ALCA FTAA ZLEA - Investment: Transfers - Grenada/United States

Free Trade Area of the Americas - FTAA

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Investment Agreements in the Western Hemisphere: A Compendium

Treaty Between Grenada and United States
2 May 1986

Subject: IV. Transfers

A. Types of Payment

1. Returns
Yes. Each Party shall permit all transfers related to an investment to be made freely and without delay into and out of its territory. Such transfers include: a) returns; b) compensation pursuant to Article III; c) payments arising out of an investment dispute; d) payments made under a contract, including amortization of principal and accrued interest payments made pursuant to a loan agreement; e) proceeds from the sale or liquidation of all or any part of an investment; and f) additional contributions to capital for the maintenance or development of an investment. (Article IV (1)).

2. Repayment of Loans
Yes. (Article IV (1) (d))

3. Proceeds of Total or Partial Liquidation of an Investment
Yes. (Article IV (1) (e)).

4. Licenses and Other Fees

5. Other Categories of Payments Yes. (Article IV (1) (b), (c), (f)).

B. Convertibilty and Exchange Rates

1.Currency
Except as provided in Article III (1), transfers shall be made in a freely convertible currency at the prevailing market rate of exchange on the date of transfer with respect to spot transactions in the currency to be transferred. (Article IV (2)).

2. Exchange Rates
Except as provided in Article III (1), transfers shall be made in a freely convertible currency at the prevailing market rate of exchange on the date of transfer with respect to spot transactions in the currency to be transferred. (Article IV (2)).

3. Time of Transfer
Each Party shall permit all transfers related to an investment to be made freely and without delay into and out of its territory. (Article IV (1)). Notwithstanding the provisions of paragraphs 1 and 2 of Article IV, either Party may maintain laws and regulations (a) requiring reports of currency transfer; and (b) imposing income taxes by such means as a withholding tax applicable to dividends or other transfers. Furthermore, either Party may protect the rights of creditors, or ensure the satisfaction of judgments in adjudicatory proceedings, through the equitable, nondiscriminatory and good faith application of its law. (Article IV (3)).


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