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The agreement between the Government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic on debt repayment formed as a result of trade and economic relations for 1992-1993 (before transition to calculations for correspondent accounts)

of October 2, 2009

The government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic which further are referred to as with the Parties

proceeding from need of settlement of debt obligations and requirements for 1992-1993 (before transition to calculations for correspondent accounts)

according to the protocol of the first meeting of the intergovernmental commission between the Republic of Kazakhstan and the Azerbaijan Republic of October 22, 1999, agreed as follows:

Article 1

1. The Azerbaijani Side recognizes the debt to the Kazakhstan Side formed as a result of trade and economic relations for 1992-1993 (before transition to calculations for correspondent accounts).

2. The parties determined, outstanding amount of the Azerbaijan Republic before the Government of the Republic of Kazakhstan in the amount of 16900000 (sixteen million nine hundred thousand) US dollars.

Article 2

1. The Azerbaijani Side settles outstanding amount in the amount of 16900000 (sixteen million nine hundred thousand) US dollars during the period from January 1, 2010 to December 31, 2011.

2. Payments in repayment of outstanding amount are made by equal semi-annual shares in the amount of 1/4 outstanding amounts according to appendix 1 to this agreement.

3. Dates of payments in repayment of outstanding amount are determined on the (fifteenth) of June 15 and on the (fifteenth) of November 15 the corresponding year.

The Azerbaijani Side shall make the first payment in repayment of outstanding amount on June 15, 2010.

4. The Azerbaijani Side has the right to extinguish ahead of schedule outstanding amount in coordination with the Kazakhstan Side.

Article 3

1. The payment which is not made in time, specified in Item 3 of Article 2 of this agreement is considered overdue payment.

2. On the amount of overdue payments penalty interests for each day of delay of payments on fixed rate 4 (four) annual interest rates at the rate of 360 days in year are charged.

3. Aggregate term on charge of penalty interests is reckoned from the date following date of payments on debt and comes to an end with date of the actual debt repayment.

Article 4

1. Payments in debt repayment, charge and payment of penalty interests are made by the Azerbaijani Side in US dollars into the account of the Kazakhstan Side according to appendix 2 to this agreement.

2. Date of accomplishment of payment receipt date of the amount into the account according to Item 1 of Article 4 of this agreement is considered.

3. If this or that payment under this agreement on terms matches with day which is not the working day in the territories of the states of the Parties, such payment is made in the next working day.

Article 5

Provisions of this agreement do not affect the rights and obligations of the Parties following from other international treaties which participants are their states.

Article 6

1. In case of disputes and disagreements in case of interpretation or application of provisions of this agreement, the Parties will resolve them by negotiations.

2. If dispute settlement cannot be achieved according to the procedure, stipulated in Item 1 this Article, the Party can appeal to the Arbitration Court of "ad hoc" established according to arbitral rules of the United Nations Commission on the international trade law (UNCITRAL).

Article 7

By mutual consent of the Parties changes and additions which are drawn up by separate protocols can be made to this agreement and are integral parts of this agreement.

Article 8

1. This agreement becomes effective from the date of receipt through diplomatic channels of the last written notice of accomplishment of the interstate procedures by the Parties necessary for its introduction in force.

2. This agreement stops the action from the date of full implementation of the obligations by the Parties under this agreement.

It is made in the city of Baku on October 2, 2009 in two authentic copies everyone in the Kazakh, Azerbaijani and Russian languages, and all texts are equally authoritative.

In case of disagreements in case of interpretation of provisions of this agreement, the Parties will address to the text in Russian.

 

For the Government

Republic of Kazakhstan

For the Government

Azerbaijan Republic

Appendix 1

to the Agreement between the Government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic on debt repayment formed as a result of trade and economic relations for 1992-1993 (before transition to calculations for correspondent accounts)

Outstanding amount 16900000

Beginning of repayment on June 15, 2010

The last repayment date on November 15, 2011

Number of payments only 4

in US dollars

+--------------------------------------------------------------------+
¦         Дата          ¦     Сумма долга     ¦   Погашение долга    ¦
+-----------------------+---------------------+----------------------¦
¦     15 июня 2010 г    ¦      16900000       ¦        4225000       ¦
+-----------------------+---------------------+----------------------¦
¦     15 ноября 2010 г  ¦      12675000       ¦        4225000       ¦
+-----------------------+---------------------+----------------------¦
¦     15 июня 2011 г.   ¦      8450000        ¦        4225000       ¦
+-----------------------+---------------------+----------------------¦
¦     15 ноября 2011 г. ¦      4225000        ¦        4225000       ¦
+-----------------------+---------------------+----------------------¦
¦ИТОГО                  ¦                     ¦             16900000 ¦
+--------------------------------------------------------------------+

Appendix 2

to the Agreement between the Government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic on debt repayment formed as a result of trade and economic relations for 1992-1993 (before transition to calculations for correspondent accounts)

Details of National Bank of the Republic of Kazakhstan for transfer of money in foreign currency for current accounts of Committee of treasury of the Ministry of Finance of the Republic of Kazakhstan:

Bank name: National Bank of Republic of Kazakhstan

SWIFT code: NBRKKZKX

Account number: USD 001073140

Banks intermediaries

+--------------------------------------------------------------------+
¦     Валюта         ¦SWIFT код¦      Наименование      ¦ Номер счета¦
¦                    ¦         ¦  банка-корреспондента  ¦            ¦
+-------------

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