Selanjutnya
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PAYMENTS AGREEMENT
BETWEEN
THE REPUBLIC OF INDONESIA
AND
THE UNITED ARAB REPUBLIC
With a view to facilitating and regulating payments between
the two countries, on the basis of equality and mutual benefit, the
Government of the Republic of Indonesia and the Government of the
United Arab Republic have come to the following Agreement:
Article 1
Current payments between physical or juridical persons residing in the Republic of Indonesia and physical or juridical person residing in the United Arab Republic as defined in the here to
annexed "Schedule of current payments" shall be effected in accordance with the stipulations of this Agreement and in conformity with
the laws and exchange control regulations in force in the two countries.
This Agreement does not apply however, to the payment of
Suez Canal dues which shall continue to be effected outside the
account mentioned in Article 2, in convertible currencies as prescribed by the exchange control regulations in force in the United
Arab Republic.
Article
2
For the implementation of this Agreement all current payments
shall be effected through a U.S. Dollar Clearing Account to be opened
with Bank Negara Indonesia acting as agent of the Government of the
Republic of Indonesia and the Central Bank of Egypt acting as agent
ar
the Government of the United Arab Republic. These accounts will
bear no interest and will be kept free of commission and charges.
Article
3
Both Parties shall grant each other a swing credit free of
interest on the "Clearing Account" mentioned under Article 2 up to
u.s.$ 1.000.000.-
unit of account.
ｲ
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ｾ＠
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Any
excess over the above limit shall be settled by the debtor
bank within thirty days in convertible currencies at the request of the
creditor bank.
Article
4
Contracts and invoices relating to the trade between the Republic
of Indonesia and the United Arab Republic as well as payment orders and
payment documents shall be expressed in terms of U.S. Dollars.
Article
5
In aase of a?\Y change in the gold parity of the U.S. Dollar
which is at present:
One U.S. Dollar = 0.888671 grams of fine gold
the balance of the acoowits in U.S. Dollar referred to in Article 2
above, on the date of the change, shall be adjusted accordingly so as
to ensure that the gold value of the balance remains the same.
The ceiling of the swing credit referred to in Article 3 shall
be adjusted in the same way.
Article
6
The Bank Negara Indonesia and the Central Bank of Egypt will,
by mutual agreement, establish all technical modalities necessary for
the regular :f\lnctioning of this Agreement •
.Article
A.
7
Settlement of the accowit shall take place at the end of each
period of one year as from the coming into force of' this
Agreement unless settlement is waived by the creditor in writing
on the expiring date of the afore-mentioned period.
B.
c.
The net balance will be settled in accordance with the stipulations stated in paragraph "C" below.
The net balance sball be settled on demand of the creditor either
by convertible currency within 30 days after the demand was made
or by means of goods agreed upon by both Parties within 60 days
after the date of' settlement. The payment there of' shall be passed
through the Clearing Account.
r
- 3 D.
In case the settlement shows a balance in favour of the Republic
of Indonesia according to the provisions mentioned above this
balance shall be offset against the credit balance in the Special
Account pf that date •
.A£efer the offsetting the balance shall be settled in accordance
with paragraph C above .
Article
8
In order to facilitate the implementation of this Ji,greement both Parties
agree to consult with each other in respect of any matter arising from or in con
nection with this Agreement.
For this purpose they shall form a Joint Committee which shall meet at
the request of either Party. The meeting will take place alternative ly in the
capital of each country.
Article
9
Amendments and supplements to this agreement should be submitted in
writing after mutual agreement of both parties.
Article
10
In the event of termination of this Agreement, the following stipulations
will be in force :
A.
The net balance as of the effective date of termination shell be settled
in accordance vii th the provisions of Article 7 paragraph "C".
B.
After the e:ff'ective date of termination of this Agreement only payments
under contracts and commitments outstanding on that date for which payments the provisions of this Agreements shall remain valid, shall be permitted to be entered into the accounts which will be reopened for this
purpose only.
c.
the settlement of the outstanding contracts and commitments,
ｈｯｷ･ｶｲｾ＠
payments of which will not
ｨ｡ｶｾ＠
been completed v1i thin a period of six
months after the effective date of the termination of this Agreement,
shall be renegotiated by both Parties as to the implementation of the
payments thereof, with due regard to the terms and conditions of the
underlying contracts.
D.
The net balance of the reopened accounts as at the end of the sixth
month after the effective date of the termination of this Agreement shall
be paid by the debtor within 30 days on demand of the creditor in
convertible currency.
