Communication from the Ministry of Foreign Affairs No 461 / 2025 Coll.
Communication from the Ministry of Foreign Affairs declaring the Agreement between the Government of the Democratic Republic of Algeria, on the one hand, and the Government of the Czech Republic and the Government of the Slovak Republic, on the other hand, on the resolution of financial matters
Valid
International Treaty
Effective from 22.09.2024
461
COMMUNICATION
Ministry of Foreign Affairs,
declaring an Agreement between the Government of the Democratic Republic of Algeria, of the one part, and the Government of the Czech Republic and the Government of the Slovak Republic, of the other part on financial matters
The Ministry of Foreign Affairs announces that on 22 September 2024 the Agreement between the Government of the Democratic Republic of Algeria and the Government of the Czech Republic and the Government of the Slovak Republic on financial matters was signed in Algiers.
The Agreement entered into force on the basis of Article IX (1) of the Agreement on the date of signature and that date expired in relations between the Czech Republic and the People's Democratic Republic of Algeria. The Loan Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Democratic Republic of Algeria, signed in Prague on 16 November 1984.
The English version of the Agreement and its translation into the Czech language are announced simultaneously.
Minister:
v z. Mgr. Šlais v. r.
Head of Legal and Consular Section
Příloha č. 1
Annex No 1
Translation of international contract into Czech language
Agreement
between
Government
Republic of Algeria
of the one part,
and
Government
Czech Republic
and
Government
Slovak Republic
of the other part,
on the resolution of financial matters
Government of the Czech Republic (hereinafter referred to separately as the "Czech Government '), Government of the Algerian Democratic and People's Republic (hereinafter referred to separately as" Algerian Government') and Government of the Slovak Republic (hereinafter referred to separately as "Slovak Government '), and listed jointly as" Contracting Parties',
TAKING into account the note of the Ministry of Foreign Affairs of the Czech Republic No 112.958 / 94-MPO of 30 November 1994 and the note of the Ministry of Foreign Affairs of the Slovak Republic No 584 / 94-NO of 4 October 1994, addressed to the Ministry of Foreign Affairs of the Algerian Democratic and People's Republic, concerning the distribution of assets and liabilities of the former Czech and Slovak Federal Republic to other countries between the Czech Republic and the Slovak Republic,
RECALLING the Loan Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Democratic Republic of Algeria of 16 November 1984 (hereinafter referred to as the "Loan Agreement '),
BEARING IN MIND the fact that the Czech Republic and the Slovak Republic, as the two legal successors of the former Czech and Slovak Federal Republic, manage, independently and independently, their shares in the assets and liabilities of the former Czech and Slovak Federal Republic in relation to foreign countries in proportion to approximately two thirds for the Czech Republic and one third for the Slovak Republic,
CONSIDERING the Minutes of the Trilateral Meeting between the Representatives of the Finance Ministers of the Democratic Republic of Algeria, the Slovak Republic and the Czech Republic of 15 February 2023,
CONSIDERING the Agreed Minutes of the Trilateral Meeting between the Representatives of the Finance Ministers of the People's Democratic Republic of Algeria, the Slovak Republic and the Czech Republic of 31 October 2023,
DESIRING to settle a friendly financial dispute relating to the Loan Agreement dating deep into the period of the Czechoslovak Socialist Republic,
agree as follows:
Article I
Financial matters addressed
1. The Trilateral Financial Dispute is based on the fact that not all the terms of the Loan Agreement have been met, due to outstanding issues relating to the contractual obligations of the Czechoslovak company PRAGOINVEST towards the Algerian company ENDMC, concluded in 1987, relating to the procurement and installation of industrial equipment for projects in Algeria, financed by the Loan Agreement of $200 000.
2. The Contracting Parties agree that the principal remaining positive balance relating to the Loan Agreement used for the implementation of the projects referred to in paragraph 1 shall be at the rate of eighteen million five hundred ninety-three thousand two hundred ninety-four US dollars and twenty-two cents (USD 18 593 294,22).
Article II
Confirmation of the current state of the financial affairs and mutual debt and debt
1. With reference to the total amount of principal referred to in Article Even in paragraph 2, the portion of the principal relating to the Czech Republic shall be five hundred thirty-three thousand nine hundred thirty-eight dollars and thirteen cents (USD 12 533 938,13).
