Selanjutnya
GUJ\R.ANTEE AGREEHENT
ＭＭ
Ｍｾ
dated
ｾ＠
ｾ｣Ｚｩ［Ｌｴｲ＠
ｾｴｨＬ＠
19G7 ,
bet\';een
ｉｃｈｅｊｾａｎｓｔ
ｌ ｔ＠
FtiR UIEDERAUPBATJ
and. the
HEJ?UBLIC OJ!' INTIONESI.A.
to the Loan Agreement dated ｾ｣ｰｴｲＺ
Ｎ ｢｣ｲ＠
5i.11 , 1S67,
bet\"!ecn Kr editans-talt fur Wi edor aufbau and
Bank Nogara IndoneE;Jia, Djakarta,
for DM 35 . 000 . 0009 - - ,
·1_
c
(Commodities V)
between
ICREDITANSTALT FUR WIEDEHAUFBAU, Pranl€furt/Mai:n?
(h2reir1B.fter referred to as "Kredi trmstal t ")
and the
REPUBLIC OP Hf.DONESlA
(hereinaf'ter referred ta as "Guarantor") .
1?REAIIBLE
--------(-
c
By Agreement of tcptcrrtcr 5th, Ｑ ＹＶＷＬＨｨ｣ｲｩｾ｡ｦｴ＠
ｲ｣ｦｾ｡＠
to as "Loan Agreement 11 ) Kredi to.ns·f;alt has undertaJcGn
to extend to thG J3a:nk Negara Indonesi8., Djalw.rta,
(hereinafter referred to as HJ3orrower 11 ) a l oan not
･ ｾ ｸ｣･､ｩｮｧ＠
(Thirty-f-i ve million Deu.tsche Mark)
on condition that the Guarantor will ,g ive a guarantee in
respect of the Borrower ss obligations under the Loan
Agreement a:s follows :
- 2 -
- 2 -
Assent
Ｇ ＢｾＧﾷ＠
,.
The Guarantor hereby approves all provisions of the Loan
Agreement and agrees to grant any permissions which may be
necessary for the implementation of the Loan Agreement o
(1) Waiving all objections and defences arising from the
Loan .AgTeement 9 the.Guarantor hereby extends to KTeditanstal t the independent and irrevocable guarc;.i.ntee for
the due fulfilment of all obligations of payment under
thG Loan Agreement,
(2) Accordingly the Guarantor undertakes to make any payment
due from thG Borrower under the Loan Agreement upon firs ·f
demand by Kredi tanstal t if and as far as such payment du.e
.
from the Borrorrer is not effected as and when due " The
Guarantor'& obligations shall not depend on kreditanstal t ' s first giving notice to or demanding p8.yment
from the Borrovrcr or on Kredi tanstal t bringing action
.C
or taking any other step against the Borrowe:r, o_r on
Kredi tanstal t provj_ng -that the Borrower is in defaul
ﾷｾＮ＠
( 3) All payments . shall be effected in no oth0r currency i;ha:o.
ｾ＠
Deutsche 1.iark and shall be :J:'. ' emi•(i·i;ed to Kredi tans ta.lt 1 s
account No . 1o/1555 with Deutsche Bundes bank ? Frankfu1··G/
l\lain, no set-of:f against such payments b e ing permttted o
'
Ｚ ｾ＠ Ｇ Ｍ ｾﾷ＠
- 3 -
. "
Ｌ ｾ＠
- 3 -
ｾ
Ｍ
T1·ansfc-;r Gum:-antee
ｾＭ
Ｎ
ｾＭ
In addition to the payment guarantee given under Afticle II
of this Agreement, the Guarantor hereby agrees to permit
the B01'!'0\·1er tQ purchase and to ｴｩｾ｡Ｚｮｳｦ･ｲ＠
such amounts i:h.
Deutsche Mark, o.r? as the case riiay be, to ma.ke. available
Duch BJ11ounts of Deutsche Mark against payment in local
currency? as shall be required :for the pi'Oper fulfilment of
all claims o:f Kredi tans tal t under the Los.n Agreetimht ｾ＠
ﾷ ｾ＠
,1,,,.
