TREATIES AWI» OTHER 11VTER]¥AT1OIVAE ACTS SERIES 3034

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GUARANTY OF PRIVATE INVESTMENTS

Amending Agreement of December 28, 1951

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Effected by Exchange of Notes

Signed at Rome October 18,1957

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Agreement Between the

United States of America

and Italy

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DEPARTMENT OF STATE

[Literal print]

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For sale by the Superintendent of Documents, U.S. Government Printing Office . ,

Washington 25, D.C. : Price 5 cents
ITALY

Guaranty of Private Investments

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22 U.S.G. § 1933 (b)

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(1) TIAS 3934

62 Stat. 144.

22 U.S.G. 5 1509 (b)

TIAS 2463.

3UST,pt.2,p. 2Sn.

Agreement amending the agreement of December 28, 1951.

Effected by exchange of notes

Signed at Rome October 18, 1957;

Entered into force October 18,1957.

The American Ambassador to the Italian Vice President of the

Council of Ministers, Minister of Foreign Affairs

THE FOREIGN SERVICE

OF THE

UNITED STATES OF AMERICA

No. 462

Excellency;

I have the honor to refer to the conversations which have

recently taken place between representatives of oui- two Governments, relating to a fiu'ther type of guaranty authorized by

Section 413 fb) (4) of the Mutual Security Act of 1954, as amended. 68^taL^47.

I also have the honor to confirm the understandings reached as a (4).

result of these conversations as follows:

a. All references to “Section III (b) (3) of Economic Cooperation Act of 1948’’ in the exchange of notes of December 28, 1951

between our two Governments shall be changed to “the Mutual (3l

Security Act of 1954, as amended”.

b. The enclosed copy [‘] of Section 413 (bl (4) of the Mutual

Security Act of 1954, as amended, shall be substituted for the

copy heretofore enclosed with the aforementioned exchange of

notes.

c. Subparagraph “B” of the unnumbered paragraph of the

aforementioned exchange of notes shall not be apphcable to the

type of guaranties provided for in the following subpai-agraph (d).

d. If the Government of the United States of America issues

guaranties to cover losses by reason of war with respect to investments in Italy, the Government of Italy agrees that nationals of

the United States of America to whom such guaranties have been

issued, will be accorded by the Government of Italy treatment no

less favorable than that accorded, in like circumstances, to its

nationals or nationals of third countries, with reference to any

reimbursement, compensation, indemnification, or any other pay-

* Not printed.

98473—67
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Roma, IS ottobre 1957

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,TIAS 3934 1

Rome, Italy.

October 18', 1957.

His Excellency

Giuseppe Pella

Vice President oj the ‘Council of Ministers,

Minister of Foreign Affairs,

Rome.

James David Zellerbach

American Ambassador

ment, including the distribution of reparations received from

enemy countries that the Government of Italy may make or pay

for losses incurred by reason of war; if the Government of the

United States of America makes payment in U. S. dollars to any

national of the United States of America under a guaranty for

losses by reason of war, the Government of Italy will recognize

the transfer to the United States of America of any right, privilege,

or interest, or any part thereof, that such nationals may be

granted or become entitled to as a result of the aforementioned

treatment by the Government of Italy.

AU other provisions of the exchange of notes of December 28,

1951 between our two Governments shaU remain in fuU force and

effect.

Upon receipt of a note from Your ExceUency indicating that

the foregoing provisions are acceptable to the Government of

Italy, the Government of the United States of America will consider that this note and your reply thereto constitute an agreement between the two Governments on this subject,, the agreement to enter into force on the date of your note in reply.

Accept, Excellency, the renewed assurance of my highest consideration.

The Italian Vice President of the Council of Ministers, Minister

of Foreign Affairs, to the American Ambassador

IL MINISTRO DEOLI AFFARI ESTER!

