제15679호                             관                      보                    2004. 4.27. (화요일)

    short-term lending at the time the payment             reason, the WTO undertakes to reimburse to

    was due plus one and a half percentage                 the Donor any unused balance of the

    point.                                                 Contribution in Swiss Francs within three
7. Subject to paragraph 3 above, the WTO shall             months, unless otherwise agreed with the
  make available to the Donor all relevant                 Donor.
  factual and financial information, including a                                 Annex II
  yearly statement of accounts, concerning the                             Arbitration clause
  execution         of   this   Memorandum    of                to be used together with the Permanent
  Understanding. The accounting period of                           ourt of Arbitration Optional Rules
  reference will be calendar year.                               for Arbitration Involving International
8. All declared expenses in the yearly statement                        Organizations and States

  of accounts shall be supportedin the WTO               1.     Upon    mutual     consent,     any   dispute,

  bookkeeping records by original documents                controversy or claim arising out of or relating

  (invoices, vouchers, contracts, order forms,             to    the    interpretation,      application    or

  tickets, etc.).                                          performance        of   this     Memorandum      of

9. Interest earned on the Donor’s contribution             Understanding, including its existence,

  shall be identified as such and shown in the             validity or termination, which was not solved

                                                           amicably in accordance with Article 10 of this
  financial reports and statements of accounts.
                                                           Memorandum of Understanding, shall be
10. Financial transactions and financial
                                                           referred to arbitration. The arbitration shall be
  statements shall be subject to internal and
                                                           final and binding and conducted in accordance
  external auditing procedures laid down in the
                                                           with the Permanent Court of Arbitration
  WTO Financial Rules and Regulations. A copy
                                                           Optional Rules for Arbitration Involving
  of the audited statements shall be submitted to
                                                           International Organizations and States, as in
  the Donor by the WTO.
                                                           effect on the date of this Memorandum of
11. The Donor may decide to give a specific
                                                           Understanding.
  mandate to the external auditor of the WTO
                                                         2. The number of arbitrators shall be three.
  for the control of the expenses incurred under
                                                         3. The language to be used in the arbitral
  this Memorandum of Understanding. In such a
                                                           proceedings shall be English.
  case, the Donor shall bear the cost of the
                                                         4. The appointing Authority shall be the
  audit.                                                   Secretary-General of the International Bureau
12. Upon expiration or termination of this                 of the Permanent Court of Arbitration, The
  Memorandum of Understanding for any                      Hague, The Netherlands.

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