IV
Article
·,
ｾ Ｚ＠
ｾ＠ ＭＭ
The Guarantor undertakes to endorse all :promissory ｮｯｴｾｳ＠
issued by the Borrm·1er pursuant to A:t'ticle ifI o:f the Loa:n
A.greement ,
Article
Ｍｊ
Ｍ ｾ＠
·' ::·
V
:•:-: - ··;::
.
ﾷ ｾＺ
ﾷ＠
-;
ｾＭＮ｟
ｾｲｯ
ｮＭｄＺｩＮｳ｣ｲ｡ｴｯ＠
( 1)
ﾷＭ
ＭＢＺｾＮＬ
Clause
Guarantor declares not to have furnished any mortgage.
. .
.or plGdgG of any kind covering ｯｴｨｾｲ＠
1ong..;..t'er:m extGrn.al
debts. Therefore 9 no mor·cgage o:r. pledge ｾｩ｢Ｎ｡
Ｑ Ｎ＠ be Ｎ ｦ Ｑ Ｑ ＱＺ Ｐ ｊＮＬＺｽｨ･､
for this Guarantee . In the ･ｶｾｮＭ＠
tha.t the GJ.Jart:lnt.or
ｾｬＱｨ･＠
. ｾ＠
; ﾷ ｾ Ｚ＠Ｎ
should :grovide any mortgage or pledge for any other longterm ex-liernal debts in the future he shall f'urnish Kred i tartstal t a mortgage or pledge of ,equa,l value o'
ｾ Ｎ＠
ｾﾷ＠
..
Ｌｾ ＮＬ Ｎ Ｂ＠
ｾ Ｚ＠ ＭＧ ｾＺ［Ｎ＠
Ｇ ＧＺ ｾ＠
ｾＬ＠
ｾ＠
. ｾ＼＠
:'•)
(2) ?he term "mortgage or pledg.e " as used in paragraph ( 1 )9 ab0;/"6?
shall mean any right enabling a credi·tor of the .G uarantor
to obtain preferential satisfaction from specific ｡ｳ･
ﾷ ｾｳ＠
or revenue of the Guarantor, the Central Bank, or any of
his agencies or en·berprises .
ｾＺ＠
- 4 -
+
?.,
ｾ＠
ｾﾷ＠
4
(3) The term
11
long-tcrm Gxtornal debt ll as used in paragraph ｴＭＱＩｾ＠
abovc,shnll mean any debt nhich sho.11 be payable in a
｣ｵｲＺｾｯｮｹ＠
othGr than tha i of the Guarantor and shall fall
due not earlier than onG year afteT the date on vrhich it
was incurredo
AJ,·ticle_y}
( ·1) lfo delay or 0mj_ssion in exercising any of Kredi tanstal ti s
rights under this Ag:reemen-!; shall be construed: as a waiy0:c
thereof or as acq_uiel':>oence in 8. ､･ｦｾＮｵｬｴ＠
e
'AYiJ ·e:x:el.'Cise
of .o :'lly part of the rights or any exercipe in part Df 8.n'.)r
of the ri.ghts sha.11 not preclude subsequent enforcement
of any $UCh rights nhich have not or not full,y been exercised o The invalidity of one or more of the provisions
of this Guarantee Agreement or of the Loan Agreement shall
not affe·ct the validity of this Guarantee Agreement or of
the other provisions of this Gu$,rantee Agre ement c
c
(2) Amendments or additions to the Loan Agreement shall only
be subjec·b to the Guarantor's e.pproval in so far as they
affect the paym0nt obligations guaranteed in Article II,
abo\re ..
Ｈ ｾＩ＠ ...
Any .stateme·n t or notice made or givcm in connec t ion with
this Agreement between the contracting parties shall be made
or gj_ven in nriting . Any such statement or notice shall be
deemed to ha.v,e been duly received as soon as it has been
- 5 -
- 5
ｾ ﾷ＠
delivered at the follo,·1ing 8,ddresses of t:ne respective con-tracting party:
. ,,.
