제19261호                              관              보               2018. 5. 23.(수요일)
     (j) all taxes, customs duties and other fiscal charges imposed in the Republic of the
        Philippines on goods and services provided by the suppliers and/or consultants for the
        implementation of the projects under the Loan Agreements shall be assumed by the
        Philippine Government through the Borrower.
2.   The revision of any principle stated in paragraph 1 of this Article may be made by written
agreement with the mutual consent of the two Governments, and shall be set out in the Loan
Agreements.
                                             Article 4
     Should the Loan allocated to a project be insufficient for the implementation of the project,
the Borrower shall take responsibility to provide such funds as shall be needed.
                                             Article 5
     The Loans shall be disbursed by the Bank to the Borrower, or to the suppliers and/or
consultants on behalf of the Borrower, in accordance with the disbursement procedures under the
Loan Agreements.
                                             Article 6
     The Korean Government, through the Bank, and the Philippine Government, through the
Borrower, mutually agree to further negotiate the specific terms and conditions of the Loan
Agreements in line with this Arrangement.
                                             Article 7
     This Arrangement may be amended by the mutual written consent of the two Governments.
Any such amendment shall become effective on the date agreed upon by the two Governments
and shall not affect the validity of any Loan concluded/executed prior to such amendment unless
otherwise agreed by the two Governments.
                                             Article 8
     Any dispute arising out of the interpretation or implementation of this Arrangement shall be
settled amicably through negotiations between the two Governments.
                                             Article 9
1.   This Arrangement shall enter into force on the date of signature and shall remain in force
until 2022, unless otherwise agreed by the two Governments in accordance with Article 7.
2.   Either Government may terminate this Arrangement at any time by notification to the other
Government through diplomatic channels. The termination shall take effect six (6) months from
the date of the notification of termination to the other Government.
3.   Obligations outstanding at the time of the termination of this Arrangement shall nonetheless
be completed in accordance with the provisions of this Arrangement, unless otherwise agreed by
the Korean Government.
     IN WITNESS WHEREOF, the undersigned, being duly authorized by their respective
Governments, have signed this Arrangement.
     Done in duplicate at Manila, on this 4th day of May, 2018, in the Korean and English
languages, both texts being equally authentic. In case of divergence of interpretation, the English
text shall prevail.
FOR THE GOVERNMENT OF                                     FOR THE GOVERNMENT OF
THE REPUBLIC OF KOREA                                     THE REPUBLIC OF THE PHILIPPINES

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