan, and to
this Agreement.
accrued interest
2.01. Payment Obligations. The Borrower agrees to repay
pay interest on the Loan, in accordance with the terms of
All payments shall be applied first to the payment of the
and then to the repayment of the Principal due.
SECTION 2.02. Currency of Repayment. All obligations of the
Borrower t o make payments under this Agreement shall be discharged by the
ｰｾ･ｮｴ＠
of such coin or currency as at the time of payment is legal tender
in the United States of America for payment of public and private debts
(herein called "United States dollars .: ).
SECTION 2.03. Interest. Borrower shall pay to A.I.D. interest
which shall accrue at the rate of two percent (2%) per annum during ten
years immediately following the date of the first disbursement hereunder
and at the rate of three percent (3%) per annum thereafter on the outstanding balance of Principal and on any due and unpaid interest. Interest
on the outstanding balance shall accrue from the date of each respective
disbursement and shall be computed on the basis of a 365-day year.
Disbursement hereunder shall be deemed to occur on the date on which
ｰｾ･ｮｴ＠
by A.I.D. is made either directly to Borrower or its designee or
to a bank_ing ins ti tut ion pursuant to a letter of commitment. Interest
shall be payable semi-annually. The first payment of interest shall be
due and ＿ ｾ ｹ｡｢ｬ･＠
no later than six (6) months after the first disbursement
hereunder on a date to be specified by A.I.D.
- 2 -
SECTION 2.04. Principal. Borrower shall repay the Principal to
A.I.D. in United States dollars within forty (40) years from the date of
the first disbursement hereunder in sixty-one (61) approximately equal
semi-annual installments. The first installnent of Principal shall be due
nine and one-half ＨＹｾＩ＠
years af'ter the first interest payment is due in
accordance with Section 2.03. Upon completion of disbursement, A.I.D.
will :furnish an appropriate Amortization Schedule.
SECTION 2.05. Renegotiation of Terms. Borrower and A.I.D. agree
that, at the request of either party but not sooner than six ( 6) months
prior to the date when the first repayment of Principal is due, they will
negotiate concerning appropriate acceleration of the repayment of the
Principal. It is agreed that Borrower and A.I.D. will mutually determine
to what extent repayment should be accelerated on the basis of one or
more of the following criteria:
(a). Significant improvement in the internal economic and
financial situation of the Republic of Indonesia;
(b). Favorable trends in the balance of payments and foreign
exchange holdings of the Republic of Indonesia;
(c). Ability of the Republic of Indonesia to make fUture
repayments of A.I.D. loans without interfering with the service of debts
owing to any United States Government agency or any international
organization of which the United States is a member.
ARTICLE III
Conditions Precedent
SECTION 3.01. Conditions Precedent to Financing. Prior to and as
conditions precedent to the issuance of the first letter of commitment or
other authorization of disbursement, unless A.I.D. agrees otherwise, the
Borrower shall :furnish in form and substance satisfactory to A.I.D .:
(a). An op1n1on or opinions of the Minister of Justice of
Indonesia or of other counsel satisfactory to A.I.D. demonstrating that
the Agreement has been duly authorized or ratified by and executed and
delivered on behalf of the Borrower and constitutes a valid and binding
obligation of the Borrower in accordance with its terms;
(b). Evidence of the authority of the person or persons
who will act as the representatives of the Borrower in connection with
the operation of this Agreement, together with the authenticated specimen
of signature, in duplicate, of each such person.
(c). Evidence that Borrower is continuing its standby
arrangement with the International Monetary Fund (IMF) .
- 3 -
SECTION 3.02. Terminal Date for Fulfillment of Conditions Precedent.
If the conditions required by Section 3.01 have not been completed within
thirty days after the date of this Agreement or by such other date as shall
be agreed to in writing by A.I.D., A.I.D. may at any time ｴｨ･ｲ｡ｾ＠
at its
option terminate this Agreement by giving notice to the Sorrower. Upon the
giving of such notice all obligations of the parties hereunder shall forthwith be terminated.
ARTICLE IV
SECTION 4.01. ａＮｉｾｅｊ｡ｴｩｯｮ＠
1. Except as A.I.D. may otherwise
specify in writing, this Loan and the Procurement and Utilization of Eligible
Items financed under it is subject to the terms and conditions of A.I.D.
Regulation 1 as from time to time a.mended and in effect, which is
incorporated and made a part hereof. If any provision of A.I.D. Regulation
1 is inconsistent with a provision of the Agreement, the provision of this
Agreement shall govern.
SECTION 4.02. Source _!__Rrocurement. Except as A.I.D. may otherwise
agree in writing, all Eligible Items shall have their source and origin in
the United States.
SECTION 4.03. Date of Procurement. No commodities or commodity
related services may be financed under letters of credit opened prior to
the Eligibility Date, which shall be the date of this Agreement, nor, in
the case of payments not made through letters of credit, where the bill
of lading is dated prior to the Eligibility Date.
r
SECTION 4.04. Eligible Items . All commodities which may be
imported and paid for with Credit Foreign Exchange (Devisa Kredit) under
regulations of the Borrower in effect on the date of this Agreement shall
be eligible for financing under the Loan, subject to any exceptions or
conditions stated in this Agreement or in any Implementation Letter or
Commodity Procurement Instruction which may be j.ssued hereunder. Other
items shall become eligible for financing under this Agreement only with
the written agreement of A.I.D. A.I.D. may decline to finance any specific
commodity or service when in its judgement such financing would be
inconsistent with the purpose of the Loan or of the Foreign Assistance
Act of 1961, as amended.
SECTION 4.05. ｐｲｯ｣ｵ･ｾｮｴ＠
f_