Communication from the Ministry of Foreign Affairs No. 47 / 1996 Coll.
Communication from the Ministry of Foreign Affairs on the negotiation of the Agreement between the Government of the Czech Republic and the Government of the Slovak Republic on the further procedure for settling the balance of clearing accounts and the balance of claims and liabilities of entities of both Republics after the expiry of the Payment Agreement between the Czech Republic and the Slovak Republic of 4 February 1993
Valid
International Treaty
Effective from 14.12.1995
Text versions:
29.02.1996
47
COMMUNICATION
Ministry of Foreign Affairs
The Ministry of Foreign Affairs states that on 14 December 1995, the Agreement between the Government of the Czech Republic and the Government of the Slovak Republic on the further procedure for settling the balance of clearing accounts and the balance of claims and liabilities of the entities of the two Republics was signed in Brno after the expiry of the Payment Agreement between the Czech Republic and the Slovak Republic of 4 February 1993.
The Agreement has entered into force on the date of signature on the basis of Article 6 thereof.
The Czech version of the Agreement is hereby published at the same time.
AGREEMENT
between
by the Government of the Czech Republic and the Government of the Slovak Republic
on the further procedure for settling the balance of clearing accounts and the balance of claims
and commitments of entities of both Republics after the expiry of the Payment Agreement
between the Czech Republic and the Slovak Republic of 4 February 1993
Following the termination of the Payment Agreement between the Czech Republic and the Slovak Republic of 4 February 1993 (hereinafter referred to as the "Payment Agreement '), the Czech Republic's Government and the Slovak Republic's Government (hereinafter referred to as" the Parties') agreed as follows:
1. After the expiry of the Payment Agreement on 30 September 1995, the balance of clearing accounts held by the Czech National Bank and Národná banka Slovenska declared 154,5 million clearing ECU (1 clearing ECU = 1 ECU) in favour of the Slovak Republic. The marginal credit of ECU 130 million (Article 6 of the Payment Agreement) was exceeded by ECU 24,5 million by the Czech Party. The excess of the marginal loan, including interest under the Payment Agreement, was settled by the Czech National Bank on the instruction of the Ministry of Finance of the Czech Republic on 2 October 1995 and paid the Slovak party USD 19.6 million and DEM 17.5 million.
2. The debt balance of the clearing accounts held by the national banks of the two Republics, consisting of a marginal credit value of ECU 130 million and an interest rate of 5% p.a. (à 365 days) of this principal (Article 6 of the Payment Agreement), calculated from 1 October 1995, shall be settled by the Czech Party as follows:
(a) 3 / 4 of the balance of clearing accounts, corresponding to the value of ECU 97,5 million, and the total value of interest (5% (a)) on drawing a marginal loan (ECU 130 million), shall be paid by the Czech Party to the Slovak Party in freely convertible currencies within 15 days of the date of signature of this Agreement by the Czech National Bank in Prague to the account of the Slovak National Bank in Bratislava.
In the event of failure to comply with this deadline, at the end of that period, 3 / 4 of the balance of clearing accounts corresponding to ECU 97,5 million and the value of interest still calculated at 5% p.a. on the value of the marginal credit (ECU 130 million) shall be remunerated at 10% p.a.
(b) 1 / 4 of the balance of clearing accounts, corresponding to the value of ECU 32,5 million, including interest of 5% per annum, calculated from the date of issue of the order to open this account by the Ministry of Finance of the Czech Republic to the Czechoslovak Commercial Bank, a. s., Prague to the date of its real establishment, will transfer the Czech Party in Czech crowns within 15 days of the date of signature of this agreement to the property account opened in the Czechoslovak Commercial Bank, a. s., Prague to the benefit of the Slovak Party, in the name of the National Bank of Slovakia. The funds in this account will be intended to cover mutually agreed goods of Czech origin supplied to the Slovak Party (paragraph 3). This account will be held within the meaning of the normal commercial terms of the Czechoslovak Commercial Bank, a. s., Prague and will be remunerated under mutual agreement of the Czechoslovak Commercial Bank, a. s., Prague and the National Bank of Slovakia, Bratislava at an individual interest rate set above the standard tariff of the Czechoslovak Commercial Bank, a. s., Prague.
