Decree of the Minister for Foreign Affairs No. 54 / 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 Union of Soviet Socialist Republics on the use of national currencies in settlement in the context of direct relations between associations, undertakings and organizations of the CSSR and in the establishment and operation of joint Czechoslovak-Soviet associations, enterprises and organisations
Valid
Effective from 02.03.1988
54
DECLARATION
Minister for Foreign Affairs
of 25 March 1988
on the Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Union of Soviet Socialist Republics 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 USSR, as well as the establishment and operation of joint Czechoslovak-Soviet associations, enterprises and organisations
On 2 March 1988, an Agreement was signed in Moscow between the Government of the Czechoslovak Socialist Republic and the Government of the Union of Soviet Socialist Republics on the use of national currencies in settlement in the context of direct relations between the associations, undertakings and organizations of the CSSR and the USSR, as well as the establishment and operation of joint Czechoslovak-Soviet associations, enterprises and organisations. The Agreement entered into force on the date of signature of 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 Union of Soviet Socialist Republics on the use of national currencies in settlement in direct relations between associations, enterprises and organizations of the CSSR and in the establishment and operation of joint Czechoslovak-Soviet associations, enterprises and organisations
The Government of the Czechoslovak Socialist Republic and the Government of the Union of Soviet Socialist Republics (hereinafter referred to as the "Parties'), based on the" Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Union of Soviet Socialist Republics on direct production and scientific and technical relations between the associations, undertakings and organisations of the CSSR and the "Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Confederation of Soviet Socialist Republics on the fundamental principles of the creation and operation of joint undertakings, international associations and organisations' signed on 4 November 1986 (hereinafter referred to as" the Agreements of 4 November 1986 '), with a view to promote the development of these progressive forms of economic and scientific and technological cooperation by the Member States of the RVP to 2000',
they have agreed as follows:
The arrangements for settlement between associations, undertakings and organisations (hereinafter referred to as "organisations') of the CSSR and the USSR in the implementation of the agreements of 4 November 1986, which are based on the use of transferable rubles in accordance with the Agreement on multilateral settlement in transferable rubles and establishing the 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 Contracting Parties.
The accounts and payments in the national currency of the States of the Contracting Parties may be made by CSSR and the USSR, which have concluded a direct relationship agreement between them, or are implementing an agreement establishing a joint Czechoslovak-Soviet enterprise, an international association, or an organisation.
Decisions on the use in settlement between the cooperating CSSR organisations and the USSR of the national currencies of the Contracting Parties in the implementation of the agreements of 4 November 1986 shall be taken by those organisations by mutual agreement.
The accounting for supplies of goods and services provided under direct relations shall be made in the national currency of the State of the Contracting Party whose organisation supplies the goods or services. For joint ventures, international associations and organisations, transfers of funds not linked to the supply of goods and services shall be made in the agreed national currency of the States of the Contracting Parties.
The settlement of operations under this Agreement shall take place through the Czechoslovak Commercial Bank, a. s. and the Bank for Foreign Economic Activities of the USSR. Those banks negotiate the terms and conditions for clearing and keeping accounts in national currencies for direct relations, as well as the way in which the balance is remunerated and settled.
The Parties shall guarantee the free sale of the relevant currency by the CSSR and the USSR organisations making payments in national currency under this Agreement on the basis of the conversion rates referred to in Article 7 of this Agreement.
The conversion rates resulting from the Agreement on the introduction of mutually agreed exchange rates or coefficients of national currencies in relation to the collective currency (transferable rouble) and between them of 19 October 1973 and supplementing them with contractual documents (currently 100 Soviet rubles - 1040 crowns of Czechoslovak) are used for the reciprocal conversions between the Czechoslovak krone and the Czechoslovak currency. If necessary, the competent authorities of the CSSR and the USSR may agree to use other mutually agreed rates (coefficients).
In the event of the creation of a long-term active balance of one of the Contracting Parties, the competent authorities shall agree on the method of settlement, taking into account the achievement of the overall balance of settlement in national currencies.
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 the date of signature. 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.
In Moscow, on 2 March 1988, in two original copies, each in the Czech and Russian languages, the two texts being equally authentic.
For the Government
Czechoslovak Socialist Republic:
Jaromir Žák v. r.
For the Government
The Union of Soviet Socialist Republics:
Boris Ivanovich Gostev v. r.
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Decree of the Ministry of Foreign Affairs No. 54 / 1988 Coll., on the Agreement between the Government of the Czechoslovak Socialist Republic and the Government of the Union of Soviet Socialist Republics on the use of national currencies in settlement in the context of direct relations between associations, undertakings and organizations of the CSSR and the creation and operation of joint Czechoslovak-Soviet associations, enterprises and organisations |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 20.04.1988 |
|---|---|
| Effective from | 02.03.1988 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0