Selanjutnya
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ｾ＠
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No. 14
•
?
1994 ADDENDUM AGREEMENT TO, THE
RICE: LOAN AGREEMENTS (1985, 1989J AND 19921
BETWEEN
f
THE BADAN URUSAN LOGISTIK (BULOG)
OF THE REPUBLIC OF INDONESIA
AND
f
THE NATIONAL FOOD AUTHORITY} fNFA)
OF THE REPUBLIC OF THE PHILIPPINES
I
}'
!
JulV 19. 1989 and ｏｾ｣･ｭ｢ｲ＠
Be it known that on July 20, ＮＱＹＸＵｾ＠
1989. the BADAN URUSAN LOGISTIK (BULOG) of the
Republic of
Inqones1a
(hereinafter referred to as the LENDER)
and the
NATIONAL FOOD AUTHORITY (.NFA) of the Repubfic of the Philippines
(hereinafter referred to as the BORROWER) ･ｾｴｲ､＠
into contracts
otherwise known as the RICE LOAN AGREEMENTS!! (hereinafter referred
to as the Agreements).
·
11,
c
·wHEREAS.
under the said Rice Loan Agreements and subsequent
addendum/amendments drawn by the parties .. , the
latest maturity
dates of the remaining balance of ｴｨｾ＠
loans was extended
(Addendum Agreement dated September 18, 1992) to Decembe1· 31.
1993·
,,
,
1
WHEREAS.
in view of the current stock position and delay jn
the harvest
in the Philippines as a ｲ･ｳｵｬｾ＠
of the drought and
several
calamities that have occurred :i:in the country,
the
BORROWER has requested for the extension ofj the maturjty dates of
the aforesaid three (3) loans up to December 31, 1994 as follows:
,f
I
ｾＭＬｹｲｶ
DATE OF ORIGINAL
RICE LOAN
20
July
1985
ｾＭＺＬＮ｟［＠
LATEST MATURITY DATE PER ·i
ADDENDUM AGREEMENT DATED . INTEREST
f ｾＢＧ＠
t
on or before 31 Dec. 1993(
6%
PROPOSED
OF MATURITY
ｾｎＮﾷＬ｟Ｍｶ＠
on or before
31 Dec.
tj
19 July 19ti9
ｅｘｔｊＺｾｎｓｉｏ＠
on or before 31 Dec. 19931!.
J•
6%
1994
on or before
31 Dec. 1994
ｾ＠
(
11 Dec.
1989
on or before 31 Dec.
19931
ＱＲｾｴ＠
on or be tore
:.:11 Dec. 1994
WHEREAS.
under the September 18.
1992 Addendum Agreement
(page 2,
item no. 2) it is provided thatf future calculations
shall start September 1, 1992 based on ｴｾ･＠
total rice
loans
balance computed as of August 31. 1992 whibh is 176.451.608 MT
representing 153,609.648 as principal apd 22,841.96 Kr
as
interest;
WHEREAS, the BORROWER has further ｲ･ｱｵｾｴ､＠
for the LENDER'S
consideration that the interest rate of thel remaining bal·· ce of
the rice loan covered by the Agreement ､｡ｴ･ｾ＠
December 11. 1989 be
!
t
1
"I
ｾ＠
I
(
I.
reduced
from 12% to 6% per annum effective retroactively
from
September 1, 1Y92.
The ｾｏｒｗｅ＠
also ｲ･ｱｵｾｳｴ､＠
for the
｛ＮｾｎｄｅｒＧｓ＠
consideratjon that in the extension of the :maturity dates of the
remaining balance of the rice loans to December 31. 1994. the 6%
per annum Interest be based on the total rice loans balance as of
September 1,
1992 which is 176,451.608 MT instead of
the rice
loans balance by December 31, 1993 so as not
to compound the
interest payment;
WHEREAS,
invoking the Agreement's pro'lisions on Matters of
Repayment of loaned rice and Consultation, j·t.hat such matters . not
provided in the Agreements shall
be decided through mutual
consultation.
the parties hereto
in the spirit of
ASEAN
cooperation and the long standing good ｲ･ｾ｡ｴｩｯｮｳｨｰ＠
between the
Philippines and Indonesia and most ･ｳｰ｣ｩｾｬｹ＠
and
particularly
between the herein two agencies do herebx agree to amend the
Agreements.
i
c
w
ｉＡｾ＠
ｾｉ＠
t
NOW, THEREFORE,
for ｾｮ､＠
in ｣ｯｮｳｩ､･ｲ｡ｾ＠
of the
foregoing
and the terms and conditions herein set fortth, the parties agree
to amend the Rice Loan Agreements ｰ｡ｲｴｩ｣ｵｬｾｹ＠
on repayment terms
as follows:
I
1.
