Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=34362&nr=141~2F1979~20Sb.&ft=txt
Minister of Foreign Affairs
of 6 May 1999. November 1979
about the Payment Agreement between the Czechoslovak Socialist Republic and the
The Lao People's Democratic Republic of Algeria
On 11 July. July 1979 in Prague signed a credit agreement between the
The Czechoslovak Socialist Republic and the Lao People's
Democratic Republic. Agreement entered into force on the basis of their
Article 11 on the day 14. September 1979.
The Czech version of the agreement shall be published at the same time.
Ing. Chňoupek v.r.
between the Czechoslovak Socialist Republic of Vietnam and the Lao People's
Democratic Republic of the
The Government of the Czechoslovak Socialist Republic and the Government of the Lao People's
Democratic Republic, for the purpose of adjustment payments between the two
countries and desiring to promote trade relations on the basis of equality and
mutual benefit, have agreed as follows:
The salaries of the anticipated article 3 of this agreement will be made between the physical and
legal entities established in the Czechoslovak Socialist Republic
and natural and legal persons resident in the Lao People's
the Democratic Republic in the framework of the provisions of this agreement, taking into account the
the legislation in force in both countries.
For this purpose, open the Československá obchodní banka, a. s., Prague
acting on behalf of the Government of Czechoslovakia, and Lao foreign bank
trade, acting on behalf of the Lao Government, mutual clearing account in the
clearing roubles (1 ruble = 412 clearing 0.987 gram pure
In the account of the Bank for foreign trade, the Laos, held with the
Československá obchodní Banka in Prague, will be attributed to salaries
making a natural and legal persons resident in the UK and
specified natural or legal persons established in Laos. Debited to that
the account will be credited the amount of the reimbursement, orders received and
made by československá obchodní Banka a. s., Prague.
In favour of československá obchodní Banka a.s. account Prague, held with the
The Bank for foreign trade, the Laos Vientiane, will be attributed to salaries
making a natural and legal persons located in Laos, and intended
natural and legal persons established in, Czechoslovakia. Debited to that
the account will be credited the amount of the payment orders received and
made by Lao Bank for foreign trade.
Both banks will make salaries immediately, regardless of the status of the accounts.
Contracts concerning the exchange of goods between the two countries, will be concluded
and invoices issued in rubles.
Through the account referred to in article 2 of this agreement will be carried out
1. consideration of the item, which will be replaced by trade agreements between
the two countries;
2. secondary salaries associated with the mutual exchange of goods, including expenses for
3. bonuses and compensation from insurance and reinsurance, related to the exchange of
of the goods;
4. transport costs between the two contracting countries to goods on ships
flying the flag of Czechoslovakia or the Lao and on airplanes
Czechoslovak or Laotian companies, just as the transport
expenses on board ships flying the flag of Czechoslovakia or the Lao for
the goods of the Laotian or Czechoslovak origin or intended to Laos or
5. expenses for processing, Assembly, repair;
6. the fees and expenses of patent, license, trademarks, copyright
law, sales and fees for film screenings;
7. taxes, fines, court costs, related to exchange of goods;
8. all other salaries, which are both banks tentatively agree.
The two Contracting Parties shall provide the bank account referred to in article 2 of this agreement
technical loan to a maximum of 300 000 clearing rubles. The amount in excess of the
established technical loan will be interest rate of 2% per year.
At the end of each year, by 31 December 2002. March of the following year,
both banks will carry out the mutual reconciliation of the balances on the clearing account.
The resulting balance in favour of one of the parties will be applied no later than
3 months supply of goods.
Subject to the prior consent of the interested parties may be on the
account referred to in article 2 of this agreement carried out conversions from a third country
or it can be used to transfer to a third country.
It is a commitment that has to be paid through the accounts referred to in
Article 2 of the agreement, expressed in a currency other than in roubles, allocated as
on the aisles, as follows:
and the commitments expressed in Lao) currency will be converted to medium official
Exchange rate of the ruble to the armed znamenaným in Vientianu day before making payment;
(b)) the obligations expressed in the Czechoslovak currency will be recalculated by the official
the Middle exchange rate of the ruble in the Crown znamenaným in Prague the day before performing
(c)) of the Czechoslovak commitments expressed in the currency of another State will be
converted into roubles by the ratio between official rates this
the ruble and currency znamenanými in the Vientianu on the day of payment. Lao commitments
expressed in the currency of another State will be recalculated according to the ratio of the medium
the official rate of this currency and ruble in Prague on the day of payment.
In the event of a change of the gold content of the ruble, which presently makes 0.987 412 grams
pure gold, the assets and liabilities expressed in clearing
roubles, as well as the amounts expressed in clearing rubles in all
concluded and the date changes to the gold contained in the outstanding contracts or
the outstanding parts of the contracts are adjusted to their consideration,
expressed in gold, has remained the same as before the change.
Československá obchodní banka, a. s., Prague and Lao foreign bank
trade shall agree on the technical implementation of this agreement.
In the event of termination of this agreement and in the case that the
concluded a new agreement, the payment of any outstanding balance on
accounts referred to in article 2 applied to dlužnickou party goods
or the carrying out of other common remuneration in conformity with the provisions of this
The agreement, and within 12 (twelve) months from the date of termination of this
During the said period of 12 months will be used by the provisions of this
The agreement for all open transactions concluded under the previous
After expiry of the period of 12 months will be any outstanding balance
applied dlužnickou party within a period of 30 (thirty) days on convertibles
the currency on which the two banks agreed among themselves.
Any other claims and liabilities between the two countries during
12 months offset by and after 12 months on the day of their
the maturity of the settled in the same way.
This agreement shall be provisionally applied from the date of signature and shall enter
into force on the exchange of diplomatic notes confirming that it has been
approved in accordance with the respective constitutional requirements of both countries.
This agreement will be valid for three years and will then be automatically extended
always on the next annual period, unless one of the Contracting Parties has notified
the other party of its intention to terminate this agreement in writing six
months before the expiry of its validity.
To do this, on the evidence of the representatives of the two Governments, duly authorised thereto, have signed this
Agreed in Prague on 11. July 1979 in Czech, English, Lao, and
the French, in duplicate, with all of the texts have
the same force.
In the case of different interpretation of the text of the French is critical.
For the Government of
The Czechoslovak Socialist Republic:
Ing. Andrei Noreezz v.r.
Minister of foreign trade
For the Government of
Lao People's Democratic Republic:
Sanan Southichak v.r.
Minister of public works and transport
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