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Exchange of Notes constituting an Agreement amending the Protocol between the Government of Canada and the Government of the Russian Federation concerning Questions relating to Credits for Deliveries of Capital Goods and Services to the Russian Federation from Canada, done at Ottawa on April 28, 1992 [1995] CATSer 25 (25 October 1995)

E100677 - CTS 1995 No. 33

EXCHANGE OF NOTES CONSTITUTING AN AGREEMENT AMENDING THE PROTOCOL BETWEEN THE GOVERNMENT OF CANADA AND THE GOVERNMENT OF THE RUSSIAN FEDERATION CONCERNING QUESTIONS RELATING TO CREDITS FOR DELIVERIES OF CAPITAL GOODS AND SERVICES TO THE RUSSIAN FEDERATION FROM CANADA, DONE AT OTTAWA ON APRIL 28, 1992

I

The Canadian Ambassador to the Minister of Finance of the Russian Federation

October 23, 1995

His Excellency Vladimir G. Panskov
Minister of Finance
Ministry of Finance of the Russian Federation
Moscow

Excellency,

I have the honour to refer to the Protocol between the Government of Canada and the Government of the Russian Federation concerning questions relating to the Line of Credit Agreement for deliveries of capital goods and services to the Russian Federation from Canada, done at Ottawa on April 28, 1992 (hereinafter called the "Protocol"), and to propose that Articles V and VI of the Protocol be amended as set out in the attachment to this Note.

If the foregoing is acceptable to the Government of the Russian Federation, I have the honour to propose that this Note, which is equally authentic in English and French, and your Note in reply shall constitute an Agreement to amend the Protocol which shall enter into force on the date of your reply.

Accept, Excellency, the assurances of my highest consideration.

Yours sincerely,

Jeremy K. B. Kinsman

Ambassador

ARTICLE V

Allocation of the credit may be made within 24 months from the date of signature of the Line of Credit Agreement by the Vnesheconombank and the Export Development Corporation. Extensions to the allocation period may be made from time to time by way of amendments to the Line of Credit Agreement between the Vnesheconombank and the Export Development Corporation.

ARTICLE VI

The length of the repayment term of the credit shall be established for each contract, depending inter alia on the type of capital goods and/or services purchased and the amount of the purchase, and shall consist, of from 3 to 10 years or such other repayment term as agreed to between the Vnesheconombank and the Export Development Corporation.

II

The Ministry of Finance of the Russian Federation to the Embassy of Canada

(Translation)

The Ministry of Finance of the Russian Federation presents its compliments to the Embassy of Canada and has the honour to inform as following.

The Ministry of Finance of the Russian Federation agrees with changes suggested by the Canadian side relatively Articles V and VI of Protocol between the Government of Canada and the Government of the Russian Federation of the 28th of April 1992 connected to the Agreement on the credit line for delivery of industrial goods and services for the Russian Federation from Canada, namely:

ARTICLE V

Allocation of the credit may be made within 24 months from the date of signature of the Line of Credit Agreement by the Vnesheconombank and the Export Development Corporation. Extensions to the allocation period may be made from time to time by way of amendments to the Line of Credit Agreement between the Vnesheconombank and the Export Development Corporation.

ARTICLE VI

The length of the repayment term of the credit shall be established for each contract, depending inter alia on the type of capital goods and/or services purchased and the amount of the purchase, and shall consist of from 3 to 10 years or such other repayment term as agreed to between the Vnesheconombank and the Export Development Corporation.

Thus according to the suggestion made by you in the letter of the Canadian Embassy of the 23d of October of 1995 the current letter of the Ministry of Finance of the Russian Federation is a supplement to the Protocol and comes into force from the 25th of October of 1995.

Sincerely yours,

V. G. Panskov