The LENDER agrees to the BORROWER'S request
that
the
interest rate of the remaining baiance of the rice
loan
covered by the Agreement dated Oecember 11,
1989 be
reduced from 12% to 6% per annum effective retroactively
from September 1, ｾＹＲＮ＠
J
2.
The LENDER further agrees to the BORROWER'S request
to
extend the maturity dates of the remaining balance of the
loans on or before December 31. ＱＹｾＴ＠
and shall bear a
6%
per annum interest
for all the Loans covered by the
Agreements and that the said interest shall be based on
the total
rice loans balance as of September 1.
1992
which is 176.451.608 MT.
Conseque.ntly,
the calculated
total
rice
loan repayment due ｢ｹﾷｾ･｣ｭｲ＠
31,
1994
is
201.154.831 MT representing the principal of
1'76.451.608
MT and 24,703. 223 MT as interest p,er attached Annex
A
which shall
form as an inteqrali part of this
199.3
Addendum Agreement.
'
c.
II
-
3.
II
I
That the BORROWER depending on its rice supply and demand
situation, has the ｯｾｴｩｮ＠
to pay iri part or 1n fuJl prior
to the expiration of the extended ｾ･ｲｩｯ､＠
for repayment
subject to prior consultation wit)l the LENDER on the
specific quantities, shipment periqd and other details.
!
- 2 -
.,,
t
tIt
All other terms and conditions of the Agreements and thl?
subsequent
Addendum Amendments drawn by the
partjes
not
inconsistent hereof shall remain valid and binding and that
this
1994 Addendum Agreement shall form as an integral part thereof.
This Addendum Agreement shall come into force on the date
signing ·by the parties.
Done at Manila. Philippines on the 15th
in duplicate in the English language.
day
of
February.
1994,
c
FOR THE GOVERNMENT OF THE
REPUBLIC OF THE PHILIPPINES
FOR THE GOVERNMENT OF THE
REPUBLIC OF INDONESIA
BY:
BY:
Signed
Signed
H.E. IBRAHIM HASAN
Minister for Food Affairs
and jCha irman
BADKN URUSAN LOGISTIK (HULOG)
H.E. ROBERTO S . SEBASTIAN
Chairman, NFA Council and
Secretary, Department of
Agriculture
WITNESSES
FOR THE AMBASSADOR:
Signed
Signed
R.M. TALIS PUSPUKUSUMO. SH.
Minister Counsellor
Chief of ｾ｣ｯｮｭｩ＠
Affairs
INDONESIAN EMBASSY
ROMEO"\V. DAVID
Administrator
National Food Authority
c
C.
- 3 -
of
ANNEX "A"
RlCE LOANS CALCULATIONS PAYABLE TO
BULOG. INDONESIA UNTIL DEC. 31, 1994
IN METRIC TONS
I.
c
II.
Rice Loan Agreement (July 20, 1985}
Balance per 31/08/92
25,889.851
Add: Interest at 6% p.a.
(01/09/92 to 31/12/94)
3,624.579
29.514.430 MT
Rice Loan Agreement (July 19, 1989)
Balance ｰｾｲ＠
31/08/92
133,500.867
Add: Interest at 6% p.a.
{01/09/92 to 31/12/94)
18,690.121 152,190.988
III. Rice Loan ａｧｲｾ･ｭｮｴ＠
(Dec. 11, 1989)
Balance per 31/08/92
17;060.890
Add: Interest at 6% p.a.
(01/09/92 to 31/12/94)
2,388.523
GRAND TOTAL 12/31/94
19,449.413
201.154.831 MT
===============
SUMMARY:
Principal as of September 01. 1992
Interest (01/09/92 to 31/12/94)
c
(
176,451.608 MT
24. 7()3. 223
201.154.8]1 MT
ｾ＠
.