For Kreditanstalt:
posta l address:
cable address:
Y..redi tanstal t fi.iI: Wiederaufbau
Lindenstrasse 27,
6 l!'r a nkfurt/Main .)
(Federal Republic of GermBny)
Kreditanstalt Frsnkfurtmain
liar the Guarantor :
postal address:
cable tt.ddress:
Ministry of Finance
Lapangan BRnteng 2,
Djakarta,
(Republ ic of Indonesia)
Ministry of ｆｩｮｾ｣･
Ｑ＠ Djakarta
Any change of the above addresses shall only be effective
\-:hen it has been received by the other contrRcting pa rty.
(4) The Mini ster of Finance and any p ersons empowered by him .
c
in v1ri ting to represent him vis--a-vis Kredi t B.nstal t sbHll
be authori zed to deliver and to ac cept a ll statements Rnd
to undertake all activities for Bnd on behalf of the
Guarantor in connection \'Ji th the implementation of tb.is
Guarantee ａｧｾ･ｭｮｴＮ＠
The power of attorney of such persons
shall also extend to additions to and amendments of ｴｨｩｾ＠
Agreement m1less the GuarHntor shall mfl.ke statements to the
contrary vis-a -vis Kreditrin s t a lt . The power
ｊｾ＠
Tribunal shall convene, the Arbitration Tribunal shall
fix an adequate remuneration o Each party shall bear
its oun expenses arising from the arbitration proceed.5.:ngs o
. .
The costs of the Arbitration Tribunal shall be borne
,]Jy the party agains t whom the award ,is rendered " ·rf n •
neither p2,rty obtains a full award? the _costs shall
borne proport ionately by both parties o
..ｾ＠
c
(3) The Arbitration Tribunal shall finally dec.i,de , alL
Ｍｾ＠
w
questions concerning costs o
(4) The parties shall be jointly and several ly liable
f or the payment of the remuneration to the persons
mentioned in Paragraph (1), supra .
ｾ＠
ﾷｾ＠
ＭＭ
Ｍｾ
dated
ｾ＠
ｾ｣Ｚｩ［Ｌｴｲ＠
ｾｴｨＬ＠
19G7 ,
bet\';een
ｉｃｈｅｊｾａｎｓｔ
ｌ ｔ＠
FtiR UIEDERAUPBATJ
and. the
HEJ?UBLIC OJ!' INTIONESI.A.
to the Loan Agreement dated ｾ｣ｰｴｲＺ
Ｎ ｢｣ｲ＠
5i.11 , 1S67,
bet\"!ecn Kr editans-talt fur Wi edor aufbau and
Bank Nogara IndoneE;Jia, Djakarta,
for DM 35 . 000 . 0009 - - ,
·1_
c
(Commodities V)
between
ICREDITANSTALT FUR WIEDEHAUFBAU, Pranl€furt/Mai:n?
(h2reir1B.fter referred to as "Kredi trmstal t ")
and the
REPUBLIC OP Hf.DONESlA
(hereinaf'ter referred ta as "Guarantor") .
1?REAIIBLE
--------(-
c
By Agreement of tcptcrrtcr 5th, Ｑ ＹＶＷＬＨｨ｣ｲｩｾ｡ｦｴ＠
ｲ｣ｦｾ｡＠
to as "Loan Agreement 11 ) Kredi to.ns·f;alt has undertaJcGn
to extend to thG J3a:nk Negara Indonesi8., Djalw.rta,
(hereinafter referred to as HJ3orrower 11 ) a l oan not
･ ｾ ｸ｣･､ｩｮｧ＠
(Thirty-f-i ve million Deu.tsche Mark)
on condition that the Guarantor will ,g ive a guarantee in
respect of the Borrower ss obligations under the Loan
Agreement a:s follows :
- 2 -
- 2 -
Assent
Ｇ ＢｾＧﾷ＠
,.
