Article 8 Transfers of Payment

Article 8
Transfers of Payment

1- Each Contracting Party shall guarantee to investors of the other Contracting Party upon fulfillment by them of all tax obligations, a free transfer abroad of payments related to their investments, and in particular:

a) amounts of the initial investment and additional amounts for the maintenance and development of the investment,

b) returns.

c) funds in repayment of loans recognised by the Contracting Parties as investments,

d) Proceeds from sale or full or partial liquidation of an investment.

e) compensation, stipulated in the Article 6 of this Agreement (referrd to para 3 of Article 6: only for requisition).

f) wages and other remunerations received by key-personnel of the other Party who have a right to work in the territory of the first Contracting Party in relation to an investment.

2- Transfers shall be made without delay in a convertible currency at the rate of exchange applicable on the date of a transfer pursuant to the existing exchange regulations of the Contracting Party in whose territory the investments were made.

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