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Tekst Notawisseling tussen de Nederlandse en de Amerikaanse Regering betreffende de verplichtingen, welke voortvloeien uit het gebruik van credit-saldo toegewezen aan Nederland binnen de voorwaarden van artikel 10 van de Overeenkomst tot instelling van een Europese Betalings Unie van 19 september 1950

AMERICAN EMBASSY

No. 158

The Hague, October 6, 1950.

Excellency:

I have the honor to refer to the conversations which have recently taken place between representatives of our two Governments relating to the obligations arising from the utilization of credit balances allotted to the Netherlands within the terms of Article 10 of the Agreement on the Establishment of a European Payments Union of September 19, 1950.

1. To the extent that the agent designated by Article 18 of the Agreement on the Establishment of a European Payments Union utilizes credit balances allotted to the Netherlands, the Government of the Netherlands will, upon notification by the Government of the United States of America, deposit commensurate amounts of guilders in the special local currency account established under Article IV of the Economic Cooperation Agreement between the Netherlands and the United States of America.

2. The amount of guilders deposited pursuant to the preceding paragraph shall not be reduced should the credit balance of the Netherlands be reconstituted pursuant to Article 10(e) of the Agreement on the Establishment of a European Payments Union. To the extent that the agent utilizes reconstituted balances in respect of which deposits have previously been made, no additional deposits of guilders shall be required.

3. For purposes of deposits in the special local currency account such amount of the credit balance allotted to the Netherlands as has not been utilized prior to July 1, 1951 shall be considered as utilized during the European Payments Union accounting period beginning July 1, 1951.

4. The amounts of local currency to be deposited with respect to each accounting period should be equivalent to the United States dollar value of the credit balances utilized with respect to such accounting period as communicated to the Government of the United States of America by the agent. For the purpose of the foregoing, the dollar value of the European Payments Union unit of account shall be that existing on the last day of the accounting period. The rate of exchange governing the computation of amounts of local currency deemed equivalent to the United States dollar value of credit balances utilized shall be the same as that governing deposits made in accordance with Article IV of the Economic Cooperation Agreement between the Netherlands and the United States of America. The time of notification, relevant for purposes of determining the rate of exchange governing deposits of local currency, shall in each case be deemed to be the date of the last day of the accounting period, covered by the notification with respect to which the credit balances have been utilized.

5. Deposits of local currency made pursuant to this exchange of notes shall be held and governed in accordance with all the terms and conditions applicable to deposits made pursuant to Article IV of the Economic Cooperation Agreement between the Netherlands and the United States of America.

6. It is understood that obligations to deposit local currency in accordance with this exchange of notes apply only in the case of credit balances utilized to which no obligations of repayment attach.

Please accept, Excellency, the renewed assurances of my highest consideration.

(s.) ROBERT COE

Chargé d'Affaires, a.i.

His Excellency Dr. D. U. STIKKER,

Royal Netherlands Minister for Foreign Affairs,

The Hague.

Regeling
Notawisseling tussen de Nederlandse en de Amerikaanse Regering betreffende de verplichtingen, welke voortvloeien uit het gebruik van credit-saldo toegewezen aan Nederland binnen de voorwaarden van artikel 10 van de Overeenkomst tot instelling van een Europese Betalings Unie van 19 september 1950
Soort
Verdrag
Geldend vanaf
07-10-1950
BWB-id
BWBV0005702
Versie
1950-10-07_0

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