Selanjutnya

.. ,_ ti ...

ｬＺｇｩｬＮｓｉｾｾｮｅｎｔ＠ da to cl December 23, '197 6

b ct. v,r c en

ｎｾｴＺｦＱｩｬｦＩｻＱＧｩ･＠

ln;"i).-,INing<.bank

voor

ＰＬＱｬ｜｜ＧＱｫｾＮＰ Ｚ ＱｴＱＱＹ ＧＬＺ＠ 111d1

fN

'lo ｾｌＧｨ･＠ Go1ternment of the Hepublio of Indom:sin, llcrcinaf t0 r cal.led

t!IJo:rrower"

a.nd

2a

De Nederland se Investeringabank vbor ｏｮｴｷｩｫｫ･ｬｩｮｾｯｬ｡ｮ､･ｮ＠

N.V. ,

<)s t ablinhed

a.t

'i'h.o: Hague, 'l'he Netherlands, hereinafter called

11_{the Bank}11

;

The Government of the Kingctom of The Netherlands offered b y its letter

dated Ju ly 12, 19';6 to the Gove rnment of tho Hepublic o J' Indones.ia - whicl1

offer wn s accepted on September 13, 1976 - to make available to Borrower loan up to an amount u f Hfl. 125.000.0DO,-- (011e hundred 8nd twenty-five million ｎ･ｴｨ･ｾｬ｡ｮｴｬｳ＠ Guilder s) for tl1e financing of ｳｰｾ ｣ｩ ｦｩ｣＠ projects of 1;:bich :.o .. tentative ·l i s t is a:nnaxecl to th e said lette r· of the GoYernmen t o.

tho Kingdom of 'I'he lfothcr'hu1ds.

'l'iie Bank i.o ｰｲｻｾｰ｡ｲ･､＠ to gre..nt to BorroHer the aforementioned loan up to

ｵｾｯｵｮｴ＠ of Efl. 125.000.000,-- (onA hun J red and twenty- fi ve million

Netherlands guilders) • .

NOW lT IS HETIFnW A.CF:EED AS FOLLOWS:

The ｄｾｮｫ＠ shall extend to Borrouer and Borrower shall accept fr om the Bank

D. lo0n t1p to an 1:ur,ount of Hf1. 125.000.000,-- (m1e hundred B.nd hrenty-fivt.: reillion Netherlande ｾｬｬ､･ｲｳＩ＠ on the terms and conditions set forth in the followi ng article s.

Article 1 ..

(1) As from the date the loan agreement will become eff e ctive in ｾ｣｣ｯｲﾭ

dance with nrticle

26

of the loan DBreement, the amount of tho 10an ·sha ll ｢ｾ＠ put at the disposa l of Borrower with obcerva nc e of the

ｾｲｴｩ｣ｬ･･＠ of the loan agr eement.

The drawings under the loan shall be charged to a Project Loan Account Indo nes ia ＱＹＷＶｾ＠

No disbuisementa

Ghall

be

allowed after

December 31, 1980 unless otherwise ｡ｧｲｾ･､＠ upon.

Article 2o

Bo:n.'ower shall .pay on the outstanding amom1 t of the ｬｯ｡ｲｾ＠ a rate of

'• J." l ") '/ "1 I L' d t\. ' '

J.nterect 0.1. !· ｾ＠ ｾＧＡ＠ t /:.• \ 1.. our an -· r1ree-quar ter per cent J per annum, which interest .shall accrue from the respective dates of dr aw ing.

'l'he 1.nterc[-;t on th e loan

shall.

be dt:.e and payable semi-annually on January 31 Rnd

July

31 of ea ch year.

Ar·tj cle ＭＭｓｾ＠

ｾ＠.... , ... ...,_ .. ,

____

_. . ..:;,._.

( 1) The loan diD.11 be LJ;ed by Bor-':·owP.r for the ｦｩｮｮｮ｣ｩｮｾ＠ of projcctt; men -·

tioncd in or to be ad:led· to the lJr:;t of projcctG 1".nnc::-:cd to !:he Jetter

d a tc,, d tI ｾ､＠ y ·; ? 1 'l ') ? C. o f t h; G o v e r n ｲＮｾ＠ .-:; :·: t o I t lrn K.:i. ｲｱ ［ｾ ､＠ om of '1

1 _he

N c t h c r -·

la11ds to ｄｯｾﾷﾷｲｯ｜ ﾷＯｬｾｲ｣＠ Ahou.t tltr! fi11r:-..ncing of e.:t c11 r;pccific project out.

of the l oen n,tr,r eement has to be i·enclw d by the J.ndone:d.nn Nation al Plnnni n[\ Bo11nl ( ｨ･ｲ｣ＺｩＱ ｾＺ ｴ＠ ftcr ca} led 11_{Bappen:', '3) nnd the· Netherland :;}

F:n·-b2 ｳｾｹ＠ in J nkRrto. The Netherlands Ministry of Foreign Affair s wi ll

ｩｾＡｾｾｭ＠

the Bnnk on the transacticns

ＺｨｾＺｾＧ＠

ｮＺＺｾＬ･ＺＺｶＺｾｮＺＺＺｾｾ､＠

Ｍｯｾｴ＠

r

tie

ｾＬ＠

/ ) Ｑ

ｶｾ＠

ｾＮＭ ＢＮｩＬｾＬ｟ｾＬＮＢＮｉＮﾷ＠ ,, .. ｾ＠ ''.';.

