Decree No. 54 / 1947 Coll.
Order imposing provisional application of the Trade and Payment Agreement between the Republic of Czechoslovakia and the Republic of Turkey, signed at Ankara on 5 December 1946
Valid
Effective from 15.12.1946
54.
Government Decree
of 31 January 1947
on the provisional application of the Trade and Payment Agreement between the Republic of Czechoslovakia and the Republic of Turkey, signed in Ankara on 5 December 1946.
With the agreement of the President of the Republic, the Trade and Payment Agreement between the Republic of Czechoslovakia and the Republic of Turkey signed in Ankara on 5 December 1946, together with the attached Verbals and the Addendum to the Modem Vivendi between Czechoslovakia and Turkey of 30 April 1936, shall be entered into force in accordance with Article 1 of the Act of 4 July 1923, No 158 Coll., on the provisional arrangements for trade relations with abroad, with effect from 15 December 1946.
Dr Zenkl v. r.
Acting Deputy Prime Minister.
(Translation)
Trade Agreement
between Czechoslovakia and Turkey.
The Czechoslovak Government and the Turkish Government, wishing to develop the exchange of goods and facilitate payment between the two states, agreed on the following provisions on the basis of the modus vivendi, signed between Czechoslovakia and Turkey on 30 April 1934, which was reactivated by a trade and payment agreement between the two countries of 22 June 1945:
The exchange of goods between Czechoslovakia and Turkey will take place according to the general rules applicable in both countries for import and export.
The method of payment resulting from transactions approved during the period of validity of this Agreement by the competent authorities of the two States shall be adjusted in accordance with the provisions of the payment agreement negotiated today.
From the date on which this Agreement enters into force, goods sent by either Party shall be accompanied by a certificate of origin, in accordance with the model attached, issued by the competent authorities of the exporting State.
A certificate of origin shall not be required for consignments whose value does not exceed 100 pounds or their corresponding value in another currency.
The transactions, approved by the competent authorities of the two States under the provisions of the Agreement signed on 7 June 1946 and the attached letter concerning supplies of the Czechoslovak heavy industry, will be disposed of under contracts negotiated between importers and exporters of the two States.
Compensatory private transactions, as well as free-exchange transactions, which began before this Agreement came into force, shall be disposed of in accordance with the general rules applicable in each of the two States at the time those transactions were approved by the competent authorities concerned.
The transactions, approved by the competent authorities of both States at the time of application of this Agreement and not completed before their expiry, shall be disposed of in accordance with the general rules applicable in each of the two States at the time when the transactions were approved.
In order to develop economic relations between the two States and to submit proposals of all kinds to facilitate them, a Joint Commission will be set up, composed of representatives of the Czechoslovak and Turkish States, meeting at the request of the competent authorities of the two States.
This Agreement shall enter into force on 15 December 1946 and shall remain in force until 1 April 1948.
If it is not terminated two months before the date on which it expires, it shall be deemed to have been extended until 31 March 1949.
Made in Ankara, in two specimens, in French, on 5 December 1946.
For the Government of Czechoslovakia:
_
For the Government of Turkey:
B. SANUS v. r.
CERTIFICATE OF ORIGIN OF GOODS
(Translation)
Payment agreement
between Czechoslovakia and Turkey.
In order to facilitate payment between Czechoslovakia and Turkey, the Czechoslovak Government and the Turkish Government agreed as follows:
Reimbursement of the consideration for Turkish goods imported or intended for import into Czechoslovakia under the terms of the trade agreement signed today, as well as all other payments from Czechoslovakia to Turkey authorised under the current Czechoslovak Foreign Control Act, will take place on an account denominated in Czechoslovak under the name of the Central Bank of the Republic of Turkey opened with the Czechoslovak National Bank, on which no interest will be credited.
Reimbursement of consideration for Czechoslovak goods imported or intended for import into Turkey under the terms of the trade agreement signed today, as well as any other remuneration from Turkey to Czechoslovakia authorised under the applicable Turkish foreign exchange control laws, shall take place on the account referred to in Article I.
In order to make payments to beneficiaries in accordance with the provisions of the previous Articles, the Central Bank of the Republic of Turkey and the National Bank of Czechoslovakia will send payment orders to each other immediately on a case-by-case basis.
If the credit balance of the account referred to in Article I would not be sufficient to cover the needs of the Central Bank of the Republic of Turkey in Czechoslovak crowns, the National Bank of Czechoslovakia will make the payments according to the orders of the Central Bank of the Republic of Turkey to the top of that account up to 150 000 000 Kčs.
In the event that the amount referred to in Article IV is not sufficient to meet the needs of the Central Bank of the Republic of Turkey, it will have the right to supplement this account by transferring to the National Bank of Czechoslovak gold, dollars, Swiss francs, or, in agreement between the two banks, any other value that the National Bank of Czechoslovakia would accept, according to the central official conversion rate of these Valutes in Prague on the day of the transfer.
The Central Bank of the Republic of Turkey shall execute payment orders issued by the Czechoslovak National Bank if the credit balance of the account referred to in Article I does not exceed CZK 150,000,000 for the benefit of the Central Bank of the Republic of Turkey.
In the event that the amount referred to in Article VI is not sufficient to meet the needs of the Czechoslovak National Bank, the latter shall have the right to transfer to the account referred to in Article I. The Central Bank of the Republic of Turkey gold, dollars, Swiss francs, or, in agreement between the two banks, any other value that the Central Bank of the Republic of Turkey would have received, according to the central official conversion rate of these Valutes in Prague on the day of the transfer.
