Common use of Currency Transfers Clause in Contracts

Currency Transfers. (1) Currency transfers according to art. 4, 5 and 6 will be carried out without delay, in convertible currency in which the investment was made or in any other freely convertible currency, if so agreed, at the exchange rate in force at the date of transfer. (2) Without delay, within the meaning of paragraph 1, are considered the transfers that are made within a period that is normally required for the preparation of the transfer formalities. The term runs from the day on which it was submitted to the competent authorities, in the proper way, the application together with the necessary documents and must not, in any case, exceed a period of 2 months.

Appears in 7 contracts

Samples: Investment Promotion and Protection Agreement, Investment Promotion and Protection Agreement, Investment Protection Agreement

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Currency Transfers. (1) Currency . The currency transfers according to art. provided for in Articles 4, 5 and 6 will above shall be carried out made freely and without delay, delay in the convertible currency in which the capital investment was made made, or in any other freely convertible currency, if so agreed, currency at the official exchange rate in force at effect on the date of the transfer. (2) Without delay, within the meaning of paragraph 1, . Transfers are considered the transfers that understood to be without delay if they are made within a period that is normally required for the preparation of necessary to complete the transfer formalities. The term runs time limit shall run from the day on which it was the request for transfer accompanied by the necessary documents has been submitted to the competent authorities, authorities in the proper way, the application together with the necessary documents and must not, manner prescribed by law. This time limit shall in any case, no case exceed a period of 2 two months.

Appears in 1 contract

Samples: Agreement on the Mutual Promotion and Guarantee of Capital Investment

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