ｾﾷ＠

.

lz.JJ.

·;· ·-.... _. .-..

'

·.

2

ｎ･＼ｬﾷＺｲｴ＼ｭｾｯ＠

lnvesl1.':i,-,gsu<lf1k

voor

ＨＩＡＱｴｷｩｦ｜ｫｾＧｮＹＧＮ｢ｙｫ＠

NV

(2) Wherevor used in t:Ois ｮｧｲＧＮｈｾｲｮﾣＬｮｴＬ＠ the term 11_{goor16 11 shal 1}

m1:,cm good.:; nnd

serviceo and the tonn "supp1i0r" 1:>hall men.n ourplier of i:;oodG or

ｅ ＳＱｾ ｮｲＺｬＮ｣･ｲＺＺ［ＮＬ＠

(.3) Wherever ｵｳｾ､＠ :l.n th:l.s agreonient, the term Ｂ｣ｾｬｩｧｩ｢ｬ｣＠ so1n'ce countryH shD.11 meun one of the countriHB other than 'J.'he .Ne the r1DncL:, ｭ･ｾＱｴｩｯｮ･､＠

in the arrangoment(c) concerned1 "if and when made, b(-•twel.:r1 ｄｯｲｾﾷｯｷ･ｲﾭ srnd tho ｇｯｶ･［ Ｎｾｮｮ ｩ･ｮｴ＠ of 1

rhe Kingdor:i of 'I'he tfethcrlands, by virtue of which o.rrangement(n) goods to be finu.nced out of t:1e l.oan C·'Hl ｢ｾ＠

pur-chased in thes e countries.

/\ rt i c J e l; "

., .... ., ... -... ｾＮＭﾷ＠ ...

-When Borrower decides t o draw any amount on the lonn, Borrow01· Fhall request such a ､ｲ ｾｷｩｮｧ＠ by sending the Bank a written requ est as

men-tioned in ar t icle

7

1 article

8,

article

9,

nrticle 12, ｡ｲｴｩｾｬ･ﾷ＠ 13 or o.rticle 111 of thirJ P.greerr.cnt o.ceompanied by

o.

copy of the pt1

rchaF;c-｣ｯｾｴｲ｡｣ｴ＠ c o ncern ed.

Wh en Borrower decides9 i n or de r to ensure the implementation o f a

pro-ject 1 t o drnw for use i.n Indonesia any amount on the loan for the

financi n g of this project before the purchase-contract(s) hnving beLn conclud e d, ｂｯｲｲｯｾ･ｲ＠ shall request such a drawing by sending the Bank

e written request as mentioned in article Ｑｾ＠ of this Agre eme rit.

The drawings on the loan shall be made.either

(a) tluough e.n m:i.dcrt1::king to reimburse a bank in The Netherl1u1.dc Hhich is authorized by a lHi.ni1: in the country of Borrower t .o pay the Nether lands

supplier under H lPtter of cred:i.t again.st stipulated docur.1ent.-,, the

:f'o:cmcr bank hereinafter refe r red Ｍｾｯ＠ a.s the "Nether lends payine ｢｡ｮｬｾｩｴＮ＠

An undortaking to reimburse will be considered to be a drawing on the

loan on the date of r eim bursement

or

( b)

in

cuses in which such a mot hod of pn.yment i5 more a<leq'rn tc - by

direct p ayment by the Bank ｴｾ＠ the accoun t of the Netherlands srippJ.icr

with

a

bank in The Netherlnnds

or

(c) by reimbursement to Borrower of ｴｨｾ＠ payments made by pur chasers in the country (Jf Do1·rcwer t o the suppliers in The Netherlandn

or

(d) by direct payment by the Bnnk to the account of the Netherlands

sup-p!.:i er \·d.th t', ba1ik in 'I'he Netherlands, upon ｲＮＺＺＭ ｱ ＱｊｾＺＺ［ｴ＠ of the Rij1.sin-·

koopburev.u at 'l'hc Hag-uo ｾ＠ here i naitor called "H.I.B.11

1 in the cases

for which n.I.Be j s entitled i;o d r aw on the lonn.

The Bank slw1l exnmiu.e each ;;i.ppl:i.ca.tion on the t.er mn c<nd conditions of this ngreE:mcnt and hs.ving found the ｡ｰｰｬｩ｣ｾ､［ｩｯｮ＠ in order, shall inform Borrower c:f :its ｡ｰｰ ｲ ｯｶ｡ｬｾ＠

P.:J:.iJ.s.

Lf'. ...

z ·

( ·1 ) ln Hw crHH) of n:ct::ic:i.e

5

(cub a) the Bnnk shall und er tn ko h? re-· irnbun;c the r!eU1erJands payine; bank nfter receipt of a wri ttcn request of Borrower for such nn undortaking together with R copy

of U,e ｲ･ｬ｡ｴｩｶ･ｾ＠ letter of c ;.'edlt. \

- (?) T!H:l roquefit .imrli(>s \ , /

. ｾＬＮＮＮＭＭＭＮ＠ _{_,,,/ .,.__ ,v} . / /_!

