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Investment Agreements in the Western Hemisphere: A Compendium

Agreement Between El Salvador and Peru
June 13, 1996

Subject: IV. Transfers

1.Currency
Each Party shall permit the transfer, without delay, in a freely convertible currency, at the exchange rate applicable on the date of transfer. (Article 8 (2)).

2. Exchange Rates
Each Party shall permit the transfer, without delay, in a freely convertible currency, at the exchange rate applicable on the date of transfer. (Article 8 (2)).

3. Time of Transfer
Each Party shall permit that all transfers related to an investment of an investor of a Contracting Party be done freely and without delay. (Article 8(1)).

Notwithstanding Article 8 (1) and (2), a Party may prevent transfers through the equitable and non-discriminatory application of its legislation in the following cases:

a) bankruptcy and insolvency;
b) penal or administrative offenses;
c) ensuring the satisfaction of judgments in adjudicatory proceedings;
d) unfulfillment of tax obligations;
e) unfulfillment of labor obligations. (Article 8(3)).

Notwithstanding the provisions of Article 8, a Party may establish temporary controls with respect to exchange operations, when the balance of payments of a Party has an important disequilibrium. (Article 8 (4)).
 
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