47/01292

Signor Ambasciatore,

con lettera in data odierna V.E. ha voluto comunicarmi quanto

segue:

“ “Ho I’onore di riferirmi aUe conversazioni che si sono recentemente avute tra i rappresentanti dei nostri due Governi su un

ulteriore tipo di garanzia autorizzata dalla Sezione 413 (b) (4) del
3

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;TIAS 8934

Mutual Seciu’ity Act del 1954 e relativi emendamenti. Ho

altresi I’onore di confermarLe le intese raggiunte in conseguenza di

dette conversazioni come segue:

a) - Ogni riferimento alia "Sezione III (b) 3 dell’Atto di cooperazione economica del 1948” contenuto nello scambio di lettere del

28 dicembre 1951 tra i nostri due Govern! sara cambiato in quello

di “Mutual Secm-ity Act del 1954 e relativi emendamenti”;

b) - L’acclusa copia della Sezione 413 fb) (4) del Mutual Security

Act del 1954 e relativi emendamenti, sara sostituita alia copia

finora acclusa al summenzionato scambio di note;

c) -Il sottoparagrafo B) del secondo paragrafo non numerate del

summenzionato scambio di note non sara applicabile al tipo di

garanzie contemplate nel seguente sottoparagrafo d);

d) - Se d Governo degli Stati Uniti d'America rilascia garanzie

per coprire perdite dipendenti da cause di guerra relative a ipvestimenti in Italia, il Governo italiano e d’accordo nel riconoscere ai

cittadini degli Stati Uniti d’America, a cui queste garanzie sono

state rilasciate, un trattamento non meno favorevole di quello 

accordato in simdi circostanze ai propri cittadini o a cittadini di

terzi Paesi per ogni rimborso, compenso, indennizzo od ogni altro

pagamento ivi compresa la distribuzione di riparazioni ricevute

da Paesi nemici che il Governo italiano pud effettuare o pagare-per

perdite incorse per cause di guerra; se iJ Governo degli. Stati

Uniti d’America effettua pagamenti in dollar! U.S.A, a cittadini

degli Stati Uniti d’America in relazione ad una garanzia per perdite

per cause di guerra, il Governo italiano riconoscerfi, d trasferimento

al Governo degli Stati Uniti d’America di ogni du-itto, privilegio

o interesse o parte di essi eventualmente concessi a detti cittadini

o di cui essi siano divenuti titolari in conseguenza del summenzionato trattamento accordato dal Governo italiano.

Ogni altra disposizione deUo scambio di note del 28 dicembre

1951 tra i nostri due Govern! rimarra interamente in vigore.

A ricezione di una nota di V.E. secondo la quale le suddette

disposizioni sono accettabili dal Governo italiano, il Governo

degli Stati Uniti d’America considereiA queste note e la risposta

ad esse da parte di V.E. quale accordo tra i due Govern! in materia,

restando inteso che I’accordo entrera in vigore alia data deUa nota

di risposta di V.E.” ”

Ho I’onore di informarLa che il Governo italiano e d’accordo su

quanto precede.
4

Pella

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Rome, October 18,1957

Pella

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TIAS S934

U. 8. OOVSHMMCNT PRINTINO OPPiCBi I9B7

Sua Eccellehza

James David Zellerbach

Ambasciatore degli Stati Uniti

d’Amei'ica

Roma

Mi 6 grata I’occasione, Signor Ambasciatore, per rinnovarLe

I’espressione della mia alta considerazione.

Translation

THE MINISTER OF FOREIGN AFFAIRS

47/01292

Mr. Ambassador: •

In a note dated today Youi’ Excellency was good enough to

communicate to me the following:

[For the English language text of the note, see ante, p. 1.]

I have the honor to inform you that the Italian Government

concurs with respect to the foregoing.

I avail,myself of this opportunity, Mr. Ambassador, to renew

to you the expression of my high consideration.

His Excellency

James David Zellerbach,

Ambassador oj the United States oj Ameidca,

Rome.

b 5
TREATIES AND OTHER INTERNATIONAL ACTS SERIES 2403

I

ECONOMIC COOPERATION

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• Entered into force December 28, 1951

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• Effected by Exchange of Notes

Signed at Rome December 28,1951

Agreement between the

United States of America

and Italy
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DEPARTMENT OF STATE

Publication 4598

[Literal print]

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Your Excellency:

I have the honor to refer to conversations which have taken place

between representatives of our two governments with regard to the

extension of guaranties by the United States Government to private

American investments in Italy.

