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Laws & Regulations Database of The Republic of China (Taiwan)

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Announced Date: 1975-04-08
Effective: 1975-04-08
1.Signed on April 8,1975; Entered into force on April 8,1975.
The Agreement dated April 8,1975 between the Government of the
Republic of Vietnam (hereinafter referred to as GVN) and the Go-
vernment of the Republic of China (hereinafter referred to as GR
Borrower: The Republic of Vietnam
Lender: The Republic of China
Representative of the GVN: The National Bank of Vietnam
Representative of the GRC: The Central Bank of China
Loan amount: Two hundred million New Taiwan
dollars (NT$200,000,000).
Purpose of the loan: To finance the purchase from the
Republic of China of equipment,
machinery and services within t-
he framework of a program of ec-
onomic development in the Repub-
lic of Vietnem.
Period of utilizstion: Within two years beginning from
the date of this agreement.
Terminal date of disbursement: Within six months from the final
date of unilization.
Repayments: Within fifteen (15) years from
the date of this agreement incl-
uding three (3) years of grace.
Principal and interest to be pa-
id semi-annually.
Interest rate: Four per cent (4%) per annum.
In accordance with the resolutions reached at the Ninth Sino-Vi-
etnamese Economic Cooperation Conference, GRC agrees to extend
loans to GVN under this, Loan Agreement containing the following
Article 1:GRC agrees to lend to GVN, on the terms and conditions
set forth or referred to in this Loan Agreement, a pr-
incipal amount up to the limit of TWO HUNDRED MILLION
NEW TAIWAN DOLLARS (NT$200,000,000).
Article 2:GVN designates the National Bank of Viet-Nam as its r-
epresentative and agent for the purpose of any action
required or permitted by this Loan Agreement. GVN sha-
ll be fully responsible for the repayment of the prin-
cipal and payment of the accrued interest.
Article 3:GRC, represented by the Central Bank of China, design-
ates the International Commercial Bank of China as its
agent for the purpose of any action required or permi-
tted by this Loan Agreement.
Article 4:GRC, through its agent, the International Commercial
Bank of China, shall open a loan account on its books
in the name of National Bank of Vietnam and shll cred-
it to such accout the amount of the loan.
Article 5:GVN shall pay interest at the rate of four per oent (4
%) per annum on the amount of the loan disbursed and
outstanding from time to time.
Article 6:GVN shall pay to GRC a commitment fee computed on the
basis of the actual number of days elapsed at the rate
of one half of one per cent (0.5%) per annum on the
average daily unused amount of the loan from and incl-
uding April 9,1975 to and including April 8,1977 or t-
he date on which the loan is fully availed of, whiche-
ver is earlier.
Article 7:Interest and other charges shall be payable semi-annu-
ally on June 20 and December 20 each year and shall be
computed on the basis of 30 days for the month and 360
days for one year.
Article 8:The principal amount of the Loan utilized during the
period of utilization shall be repaid by GVN by 24 eq-
ual semiannual installment payments to be made on June
20 and December 20 respectively of each year beginning
from the fourth year after the signing of this agreem-
ents as set forth in Appendix 1, or in accordance with
the actual amount disbursed.
Article 9:The last disbursement under the loan shall be made no
later than two and half years from the signing date of
this agreement.
Article 10:In case the principal of the loan is not disbursed in
the period of utilization, a reschedule of the unused
portion shall be negotiated between GVN and GRC. The
negotiation shall be conducted six month before the
end of the period of utilization.
Article 11:National Bank of Viet-nam through Commercial Credit
Bank of Viet-Nam shall forward to the International
Commercial Bank of China copies of approval letters
granting the loan to individual projects.
Article 12:Disbursement of advances under the loan shall be made
in the form of Irrevocable Letters of Credit opened
in New Taiwan Dollars by the Commercial Credit Bank
of Viet-nam as designated by National Bank of Viet-n-
amand advised through the International Commercial B-
ank of China. Upon disbursement, the advance shall i-
mmediately constitute a valid obligation of GVN to G-
Article 13:After each disbursement of advances under the loan,
the International Commercial Bank of China shall for-
ward an advance notice to the National Bank of Viet-
Name and Commercial Credit Bank of Viet-Nam.
Article 14:Repayment of the principal and payment of accrued in-
terest on the loan shall be made in New Taiwan Dolla-
rs in Taipei.
Article 15:The International Commercial Bank of China shall not-
ify the National Bank of Viet-Nam of the date and the
amount of principal and of interest due on the outst-
anding portion of the loan.
Article 16:Interest on the outstanding portion of the loan duri-
ng the period of utilization shall be computed up to
May 31 and November 30 of each year. The Internation-
al Commercial Bank of China shall notify the National
Bank of Viet-Nam and the Commercial Credit Bank of V-
iet-Nam the amount of interest 15 days before the pa-
yment date.
Article 17:The loan shall be utilized for the purchase, in the
Republic of China, of equipment, machinery menufactu-
red in the Republic of China and service within the
framework of a program of economic development in the
Republic of Vietnam, only those equipment, machinery
and services included in the Appendix Ⅱ agreed to by
GVN and GRC shall be eligible for financing under th-
is Loan Agreement.
However, the Appendix Ⅱ may be amended by an exchan-
ge of letters between the Ministry of Trade and Supp-
ly of GVN and the Ministry of Economic Affairs of GRC
Article 18:A certificate of origin shall be issued by competent
authorities or the Chamber of Commerce, and visaed by
the Embassy of Vietnam in Taipei, and shall be one of
the documents to be used in the documentary letter of
Article 19:In any of the following events. GRC of the Internati-
onal Commercial Bank of China shall notify GVN or the
Commercial Credit Bank of Vietnam of such events, and
if no remedial measures are taken within 30 days from
the date of such notification, GRC may suspend or te-
rminate disbursement of advances under the Loan and/
or may declare all the principal then outstanding wi-
th interest accrued thereon, due and payable immedia-
tely by GVN.
(1) If GVN should fail to repay the principal and pay
the accrued interest in accordance with the repa-
yment schedule set forth in this Loan Agreement.
(2) If GVN should violate any of the provisions of t-
his Loan Agreement apart from sub-section (1) ab-
Article 20:GVN shall pay all taxes, charges and other expenses,
if any, imposed upon GRC or the International Commer-
cial Bank of China within the territories of the Rep-
ublic of Viet-nam in connection with this Loan Agree-
ment and its implementation.
Article 21:In case of failure to reach settlement on any dispute
, controversy or difference of opinion arising from
this Loan Agreement, arbitration shall be conducted
by three arbitrators appointed in accordance with the
provisions of the Arbitration Rule of the Internatio-
nal Chamber of Commerce of Paris.
Article 22:Amendment to this Loan Agreement, if any, shall be n-
egotiated by both parties and shall be served by wri-
tten notification to each other.
Article 23:Any notice required or request made under this Loan
Agreement shall be deemed to have been duly given or
made when one of the following parties shall have be-
en served with written notification:
Representative of GRC
The Central Bank of China
21 Pao ching Road
Taipei, Taiwan
Republic of China
Cable address: GOVERNBANK,
Representative of GVN
The National Bank of Vietnam
17 Ben Chuong Duong
Republic of Vietnam
Cable address: BANVINA, SAIGON
Article 24:This Loan Agreement shall come into force on the date
of its signing.
IN WITNESS WHEREOF, the GRC and the GVN, acting through their r-
epresentatives thereunto authorized, have caused this Loan Agre-
ement to be duly executed in duplicate in the English language
and signed in their respective names.
Done at Taipei, Republic of China, on this English day of April
in the year One Thousand Nine Hundred and Seventy-five.
K. H. YU
The Central Bank of China
Extraordinary and Plenipotentiary
Date Repayment due Amount of Principal (NT$)
June 20,1978 8,333,333
December 20,1978 8,333,333