Af?-5 /

.

"

. .

( c:_)

·''

( 3)

( I+ )

3

-"?Ve ｾＮＺｴ＠ e<ic\·;.:ID..\.'lk

\.'J()f

O• Ｚｴｷ ｩｫｬｾｬｩｮ ｧ＼［ｬ［Ｉｦｬｯﾷ＠

IN

-The request i mplieo the unc ond it ional and irrevocablo n utho ri za tion

f rom Borrower t o m3.k e the paym e nt purfrn.0 nt to th o undertak :i. ne to the Netherland s paying b ank i n duo ti me .

The am ou n t o f the commi t men t by ｾｨ ･＠ Bank shall i n a l l c ircumstances be axpreased ; n Netherlands currency.

Upon re c ei pt of a statemen t of the Netherland s paying bank tha t the

documents con cerne d h ave been fo und in accordance with the terms and c ondi tion s of the letter o f cr ed i t and have bcien delivered to

:I. t 1 t he B<mk sha ll be d:i sc hnr ged by Borrower by t h e rc:i.mbu r.:;emcn t

wit hout acceptin g any respons i bilit y for the documents bein g in order or hav ine been deliv e red to the Nat herland s p a yin g bank.

(5) Th o Bank is fu rt hcrmor q irr evoc ably authorized to ext end the curre nc y of a:n uncJ.ert.n kin e an me n tioned upon rcce' pt of a ｲｾｴ｡ ｴ･ﾭ

ｭＰｾｮ ｴ＠ ·of the rJc th e rla nds pa y ing bank that the currenc.)' of t h e un d er-l ying er-le tter of credit has be en duer-ly extended.

lri the case of article

5

(sub b) the B3nk shall make the dire ct ｾ｡ｹｭ｣ｮｴ＠

co nc0 rn s d in Ne th erland s guilders in f avou r of the NGtherlands aup pl ier

up on r eceip t of a wri tten re qu e st thereto from Borr ow er for the res pec

t-ive payment, definin g specificn l ly thp am ou nt t o be paid , tho n ame and ad d res s o f the fi rm to \·Jh:i. ch tho amount has t u be po.id ;;,nd th e

purchar.:e-contrac t concerne d.

In the ｣｡ｾ［ ｣＠ of n rti cle

5

(sub c) ｴｬｾＮ･＠ Ban k sh D- 1 1 :rc imbur1:>c Borr01·1e r in ··

Ncthcrlanda·guild era

through t he in t ermediary cf an authorized bank i n

The Netherlnnd s for the paymen t s me a nt in article

5

(sub c) in The

NethGrln11ds a f t e r receipt cf a "'1Titten re quest there t o from Borro we:i',

. the suppl:i.t=!r2 _{s receip t , t he certifi cate o f payment from th e bank m?J-ld ng}

the payment and a copy of the pdrchaso-contract.

Article 10.

(1) In the ca se o f ar t i cle

5

(sub d) ｒｾｉＮｂＮ＠ is entitled to exercis e

on b eha J.f of :!:ndo ncsi o. the right to rna.ke drawings for a sped.f ie projec t i n accord an ce with the loan agr eement on the basis o f a Let t e:· of ａ ｵ ｴ ｨｯ ｲｩｶｾＮｴｩｯ ｮ＠ as mentioned in parograph Ｈ ＲＩＺ］ＮｩＮｾ＠ of th.is article. When making draw i ngs in this respect , R . I .B. shall bi n d

ｉｮ､ｯｮ･ｾ､ＮｯＮ＠ full y ';o any e.m0unt ｲｾｮｬ＠ 1 .. u E.•.n.y l·t.•t<f"::'Ct on tld s s ubject.

(2) a •. Vhen iGauing a Letter o f ａｵｴｨｯｲｩｾ｡ｴｩｯｮ＠ i n fuvcur o f R.I.D. to

place the order( s) concerned, BappPnas shall ari nd th rou g h t he Finuncial and Ec onomJ. c

De ve lopment

Co-operatio 11 De partment of

t he Nethel'J.aLds MinifJtry ·o f Foreipn Affairs tw o ccpies

of

the Letter of Author i z ation t o ｒｾｉＮ ｅ ｾ＠ and to the Dunk resp cct ivelyo 'l'he ·Letter of Authorization cohnlJ. lHl ndd resncd b oth to H.,IoP.$ o.nd tci t h o Ba.nk n n d toth c opies 1:;ha l l b e duly ｳｩｲ［Ｑｈｾ｣ｬｯ＠ ln the J"ct ter of l\.;.itLor i z.r:ttion B10tp;:ic nan shal l requent the Bnnk to reserve ｴ ｨｾ＠ nmount mentioned th erei n on the loa n f or disb urse-me nt o n ｲ ･ｱｵ｣ｾｳｴ＠ of ｒｾｉＮｊＳＬＬ＠ to the supplier. (s) concerned,..,

- b. ｂｮｰｰ･ｮｾｳ＠ is obliged

. ·1 . :.·" \" ·. ｾＮＺｾ Ｚ＠

ｬｾ＠ ...