In this connection, it has been agreed that:

A. If the Government of the United States of America makes payment to any person of compensation for loss on any investment in a

project approved by the Government of Italy pursuant to a guaranty

against loss by reason of expropriation or confiscation authorized by

Section 111(b)(3) of the Economic Cooperation Act of 1948, as 

amended,['] the Government of Italy will recognize the transfer to the

United States of America of any right, title or interest of such person

in assets, currency, credits or other property on account of which such

compensation was paid, including compensation for such loss received

by such person from any source other than the United States of

America, and the subrogation of the United States of America to any

claim or cause of action of such person arising in connection therewith.

B. Any claim thus acquired by the Government of the United

States of America against the Government of Italy shall be the subject of direct negotiations between the two governments. If, within

a reasonable period, they are unable to settle the claim by agreement,

it shall be referred for final and binding determination to a sole arbitrator selected by mutual agreement. If the Governments are imable,

within a period of three months, to agree upon such selection, the

arbitrator shall be one who may be designated by the President of the

International Court of Justice at the request of either government.

C. The Government of Italy will accord the same treatment with

respect to currency to which right, title or interest has been transferred to the United States of America on account of such guaranty as 

the Government accords to currencies transferred to the United States

of America on account of any guaranty against loss by reason of lack

of convertibility authorized by Section 111(b)(3) of the Economic

* 62 Stat. 144; 63 Stat. 51; and 64 Stat. 198.

99946—S2 (1)

The American Ambassador to the Italian Minister of Foreign Affairs

Rome, Italy

December 28, 1951
TIAS 2463 2

James Clement Dunn

Roma, 38 Die. 1951 1

5,

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His Excellency

Dr. Alcide De Gasperi

Minister of Foreign Affairs

Rome

Cooperation Act of 1948, as amended, with reference to which the

Government of Italy has given its assurances to the Government of

the United States of America under date of June 9, 1949. (Reference

letters 8226/583 and 8227/584).[*]

Please accept. Excellency, the renewed assurances of my highest

consideration.

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The Italian Minister oj Foreign Affairs to the American Ambassador

IL MINISTBO DEOLI AFFARI ESTERI

44/17683/1208

Signor Ambasciatore,

ho il piacere di confermarLe a nome del Governo Italiano che:

A. Se il Governo degli Stati Uniti d’America effettua pagamenti

ad una persona a compenso di perdite su investimenti in progetti

approvati dal Governo italiano, a seguito di una garanzia, autorizzata

daUa Sezione 111 (b) (3) della Legge di Cooperazione Economica 1948

e successivi emendamenti, contro perdita dovuta a espropriazione

o confisca, il Governo italiano riconoscerS, il trasferimento al Governo

degli S.U.A., di ogni diritto, titolo o interesse di tale persona nelle

attivit^l, somme di denaro, credit! e altre propriety,, in conto deUe

quali il compenso e stato pagato, compresi eventual! compensi per

le perdite che tale persona abbia ricevuto da qualsiasi altra origine,

diversa dagli S.U.A., e il subentro del Governo degli S.U.A. in ogni

diritto o ragione di azione di tale persona, da cid derivanti.

B. Qualunque diritto in tai modo acquisito dal Governo degli

S.U.A. verso il Governo italiano sar^ oggetto di trattative dirette tra

i due Paesi. Se entro un ragionevole periodo i Govern! non sono

riusciti a regolare la questione per via di accordo, essa sar^t deferita per

una decisione finale e vincolante a un singolo arbitro, scelto di mutuo

accordo. Se i due Governi non riescono entro un periodo di tre mesi

a convenire su tale scelta, I’arbitro doviA essere una persona che verr^l

designata dal Presidente della Corte Internazionale di Giustizia a

richiesta di uno o deU’altro dei due Governi.