June 20,1979 8,333,333
December 20,1979 8,333,333

June 20,1980 8,333,333
December 20,1980 8,333,333

June 20,1981 8,333,333
December 20,1981 8,333,333

June 20,1982 8,333,333
December 20,1982 8,333,333

June 20,1983 8,333,333
December 20,1983 8,333,333

June 20,1984 8,333,333
December 20,1984 8,333,333

June 20,1985 8,333,333
December 20,1985 8,333,333

June 20,1986 8,333,333
December 20,1986 8,333,333

June 20,1987 8,333,333
December 20,1987 8,333,333

June 20,1988 8,333,333
December 20,1988 8,333,333

June 20,1989 8,333,333
December 20,1989 8,333,341
The Loan to be utilized by Vietnamese Manufacturers and Agricul-
tural Firms for importation and purchase from the Republic of C-
hina of the following machineries, equipment as well as for acq-
uisition of technical services related to plant construction:
(1) Agricultural Machinery (power tiller and parts, agricultur-
al implement, etc.)
(2) Food Processing Machinery and Equipment (rice polishing ma-
chine, threshing machine, machinery for processing and can-
ning agricultural products, oil extraction equipment, etc.)
(3) Machine Tools (lathe, drill, shaper, milling machine, grin-
ding machine, punch press, etc.)
(4) Textile Machinery any Equipment (weaving machine and parts,
(5) Boilers
(6) Other Processing Machinery (including galvanizing equipment
, plastic injection molding machine, hydraulic press, prin-
ting machine, etc.)
(7) Machinery and Equipment for Chemical Industries.
(8) Other Machinery and Equipment for Development of Industries
and Agriculture in the Republic of Vietnam, and
(9) Plant Design and Installation or the above Machinery and E-
quipment and related technical services.
(10) Accessories and spare parts for Machinery and Equipment p-
reviously imported from the Republic of China.
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