Do

ｎ･Ｚ､ｲ ｾ ､ｾｮＭＺｬｲＬ･＠

ｬｮｶ･ｾＧＡ［Ｚ＠ r;n, ＱｳＮＮＺｮｾＱｫ＠

voor

ｏｮｴｷＱＡＭｫ｣ｨＱＬｾﾷＮＮｬ［ｋＱ､｣＠

IN

b .. Bapponas i r:; obJigod. to fm:·n ish .to the Bank. in Hr.itin1; sufficient

ev i dence o f authority of its representative or roproacntatives

｡ｾｴｨｯｲｩｺ ･､＠ to sign

the

duplicate copy of a letter of ａｵｴ ｬＱｯｲ ｩｾ｡ｴｩｯｮ＠

as menti on ed in para graph (2)a. of this article. Moreo v er ,

Bappen!UJ shal l furnish to tl1e. Bank the cpecimen sir.;natu re o f

each su<::h per.sCJ:1.. 'l.'heso author i zations roma:i.n in force until

tho Bani: ha s been informed by Bappena s :ln wd.tin1; thc-t they have been con.e e l L1d ｾ＠

( 3 ) After having ｲﾷｯ｣･ｩｶﾷＺｾ､＠ from Bapponos Ei. dup l :i.cnte copy of s. Letter of

Authorizntion in favour o f R.I. B. as mentioned in piraG ra ph (2 )a.

of this ｅ ｩＮｲｴ ｩ｣ ｬＮｾＱ＠ tl1o Bank sh all test the applicclt:i on made the r ein on t he ternu3 a11d conditions of thin J.oan nt;reement a ncl ha ving _fcJuna

t he applicnt i on in order Rhall inform Bappenas and

R.I .B.

i n cR se o f approval i n writing that t he reservat io n concerned has been. made. Tbe Dank sha l l send a copy of its approval to Bank Iri.don ec i a in order to enable tho latter to opc0 a Letter o f Credit wiL h re s p8nt

tc t he order(s) concerned i n favour of R.I.B. with t he Bank.

(4)

When R.I.B. ､･｣ｩ､･ｾ＠ t o draw any amount on the lou11 for disburse

-ments for goo ds , f re ight or insurance ｵｮ ､ ｾ ｲ＠ a raaerva t ion ｡ｾ＠ men-ti oned hereabove, ｒＮｉ｣ｂｾ＠ shall app ly for such disbursement by cen-ding the Dank 4 written re quest. Th is request chal l specifically define tho a mount expreas ed in Nether l a nds gu ild er3, the name anrl address of the firm ( s ) to which th e amount has to be paid, t he mm1ner of pa yme n t and i.n s o fa:c :i. t concern .s the payme nt of goods , the relevant ord er(s ) .

( 5)

Tho Bank Ghnll only effectua te a written r equest ns mentioned in

paragraph

( 4 )

if the Bank has rece ived a Letter of Credit as men-tioned in paragraph

(3},

and

if

the Bank hns r ece:i.ved the docu-· 'm ent(s) ｭ･ｮ ｴｩ ｯｾ･､＠ in the relevant ｌ･ｴｴｾｲ＠ of Credit and any

amend-ment thereon together with a written confirmation from R.I.B. stating tha t all the terms and conditions of the relevant Letter

of Credit (:l.nclusi.ve nny a mendment thereon) o.re complied with. · I f t h9 Le tter of Credit in the form mentioned in paragraph

(7)

( 6)

o f this article will not have been opened with the Bank before the

d ate of reception by the Bank of the r elevant written request men-t ioned in paragraph

(4),

the Bank shall be entitled to make the

payment concerned without th e relevant Ldtter of Credit against

receipt of the ·documents concernod, if nny available. The BD.:tk

ｾｨｵｬｬ＠ send ｾ＠ copy of each Letter of Credit (i nclusive any

amend-ment

thereo11)

ｾ･｣･ｩｶ･､＠ fro m Bank lndonesia to R.I. B. The Bank ahall inform

R.I.B.

of the effeatuaLion

or

･｡ｾｨ＠ payment

rnnde

by

the B1Jnk ·0.ndo r the loan .

In the case that R.I. B. want s to make (a n) amendment(s) on a

Lotter of Credit received by the Bank from Bank Indonesia, R.l.B. shall submi t to the Bank a re.quest for euch e.mend.men t (s ). '£he

ｂ｡ｮｬﾷｾ＠ dwll scmd a copy of lD.st mentioned reque s t to Rank Indone:3i n

in o r der' to enable the l a tter to amend the J,,etter of C!:·ed.it as

requested by H,.I.IL.

