Page:United States Statutes at Large Volume 63 Part 2.djvu/644

 63 STAT.] JIULTILAT'ERAL-TELEC)MMUINICATIONS-OCT. 2, 1947 1941 (Chapter XV, art. 41 RR) (*M9-45) which becomes obligatory for the debtor Administration un der the conditions fixed by 989. Adjustments subsequently agreed upon are included in a later quarterly settlement. 989 § 17. The quarterly account must be verified and the amount must be paid within a period of six weeks dating from the day on which it is received by the debtor administra- tion. Beyond this period, the sums due to one administration by another are subject to interest at the rate of six per cent per annum reckoned from the day following the date of ex- piration of the said period. 990 § 18. (1) The balance of the quarterly account in gold francs is paid by the debtor administration to the creditor admin- istration, by a sum equivalent to its value; this payment may be effected: 991 a) at the choice of the debtor administration, in gold or by means of cheques or drafts fulfilling the conditions prescribed in 994 and 995 and payable at sight on the capital or on a commer- cial centre of the creditor country; 992 b) by agreement between the two administrations, through the intermediary of a bank clearing through the Bank of International Settlements at Basle; 993 c) by any other means agreed upon between the ad- ministrations concerned. 994 (2) In the case of payment by means of cheques or drafts, these instruments are drawn in the money of a country where the central bank of issue or other official institution of issue buys and sells gold or gold currency for the national money at fixed rates determined by law or by virtue of an agreement with the government. 995 (3) If the currencies of several countries fulfil these conditions, the creditor administration indicates the currency which is convenient to it. The conversion is effected at the gold par rate.

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