C. Alle somme di denaro il cui diritto, titolo o interesse 6 stato

trasferito al Governo degli Stati Uniti d’America in relazione aUe

garanzie suddette, il Governo italiano accorder^ lo stesso trattamento

* Not printed.
3 TIAS 2463

Translatio'n,

Rome, December 28, 1951

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che accorda alle somme di danaro trasferite al Governo degli Stati

Uniti d’America in relazione a qualsiasi garanzia contro perdite dovute

a inconvertibility, autorizzata dalla Sez. Ill (b) (3) deUa Legge di

Cooperazione Economica del 1948 e successive modifiche, in relazione

alle quali il Governo italiano ha dato la sua assicurazione al Governo

degli Stati Uniti d’America in data 9 giugno 1949.

Gradisca, Signor Ambasciatore, gli atti della mia alta considerazione.

De Gasperi

THE MINISTER OF FOREIGN AFFAIRS

44/17683/1208

Mr. Ambassador,

I take pleasure in confirming to you, in the name of the Italian

Government, that:

A. If the Government of the United States of America makes payments to a person as compensation for losses on investments in projects

approved by the Italian Government, following a guaranty authorized

by Section 111 (b) (3) of the Economic Cooperation Act of 1948 and

subsequent amendments, against loss due to expropriation or seizure,

the Italian Government will recognize the transfer to the Government

of the United States of America of any right, title, or interest of such

person in the assets, sums of money, credits, and other properties on

account of which the compensation has been paid, including any compensation for losses which such person may have received from any

source, other than the United States of America, and the subrogation

of such person by the Government of the United States of America in

every right or cause for action deriving therefrom.

B. Any right thus acquired by the Government of the United States

of America with respect to the Italian Government shall be the subject

of direct negotiations between the two countries. If within a reasonable period the Governments have not succeeded in settling the question by means of agreement, it shall be referred to a sole arbiter, chosen

by mutual agreement, for a final and binding decision. If within a

period of three months the two Governments have not succeeded in

agreeing on such choice, the arbiter shall be a person appointed by the

S. E.

James Clement Dunn

Ambasciatore degli Stati Uniti d’America

Roma
TIAS 2463 4

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U. S. DOVEailUENT rniNTINS OFPlCEi lEIt

His Excellency

James Clement Dunn

Ambassador oj the United States of America

Rome

President of the International Court of Justice upon the request of

either of the two Governments.

C. To the sums of money the right, title, or interest in which has

been transferred to the Government of the United States of America

in connection with the aforesaid guaranties, the Italian Government

will accord the same treatment that it grants to sums of money transferred to the Government of the United States of America in connection with any guaranty against losses due to inconvertibility,

authorized by Section 111 (b) (3) of the Economic Cooperation Act

of 1948 and subsequent amendments, with respect to which- the

Italian Government gave its assurance to the Government of the

United States of America on June 9, 1949.

Accept, Mr. Ambassador, the assurances of my high consideration.

De Gasperi
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IITED STATES OF AMERICA

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Yours very truly,

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We are now attaching two sets of certified copies of

these letters, which were exchanged on Kovemher 19«

Dear LuT. Houston:

You will recall the exchange of letters between tne

Ambassador and Italian Foreign Minister which was designed

to cover the modifications to the guaranties program brought

about through the L'utual Security Act of 1953, particularly the

provision extending the potential life of individual guaranties

beyond the original cut-off date of 19t>2» The exchange was

proposed by us in our airgram TOUSFO A-388, and approved in

your airgram USPOTO A-399*

Carlisle C. Llclvor

Acting Chief

Industry and Investment Division

CABLE ADDRESS

• ITAMSA „

Sncl.

Two certified copies of letter dated November 19, 1954

from Ambassador Luce to Foreign Minister Martino.

Tv/o certified copies of letter No. 01021 dated November 19, 1954

from Foreign Minister Martino to Ambassador Luce.

