Decree of the Minister for Foreign Affairs No. 51 / 1970 Coll.
Decree of the Minister for Foreign Affairs on the Long-term Payment Agreement between the Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran
Valid
Effective from 01.07.1969
51
DECLARATION
Minister for Foreign Affairs
of 9 February 1970
on a long-term payment agreement between the Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran
On 12 March 1969, the Long-Term Payment Agreement between the Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran was signed in Tehran.
In accordance with Article 12 thereof, the Agreement was approved by both governments. Pursuant to Article 11 (2) of the Agreement, the Agreement shall apply from 1 July 1969.
The Czech translation of the Agreement is announced simultaneously.
Minister:
Ing. Marko v. r.
LONG-TERM PAYMENT AGREEMENT
between the Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran
The Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran, referring to Article 5 of the Long-term Trade Agreement, signed today between the two countries, have agreed as follows:
Salaries between natural or legal persons residing in the Czechoslovak Socialist Republic and natural or legal persons residing in Iran, as referred to in Article 4 below, shall be made within the framework of this Agreement and according to the rules applicable in the country concerned.
(1) Salaries between the Czechoslovak Socialist Republic and Iran will be made from the Czechoslovak side of the Czechoslovak Commercial Bank, a. s., Prague, and from the Iranian side of Bank Markazi Iran, Tehran.
(2) Bank Markazi Iran, Tehran, acting on behalf of the Imperial Government of Iran, will open an account in the name of the Czechoslovak Commercial Bank, a. s., Prague, an account in US dollars (unit of account) entitled "Clearing Account of the Czechoslovak Commercial Bank, a. s., Prague."
(3) Czechoslovak Commercial Bank, a. s., Prague, acting on behalf of the Government of the Czechoslovak Socialist Republic, will open in its books the name of Bank Markazi Iran, Tehran, an account in US dollars (unit of account) called "Clearing Account Bank Markazi Iran, Tehran."
These accounts will not be remunerated and will be conducted without bank charges.
(4) In favour of the "Clearing Account of Bank Markazi Iran, Tehran," amounts to be credited to the remuneration of natural and legal persons based in Czechoslovakia for the benefit of natural and legal persons residing in Iran, and the amounts of payment orders received and executed by the Czechoslovak Commercial Bank, a. s., Prague, will be credited to its liability.
(5) In favour of the "Clearing Account of the Czechoslovak Commercial Bank, a. s., Prague," the amounts to be credited to the remuneration of natural and legal persons residing in Iran for the benefit of natural and legal persons residing in Czechoslovakia will be the amounts of payment orders received and executed by Bank Markazi Iran, Tehran.
(1) Czechoslovak Commercial Bank, a. s., Prague, and Bank Markazi Iran, Tehran, will immediately communicate to each other all salaries made under this Agreement.
(2) The payments to beneficiaries shall be made by both banks in the order of payment orders received and within the accounts balances referred to in Article 2, taking into account the technical credit referred to in Article 5 below.
The following salaries shall be regarded as salaries under this Agreement:
1. Salaries relating to the exchange of goods under the Long-term Trade Agreement, signed today between the two countries, including expenses related thereto, such as:
transport expenses of all kinds, storage expenses, goods control costs, customs costs, port charges, commissions, interest and bank charges, advance payments, commercial agents, advertising expenses, transit sales, installation costs and charges related to entry into service, etc.
2. Premiums and indemnities for insurance and reinsurance claims to the extent that the relevant contracts allow payment in US dollars (unit of account).
3. Periodic balancing between postal, telegraph, telephone and radio administrations.
4. Reimbursement of services, study, travel, maintenance and subsistence expenses and hospital expenses.
5. Wages, pensions, support, rewards and fees.
6. Fees and receipts from patents and licences, trademarks, copyright and films.
7. Subscriptions of magazines, periodicals and newspapers.
8. Taxes, taxis, fees, fines and legal expenses.
9. Expenses of diplomatic representation and expenses incurred for other official purposes.
10. Expenses associated with exhibitions and fairs.
11. Expenditure related to scientific and technical cooperation, training courses and expert broadcasting.
12. Revenue of artists and athletes.
13. Other salaries agreed by both banks.
To ensure the continuity of salaries between the two countries under this Agreement, the Czechoslovak Commercial Bank, a. s., Prague, and Bank Markazi Iran, Tehran, shall grant each other a technical loan of up to $2,500,000 (the unit of account) on the accounts referred to in Article 2 above.
If the balance exceeds the technical credit, the two parties shall agree on the necessary measures to cover this delay by supplying goods within three months.
If the transaction is not settled within three months, the debtor party shall pay, at the request of the creditor party, within 14 days of the date of such request, the amount of the transaction in US dollars or other mutually acceptable currency.
However, the creditor party shall make a favourable assessment of the debtor party's application for a special credit, provided that such an application is submitted within the aforementioned three-month period.
Tenders, contracts, accounts and payment orders under the provisions of the Long-term Trade Agreement as well as this Agreement shall be expressed only in US dollars (unit of account).
Czechoslovak Commercial Bank, a. s., Prague, and Bank Markazi Iran, Tehran, agree on the technical implementation of this Agreement.
Upon expiry of this Agreement, clearing accounts shall remain open for a period of 6 months in order to allow the debtor party to settle the balance by exporting goods to a creditor party whose authorities issue the relevant import authorisation, provided that such authorisations are required by applicable laws and regulations in the country concerned.
If, at the end of this six-month period, the clearing accounts still show a balance, the debtor party will be obliged to settle it immediately at the request of the creditor party in US dollars or in any other free currency agreed upon by both parties.
Transactions which remain outstanding after the expiry of the above deadline of 6 months shall be settled in the usual manner in accordance with the provisions in force on the date of payment.
Balances recognised on 30 June 1969 in the accounts referred to in Article 2 Payment agreements between the Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran, signed on 29 January 1966, shall be transferred to the new clearing accounts referred to in Article 2 of this Agreement.
Salaries of contracts concluded within the framework Agreements signed on 29 January 1966, not settled before the date of entry into force of this Agreement, shall be implemented through the accounts referred to in Article 2 of this Agreement.
This Agreement forms an integral part of the Long-term Trade Agreement between the Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran signed today.
This Agreement shall replace the Agreement between the Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran of 29 January 1966 as from 1 July 1969.
This Agreement shall be concluded for a period of 5 years, shall be implemented from 1 July 1969 and shall apply until 30 June 1974. It shall be automatically extended from year to year after that period unless one of the two parties denies or requests a new agreement in writing 3 months before the end of the year in question.
This Agreement shall enter into force upon approval by both governments.
Done at Tehran, 12 March 1969, in two original copies in English, the two texts being equally authentic.
For the Government of Czechoslovakia
Socialist Republic:
Ján Tabacek v. r.
For the Imperial Government of Iran:
A. N. Alikhani v. r.
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Regulation Information
| Citation | Decree of the Ministry of Foreign Affairs No. 51 / 1970 Coll., on the Long-term Payment Agreement between the Government of the Czechoslovak Socialist Republic and the Imperial Government of Iran |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 27.05.1970 |
|---|---|
| Effective from | 01.07.1969 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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