(?) ｬＧｾ｡｣ｨ＠ Letter of Grodi t ···

\

\

l

IL

/l

!&!J 1wwwm: .. m u a e . s

5

zc ｾＮｫﾷ､･ｩｬＮｈｋｴｪＮｐ＠

ｬｭｾｳｴ｣ｲｩｮｧ ［ ＡｸｩＺＭｩｫ＠

VO'Jf

ｏｮｴ｡ｩｬＬｫｾＡ ｩ ｱｲｬ［ＱＱＱ､＠

NI/

(7)

Each Lotter of Credit must contain a clauca authorizing H.I.B.

to make all the amendments and arrangein en ts in the · relevu n L Letter of Grodi t and the eventua l amendments thereon necess:1ry for the

proper execution of the ordcr(s) concerned for the caGe that an

ｮｭ･ｮ､ｭ･ｾｴ＠ and/or arrangement in .t he relevant Letter o f Creuit wi ll

not have b een received by t he Bank from Dank Indonesia before the

d1:tt{1 of r ec eption by the Bank of the relevant 1:ri ttcn request

mcntJ.oned in paragraph (4)? in order t o enable ｒ Ｎｉ ｾｂＮ＠ to alter the releva nt Letter of Credit in conformity with th e ｲ･｡ｾ･ｳｴ＠

there-to of P ol.Bo us menti on e d in paragraph (6). Furthermore ｾ｡｣ｬｴ＠ Lett.;)r

of Credit sh alJ. contai n a clai.u=; e st:i.ting tlw.t pny mcnt undr?r the rel evan t Let ter of Credit shall only tnke plRce ofter receipt of a

rcque.st fr om

n.I .u.

1:w mcnt:i oned in para.e;ra.ph Ur) and thnt

GtJ. ch

ｰｯＮｹｭＮｾＺｯＮｴ＠ shall only be ma.de in fl. manner a.13 rnentioncJ in said reqncsi.:.

nnd also

afte r recGipt from

H.I.B a

of the

written

ccnfirmntio n

mentioned in'parugraph

(5).

.

The Bank sh all inform Bunk Indonesia of each amendment or a ltera-ti on nmdo b :; .R .. I.B. in any .J,etter of Credit.

(8) The Bank is not responsible for the conb:olling of the documents

ｩｮｾ ｬｵｳｩｶ･＠ the written confirmation mentioned in paragraph

(5) .

Th8 Bank shall send all the documents inclusive tha written con-firmation of the ｒＮｉＮｂｾ＠ as mentioned in paragraph

(5),

receiveci from

R.lo B.,

to Bank Indonesia ｴｯｧ･ｴｨｾｲ＠ with a schedule of

remit-tru.1cc about the rele van t payment· made by the Bsnk on request of

ｒｾｌｂｑ＠

Article :1-1 •

.,.._,_,,.'".,,.,..,_, _ _..·v-,,,_,,,., •. ..., .... .,, ...

In the caao that arrangoment(s) es mentioned in pRragra ph

(3)

of urtic :e

3

are rnad\7 between Borrower and the Government of the

Kingdom of ｾｨ･＠ Nctlic r lands by virtue of which arrangement(a) goods to

be financod out of the loan can be pu rch ased in a n eligible source country (not includjng Indonesia since payments to suppliers in this · c ountry \'Jil l be made in accordance with article 11+ below), the dra:winss

on the loan shall be made - such tontrary to article

5 -

ｾｩｴｨ･ｲ＠

D.) through an underto.king to :reimburse a b ank in the c ouetry of Bo:::·· r owor which lw.s o.uthori zed a bank in an eligible Gource country

to pay the supplier in.tha t country under a letter of credit against

etipulnted documents, the fo r mer ｢ｾｮｫ＠ hereinafter ref e rred t o as the

· 11o pen:i.:ng bo.:ukn; ::;.n d the 1attcr ｢ｲｾＮｮｫ＠ her eina fter referred to a.s the

11_{pe.y:i.:ne ｢ｴＮｮｫＢｾ＠ An undertrdd. ng to re::i.mburE:e wi ll be concidered to}

b0 E1. · dracdng . o n the loan on th.:: da te of reimbnr.c:icment

o r

b) by, reimbursement to BorroNer of the payments made by purcha.scrs in

the country of Borrower to t h e suppliers o:f the goodf> in an eligible r:; ource country

, or

c) in anotlier wny to

oo

ngrrJed upon l.Jct\/con I3orrcr11e r and tlrn B.:tnk .

- Artie.l e ·12

•. 6

ＺＮ｜ＮｲＮｾＮｴｩＺｾＮｾｾＮＺＱＮｳ＠ ｾ＠

l.le

Mc'<Je;bn.:l:::-0

Ａｮｶ･ｳｴＮｾｲｩｮ｣Ｎ｝ＺＮ＾｢｡ｮｫ＠

W)()f

011l wikkeli11gslnnc

NV

(1) In tlw ca."w of artiG1•3 'l'l (oub a) the Bank shall undertD.l';e to ro··

i mburoo the opening bank after receipt of tl1e written request of Borrower for such an undn rtaking together wi th a copy of the rcJ_n-tive lo tter of credit.

( 2) ;l1b e r:,:q'.rn st imp1 i eG the

nncondi

t ional and :i_ rre·;oca ble o.u

thor:i.

zn. \:ion

of

Durrowar

to mako the payment

02rsua nt

to the undertaking to tho

oponing bank or to the paying bank if the opening bank will request

t he Bnnk 13uch method of payment as the case may occur ..