Mr. Charles E. Houston

Chief, Investment Guaranties Branch

Foreign Operations Administration

Wasnington 25, D.C. ' I

ATIONS MISSION TO ITALY

63 VIA VENETO, ROME

December 1b, 1954

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Vice C onsul of the-Unlted States

of America

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I, Eramit E. Noland, Vice Consul of the United States

of America at Rome, Italy, duly commissioned and qualified,

do hereby certify that the annexed Note dated November 19,

1954, from the Ambassador of the United States of America

to His Excellency Gaetano Martino, Minister of Foreign

Affairs of Italy, is a true and correct copy of the

permanent file copy on file In this Embassy, the same

having been carefully examined by me and found to agree

with the said permanent file copy word for word and figure

Service No,

Tariff item 38^

No fee prescribed

In witness whereof I haye^hereunto set

my hand and caused the seal of my office

to be affixed this 13th day of December, 1954.

City of Rome

Embassy of the United States of America )

Italy

Province of Rome

Z ^mmlt E. Noland \

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Uorrvatier 19, 1954

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1 shall be glad to receive your confirmation ot

the above agreement.

Accept, Excellency, the renewed assurances of my

highest consideration.

His Excellency

Gaetano Martino,

Minister of Foreign Affairs

• 0

of Italy.

Excellency:

1 have the honor to refer to conversations which

have taken place between representatives of our two

governments with regard to the extension of guaranties

< *

by the United States Government to private American

Investments in Italy.

In this connection it has been agreed that the

assurances relative to the above-mentioned guaranties

which were given by the Italian Government to the

United States Government under date of 9 June 1949,

(reference letters 3226/5^3 and S227/5$4) and 2S

December 1951, will apply to all guaranties of convertibility, or against confiscation or expropriation, which

may be issued by the United States Government under the

provisions of the Economic Cooperation Act of .1943 as

amended to date.
Koveaber 19, 1954

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His Excellency

Oaotano Martino,

Minister of Foreign Affairs

of Italy*

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Excellency:

1 have the honor to refer to conversations which

have trken place between representatives of our tw»

governments with regard to the extension of guaranties

by the United States Oovemoent to private American

investments in Italy.

in this cbnnection.it has been agreed that the

assurances relative to the above-mentioned guaranties

which were given by the Italian Oovernment to the

United States Qovernpiont under date of 9 June 1949,

(reference letters d226/5S3 and 3227/584) and 23

Oec€aber,195£, will apply'to all guaranties of convertibility, or against confiscatioh or expropriation, which

may be Issued by the United States Government under the

provisions of the Economic Cooperation Act of 1948 as

amended to date.

I shall be glad to receive your confirmation of

the above agreement.

Accept, Excellency, the renewed assurances of my

highest consideration.
I

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City of Rome

Embassy of the United States of America

for figure.

In witness v/hereof I have hereunto set

Ttoland \

Vice Consul of the'United StatAs i

Service No. fiQQi

Tariff item’^'^-^'

No fee prescribed

—.....— Vice Consul of the'United States

of America

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my hand and caused the seal of my office

_,_to be affixed this 13th day of December, 1954.

I, Emmit E, Noland, Vice Consul of the United States

of America at Rome, Italy, duly commissioned and qualified,

do hereby certify that the annexed Note dated November 19,

1954, from the Ambassador of the United States of America

to His Excellency Gaetano L'artino, Minister of Foreign

Affairs of Italy, is a true and correct copy of the

permanent file copy on file in this Embassy, the same

having been carefully examined by me and found to agree

with the said permanent file copy word for word and figure

Italy

Province of Rome
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01621 Hooia, 19NOV.1954

con letters in data odierna V.E. ha voluto comuniIIII n

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Ho I’onore di informarLa che il Governo italiano e

» zione.

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Sua Eccellenza

Roma

Clara BOOTIE LUCE

Ambasciatore degli Stati Uniti d'Americ

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d'aecordo.su q^uanto precede.

Mi e grata I'occaeione, Eccellenza, per rinnovarLe

1'espressione della mia piu alta conside

carmi quanto segue :

Ho I'onore di riferirmi alle conversazioni che

hanno avuto luogo fra i rappresentanti dei nostri due Gover

ni in merito alia estensione delle garanzie concesse dal Go.

verno degli Stati Uniti per gli investimenti privati americani in Italia.

