Agreement between the Government of the Republic of Kazakhstan and Government of Turkmenistan on non-commercial payments

of May 19, 1993

Became effective from the moment of signing.

The government of the Republic of Kazakhstan and the Government of Turkmenistan which are hereinafter referred to as by the Parties for the purpose of providing non-commercial payments between the Republic of Kazakhstan and Turkmenistan, agreed as follows:

Article 1

The parties will provide to physical persons, constantly or temporarily staying, and also to the legal entities officially registered in the territories of the Parties possibility of free money transfer on uncommercial transactions which list and conditions are determined by the Ministries of Finance of the Parties in the special agreement.

Article 2

Payments on uncommercial transactions are made through the correspondent accounts of commercial banks of the Republic of Kazakhstan and Turkmenistan opened by them each other according to the legislation of the Parties and also through correspondent account of National Bank of the Republic of Kazakhstan in the Central bank of Turkmenistan and National Bank of the Republic of Kazakhstan.

Article 3

The ministries, departments and other subordinates to the Governments of the Parties bodies will sign bilateral agreements about carrying out settlement on uncommercial transactions in coordination with the Ministries of Finance and the Central (national) Banks of the Parties.

Article 4

Changes and additions by mutual consent of the Parties can be made to this agreement.

Article 5

All matters of argument connected with accomplishment and interpretation of this agreement will be solved by negotiations.

Article 6

This agreement is effective from the moment of signing and voids after three months after receipt of the notification on refusal of one of the Parties of participation in this agreement.

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