The Guarantor hereby approves all provisions of the Loan
Agreement and agrees to grant any permissions which may be
necessary for the implementation of the Loan Agreement o
(1) Waiving all objections and defences arising from the
Loan .AgTeement 9 the.Guarantor hereby extends to KTeditanstal t the independent and irrevocable guarc;.i.ntee for
the due fulfilment of all obligations of payment under
thG Loan Agreement,
(2) Accordingly the Guarantor undertakes to make any payment
due from thG Borrower under the Loan Agreement upon firs ·f
demand by Kredi tanstal t if and as far as such payment du.e
.
from the Borrorrer is not effected as and when due " The
Guarantor'& obligations shall not depend on kreditanstal t ' s first giving notice to or demanding p8.yment
from the Borrovrcr or on Kredi tanstal t bringing action
.C
or taking any other step against the Borrowe:r, o_r on
Kredi tanstal t provj_ng -that the Borrower is in defaul
ﾷｾＮ＠
( 3) All payments . shall be effected in no oth0r currency i;ha:o.
ｾ＠
Deutsche 1.iark and shall be :J:'. ' emi•(i·i;ed to Kredi tans ta.lt 1 s
account No . 1o/1555 with Deutsche Bundes bank ? Frankfu1··G/
l\lain, no set-of:f against such payments b e ing permttted o
'
Ｚ ｾ＠ Ｇ Ｍ ｾﾷ＠
- 3 -
. "
Ｌ ｾ＠
- 3 -
ｾ
Ｍ
T1·ansfc-;r Gum:-antee
ｾＭ
Ｎ
ｾＭ
In addition to the payment guarantee given under Afticle II
of this Agreement, the Guarantor hereby agrees to permit
the B01'!'0\·1er tQ purchase and to ｴｩｾ｡Ｚｮｳｦ･ｲ＠
such amounts i:h.
Deutsche Mark, o.r? as the case riiay be, to ma.ke. available
Duch BJ11ounts of Deutsche Mark against payment in local
currency? as shall be required :for the pi'Oper fulfilment of
all claims o:f Kredi tans tal t under the Los.n Agreetimht ｾ＠
ﾷ ｾ＠
,1,,,.
IV
Article
·,
ｾ Ｚ＠
ｾ＠ ＭＭ
The Guarantor undertakes to endorse all :promissory ｮｯｴｾｳ＠
issued by the Borrm·1er pursuant to A:t'ticle ifI o:f the Loa:n
A.greement ,
Article
Ｍｊ
Ｍ ｾ＠
·' ::·
V
:•:-: - ··;::
.
ﾷ ｾＺ
ﾷ＠
-;
ｾＭＮ｟
ｾｲｯ
ｮＭｄＺｩＮｳ｣ｲ｡ｴｯ＠
( 1)
ﾷＭ
ＭＢＺｾＮＬ
Clause
Guarantor declares not to have furnished any mortgage.
. .
.or plGdgG of any kind covering ｯｴｨｾｲ＠
1ong..;..t'er:m extGrn.al
debts. Therefore 9 no mor·cgage o:r. pledge ｾｩ｢Ｎ｡
Ｑ Ｎ＠ be Ｎ ｦ Ｑ Ｑ ＱＺ Ｐ ｊＮＬＺｽｨ･､
for this Guarantee . In the ･ｶｾｮＭ＠
tha.t the GJ.Jart:lnt.or
ｾｬＱｨ･＠
. ｾ＠
; ﾷ ｾ Ｚ＠Ｎ
should :grovide any mortgage or pledge for any other longterm ex-liernal debts in the future he shall f'urnish Kred i tartstal t a mortgage or pledge of ,equa,l value o'
ｾ Ｎ＠
ｾﾷ＠
..
Ｌｾ ＮＬ Ｎ Ｂ＠
ｾ Ｚ＠ ＭＧ ｾＺ［Ｎ＠
Ｇ ＧＺ ｾ＠
ｾＬ＠
ｾ＠
. ｾ＼＠
:'•)
(2) ?he term "mortgage or pledg.e " as used in paragraph ( 1 )9 ab0;/"6?
shall mean any right enabling a credi·tor of the .G uarantor
to obtain preferential satisfaction from specific ｡ｳ･
ﾷ ｾｳ＠
or revenue of the Guarantor, the Central Bank, or any of
his agencies or en·berprises .
