The agreement between the Government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic on debt repayment formed as a result of trade and economic relations for 1992-1993 (before transition to calculations for correspondent accounts)
of October 2, 2009
The government of the Republic of Kazakhstan and the Government of the Azerbaijan Republic which further are referred to as with the Parties
proceeding from need of settlement of debt obligations and requirements for 1992-1993 (before transition to calculations for correspondent accounts)
according to the protocol of the first meeting of the intergovernmental commission between the Republic of Kazakhstan and the Azerbaijan Republic of October 22, 1999, agreed as follows:
1. The Azerbaijani Side recognizes the debt to the Kazakhstan Side formed as a result of trade and economic relations for 1992-1993 (before transition to calculations for correspondent accounts).
2. The parties determined, outstanding amount of the Azerbaijan Republic before the Government of the Republic of Kazakhstan in the amount of 16900000 (sixteen million nine hundred thousand) US dollars.
1. The Azerbaijani Side settles outstanding amount in the amount of 16900000 (sixteen million nine hundred thousand) US dollars during the period from January 1, 2010 to December 31, 2011.
2. Payments in repayment of outstanding amount are made by equal semi-annual shares in the amount of 1/4 outstanding amounts according to appendix 1 to this agreement.
3. Dates of payments in repayment of outstanding amount are determined on the (fifteenth) of June 15 and on the (fifteenth) of November 15 the corresponding year.
The Azerbaijani Side shall make the first payment in repayment of outstanding amount on June 15, 2010.
4. The Azerbaijani Side has the right to extinguish ahead of schedule outstanding amount in coordination with the Kazakhstan Side.
1. The payment which is not made in time, specified in Item 3 of Article 2 of this agreement is considered overdue payment.
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