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Investment Agreements in the Western Hemisphere: A Compendium

Bilateral Free Trade Agreements


IV. Transfers | B. Convertibility and Exchange Rates

Free Trade Agreement Between Bolivia and Mexico

Each Party shall permit transfers to be made in a freely convertible currency at the exchange rate prevailing on the market on the date of transfer. (Article 15-08(2)). Notwithstanding the provisions of this Article, each Party may establish temporary controls on foreign exchange transactions, provided the balance of payments of the Party is in disequilibrium and that there is a program implemented with internationally accepted criteria. (Article 15-08(4)).

Free Trade Agreement Between Costa Rica and Mexico

Each Party shall permit transfers to be made in a freely convertible currency at the exchange rate prevailing on the market on the date of transfer. (Article 13-09(2)).

Notwithstanding the provision of Article 13-09, each Party shall have the right, when experiencing serious or unusual balance of payments difficulties, to temporarily limit transfers, in an equitable and nondiscriminatory manner, in accordance with internationally accepted criteria. One Party shall be promptly notified by the other Party of the limitations it has adopted or maintained in accordance with this paragraph, as well as their elimination. (Article 13-09(4)) .

Free Trade Agreement Between Canada and Chile

Except as provided in Annex G-09.1, each Party shall permit all transfers relating to an investment of an investor of the other Party in the territory of the Party to be made freely and without delay. (Article G-09(1)).

Each Party shall permit transfers to be made in a freely usable currency at the market rate of exchange prevailing on the date of transfer with respect to spot transactions in the currency to be transferred. (Article G-09(2)).

Notwithstanding paragraphs 1 and 2, a Party may prevent a transfer through the equitable, non-discriminatory and good faith application of its laws relating to:

a) bankruptcy, insolvency or the protection of the rights of creditors;
b) issuing, trading or dealing in securities;
c) criminal or penal offenses;
d) reports of transfers of currency or other monetary instruments; or
e) ensuring the satisfaction of judgments in adjudicatory proceedings. (Article G-09(4)).

 
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