2. With reference to the total amount of principal referred to in Article Even in paragraph 2, the part of the principal relating to the Slovak Republic is worth six million fifty-nine thousand three hundred fifty-six dollars and nine cents (USD 6 059 356,09).
3. The remaining Slovak financial assets of two million four hundred forty-nine thousand three hundred seventy-five US dollars and sixty-three cents (USD 2 449 375,63) are held in a separate bank account in the Bank of Algeria.
Article III
Settlement conditions
1. The following settlement principles have been agreed by the contracting authority:
(a) the amount resulting from the final judgment of the Court in Hussein-Dey, Algiers, of 6 December 1992, condemning the Czechoslovak company PRAGOINVEST to pay two billion seven hundred twenty-one million eighty-one thousand one hundred and seventy-four Algerian dinars (2 721 081 174,00 DZD), increased by a penalty of five thousand Algerian dinars (5 000 DZD) per day, as compensation for damage caused by failure to comply with the contractual obligations by PRAGOINVEST, shall not be applied;
(b) interest accrued on the principal of the remaining positive balance provided for in Article In addition, paragraph 2 of twenty-five million five hundred sixty-eight thousand two hundred forty dollars and eighty-five cents (USD 25 568 240,85) on 31 December 2022 shall not apply;
(c) the amount of additional expenditure and overheads incurred by the Algerian Government in connection with the continuation of the remaining work for the completion of projects, amounting to eight million two hundred seventy-five thousand eight hundred and eighty dollars and seventy cents (USD 8 275 880,70), shall be deducted from the principal of the remaining positive balance provided for in Article I (2).
2. The deducted amount of eight million two hundred seventy-five thousand eight hundred eighty US dollars and seventy cents (USD 8 275 880,70) referred to in Article III (1) (c) shall correspond to the following expenditure:
(a) USD 7 029 533,07 relating to contract No 141 / 92 signed between Enterprise Céramique de l'Ouest "ECO" (formerly ENDMC) and Nassetti Ettore SPA on 5 May 1992;
(b) USD 639 399,09 relating to contract No 150 / 93 signed between Enterprise Ceramique de l'Ouest "ECO" (formerly ENDMC) and Nassetti Ettore SPA on 6 September 1993;
(c) USD 606 948,54 relating to notices of debits relating to the corresponding payments during the period 1992- 1994, falling within the framework of a contract signed between the Enterprise Ceramique de l'Est "ECE" (formerly ENDMC) and Nastetti Ettore SPA in 1992.
3. In accordance with the principles set out in paragraph 1, the final balance of the settled balance of the remaining outstanding positive balance of the Czech Republic and the Slovak Republic (hereinafter referred to as "the settled amount") shall be three hundred and seventeen thousand four hundred and thirteen dollars and fifty-two cents (USD 10 317 413,52).
4. The Contracting Parties agree that the settlement amount referred to in paragraph 1 shall be divided between the Czech Republic and the Slovak Republic as follows:
(a) the part of the settlement of amounts relating to the Czech Republic (hereinafter referred to as "the settled amount of CZ") amounts to six million eight hundred seventy-eight thousand two hundred seventy-five US dollars and sixty-eight cents (USD 6 878 275,68);
(b) the part of the settlement of amounts relating to the Slovak Republic (hereinafter referred to as "the settled amount of SK") shall be equal to three million of four hundred thirty-nine thousand hundred and thirty-seven dollars and eighty-four cents (USD 3 439 137,84).
Article IV
Conditions for repayment
1. The Algerian Government shall pay the amount settled as broken down in accordance with Article III (4) separately in six (6) equal and subsequent half-yearly instalments. The first instalment shall be paid by 30 September 2024 and the last one by 30 March 2027, in accordance with the schedule referred to in the Annex, which forms an integral part of this Agreement.
2. Any payment of the instalments referred to in paragraph 1 shall be made by the Government of Algeria on behalf of the Public Treasury by means of transfers as follows:
(a) the relevant payments to the Czech Republic will be made to the account of the Czech National Bank No 10923239 at Citibank in New York (using Swift Code: CITIUS33);
(b) the relevant payments to the Slovak Republic will be made to the account of Národná banka Slovenska no. 1001330032 v VUB Bratislava (using Swift Code: SUBASKBX).
3. Payments made in accordance with the provisions of this Agreement shall be exempt from taxes or charges which may be compulsory under the legal or regulatory provisions in the Czech Republic, the People's Democratic Republic of Algeria or the Slovak Republic.
