ALCA FTAA ZLEA - Investment: Transfers

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Investment Agreements in the Western Hemisphere: A Compendium

Agreement Between Chile and Guatemala
November 8, 1996

Subject: IV. Transfers

A. Types of Payment

1. Returns
Yes. Each Contracting Party shall authorize, without delay, investors of the other Contracting Party to transfer funds related to investments, and returns in a freely convertible currency, in particular, but not exclusively:

a) interests, dividends, incomes, profits and other yields;
b) amortization of loans;
c) proceeds of the sale or of the total or partial liquidation of an investment;
d) payments arising out of an investment dispute. (Article V (1)).

2. Repayment of Loans
Yes. (Article V (1) (b)).

3. Proceeds of Total or Partial Liquidation of an Investment
Yes. (Article V (1) (c)).

4. Licenses and Other Fees

5. Other Categories of Payments Yes. (Article V (1) (a), (d)).

B. Convertibilty and Exchange Rates

1.Currency
The transfer shall authorize, without delay, investors of the other Contracting Party to transfer funds related to investments, and returns in a freely convertible currency. (Article V(1)).

2. Exchange Rates
The transfer shall be effected in a convertible currency at the rate in effect in the market on the date of transfer, in accordance with the legislation of the Contracting Party which has admitted the investment. (Article V (2)).

3. Time of Transfer
The transfer shall authorize, without delay, investors of the other Contracting Party to transfer funds related to investments, and returns in a freely convertible currency. (Article V(1)).

The capital invested shall be allowed to be transferred only one year after the date of entry, unless the legislation of the Contracting Party accords a more favorable treatment. (Protocol, Ad. Article V).

The expression "without delay" means the normal period of time necessary to fulfill the formalities for the transfer. This period of time shall begin the day when the request, accompanied by the necessary documents, has been presented but shall, in no case, exceed one month. (Protocol, Ad. Article V).


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Investment Agreements in the Western Hemisphere: A Compendium

Agreement Between Chile and Guatemala November 8, 1996

Subject: IV. Transfers

Agreement Between Chile and Guatemala
November 8, 1996