A tale riguardo d stato concordato che le assicurazioni relative alle suddette garanzie che sono state

te dal Governo italiano al Governo degli Stati Uniti in da

ta 9 giugno 1949 (riferimento lettere 8226/583 e 8227/584)

e 28 dicembre 1951 si applicheranno a tutte le garanzie di . convertibility, o contro espropriazione o confisca, che ven

gano emesse dal Governo degli Stati Uniti in base all'"Econo^

aic Cooperation Act” del 1948 e successivi emendamenti fino

alia data di oggi

« Eccellenza,
9

Republic of Italy, )

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I, Emmit E. Noland, Vice Consul of the United States of

In witness whereof I have hereunto

set my hand and caused the seal of

my office to be affixed this IL

thirteenth day of December, 1954

anmit E» Noland

Vice Consul of the United States

of America

America at Rome, Italy, duly commissioned and qualified, do

hereby certify that the annexed photostatic copy of Letter

No. 0tb2t dated November 19, 1954, from On. G. Martino,

Foreign Minister of Italy, to Her Excellency Clare Boothe

Luce, Ambassador of the United States, is a true and correct

copy of the signed original, the same having; been carefully

examined by.me and found to agree with the said original word

for word and figure for figure.

Sorvico No. 6806

Tariff Item 38.

No fee prescribed.

Province of Rome, City of Rome,

Embassy (Consular Section) of

the United States of America
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01621 . Roaa, 19 NOV, 1954

Eccellenza,

con lettera in data odierna V.E. ha voluto comuniII II II

Ho I'onore di informarLa che il Governo italiano e

zione. \

Sua Eccellenza (

Homa

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carmi qj.anto segue :

Ho I'onore di riferirmi alle conversazioni che

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Clara BOOTIE LUCE

Ambasciatore degli Stat.i Unit! d'Americ

d'a;jcordo . su q^uanto precede.

Mi e grata I'occasione, Eccellenza, per rinnovarle

1'espressione della niia piu alta conside

hauno avuto luogo fra i rappresentanti dei nostri due Gover

ni in merito alia estensione delle garanzie concesse dal Go .

verno degli Stati Uniti per gli investiaenti privati americani in Italia.

A tale riguardo e state concordato che le assicurazioni relative alle suddette garanzie che sono state

te dal Governo italiano al Governo degli Stati Uniti in da

ta 9 giugno 1949 (riferiaento lettere 8226/583 e 8227/584)

e 28 dicembre 1951 si applicheranno a tutte le garanzie di . convertibilita, 0 contro espropriazione 0 confisca,che ven

gano emesse dal Governo-degli Stati Uniti in base all'"Econo

die Cooperation Act" del 1948 e succeasivi emendamenti fino

alia data di oggi"V".
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Republic of Italy, )

the United. States of America )

I, Umnit E. Noland, Vice Consul of the United States of

In witness; whereof I have hereunto

set my hand and caused the seal of

my office to be affixed this

thirteenth day of December, 1954

68Q4

No fee prescribed.

examined by me and found to agree with the said original word

for word and figure for figure.

Luce, Ambassador of the United States, is a true^ and correct

copy of the signed original, the same having been carefully

Qnmit. E. Noland

Vice Consul of the United States

of America

America at Rome, Italy, duly commissioned and qualified, do

hereby certify that the annexed photostati© copy of Letter

No. OT62t dated November 19, 1954, from On. G. Martino,

Foreign Minister of Italy, to Her Excellency Clare Boothe

Province of Rome, City of Rome,

Embassy {Consular Section) of

Servico No*

TarHl Hom 38.

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Se il Governo de^li 3tati Uniti d.'Aaierica effettua

.pagaaenti ad una persona a compenso di perdite su investimenti

in p;O£etti approvati dal Governo italiano, a seguitb di una

garanzia, autorizznta dslla Sezione 111 (b) (3) della Legge di

Cooperazione Zc'^nomica 1948 e successivi emendaaienti, contro

perdita dovuta a espropriazione o confisca, il Governo italia=

no I’iconoscerd il trasferiniento al Governo degli 2.U.A.,' di ofini

diritto, titolo o interesse di tale ,.ersona nelle' attivit^, som=

ne di denaro, crediti e altre proprieta, in conto delle quali il

. co.i\penso e stato pagato, c.iiipreai eventuali conpensi per le per=

dite one tale persona abbia ricevuto da qualsiaai altra originei

diversa dagli 5.G.A., e il subentro del Governo degli S.u.A. in

ogni diritto o -ragione di azione di tale persona, da cid deri=

vanti.