4. If any payment under this Agreement is due on a date which is not a bank day, it will be made on the following bank day.
5. All payments under this Agreement will be made in US dollars (USD).
Article V
Interest on late payments
1. If the Algerian Government fails to pay any instalment as specified in Article IV (1) within 30 days of the due date, interest shall be charged on the outstanding amount from the due date to the date of actual payment.
2. Interest on late payments will be calculated as 2% (two percent) per annum of the amount of a specific instalment due and will be paid as part of the next periodic instalment, in any case no later than six (6) months after the last periodic instalment, the amount of which will be confirmed between the Contracting Parties.
Article VI
Notifications
All notifications relating to this Agreement shall be in writing and shall be signed and delivered either in person or by registered mail to the addressee's hands at the addresses listed below:
For the Czech Government:
MONITORING
Department of International Relations
Address: Letenská 15, Prague 1, Czech Republic
For the Government of Algeria:
MONITORING
Directorate-General for Treasury and Accounting Management of State Financial Operations.
Address: Cité Malki, Ahmed FRANCE Building, Ben Aknoun, Algiers, Algeria.
For the Slovak Government:
MONITORING
Section Specific Legal Affairs
Address: Štefanovičova 2968 / 5, 811 04 Bratislava, Slovak Republic
Article VII
General provisions
1. No Contracting Party may transfer or otherwise transfer (through participation or otherwise) part or all of its rights or delegate part or all of its obligations under this Agreement without the prior written consent of the other Contracting Parties. Any alleged assignment or delegation lacking such consent will be void.
2. The entry into force of this Agreement will terminate the Loan Agreement in relations between the Czech Republic and the People's Democratic Republic of Algeria.
3. The Algerian Government hereby confirms the remaining Slovak asset of two million four hundred forty-nine thousand three hundred seventy-five US dollars and sixty-three cents (USD 2,449 375,63) held in a separate account in the Bank of Algeria. The Algerian Government and the Slovak Government will resolve issues relating to the Slovak asset held in the Bank of Algeria register through bilateral negotiations.
Article VIII
Dispute settlement
Any dispute which may arise under this Agreement in the light of its interpretation, application or implementation shall be settled by amicable means and consultations or negotiations between the Parties by diplomatic means and shall not be submitted to any national court or tribunal.
Article IX
Efficacy and termination
This Agreement shall enter into force on the date of its signature by the Contracting Parties.
This Agreement shall remain in force until full repayment of the amount settled in accordance with its provisions.
Article X
Appendices
This Agreement may be supplemented by mutual agreement of the Contracting Parties, in writing and through diplomatic channels. Such additions shall enter into force in accordance with the same procedure as regards the entry into force of this Agreement.
Done at Algiers, 22 September 2024, in three original copies in English.
Government Czech Republic Government Republic of Algeria Government Slovak Republic Jan CZERNÝAli BOUHARAOUAMarek EŠTOKAmbassador of the Czech Republic in the Algerian Democratic and People's Republic General Director of the External Economic and Financial Relations Section of the Ministry of Finance of the State Secretary of the Ministry of Foreign Affairs and European Affairs
Annex
Payroll Calendar
Maturity date / USDRemaining amount at start of period Payroll Calendar Remaining amount at end of period Česká kapě Slovenská kapí Total Česká kapě Slovenská kapí Total Česká part Slovenská partmátel30. 20246 878 275,683 439 137,8410 317 413,521 146 379,28573 189,641 719 568,925 731 896,402 865 948,208 597 844,6031 March 20255 731 896,402 865 948,208 597 844,601 146 379,28573 189,641 719 568,924 585 517,122 292 758,566 878 275,6830 September 20254 585 517,122 292 758,566 878 275,681 146 379,28573 189,641 719 568,923 439 137,841 719 568,925 158 706,7631 March 20263 439 137,841 568,925
Příloha č. 2
Annex No 2
Text of the international contract in the relevant language
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Regulation Information
| Citation | Communication from the Ministry of Foreign Affairs No. 461 / 2025 Coll., declaring the Agreement between the Government of the Democratic Republic of Algeria and the Government of the Czech Republic and the Government of the Slovak Republic on Financial Affairs |
|---|---|
| Regulation Type | International Treaty |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 12.11.2025 |
|---|---|
| Effective from | 22.09.2024 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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