I
L-ｾ｟ＬＮＭ＠
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..........=-.--=Ar=t=i=cl-e-=-1-1= .=·=··•
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I
- 4 Article
11.
This Agreement is subject to ratification and shall come into
force provisionally on October 1, 1965 and finally on the date of
exchange of ratification instruments.
Article 12
This Agreement shall remain in force from October 1, 1965
up to December 31, 1966 and shall be tacitly renewed for other yearly
periods unless previous notice to the ｣ｯｮｴｲｾ＠
is given in writing by
either Party 3 (three) months before its expiry date.
In witness whereof the representatives duly authorized by their
respective Governments have signed t his Agreement •
.
Done at Djakarta, on September 30, 1965, in two original copies
in English, both copies being equally authentic.
For
the Government
Republic
of
of the
Indonesia,
Signed
( ACHMAD PONSEN ).
For the Government of the
United Arab
Republic,
Signed
( M.AlhlOUD SIDKY MORAD ).
r
" SCHEDUIE OF GTJ"RF.ENT F Y11El1TS
11
I
·
l. Payments f'or go ods excho.. \:;ed bei,17ee11 botl, countries a nd all
expenses connected therewith.
2. Bank charges, commissions etc.
3.
Consular fees.
lj.• Travelling and maintenance expenses.
5. Fees and royalties on patents; trade marks, licences,
copyright and other similar richts.
6. I n surance, re-insurance , preniums and claims.
7. Salaries, pensions; fees, wages and honoraries.
8 . Expenses relating to soc ial and cultural activities, fairs
and exhibitions; exe cution cf' sport artists perfonnances
and other similar acti v i ties.
9. Periodical settlements to Post, transport expenses and
or eani sat ions.
10. Ship repairs, disbursements, trunsport expenses and usual
supplies of ships viith the exclusion of' coal, fuel a nd
lubricating oils.
11. Port dues.
12. Net income accruing from air, sea transport and other means
of communications.
13 •. Payments resulting from scientific and technical cooperation;
training of citizens al1d delegP,cion of experts.
14.
Legal fees, tax9s , fines and other expenses connected therewith.
15. Other payments to be a greed upon between the competent authorities
in both countries.
I
I
PAYMENTS AGREEMENT
BETWEEN
THE REPUBLIC OF INDONESIA
AND
THE UNITED ARAB REPUBLIC
With a view to facilitating and regulating payments between
the two countries, on the basis of equality and mutual benefit, the
Government of the Republic of Indonesia and the Government of the
United Arab Republic have come to the following Agreement:
Article 1
Current payments between physical or juridical persons residing in the Republic of Indonesia and physical or juridical person residing in the United Arab Republic as defined in the here to
annexed "Schedule of current payments" shall be effected in accordance with the stipulations of this Agreement and in conformity with
the laws and exchange control regulations in force in the two countries.
This Agreement does not apply however, to the payment of
Suez Canal dues which shall continue to be effected outside the
account mentioned in Article 2, in convertible currencies as prescribed by the exchange control regulations in force in the United
Arab Republic.
Article
2
For the implementation of this Agreement all current payments
shall be effected through a U.S. Dollar Clearing Account to be opened
with Bank Negara Indonesia acting as agent of the Government of the
Republic of Indonesia and the Central Bank of Egypt acting as agent
ar
the Government of the United Arab Republic. These accounts will
bear no interest and will be kept free of commission and charges.
Article
3
Both Parties shall grant each other a swing credit free of
interest on the "Clearing Account" mentioned under Article 2 up to
u.s.$ 1.000.000.-
unit of account.
ｲ
j
ｾ＠
I
I
- 2 -
I
Any
excess over the above limit shall be settled by the debtor
bank within thirty days in convertible currencies at the request of the
creditor bank.
Article
4
Contracts and invoices relating to the trade between the Republic
of Indonesia and the United Arab Republic as well as payment orders and
payment documents shall be expressed in terms of U.S. Dollars.
Article
5
In aase of a?\Y change in the gold parity of the U.S. Dollar
which is at present:
One U.S. Dollar = 0.888671 grams of fine gold
the balance of the acoowits in U.S. Dollar referred to in Article 2
above, on the date of the change, shall be adjusted accordingly so as
to ensure that the gold value of the balance remains the same.
The ceiling of the swing credit referred to in Article 3 shall
be adjusted in the same way.