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ho il piacere di confermarLe a riome del Governo .

Italiano one:

Jarier-.' 32 enent DL'.’dd

r^ozoiato.e ie.^ld

3. Qua.-unque diritto in tai modo acquisjto dal Governo

deeli G.d.A. verso il Governo italiano ssra oggettc di trattati=

ve dirette era i due Paesi. Se entro un ragionevole periodo i

Governi non sono riusciti a re^olare la question© per via di ac=

oordo, essa sara deferita per- uno decis.ione finale e- vincolante

a. un singolo arbit.o, scelto di ziutuo accordo. Se i due Governi

non.riescono entro un periodo di tre uesi a convenire sU tale

zcelta, I'aroitro dovra essere una persona che verra designate

2ol Presidente della

di uno 0 dell'oltio dei due^overai. '
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garanzia contro perdite dovute

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iiierica in data 9 ...iugno 1949.

Gradisca, Signor Ambasciatore, della mia »1 con= • siderazione•

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a inconvertibility, autorizzata dale

Sconomica del I948

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te al Governo degli Stati Uniti d’America in relazione a qualaiLi

garanzia contro perdite dovute c 1 . u axaiasi

la Sez.111 (b) (3).della Legge di Cooperezione E_. 1

no^h^^'d^tyf ^odifiche, in relazione alle quali il Governo

no ha daro la sua assicurazione al Governo

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Alle somme di denaro il cui diritto,

relazione alle garanzie suddette, il G

lo stesso trattamento che accorda alle
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aat ay head and oauaad the aaal of

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day of January, 1952.

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Vloa Coartul 'if the United Stataa

of Aiperiea

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Z» Jalm 0. White, Vloe Oonaul of the United Stataa of

Aaarlaa at Roaa, Italy, duly eoaailaaionad and qualified, do

haraby eartlfy that the annaxad photoatatlo copy of Rota

datad Daaaobar 20, 1951, froa the Aabaaaador of the United

Stataa of Aaarlea at Rasa, lUly, to Bia Ezoallanoy Dr.

Alolda Da Qaaparl, Mlnlatar of foreign Affalra, Poae, la

a tma and aorraat oopy of the algnad original, the aaae

haring baan oarafully azaalned by ae and found to agree with

the aald original word for word and figure for figure.

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^x-'^'RapahUa 9t

ProTlnaa af Roaa, City of fioaa,

Sabaaay (Oanaular Saetlon) of

the United Stataa of Aaes'ioa
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* In tblB connection, it has been agreed thatt

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December 28,

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I have the honor to refer to convereatione which

have taken place between representatives of our two

governn.ents with regard to the extension of guarantiee

b^' the United States Covex*naent to private Anericaa in**

vestments in Italy.

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The Government. . .

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If the Governnent of the United States of

America makee payment to any.person of compensation

for loss on any investment in a project approved by

the Government cf Italy pursuant to a guaranty against

loss by reason of exprooriation or confiscation authorized by Section 111(b)(3) of the Sconpmic Cooperation

Act of 1946, as amended, the Government of Italy will

recognize the transfer to the United States of America

of any right, title or interest of such person in assets,

currency, credits or other property on account of which

such compensation was paid, including compensation for

such loss received by such person from an^' source other

than the United States of America, and the subrogation

of the United States of America to any claim or cause

of action of such person arising in connection therewith.

Any claim thus acquired by the Government of

the United States of America against the Government of

Italy ehall be the subject of direct negotiations between the two governments. If, within a reasonable

period, they ar»- unable tc settle the claim by agreement, it s; all be referred for final and binding determination to a sole arbitrator selected by" mutual agreeIf the Governments are unable, within a period

of three months, to agr-e upon such selection, the arbltratcr shall be .one who ray be designated by the Preei-.-

der. t f>f the International Court of Justice at the request

of eithe:: t'^vernment.

