Publication: Magyar Közlöny
Issue: MK-2010-48 (Year: 2010, Number: 48)
Era: contemporary
Section: A Kormány 94/2010. (III. 31.) Korm. rendelete
Paragraph Index: 21

c) In case the Hungarian Party agrees, it will, through diplomatic channels, confirm in writing the contract approved by the Party of Bosnia and Herzegovina. Article 6 Disbursement of the concessional credits Detailed conditions of the concessional credits provided to finance the projects accepted by the Contracting Parties are to be stipulated in the particular credit agreements between the borrowers authorised by the Presidency of Bosnia and Herzegovina on the one part and Eximbank as the creditor on the other. Eximbank,for the accountof its ownresources,lends,up to the amountof credit lineagreed inthe presentAgreement, concessional credits to the borrowers authorised by the Council of Ministers of Bosnia and Herzegovina for the realisation of the accepted projects. The measure of the financing is 100 per cent of the value of the accepted projects and the amount of the grant element. Commercial and political risks of the tied aid credits will be insured by the Hungarian Export Credit Insurance Pte. Ltd. (further on: MEHIB). Eximbank and MEHIB, in accordance with the international obligations, notify beforehand their intention to lend tied aid credits related to the particular projects. After successful execution of the procedure of approval Eximbank gives notes to the investor and the exporter, and the Contracting Parties, respectively. Article 7 Conditions of particular credit agreements The Council of Ministers of Bosnia and Herzegovina issues a sovereign guarantee approved by the Legislation according to the law of Bosnia and Herzegovina as a security for the credits, for its interests and for its additional charges based on the present tied aid credit line in the case of every project for the purposes of repaying the principal, interests and additional charges of the credits or accepts payment obligations equal to a sovereign guarantee, issued – in case of the sovereign guarantee – on condition that the borrower authorised by the Presidency of Bosnia and Herzegovina itself for any reason does not fulfil its payment obligations based on the particular credit agreement. Bosnia and Herzegovina shall indicate the amount of its payment obligation actual in the year in its state budget. Eximbank and MEHIB shall conclude a credit insurance contract complying with the conditions fixed by the Hungarian law in force. Article 8 Taxes, fees The Contracting Parties are obliged to pay the taxes,fees and other publicchargesarisingon the basisof the execution of the present Agreement in their own country, howeverthe Party of Bosniaand Herzegovina states that it will not levy out any customs duties, taxes or other costs on the projects financed under the present Agreement. These costs – if any – cannot be paid from the individual tied aid credits and they cannot be separated. Costs arising during the particular credit agreements shall be paid by the Parties of the credit agreements in their own country and they cannot be charged on the individual tied aid credits. During the reimbursementof the loanand the payment of the interest the amounts to be paid cannotbe decreased by the tax levied by Bosnia and Herzegovina or other amounts arising as a result of other payment obligations. Article 9 Dispute Settlement TheContractingPartiesshallsettleanydisputeinconnectionwiththeAgreementinthecourseofdirect negotiations. Article 10 Jurisdiction For the particular credit agreements jurisdiction of the Republic of Hungary shall be binding. Article 11 Closing Provisions

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