If the value of the Czechoslovak crown is changed in proportion to the gold, the credit or debit balance of the account referred to in Article I shall be adjusted by the National Bank of Czechoslovakia accordingly to the change that occurred, depending on the status of the change.
The conversion of Czechoslovak crowns into Turkish pounds and Turkish pounds into Czechoslovak crowns will be carried out according to the middle official rate of the US dollar, recorded by the National Bank of Czechoslovakia and the middle official rate of the US dollar, recorded by the Central Bank of Turkey.
In the event that the trade agreement signed today would not be renewed without amendment or with amendments, the remuneration resulting from transactions approved by the competent authorities of the two countries during the period of validity of this Agreement shall be made in accordance with the provisions of the following Articles.
If the account referred to in Article I above is held for good after six months from the date on which this Agreement expires, the Czechoslovak National Bank shall transfer this balance to gold, dollars, Swiss francs or, in agreement between the two banks, any other value that the Central Bank of the Republic of Turkey would have accepted, according to the central official course of these Valutes in Prague on the day of the transfer. The balance of this account shall be transferred to a liquidation account denominated in the Czechoslovak crowns referred to in Article XIII.
If, after six months following the date on which this Agreement ceases to apply, the account referred to in Article I above is to be charged, the Central Bank of the Republic of Turkey shall transfer the balance up to the amount of CZK 75,000,000 to gold, dollars, Swiss francs or, in agreement between the two banks, to any other value that the Czechoslovak National Bank would have accepted, according to the central official course of these Valutes in Prague on the day of the transfer. The balance of this account shall be transferred to a liquidation account denominated in the Czechoslovak crowns referred to in Article XIII.
After six months following the date on which this Agreement expires, the Czechoslovak National Bank will open an account in its books - pursuant to Articles XI and XII. in the name of the Central Bank of the Republic of Turkey, denominated in the Czechoslovak Crown, on which interest will not be credited and which will be designated as a liquidation account.
(a) The credit or debit balance of the account referred to in Article I shall be transferred to this liquidation account, which shall be closed in the manner specified in Article XI and Article XII.
(b) The salaries to be paid by Turkish or Czechoslovak debtors after the expiry of the above six months under contracts concluded during the period of validity of this Agreement shall be paid to the beneficiaries from a liquidation account.
(c) The consideration of Turkish and Czechoslovak exports, which will be made after the top six months, will also be offset from the liquidation account.
(d) The non-liquidated balance of the liquidation account shall be paid by the debtor party at the end of each annual period up to CZK 75,000.000 in gold, dollars, Swiss francs or, in agreement with both banks, in any other currency that would be accepted by either the Central Bank of the Republic of Turkey or the National Bank of Czechoslovakia, according to the central official course of these Valutes in Prague on the day of the transfer. The balance of this account shall be settled in the same manner as provided for in this Article until the total loss of mutual debts arising from contracts concluded during the period of validity of this Agreement.
(e) In order to pay the beneficiaries, it is agreed that both banks will send their respective payment orders immediately on a case-by-case basis.
This Agreement shall enter into force on the same day and shall remain in force for the same period as the trade agreement signed today.
Made in Ankara in two specimens, French version, on 5 December 1946.
For the Government of Czechoslovakia:
_
For the Government of Turkey:
B. SANUS v. r.
(Translation)
Ankara, 5 December 1946.
Mr. Chairman,
I have the honor You are notified that for the purposes of Article VIII of the Payment Agreement, signed today, the value of the Czechoslovak Crown in proportion to gold, calculated according to
1st official middle course: 50 CZK = $1,
2. And according to the price of $35 an ounce paid by the U.S. Treasury, the Kès is 56.263.77 per kg of pure gold.
Please accept, Mr President, the assurance of my deepest respect.
_
Mr
Burhan Zihni Sanus,
Chairman of the Economic and Financial Agreements Committee of the Ministry of Foreign Affairs,
Ankara.
(Translation)
Ankara, 5 December 1946.
Mr. Ambassador,
I have the honour to acknowledge receipt of your letter of 5 December 1946 as follows:
"I have the honour to inform you that for the purposes of Article VIII of the Payment Agreement, signed today, the value of the Czechoslovak Crown in proportion to gold, calculated according to
1st official middle course: 50 CZK = $1,
2. And according to the price of $35 an ounce, paid by the US Treasury, the Kès is 56.263.77 per kg of pure gold.
Please accept, Mr President, the assurance of my deepest respect. "
I have the honor I will inform you that my government agrees with what has been mentioned above.
Please accept, Ambassador, the assurance of my deepest respect.
B. SANUS v. r.
His Excellency
Mr Stanislav Minovský
Ambassador, Chairman of the Czechoslovak Trade Delegation,
Ankara.
(Translation)
Appendix
to the modem vivendi between Czechoslovakia and Turkey of 30 April 1934.
Both the Czechoslovak and Turkish Governments agreed to repeal paragraph III of the modem vivendi of 30 April 1934, signed between the two countries.
This Protocol shall form an integral part of the above mentioned modem vivendi.
Made in Ankara, in two specimens, in French, on 5 December 1946.
For the Government of Czechoslovakia:
_
For the Government of Turkey:
B. SANUS v. r.
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Regulation Information
| Citation | Decree No. 54 / 1947 Coll., providing for the provisional application of the Trade and Payment Agreement between the Republic of Czechoslovakia and the Republic of Turkey, signed in Ankara on 5 December 1946 |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 16.04.1947 |
|---|---|
| Effective from | 15.12.1946 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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