MEMORANDUM OF AGREEMENT BETWEEN
THE GOVERNMENT OF THE REPUBLIC OF INDONESIA
AND THE GOVERNMENT OF THE UNITED STATES OF AMERICA
REGARDING THE THIRD RESCHEDULING OF PAYMENTS UNDER
THE SURPLUS PROPERTY AGREEMENT OF MAY 28, 1947
1.
Reference is made to the "Agreement between the
Government of the Netherlands Indies and the Government of
the United States of America Regarding a Line of Credit for
the Purchase of United States Surplus Property" signed May 28, 1947,
and to the release of the Netherlands Government from its guaranty
thereunder and the assumption by the Government of the Republic
of Indonesia of the debt under such Agreement.
Such assumption was
effected by the exchange of a joint note signed by the Netherlands
and Indonesian Ministers of Foreign Affairs on September 17 and
October 15, 1952, respectively, to the Secretary of State of the
United States and the notes responding thereto of the Secretary
of State to the Netherlands Ambassador and to the Indonesian
Ambassador both signed April 8, 1953.
Reference is also made to
the Memoranda of Agreement of December 30, 1967 and December 20,
1968 between the Government of the Republic of Indonesia and the
Government of the United States of America regarding the rescheduling
of payments under the Surplus Property Agreement of May 28, 1947.
In particular, reference is made to understandings reached in
Paris October 17-18, 1967 and October 17, 1968 between representatives
of the Governments of the Republic of Indonesia and the United
States of America and among representatives of other creditor
governments regarding the rescheduling of debts owed to them
by
2.
In accordance with such understandings and pursuant to
section 2D of the Agreement of May 28, 1947 referred to above, it
is agreed that the payment obligations provided thereunder be
further modified as follows:
(a)
the installment due and payable on July 1, 1969,
amounting to $2,083,668.79 principal and $500,080.51 interest, be
consolidated, making a total of $2,583,749.30 (hereinafter, the
"1969 Consolidated Amount"):
(b)
"Consolidation Interest" shall accrue on the "1969
Consolidated Amount" at the rate of 3 percent per annum during the
period July 2, 1969 through July 1, 1972, shall not be subject to
being compounded and shall be deferred and become payable in the
years 1973-1980 in accordance with the schedule of subparagraph 2(c):
(c)
the "1969 Consolidated Amount" of $2,500,080.51 and
"Consolidation Interest" to be accrued in accordance with
sub-paragraph 2(b) aggregating $232,537.44 shall each be payable in
installments on July 1 in the years 1972-1979 as follows:
5 percent in 1973: 10 percent in 1974, 1975 and 1976: 15 percent
each in 1977, 1978 and 1979: and 20 percent in 1980:
(d)
in addition to the amounts payable under subparagraph
2(c), "Consolidation Interest" shall accrue at the rate of 3 percent
per annum and shall be payable on July 1, 1973 and each July 1
thereafter on the outstanding balance of the "1969 Consolidated
Amount":
(e)
for periods of less than a year, interest is
computed on a 365-day-year, number-of-days• basis.
i
3.
Annex A hereto sets forth a Revised Schedule of Payments
including those specified in paragraph 2 of this Agreement,
combined with those specified in the Memoranda of Agreement of
December 30, 1967 and December 20, 1968 and with the remaining
contractual payments due in accordance with the Agreement of
May 28, 1947 which are not otherwise modified by this Agreement.
Annex A shall replace in its entirety Annex A as attached to the
Memorandum of Agreement of December 20, 1968.
4.
Annex B hereto sets forth the computation of the "1969
Consolidated Amount."
DONE at Djakarta, in duplicate, this
6th day of February 1970.
FOR THE
ｇｏｖｅｒｎｾ＠
OF THE REPUBLIC OF INDONESIA:
Signed
FOR THE GOVERNMENT OF THE UNITED STATES OF AMERICA:
Due Date
J uly l of each year
1969 REC::C!\LDUl..ING PavmPrit lJue of ＢＱＹＱＺ＾ＧＭＧＭｾＭＭＭＮＬＭｓＨＩｙｦｾＭ｣ｩｴＬＮｲｩ＠ A!Il('lunt"
. ap- of ｮｾ｣･ｲｮ｢･Ｎ ｲ＠ 31. J 969
11nn "19 69 Ge>nsoli.:::at ion Ｑｮｴ･ｲ･ｳｴ Ｂｾ＠ 33 p • .:i.
