Subject: Specific clause in the IST contract to ease financing
From: Morlon Carmen (morlon@nblc.nl)
Date: Wed 13 Mar 2002 - 13:59:05 EET
Dear all,
Please find here a clause which can be included in the IST contract
addressing the issue of volatile currency rates. Potential partners from
Mediterranean countries, NIS, non-associated CEEs and developing
countries should pay attention to the very useful "special clause"
quoted below (as it appears in the IST International Co-operation
Newsletter, Volume 01, Issue04, October 2001)
Regards,
Carmen
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12.A The following provisions shall apply to contractors from
Mediterranean countries, New Independent States, non-associated Central
and Eastern European countries and developing countries:
Article 4(2) point (a) of Annex II to this contract shall be replaced by
the following:
"Cost statements shall be expressed in euro and in the national currency
used in the accounting system of the contractor. The euro conversion and
exchange rates for cost statements and related payments shall be the
rates published by the Commission and in force on the day of recording
the invoice or any other document supporting the cost item in the
contractor's accounts. No account shall be taken of exchange rate gains
or losses between the time of establishment of the cost statement and
the receipt of the corresponding payment".
For further information email Jean Yves Roger at
jean-yves.roger@cec.eu.int.
Carmen Morlon
EU Information Officer
EBLIDA
PO BOX 43300
NL-2504 AH The Hague
The Netherlands
Tel.: +31 70 309 06 08
Fax: +31 70 309 07 08
Email: morlon@nblc.nl
http://www.eblida.org
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