(3)

The Bank ahall take the appropriate mensuros to cover if possibJe \:.he exclw.ngc ri_[;k between tho Nctherle,nds currency and the foreic;n cu1Tcncy in which payment under Urn letter of credit hci fl to be

per-formed, at

th a

time

of

accepting

tha

undertaking to roimburso in conformity wi th the foregoing paragraphs nntl to hold the e x chnng e riak cov e red ·subsequeutly, being tho exchange risk in all

circUm-stan8es for a ccount and risk of Borrower.

(4) Tho costs of thG coverage mentioned in the precedinG paragraph ore

for the ac:.:;ount oi' .Borrower ttnc\ th •3 Biu1k iF.l herowi th irre v·ocably a:.ithor:tz.ed by Bo:'.t'O\rer to d raw on the loan for the pci.yment of thes1;;l costs.,.

( ,1) ) Th·;o: Bank slw.11 :reimburse the opening bank or the paying bsnk ns the

ca ao rnuy be. Ｒ｡ｾ｡ｧｲ｡ｰｨ｡＠

(4)

and

(5) 6f

article

7

nre applicable mu te.tis ｭｵｴ｡ｮ､ｬＺＧＮ＾ｾ＠

(6)

In oo far as the proviaionsi mentioned in

this

article, call ｦｯｲｾ＠

further clD.bo.r·ation in n Dpcc:i.fic case, l)<::rties ::;hall ngr":le thereoa ..

Article 13.-. - - - · - · -... ｾﾷﾷＮ＾＠ , .. .,._,..,,.,,.. ...

....;-In the case of er ticln 11 (sub b) the Bank

shall

reimburse Borrower

in.

ｎ｣ｴｬｶｾｲＱ｡ｮ､ｳ＠ 'gu:Ud er;:: through the intermed:i.rn:y of an authorized be.nk

in 'rhe Netherlnndc for the pay ments me a nt 5.n article 1 ·: (sub b) c.0.fter roceipt of the

written

ｲ･ｾ ｵ･ｳｴ＠ theteto from Borrower, tho supplier's ·recc :i.pt, the ccr ti fi cute o.f payrr!cnt fr-or:i the b.;:u1k making the payment

and a co py of the ｰｵｲ｣ｨ｡｣･Ｍ｣ｯｮｴｲ｡｣ｴｾ＠

Art:1.cl0 ·j li- • ... .,. ... ｾＭ ... ,... ... , .... .

In the cnse. th:_i ＰＱＵＮｧｩＮｾｬｯ＠ ｲ［ｯ［ｮＺﾷ｣ｴｾ＠ country in uccordunce with article 11 (sub a) is lndonosia anJ puyrnont has to be made to a supplier in

ｉｮ､ｯｮ･ｳｩｾ _Ｑ＠ ｂｯｲｲｯｷ｡ｾ＠ shall request the Bank to pny the said supplier

by c ending the Bank n request thereto accompanied by a copy of the

£;up:plier1 _{o. invoice d11J..;1 approved by ｂｯｲｲｏ｜ｾ･Ｚｲ＠ and a copy of the pu;:chs}

se-contract concorned.

Art:i.c1c ＱＵ ｾ＠ .. _._._ ... -.. - ... Ｌｾｾ＠ .... ,.-. .. t"---... ｾＮ＠

In the case of parci.graph 2 of Artic1ir; lt, the Bnnk sha ll ymy to Borrov1t:r

the nmount concerned after receipt of tl1e written reque6t thereto from

Borrower· 9 ､･ｦｩｮｩｮｾ＠ spoci fically to which project the funds concerned are

der;tin·ad nnd_defin:i.ng t>.f.1 rmcJ.i as ｰｯｳｾｮＮｴｵ･＠ the lrne Hhicn i .s to be r1.9.dc of

the ｳｲＺＺＱｩ｣Ｚｾ＠ ｦｾＱＮｮ､ｾ［ﾢ＠

ArticJ.e: 1().

(1) The loan shall be rcpayAble in twenty-three consecutive annual

in-stn1me nto, U1e first of which shall bo duo ｮ ｲｾＺ Ｍ ｬ＠ p[lya.ble on ttrn l ast dny o _\." the n:l.ncty·-s:Ld:h calende.r month a.ftcr the date :first above written and so on.

"' (2) Tho

ｾ ﾷ ＺﾷＧ＠ .. ｾＭﾷ Ｇ ＢＧ＠ .; ;'' .,., ..-; ·,--ﾷﾷＱｮＮﾷ Ｎ ｾ＠ ·"'"''

ｾ ﾷ＠

.• 7

-. ( 2) rJ'he firGt rcpn;ymcnt ,d.th respect to the 1om1 will orr.01..mL to

Hfl,. Ｚ｟ＩＬＩ［ＲＩＱｾＮＬｬｩｏｏＬＭﾷＭ (fi·.:0 million four hundred and thirty··four

thonr.:;.si.nd. fou.1' hurnlred Nether1e.nds guilders) o.nd the follO\d.ni;

... ｾ＠ ... " " ' ' ... ＧＮＮＮＮＮＮＮＺＺＺ＾ＧＭｾ＠

ｬｮｶ･Ｆｴ･ ｲｩｲＱ ｾＡａａＮＱＺ｜ｉＮＨ＠ \'()()I'

0: ;: wikl,.elirxrl 11 :d,-lt

IN

onei:; to 11 f}.