(1) (21 (3)
··It; c<1 .::Onsc.] i(",c:i tion Interest••
,.1969 Com:ol idated ".ccruE.>C Payabl e cm
Unpi:u-·a--Amoun't' of Pririci- 7 /2/66 to Elal ;:ince r f "196"
Co11-Ｚｾ＠ ｾ｡ｬ＠ & lntereRt (a) .,/1/72 (b) s0Fdatf>d Arnount"(c)(cn
- 0 - - 0 - $
-
n
-- 0 -- - 0 - 0
-- 0 -- - 0 - 0
-129 1 HO .47 11 ,626 . 87 77,51'.!.4ti
258,374.93 23,2"i'3.71.i 73,6'>6.05
258,374.93 23 , 253.74 65,ABS.61
1 976 ＲＵＸＬＳＷＴＮＹｾ＠ 23 ,25 3.74 58 , 1 34 . 36
19 77 3&7 , 562.40 34,880.62 50 , 383.11
1 978 387' 562.40 34,880.62 Jfl , 756.24
1979 387,562.40 34 , 880 . 62 27 , 129 . 37
1980 516 7l.!9.84 46 "i07 .49 15 t 502,50
TOfALc;;: $2 . 583 , 749 . 30 ＤｾＵＳＷ Ｎ ＴＴ＠ $406 , 940 0 52
ｃＺｾｐＮＱＭＧｌｕｾ＠ Ｇ［ｬｾｏｐｅｐｔｙ＠ AGP.CEMENl' (May 28 , 1947 - INDON 1;SL\)
Rf\"ISED SGHL"l)ULI:: OF PAY"'l:NTS AS Of JANl.Jl.RY l, 1970
'"'
Tn tal Cl •2 ... J )
<. - 0
-- 0
0
-218,326.82
355 ,265.52
347, ＵＱＴＮＲ ｾ＠
339 , 763.0 3
472, A26 . 11
461 ,19<l.:! G
ＴＴＹｾＵＷＲＮＱＹ＠
57 8 ,759.83
$3,223 . 227,26
196 7-1968 ｒｂｾｃｕﾣｄＧＮＮＺＧｌｉｾｓ＠
Total ｐｾｹｴｮ･ｮｴｳ＠ Due
(SJ " Co nc;ol id.;ted ADY"un t "Gr. n so l id:it ion Interest"
(P..}
0
-697,237 . 25
l , 356 ,405. 88
1 , 470 , 799 . 30
1 , 4 38 ,160.05
1, 85 5,236.18
l , ct5'.! ,314.46
l ,904,369 . 08
l,305 , 121 . 10
588,094.68
0
-$13 568 746 98
Annex A
R!::Mhf NlNG ORIGINAL CONl RAGTUAL PAYMENTS
(Fi' Pr inciMl
2 , 083,668.79
2 ,083 , 668.80
2,0831068.80
ｾＮＰＸＳＬＶＶＸＮＸＰ＠
2,083,608.BO
2,083,668.80
2,083,668.80
2,083,668 . 80
2,083,668,79
2 , 083 , 668. 79
Ｒ Ｌ ＰｾＳ Ｌ ＶＶＸ Ｎ ＷＹ＠ ＤＲＲＭＪＭｾＲＰ＠ Ｎ｟ ｾ｟ＵＶ｟Ｎ＠ 7_§
=-rom January 11 1970 to final
reat•nity @· 2% interest p.a.
(7)
Interest (d)
$ 458,407 ,14
416 , 733 . 76
375 , 0 60.38
333,387 .Ol
291 , 713 . 63
250,040 . 26
208,366 . 88
166,693 , 50
125,020,13
83,346,75
41 673,3 7
$2 ,_750 1442 081
(BJ Total (6+7)
s
2 , 542 , 075 .9 32,500 , 402 . 56
2 , 458 , 729.18
2 , 417 ,055 . 81
2 , 375 , 382 . 43
2 , 333 , 709 . 06
2 , 292,035 . 68
2 , 250 , 362 . 3 0
2 , 208 , 688 .9 2
2 ,1 6 7, 0 1 5 . 54
2 ,1 25 , 34 2 .16
$25 . 670 , 799 ._57
GRAND TOTAL
Pevised Sch.edule
( 9J A) 1 Payments
(4+5+8) (f)
2 , 542 ,075.93
3 , 197 , 639.81
3181 51135006
4,1 06 ,181.9 3
4 ,168,817.00
4,536 , 459.52
4, 585,113.17
4,627 , 557
. s1
4,975,009 . 28
3,204,682.61
2 , 104 , 101 . 99
$ 4 2 .462.773 , 81
(a) In stallment payment due on 7/1/69 of $2 , 083,668 . 79 princip,al and $500, 080051 interest (23 on out<:t,,_nc!ine principal balance of $25 , 004,025.55) , totciling $21583 , 749,30 "1969 Consolidated Amo unt" due in annual payments of:
53 i n 1973 ; 103 each in 1 974- 76; ｬｾ＠ each in 1977-1979; and 20% in 1980 .
( b ) "1969 Consolidation Interest" of 3% per year on $2 , 583,71,.9 , 30 accrued in years 1969-1972, The aggree,.;te acc r ual of $232,537.U4 is due in annual payments of the same perce ntage as is the "1969 Consol idated Amount" s hown i n foo t note (a) above.
( c ) "1 Q69 Consolidation Interest " of 3'- Pf'r year payabl e in 1973-1980 bafled nn outstandine; balance of the "1969 Consolidated Aflx:>unt" declinin g in accordance with column 1. (d) For periods under a yf'ar , interest i::. c omputed on a 165-Cay-y,>a r, number- of - days ' basis .
(e.) Fro ll' co l umn 4 , Annex- A, of t he Memorendull'I of Asreeue.nt of December 20, 1?681 ｲ･ｧ｡ｲ､ｩ ｮ ｾ＠ the re scheduJinJ of ｰ｡ｹｾｮｴｳＮ＠ due July I , 1966 under the Surplus Property Agreement of May 28 , 1 94 7 .
(£ ) Gr a nd Total includes tb.e paytr1enu due as the result of t he 1969 reschedulln r,, (column Li) , the payments due as the resu l t of the 1967 a nd 1968 r eschedulings (column 5), and the original cont r act ua l payme nt s not modified
by e i ther rescheduling (column 8). Thi s column -,upercedes Grand Totals column 9 of Annex A of the Memorandum of Agreement of December 20 , 1 968 ,
ANNEX B
Surplus Property Agreement dated May 28, 1947
"1969 Consolidated Amount"
Contractually due for Consolidation
Principal Amount
Outstanding
$25,004,025.55
Date
July 1, 1969
Total for
Consolidation
Period
1/1/69-12/31/69
"1969 Consolidated Amount"
of Principal and Interest
Contractual Patments
Principal Due
In erest Due
$2,083,668.79
$500,080.51