ｾＬ＠
;
,. /
.
.
No. 14
•
?
1994 ADDENDUM AGREEMENT TO, THE
RICE: LOAN AGREEMENTS (1985, 1989J AND 19921
BETWEEN
f
THE BADAN URUSAN LOGISTIK (BULOG)
OF THE REPUBLIC OF INDONESIA
AND
f
THE NATIONAL FOOD AUTHORITY} fNFA)
OF THE REPUBLIC OF THE PHILIPPINES
I
}'
!
JulV 19. 1989 and ｏｾ｣･ｭ｢ｲ＠
Be it known that on July 20, ＮＱＹＸＵｾ＠
1989. the BADAN URUSAN LOGISTIK (BULOG) of the
Republic of
Inqones1a
(hereinafter referred to as the LENDER)
and the
NATIONAL FOOD AUTHORITY (.NFA) of the Repubfic of the Philippines
(hereinafter referred to as the BORROWER) ･ｾｴｲ､＠
into contracts
otherwise known as the RICE LOAN AGREEMENTS!! (hereinafter referred
to as the Agreements).
·
11,
c
·wHEREAS.
under the said Rice Loan Agreements and subsequent
addendum/amendments drawn by the parties .. , the
latest maturity
dates of the remaining balance of ｴｨｾ＠
loans was extended
(Addendum Agreement dated September 18, 1992) to Decembe1· 31.
1993·
,,
,
1
WHEREAS.
in view of the current stock position and delay jn
the harvest
in the Philippines as a ｲ･ｳｵｬｾ＠
of the drought and
several
calamities that have occurred :i:in the country,
the
BORROWER has requested for the extension ofj the maturjty dates of
the aforesaid three (3) loans up to December 31, 1994 as follows:
,f
I
ｾＭＬｹｲｶ
DATE OF ORIGINAL
RICE LOAN
20
July
1985
ｾＭＺＬＮ｟［＠
LATEST MATURITY DATE PER ·i
ADDENDUM AGREEMENT DATED . INTEREST
f ｾＢＧ＠
t
on or before 31 Dec. 1993(
6%
PROPOSED
OF MATURITY
ｾｎＮﾷＬ｟Ｍｶ＠
on or before
31 Dec.
tj
19 July 19ti9
ｅｘｔｊＺｾｎｓｉｏ＠
on or before 31 Dec. 19931!.
J•
6%
1994
on or before
31 Dec. 1994
ｾ＠
(
11 Dec.
1989
on or before 31 Dec.
19931
ＱＲｾｴ＠
on or be tore
:.:11 Dec. 1994
WHEREAS.
under the September 18.
1992 Addendum Agreement
(page 2,
item no. 2) it is provided thatf future calculations
shall start September 1, 1992 based on ｴｾ･＠
total rice
loans
balance computed as of August 31. 1992 whibh is 176.451.608 MT
representing 153,609.648 as principal apd 22,841.96 Kr
as
interest;
WHEREAS, the BORROWER has further ｲ･ｱｵｾｴ､＠
for the LENDER'S
consideration that the interest rate of thel remaining bal·· ce of
the rice loan covered by the Agreement ､｡ｴ･ｾ＠
December 11. 1989 be
!
t
1
"I
ｾ＠
I
(
I.
reduced
from 12% to 6% per annum effective retroactively
from
September 1, 1Y92.
The ｾｏｒｗｅ＠
also ｲ･ｱｵｾｳｴ､＠
for the
｛ＮｾｎｄｅｒＧｓ＠
consideratjon that in the extension of the :maturity dates of the
remaining balance of the rice loans to December 31. 1994. the 6%
per annum Interest be based on the total rice loans balance as of
September 1,
1992 which is 176,451.608 MT instead of
the rice
loans balance by December 31, 1993 so as not
to compound the
interest payment;
WHEREAS,
invoking the Agreement's pro'lisions on Matters of
Repayment of loaned rice and Consultation, j·t.hat such matters . not
provided in the Agreements shall
be decided through mutual
consultation.
the parties hereto
in the spirit of
ASEAN
cooperation and the long standing good ｲ･ｾ｡ｴｩｯｮｳｨｰ＠
between the
Philippines and Indonesia and most ･ｳｰ｣ｩｾｬｹ＠
and
particularly
between the herein two agencies do herebx agree to amend the
Agreements.
i
c
w
ｉＡｾ＠
ｾｉ＠
t
NOW, THEREFORE,
for ｾｮ､＠
in ｣ｯｮｳｩ､･ｲ｡ｾ＠
of the
foregoing
and the terms and conditions herein set fortth, the parties agree
to amend the Rice Loan Agreements ｰ｡ｲｴｩ｣ｵｬｾｹ＠
on repayment terms
as follows:
I
1.