5

ｾｨＳｬｦ＠ ｾ＠ 800, .,,_ ( fi 1re rn:l.llion four hJ.mdred and thirty-four

thou.ci:..nd eight hun dre d Netherlancis gui lclerc;) ･｡｣ｨｾ＠

Art:lcle 1'7.

__

... ,.._ .. __.

__

.___ .. _ .. ,. .._

In cace Borr ower fails to pay interest on the respective d110 date,

tho nmount unpaid will be i.nc:ree.sed by a corr.pensation eq :1;1 l to

nineteen forty··lLi..ght h of one per cent ( 19/ii[l,

?1; )

per calende,r month as l ong as the failure

continues -

a part of a month to

count

as

u. full month .

In ca ae Borr owe r fnils to ｰ･ｲｦｯｾｭ＠ any of its obligationa under this agreeme nt and/or any other lonn agreement between Dorrower and the Bank, Borrow er shBll no longer be entitled to dra\1 on th e lo a n and the outstunding amount under this a greement and any other l ou n agroemont betweon Borrower nnd the Bank shall be due and ccllect-uble at once upon ｾｯｴｩｦｩ｣｡ｴｩｯｮ＠ in writing of the failure and the said amount plu c interest and compensation chall be paid by Borrower to the Bank for thwith . H ovrnver, n.s far as the t hen prcvaiJ.:i. ng cir-.

｣ｵｭｾｴ｡ｮ｣･ｳ＠ nt the discretion of the Bank wi.11

permit,

the Bunk shalJ.

grant the opportunity to Borrower to fulfil its ｯ｢ｬｩｧｾｴｩｯｮｳ＠ within

a term of

at

most sixty

､｡ｹｳｾ＠

(1) ·All payments received by the Bank will be applied

in

the ｦｯｬｬ ｯｷｩｾｧ＠

order:

a .. t () :payrncnt of eon1pel1Ba.t i on;

｢ｾ＠ t;o

payment of

COGtSj

c.,

to

payment of

interest;

､ｾ＠

to

ｰＱｾｹｭ･ｮｴ＠ of the

outstand:i.11g

amount of the loan,

provide d that in the above order earlier matured

debts

will

ｲ｡ｮｾ＠

above later matured onesQ

. (2) All payments by Borrower to the Dank must be made in Netherlands

cu.1TGncy in tho account of the Bank with ｄｲＮｾ＠ Neder-landsche Bank No 'l. _a t Amaterdnm, without uny reduction or set-off.

(3)

Thia ｮｧｲ･･ｭ｡ｮｾ＠ shall be free from any taxes (including duties, fees

6r

ｩｾｰｯｳｩｴｩｵｮｳｽ＠ that shall be imposed under the laws of Borrower or

lawG in effect in its territories on

ｯｾ＠

in

connGction

with the

execution of tho ac;reernent. or the performance thereof by the Bank .

ＨｌｾＩ＠ All rny rnen tc of :intcreG t ::i.nd :cedempt:i on ard all other 1ny1r,ents to be made by Borro ·,,1c:r blw.ll be .rnac!e w:\.thoui; deduction for, and free from c.ny ｌｵｸｾ［ﾷｯ＠ (i ncJ.ud:Ln.g dut:ies.1 fees and imponitioi.ln) thnt c;hall

be ｩｭｰｯｾ｣､＠ under tl 1c ｬｯｾｯ＠ of Borrower or Jaws in effect in ilG

territories and free from all restrictions impoacd under the lows of Borrower or lawn in effect in its territories.

'•

\\ .

\,

I

Ｏ［Ｍｾｊ＠

/

"l, •· ( I

8

Ｈｽｾ＠

ｍ･＼ｬ＼＾ｲｴｾｮ､ｳ｣＠

ｬｭ･ｳ［｣ＮｾｩｲＱ＾［ﾷｊｊ Ｚ Ｑｲｬｫ＠

VOOI

ｏｮｬｷｩｨｦｾ ｾ ｬｲｮ｜ｊ ＧＮＮｬｩｬｬｬ､ＩＧ＠

NV

ｾｌＧｨｯ＠ Bank shall scrnd to ｂｯＱｾｲｯｷｅｩｲ＠ a wri·ttcn statement of al:!. entr icG in the

books of t he Bank in c onnect ion with th i s agre ement . This cta t ement sha ll be deemod to have be en ncknowledged as correct by Borrower i :· objectionn

cf Bo?:rower to the Bank du ly ju.st.ified in wri ting ｨＱＧＱＮｖＨｾ＠ not been made known to tho Bank uithin

thirty

days after the ｾｴｵｴ｣ｭ･ｮ ｴ＠ relating to

those entries ｣ｾｮ＠ ransonably be expected to have been received by Burrower.

