Common use of Transfer Payments Clause in Contracts

Transfer Payments. 1. Each Contracting Party shall guarantee to investors of the other Contracting Party, after fulfillment of all tax obligations, free transfer abroad of payments related to their investments, and in particular: a) the initial capital and additional capital used to maintain or expand investments; b) income; c) funds in repayment of loans and credits recognized by both Contracting Parties as investments, as well as the accrued interest; d) funds received in connection with the partial or total liquidation or sale of investments; e) compensation, compensation or other forms of settlement provided for in Articles 5 and 6 of this Agreement; About salaries and other remuneration received by individuals of one Contracting Party who are allowed to work in the territory of the other Contracting Party in connection with the investments. 2. The payments referred to in paragraph 1 of this Article shall be freely transferable in any freely convertible currency at the option of the investor at the market exchange rate applicable at the conversion date. Transfers of such payments in freely convertible currency must be resolved without delay. 3. Transactions referred to in paragraph 2 of this Article shall be made in accordance with the law of the Contracting Party in whose territory the investments were made.