Unless otherwise agreed between New Zealand and the Fund, all subscriptions, exchanges and payments of capital and interest under this agreement, at the exchange rates of the currencies concerned, will be made in accordance with the SDR established pursuant to Article XIX, Section 7, Point a), the Fund and the Fund`s rules and rules for the second working day of the Fund prior to the date of the transfer value. exchange or payment. This agreement is based on Article VII, Section 1, paragraph 1, of the Fund`s statutes, which authorizes the Fund to borrow from Fund members or other sources if it believes that such measures are appropriate to replenish its holdings in a member`s currency on the General Resources Account (ARG). “Agreements” define the main obligations of the parties involved. As a general rule, they consist of four sections: if a member withdraws from the Fund, the Fund`s normal operations and operations are settled in its currency and the settlement of all accounts between the Fund and the Fund is carried out by appropriate agreement between the Fund and the Fund. In the absence of agreement, the provisions of Schedule J apply to the count. In the recitals, the agreement is relegated to the background with factual details on the basis of the contract. Seven recitals describe what is needed and what has happened. Statutes are a company`s fouding document. They contain, among other things, the company`s main purpose and powers, members` voting rights and restrictions. It is similar to incoptrporation articles, but it is used more often to refer to the founding document of a non-profit organization. In general, the articles of the agreement detail the proposed provisions on the facts that result and specify a time frame for the execution of the facts. 5.
When a member has reached an agreement with the Fund covered in point 3, the Fund uses the currencies of other members assigned to that member in accordance with point 2 (d) to pay the member`s currency, the other members who have entered into agreements with the Fund under 3, under 3. Each amount thus collected is cashed in the currency of the member to whom it has been allocated. 2. If the commitment that remains at the Fund`s expense after the imposition under Article XXIV, Section 2, Point b), and no agreement is reached within six months of the closing date, the terminating member commits to it within three years of the end or within the longer period set by the Fund. The terminating participant fulfils this obligation, for example: (a) by paying a currency freely usable to the Fund, or b) by obtaining special drawing rights in accordance with Article XXIV, Section 6, of the General Resource Account, or in agreement with a participant designated by the Fund or another holder, and by compensating for these special drawing rights. 2. If the Fund`s holdings in the member`s currency are not sufficient to pay the net amount owed by the Fund, the balance is paid in a freely usable currency or in some other form that can be agreed upon. If the Fund and the outgoing member fail to reach an agreement within six months of the date of withdrawal, the currency in question, which the Fund holds, is immediately paid to the outgoing member. The balance payable is paid in ten semi-annual instalments over the next five years. Each of these tranches is paid, at the Fund`s choice, either in the outgoing member`s currency acquired at the exit of the fund, or in a freely usable currency. Formal agreement between two or more parties to do something.
Agreements have often been established in advance of a lease or transportation contract. They defined the conditions to be included. In many ways, they duplicate the acts that result from them.