The equivalent in CZK constituting the balance on this account and not exceeding the consideration of ECU 1,625 million (according to the exchange rate of CZK at ECU at the date of transfer of the value of 1 / 4 of the balance of clearing accounts to this property account) will be paid in cash to the Slovak party, under the order of the National Bank of Slovakia.
The supply and collection of goods under the Indicative instrument of goods (paragraph 3) shall be settled by 31 December 1996, unless otherwise agreed by the Contracting Parties.
3. The indicative instrument of goods containing the agreed items of goods to be paid by the Czech Party under paragraph 2 (b) of this Article shall form an integral part of this Agreement. This instrument of worship may be amended or supplemented only by written agreement of the Ministries of Finance of the Parties.
4. The Contracting Parties shall take the necessary steps to ensure that operators of the two Contracting Parties conclude individual contracts to ensure the supply and removal of goods pursuant to paragraph 2 (b) and paragraph 3 of this Article by 31 December 1995.
5. The Czech Commercial Bank, a.s., Prague and Národná banka Slovenska, Bratislava, are hereby entrusted with the conduct of banking operations related to the management of the property account and bank operations providing payment for the goods delivered pursuant to paragraph 2 (b) and paragraph 3 of this Article.
6. The Ministry of Finance of the Czech Republic and the Czechoslovak Commercial Bank, a. s., Prague and the Ministry of Finance of the Slovak Republic and the National Bank of Slovakia shall conclude agreements on the provision of banking operations within the meaning of Article 1 (5), which shall include the obligation to inform the banks on a monthly basis of the implementation of payments linked to the goods supplied or collected, or of other relevant facts and the obligation to consult the Finance Ministers of any discrepancies found from the Indicative Goods List.
1. The Contracting Parties agree to ensure that, following the Payment Agreement, the same arrangements are made for the accounting of claims and liabilities arising before 8 February 1993 and not paid up until 30 September 1995 between Czech and Slovak legal and natural persons - entrepreneurs.
2. Claims and liabilities between Czech and Slovak legal persons and natural persons - entrepreneurs established after 8 February 1993 and held in their accounts in national currencies and in clearing ecus which have not been paid up to 30 September 1995 will be settled in the agreed freely convertible currency (incl. CZK and Sk) at a rate of 1 clearing ECU = 1 ECU.
The Ministry of Finance of the Czech Republic and the Ministry of Finance of the Slovak Republic, whose competence is to implement this Agreement, will ensure effective supervision of its implementation and will, in cooperation, resolve any disputes arising from its implementation.
This Agreement shall expire on the date of settlement of the claims and liabilities referred to in Article 2, unless otherwise agreed by the Parties.
This Agreement may be amended or supplemented only by written agreement between the Parties.
This Agreement shall enter into force on the date of its signature.
Dane in Brno on 14 December 1995 in two original copies, each in the Czech and Slovak languages, the two texts being equally authentic.
For the Government of the Czech Republic:
Ing. Ivan Kočárník CSc. v. r.
Deputy Prime Minister and Minister for Finance
For the Government of the Slovak Republic:
Ing. Sergei Kozlík v. r.
Deputy Prime Minister and Minister for Finance
INDICTION OF GOODS SHEET
| P. č. | Resort | Druh |
|---|---|---|
| 1 | Města Bratislava, Prešov, Košice, Žilina | Autobusy Karosa C 734, Vysoké Mýto |
| 2 | Ministerstvo hospodářství SR | Zařízení pro jadernou energetiku ŠKODA, Plzeň |
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Regulation Information
| Citation | Communication from the Ministry of Foreign Affairs No. 47 / 1996 Coll., on the negotiation of the Agreement between the Government of the Czech Republic and the Government of the Slovak Republic on the further procedure for settling the balance of clearing accounts and the balance of claims and liabilities of entities of both Republics after the expiry of the Payment Agreement between the Czech Republic and the Slovak Republic of 4 February 1993 |
|---|---|
| Regulation Type | International Treaty |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 29.02.1996 |
|---|---|
| Effective from | 14.12.1995 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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