- 1
- Each Designated Airline shall have the right to convert and remit to its country, on demand, at the official rate of exchange, the excess of receipts over expenditures achieved in connection with the carriage of traffic. In the absence of appropriate provisions of a payments agreement between the Parties, the above-mentioned transfer shall be made in convertible currencies and in accordance with the national laws and foreign exchange regulations applicable.
- 2
- The conversions and remittance of such revenues shall be permitted without restrictions at the rate of exchange applicable to current transactions on the day on which the Airline enters into the exchange transaction with the authorized entity, and shall not be subject to any charges except those normally made by banks for carrying out such conversion and remittance.