The LENDER agrees to the BORROWER'S request
that
the
interest rate of the remaining baiance of the rice
loan
covered by the Agreement dated Oecember 11,
1989 be
reduced from 12% to 6% per annum effective retroactively
from September 1, ｾＹＲＮ＠
J
2.
The LENDER further agrees to the BORROWER'S request
to
extend the maturity dates of the remaining balance of the
loans on or before December 31. ＱＹｾＴ＠
and shall bear a
6%
per annum interest
for all the Loans covered by the
Agreements and that the said interest shall be based on
the total
rice loans balance as of September 1.
1992
which is 176.451.608 MT.
Conseque.ntly,
the calculated
total
rice
loan repayment due ｢ｹﾷｾ･｣ｭｲ＠
31,
1994
is
201.154.831 MT representing the principal of
1'76.451.608
MT and 24,703. 223 MT as interest p,er attached Annex
A
which shall
form as an inteqrali part of this
199.3
Addendum Agreement.
'
c.
II
-
3.
II
I
That the BORROWER depending on its rice supply and demand
situation, has the ｯｾｴｩｮ＠
to pay iri part or 1n fuJl prior
to the expiration of the extended ｾ･ｲｩｯ､＠
for repayment
subject to prior consultation wit)l the LENDER on the
specific quantities, shipment periqd and other details.
!
- 2 -
.,,
t
tIt
All other terms and conditions of the Agreements and thl?
subsequent
Addendum Amendments drawn by the
partjes
not
inconsistent hereof shall remain valid and binding and that
this
1994 Addendum Agreement shall form as an integral part thereof.
This Addendum Agreement shall come into force on the date
signing ·by the parties.
Done at Manila. Philippines on the 15th
in duplicate in the English language.
day
of
February.
1994,
c
FOR THE GOVERNMENT OF THE
REPUBLIC OF THE PHILIPPINES
FOR THE GOVERNMENT OF THE
REPUBLIC OF INDONESIA
BY:
BY:
Signed
Signed
H.E. IBRAHIM HASAN
Minister for Food Affairs
and jCha irman
BADKN URUSAN LOGISTIK (HULOG)
H.E. ROBERTO S . SEBASTIAN
Chairman, NFA Council and
Secretary, Department of
Agriculture
WITNESSES
FOR THE AMBASSADOR:
Signed
Signed
R.M. TALIS PUSPUKUSUMO. SH.
Minister Counsellor
Chief of ｾ｣ｯｮｭｩ＠
Affairs
INDONESIAN EMBASSY
ROMEO"\V. DAVID
Administrator
National Food Authority
c
C.
- 3 -
of
ANNEX "A"
RlCE LOANS CALCULATIONS PAYABLE TO
BULOG. INDONESIA UNTIL DEC. 31, 1994
IN METRIC TONS
I.
c
II.
Rice Loan Agreement (July 20, 1985}
Balance per 31/08/92
25,889.851
Add: Interest at 6% p.a.
(01/09/92 to 31/12/94)
3,624.579
29.514.430 MT
Rice Loan Agreement (July 19, 1989)
Balance ｰｾｲ＠
31/08/92
133,500.867
Add: Interest at 6% p.a.
{01/09/92 to 31/12/94)
18,690.121 152,190.988
III. Rice Loan ａｧｲｾ･ｭｮｴ＠
(Dec. 11, 1989)
Balance per 31/08/92
17;060.890
Add: Interest at 6% p.a.
(01/09/92 to 31/12/94)
2,388.523
GRAND TOTAL 12/31/94
19,449.413
201.154.831 MT
===============
SUMMARY:
Principal as of September 01. 1992
Interest (01/09/92 to 31/12/94)
c
(
176,451.608 MT
24. 7()3. 223
201.154.8]1 MT