Agreement on technical procedure of payments on clearing accounts between the Republic of Kazakhstan and Republic of Uzbekistan

of February 9, 1994

The government and National Bank of the Republic of Kazakhstan and the Government and the Central Bank of the Republic of Uzbekistan which are hereinafter referred to as with the parties for the purpose of implementation of "The agreement between the Government and National Bank of the Republic of Kazakhstan and the Government and the Central bank of the Republic of Uzbekistan on the organization of calculations in 1994", of the January 10, 1994 signed in Tashkent

agreed as follows:

Article 1

Settlement transactions according to clearing accounts are made according to the inventory (works, services) approved by the Government of the Republic of Kazakhstan and the Government of the Republic of Uzbekistan the agreement of January 10, 1994 and performed through National Bank of the Republic of Kazakhstan and the Central Bank of the Republic of Uzbekistan.

Article 2

For implementation of calculations between National Bank of the Republic of Kazakhstan and the Central Bank of the Republic of Uzbekistan special clearing accounts are opened. Calculations are perfromed according to "technical procedure of payments on the basis of clearing between the Republic of Kazakhstan and the Republic of Uzbekistan", this agreement which is integral part.

Article 3

The governments of the parties determine the following participants of clearing calculations:

From the Kazakh side: From the Uzbek side:

Ministry of Energy Department of Energy and electrification

Kazkontrakt of GO Uztransgaz

Ministry of Trade Uzgosnefteprodukt

SAC of Astyk Uzkontrakt

SAC Tagam Uzgoskhlopkoprom is sold

GCC Legprom Uzbeksavdo Uzbekdon.

By agreement the parties change of participants of clearing is allowed.

Article 4

By the consent of the parties the currency of clearing calculations determines "clearing" US dollar.

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