Decree of the Minister for Foreign Affairs No. 137 / 1988 Coll.
Decree of the Minister for Foreign Affairs on the Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the People's Republic of Bulgaria on the use of national currencies in settlement in the context of direct relations between the associations, undertakings and organisations of the CSSR and the BLR, as well as the establishment and activities of joint Czechoslovak-Bulgarian associations, enterprises and organisations
Valid
Effective from 01.09.1988
137
DECLARATION
Minister for Foreign Affairs
of 2 August 1988
on the Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the People's Republic of Bulgaria on the use of national currencies in settlement in the context of direct relations between associations, undertakings and organisations of the CSSR and BLR, as well as the establishment and operation of joint Czechoslovak-Bulgarian associations, enterprises and organisations
On 6 July 1988, the Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the People's Republic of Bulgaria on the use of national currencies in settlement in the context of direct relations between the associations, undertakings and organisations of ČSSR and BLR was signed in Prague, as well as the establishment and activities of joint Czechoslovak-Bulgarian associations, enterprises and organisations. The Agreement shall enter into force on 1 September 1988 pursuant to Article 10 thereof.
The Czech version of the Agreement is hereby published at the same time.
First Deputy:
JUDr. Johanes v. r.
AGREEMENT
between the Government of the Czechoslovak Socialist Republic and the Government of the People's Republic of Bulgaria on the use of national currencies in settlement in direct relations between associations, undertakings and organisations of the CSSR and BLR, as well as in the establishment and operation of joint Czechoslovak-Bulgarian associations, enterprises and organisations
The Government of the Czechoslovak Socialist Republic and the Government of the People's Republic of Bulgaria (hereinafter referred to as "the Contracting Parties') to assist the development of progressive forms of economic and scientific and technological cooperation and the successful implementation of the tasks arising from the" Long-term Programme of Economic and Scientific and Technical Cooperation between the CSSR and the BLR by 2000 'and the "Comprehensive Programme of Scientific and Technical Progress of the Member States of the RVHP by 2000'.
they have agreed as follows:
The arrangements for settlement between associations, undertakings and organisations (hereinafter referred to as "organisations') of the CSSR and BLR in the implementation of the direct relations and activities of international associations, joint ventures and organisations based on the use of the transferable rubble in accordance with the Agreement on multilateral settlement in transferable rubles and the establishment of MBHS of 22 October 1963, the Protocols thereto of 18 December 1970 and 23 November 1977 shall be supplemented by the possibility of settlement in the national currencies of the States of the Contracting Parties on the basis of their reciprocal conversibility and conversibility for transferable rubble.
The accounts and payments in the national currency of the States of the Contracting Parties may be carried out by CSSR and BLR organisations which have entered into a direct relationship agreement between them or are implementing an agreement establishing Czechoslovak-Bulgarian joint ventures, international associations or organisations.
Decisions on the use in settlement between the cooperating CSSR organisations and the BLR of the national currencies of the Contracting Parties in the implementation of the agreements referred to in Article 2 of the Agreement shall be taken by those organisations on the basis of mutual agreement.
The accounting for supplies of goods and services provided under direct relations shall be made in the national currency of the Contracting Party whose organisation supplies the goods or services. Transfers of funds for joint ventures, international associations and organisations not associated with the supply of goods and services shall be made in the agreed national currency of the States of the Contracting Parties.
The settlement of transactions under this Agreement shall take place through the Czechoslovak Commercial Bank, a. s. and the Bulgarian Foreign Trade Bank. Those banks shall enter into a technical arrangement within 90 days of the date of signature of the agreement on the arrangements for clearing and keeping accounts in national currencies, as well as the conditions for payment and remuneration. If necessary, banks may grant each other a technical loan.
The Contracting Parties shall guarantee the free sale of the relevant currency on the basis of the conversion rates referred to in Article 7 of this Agreement to CSSR and BLR organisations making payments in national currency under this Agreement.
The conversion rates resulting from the Agreement on the introduction of mutually agreed rates or coefficients of national currencies in relation to the collective currency (transferable rouble) and between them of 19 October 1973 and the additional contractual documents shall be used for reciprocal conversions between the Czechoslovak Crown and the Bulgarian Left and the Transferable Ruble.
If necessary, the competent authorities of CSSR and BLR may agree to use other mutually agreed rates (coefficients).
The amount of the applicable rate shall be published by the competent authorities of the States of the Contracting Parties.
In the event of a significant active balance being created by one of the Contracting Parties, the competent authorities shall agree on how to settle it.
This Agreement shall be without prejudice to the provisions of international contract documents in force between the Contracting Parties governing the non-commercial pay field.
This Agreement shall enter into force on 1 September 1988. It shall remain in force until 31 December 1990 and shall be extended for a further period of five years each time unless one of the Contracting Parties denies it at least one year before the expiry of the relevant period of validity.
Dane in Prague on 6 July 1988 in two original copies, each in Czech and Bulgarian languages, both texts being equally authentic.
For the Government
Czechoslovak Socialist Republic:
Jaromir Žák v. r.
For the Government
Republic of Bulgaria:
Stand Ovwiev v. r.
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Regulation Information
| Citation | Decree of the Ministry of Foreign Affairs No. 137 / 1988 Coll., on the Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the People's Republic of Bulgaria on the use of national currencies in settlement in the context of direct relations between the associations, undertakings and organisations of ČSSR and BLR, as well as in the establishment and operation of joint Czechoslovak-Bulgarian associations, enterprises and organisations |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 01.09.1988 |
|---|---|
| Effective from | 01.09.1988 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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