Article

:::o.

Ul-_.,.,. • ... M•".,._><°'..,_,.., .• Ｎ｟ＮＮＬＮ｟Ｎ｟ＬＬＮ｟Ｎ［ＰＮＭｾＮｊＮＮＭ［＠

As long as this agreement is in force Borrower shall furnish t o tho Bank such information a..s ｮｾ｡ｹ＠ ｃｾＳｰ･｣ｩ｡ｬｬｹ＠ be requ ired f(.1r the impJe mentation nnd administration of the agreement •

. Article 21"

(1) Borrower herewith irrevocab ly autl1orizes Bank ｉｮ､ｯｮｾｳｩ｡＠ as its representative in the 'erformance of this ｯｧｲ･･ｾ･ｮｴＮ＠ The specimen signaturea of the pers ons entitled to represent 3ank Indonesia towards the Bank ahall be furnished to the ｂ｡ｾｴＮ＠

ＨＲｾ＠ Bank Indonesia ahall b ind Borrower fully to any amount and in any respect .

(3)

The authorization mentioned in the first paragraph of this article shall not apply in th e case R.I.B. is enti tled to draw on the loan

as mention0d in artic le

10

of

this

loan agreement.

Articlco ＲｾＲＬＮ＠

No

d61ay

in exercising or omission to exercj.se any right , power or remedy

accruing t o eitl1er part y under this agreement upon nny default shall impair any auch right, power or r emedy or be const rued to be a waiver

ｾｨ･ｲ･ｯｦ＠ or an acq u iescence in suoh default, unless otherw is e ｰｲｯｶｩ､ｾ､＠

for in this ag!ccmcn ta

·

Ali

rights of the Bank purstiant to

this agreement shall

redound

not

onl y

to

itself but also t o its sucoesaors and ｡ｳｳｩｧｮ･･ｳｾ＠

Art:i cle zli fl

... ｾ＠... ｾ Ｌ ＬＭ ... ＢＢｾ ＢＧ ＢﾷＭＢＢＢＢＱＮＮＬＮＮＬ＠

Borrower sliall re:i.mbur t:'8 to tho Bank on first requent all costs deriving

from any default by ｂｯｲｲｯｾ･ｲ＠ as incurred by the Bank in c c nncction with the imprementation of this agreement.

( ... '\

I / Any d:i.13pute bct.Y.rei;:n parties shH11 be ｇ｣ｾｴｬ･､＠ by arbitration, In

such 11 co.oe the regulations of ｓＨｾ｣ｴｩｯｮ＠ ﾷＱｯｾＰ Ｑｴ＠ of the Gc?tieral Condi

·-tions applic&.bJ.c to I,(x1n and Gu<.:t.rv.11 :;ee Agrecmcr,t:r;, da tcd !·larch '15,

19711 of the Inte rnat ional Ennl-;: for Reconstruction and Dcvc1oprncnt

shnll be npp:Lierl. ｡｣｣ｯｲ､ｩｮｧｬｹｾ＠

( J)

' <- Thifi nc;rcement

-ｾＮｊｩ＠

l.,

ｾ＠2ed ·rl.1rKhe

ｬｮｶ･ｾ＠ te<itig_;!1;;0!<

\'()()(

Ontwi!<kelingsbr\cJ::,

,_.,:

l ' l ' t

Ｈ［［ｾＩ＠ SChis ngrcernont and the intorprct a. tion of nny article thereof, the

General Conditions mentioned in the forer;oing parngra.ph included1

shall be

governed by the l aw of The HetherJ.andn.

Thia Agre ement sha11 not bec omfJ effective until either rarty ha.ving signed the agreement, hns furnished evidence sntisfactory to the other party that itc signnturo is legal, valid and binding nnd that all nocescnry authorizations have be en obtai ned.

( ·1) For the por:f:'ormence of this contract and for the c:::;rving o f legal process Borrower irrevocably elects domicile at the Embassy f

Indoncaia at The Hague and the Bank elects domicile v.t

its

office

at

9:·n_e

ｈ｡ｧｵ･ｾ＠

(2) In witne,2.s ｷｨ･ｲＬｾｯｦ＠ tho par'L:tes hereto? acting thr-:>'..l. gh their duly a uthoriz ed representatives have caused this agreement to be oigncd

in

duplicate

in thBir

respectiv e names nnd delivered in The Hague Ra of the day and year f irs t above writt e n.

For rind on beh n lf of tho

Governm ent of the

Republic of Indon e sia

Signed

DE

ｎｅｬｾｆｌａｩＧＱｄｓｅ＠

ｉｎｖｉｾｓＧｲｅｉｕｎｏｓｂａｎｋ＠

ｖｏｏｒ［Ｐｎｔｗｉｋｋｅｌｉｎｇｓｌａｎｄ ｾｎ＠

N.V.

Mana,j7j ng Off:i cers:

DE

ＩｾｴＯｩＺｾｉｏｩｬｦｴｌｅ＠

ｉｎｖｲｾｓＱ

Ｇｅｒ ｉｎｇ

ｄｂ ｍｦ ｩ｜＠

N .. V

ｾ＠