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to currency ,to which right, title

on account of any

aeeurances to the Covernaent of the

of n.y highest consideration.

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guaranty against loss by

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a-endJ^' °;/^®/^conomir Cooperation Act of 1?48, as

Italy the Government of

’•nitid assurances to the Government of the

.nited States of Ar,erica under date of June 9,

(Reference letters 8?£6/583 and 8227/584).

Please adcept, Excellency,

amended.

United States
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Signor 'Ambasciatore,

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b) - L’acclusa copia della Sezione 413 (b)(40 del

Mutual Security Act del 1954 e relativi emendainenti, sar^ sostituita alia copia finora acclusa al summenzionato scambio

di note;.

•/»• •

con lettera in data odierna V.E. ha voluto comunicarini quanto segue:

c) - Il sottoparagrafo B).del secondo paragrafo

non numerato del suanmenzionato scambio di note non sara ap -

!

Roma, 18 ottobre 195?

Ho I'onore di riferirmi alle conversazioni che

si sono recentemente avute tra i rappresentanti dei nostri

due. Governi su un ulteriore tipo di garanzia autorizzata dalla Sezione 413 (b)(4) del Mutual Security Act del 1954 e re -

lativi emendamenti. Ho altresi I'onore di confermarLe le in -

tese raggiunte in conseguenza di dette conversazioni come segue:

V.

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a") - Ogni riferimento alia "Sezione Iil(b)3 del -

I'Atto di cooperazione economica del 1948". contenuto nello

.scambio di letters del 28 dicembre 1951 tra i nostri due Govern! sar^ cambiato in quello di "Mutual Security Act del

1954 e relativi emendamenti"; '

if

Sua Eccellenza

James David ZELLERBACH

Ambasciatore degli Stati Uniti

d'America
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A ricezione di una nota di V.E. secondo la quale

»/ • • •

Ogni altra disposizione dello scambio di note del

.28 dicembre 1951 tra i nostri due Govern! rimarra interamente in vigors.

•

plicabile al tipo di garanzie contemplate nel seguente sottoparagrafo d);

d) - Se il Governo degli Stati.Uniti d'America ri -

lascia garanzie per coprire perdite dipendenti da cause di

guerra relative a investimenti in Italia, il Governo italia - . no e d'accordo nel riconoscere ai cittadini degli Stati Uni -

ti d'America, a cui queste garanzie sono state rilasciate, un

trattamento non meno favorevole di quello accordato in simi -

li circostanze ai propri cittadini o a cittadini di t.erzi Pa£

•Si per ogni rimborso, compenso, indennizzo od ogni altro pa -

gamento ivi compresa la distribuzione di riparazioni ricevu -

te da Paesi^nemici che il Governo italiano pud effettuare o

pagare per perdite incorse per cause di guerra; se il Governo degli Stami Unit! d'America effettua pagamenti in dollar!

U.S.A, a cittadini degli Stati Uniti d'America in relazione

ad una garanzia per perdite per cause di guerra, il.Governo

italiano riconoscerd. il trasferimento al Governo degli Sta -

ti Uniti d'America di ogni diritto, privilegio o interesse o

parte di essi eventualmente concessi a detti cittadini o di'

cui essi siano divenuti titolari in conseguenza del summen -

zionato trattamento accordato dal Governo italiano.
e

JIIfouiistro jariijkri -3-

E.

Ho I’onore di informai’La che il Govemo italiano e

d’accordo'su ciuanto precede.

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Signor Ambasciatore, per

.siderazione,.

l<i e grata I'occasione,

rinnovar-Le 1' espressione della irda alta c

4

le-suddette disposizioni. sono accettabili d.al-Governo. Italiano, il Governo degli Stati Unit! d’America considerer^. que -

ste note e la risposta ad esse da parte di V.E. qnal.e accordo tra i due Governi in laateria, restando inteso che I’accordo ehtrera in vigore alia data della nota di risposta di V.

IIII