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

Free Trade Area of the Americas - FTAA

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Investment Agreements in the Western Hemisphere: A Compendium

Treaty Between Haiti and the United States
13 December 1983

Subject: IV. Transfers

A. Types of Payment

1. Returns
Yes. Each Party shall permit all transfers related to an investment in its territory of an national or company of the other Party to be made freely and without delay into and out of its territory. Such transfers include the following: a) returns; b) compensation; c) payments made arising out of a dispute concerning an investment; d) payments made under a contract, including amortization of principal and accrued interest payments made pursuant to a loan agreement; e) amounts to cover expenses relating to the management of an investment; f) royalties and other payments derived from licenses, franchises or other grants of rights or from administrative or technical assistance agreements, including management fees; g) proceeds from the sale of all or any part of an investment and from the partial or complete liquidation of the company concerned, including any incremental value; h) additional contributions to capital necessary or appropriate for the maintenance or development of an investment. (Article V (1)).

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

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

4. Licenses and Other Fees
Yes. (Article V (1) (f)).

5. Other Categories of Payments Yes. (Article V (1) (b), (c), (e), (h)).

B. Convertibilty and Exchange Rates

1.Currency
To the extent that a national or company of either Party has not made another arrangement with the appropriate authorities of the other Party in whose territory the investment of such national or company is situated, currency transfers made pursuant to Article V (1) shall be permitted in a currency or currencies to be selected by such national or company. (Article V (2)).

2. Exchange Rates
Except as provided in Article III, such transfers shall be made at the prevailing market rate of exchange on the date of transfer with respect to spot transactions in the currency or currencies to be transferred. (Article V (2)).

3. Time of Transfer
Each Party shall permit all transfers related to an investment in its territory of a national or company of the other Party to be made freely and without delay into and out of its territory. (Article V (1)). Notwithstanding paragraphs 1 and 2 of Article V, 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 V (3)).


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