ｾＺ＠
- 4 -
+
?.,
ｾ＠
ｾﾷ＠
4
(3) The term
11
long-tcrm Gxtornal debt ll as used in paragraph ｴＭＱＩｾ＠
abovc,shnll mean any debt nhich sho.11 be payable in a
｣ｵｲＺｾｯｮｹ＠
othGr than tha i of the Guarantor and shall fall
due not earlier than onG year afteT the date on vrhich it
was incurredo
AJ,·ticle_y}
( ·1) lfo delay or 0mj_ssion in exercising any of Kredi tanstal ti s
rights under this Ag:reemen-!; shall be construed: as a waiy0:c
thereof or as acq_uiel':>oence in 8. ､･ｦｾＮｵｬｴ＠
e
'AYiJ ·e:x:el.'Cise
of .o :'lly part of the rights or any exercipe in part Df 8.n'.)r
of the ri.ghts sha.11 not preclude subsequent enforcement
of any $UCh rights nhich have not or not full,y been exercised o The invalidity of one or more of the provisions
of this Guarantee Agreement or of the Loan Agreement shall
not affe·ct the validity of this Guarantee Agreement or of
the other provisions of this Gu$,rantee Agre ement c
c
(2) Amendments or additions to the Loan Agreement shall only
be subjec·b to the Guarantor's e.pproval in so far as they
affect the paym0nt obligations guaranteed in Article II,
abo\re ..
Ｈ ｾＩ＠ ...
Any .stateme·n t or notice made or givcm in connec t ion with
this Agreement between the contracting parties shall be made
or gj_ven in nriting . Any such statement or notice shall be
deemed to ha.v,e been duly received as soon as it has been
- 5 -
- 5
ｾ ﾷ＠
delivered at the follo,·1ing 8,ddresses of t:ne respective con-tracting party:
. ,,.
For Kreditanstalt:
posta l address:
cable address:
Y..redi tanstal t fi.iI: Wiederaufbau
Lindenstrasse 27,
6 l!'r a nkfurt/Main .)
(Federal Republic of GermBny)
Kreditanstalt Frsnkfurtmain
liar the Guarantor :
postal address:
cable tt.ddress:
Ministry of Finance
Lapangan BRnteng 2,
Djakarta,
(Republ ic of Indonesia)
Ministry of ｆｩｮｾ｣･
Ｑ＠ Djakarta
Any change of the above addresses shall only be effective
\-:hen it has been received by the other contrRcting pa rty.
(4) The Mini ster of Finance and any p ersons empowered by him .
c
in v1ri ting to represent him vis--a-vis Kredi t B.nstal t sbHll
be authori zed to deliver and to ac cept a ll statements Rnd
to undertake all activities for Bnd on behalf of the
Guarantor in connection \'Ji th the implementation of tb.is
Guarantee ａｧｾ･ｭｮｴＮ＠
The power of attorney of such persons
shall also extend to additions to and amendments of ｴｨｩｾ＠
Agreement m1less the GuarHntor shall mfl.ke statements to the
contrary vis-a -vis Kreditrin s t a lt . The power
ｊｾ＠
Tribunal shall convene, the Arbitration Tribunal shall
fix an adequate remuneration o Each party shall bear
its oun expenses arising from the arbitration proceed.5.:ngs o
. .
The costs of the Arbitration Tribunal shall be borne
,]Jy the party agains t whom the award ,is rendered " ·rf n •
neither p2,rty obtains a full award? the _costs shall
borne proport ionately by both parties o
..ｾ＠
c
(3) The Arbitration Tribunal shall finally dec.i,de , alL
Ｍｾ＠
w
questions concerning costs o
(4) The parties shall be jointly and several ly liable
f or the payment of the remuneration to the persons
mentioned in Paragraph (1), supra .
ｾ＠
ﾷｾ＠