Article
6
The Bank Negara Indonesia and the Central Bank of Egypt will,
by mutual agreement, establish all technical modalities necessary for
the regular :f\lnctioning of this Agreement •
.Article
A.
7
Settlement of the accowit shall take place at the end of each
period of one year as from the coming into force of' this
Agreement unless settlement is waived by the creditor in writing
on the expiring date of the afore-mentioned period.
B.
c.
The net balance will be settled in accordance with the stipulations stated in paragraph "C" below.
The net balance sball be settled on demand of the creditor either
by convertible currency within 30 days after the demand was made
or by means of goods agreed upon by both Parties within 60 days
after the date of' settlement. The payment there of' shall be passed
through the Clearing Account.
r
- 3 D.
In case the settlement shows a balance in favour of the Republic
of Indonesia according to the provisions mentioned above this
balance shall be offset against the credit balance in the Special
Account pf that date •
.A£efer the offsetting the balance shall be settled in accordance
with paragraph C above .
Article
8
In order to facilitate the implementation of this Ji,greement both Parties
agree to consult with each other in respect of any matter arising from or in con
nection with this Agreement.
For this purpose they shall form a Joint Committee which shall meet at
the request of either Party. The meeting will take place alternative ly in the
capital of each country.
Article
9
Amendments and supplements to this agreement should be submitted in
writing after mutual agreement of both parties.
Article
10
In the event of termination of this Agreement, the following stipulations
will be in force :
A.
The net balance as of the effective date of termination shell be settled
in accordance vii th the provisions of Article 7 paragraph "C".
B.
After the e:ff'ective date of termination of this Agreement only payments
under contracts and commitments outstanding on that date for which payments the provisions of this Agreements shall remain valid, shall be permitted to be entered into the accounts which will be reopened for this
purpose only.
c.
the settlement of the outstanding contracts and commitments,
ｈｯｷ･ｶｲｾ＠
payments of which will not
ｨ｡ｶｾ＠
been completed v1i thin a period of six
months after the effective date of the termination of this Agreement,
shall be renegotiated by both Parties as to the implementation of the
payments thereof, with due regard to the terms and conditions of the
underlying contracts.
D.
The net balance of the reopened accounts as at the end of the sixth
month after the effective date of the termination of this Agreement shall
be paid by the debtor within 30 days on demand of the creditor in
convertible currency.
I
L-ｾ｟ＬＮＭ＠
I
-
_ _JI
..........=-.--=Ar=t=i=cl-e-=-1-1= .=·=··•
-i
I
- 4 Article
11.
This Agreement is subject to ratification and shall come into
force provisionally on October 1, 1965 and finally on the date of
exchange of ratification instruments.
Article 12
This Agreement shall remain in force from October 1, 1965
up to December 31, 1966 and shall be tacitly renewed for other yearly
periods unless previous notice to the ｣ｯｮｴｲｾ＠
is given in writing by
either Party 3 (three) months before its expiry date.
In witness whereof the representatives duly authorized by their
respective Governments have signed t his Agreement •
.
Done at Djakarta, on September 30, 1965, in two original copies
in English, both copies being equally authentic.
For
the Government
Republic
of
of the
Indonesia,
Signed
( ACHMAD PONSEN ).
For the Government of the
United Arab
Republic,
Signed
( M.AlhlOUD SIDKY MORAD ).
r
" SCHEDUIE OF GTJ"RF.ENT F Y11El1TS
11
I
·
l. Payments f'or go ods excho.. \:;ed bei,17ee11 botl, countries a nd all
expenses connected therewith.
2. Bank charges, commissions etc.
3.
Consular fees.
lj.• Travelling and maintenance expenses.
5. Fees and royalties on patents; trade marks, licences,
copyright and other similar richts.
6. I n surance, re-insurance , preniums and claims.
7. Salaries, pensions; fees, wages and honoraries.
8 . Expenses relating to soc ial and cultural activities, fairs
and exhibitions; exe cution cf' sport artists perfonnances
and other similar acti v i ties.
9. Periodical settlements to Post, transport expenses and
or eani sat ions.
10. Ship repairs, disbursements, trunsport expenses and usual
supplies of ships viith the exclusion of' coal, fuel a nd
lubricating oils.
11. Port dues.
12. Net income accruing from air, sea transport and other means
of communications.
13 •. Payments resulting from scientific and technical cooperation;
training of citizens al1d delegP,cion of experts.
14.
Legal fees, tax9s , fines and other expenses connected therewith.
15. Other payments to be a greed upon between the competent authorities
in both countries.
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