- 1
- The Designated Airline(s) of each Contracting Party shall be entitled to transfer, from the Territory of sale to their home Territory, all local revenues in excess of local expenditures in the Territory of sale, of the sale of air transport and associated activities directly linked to Air Services. Included in such net transfer shall be revenues from sales, made directly or through agents, of Air Services and ancillary or supplemental services, and normal commercial interest earned on such revenues while on deposit awaiting transfer.
- On a basis of reciprocity, the conversion and remittance of such revenues shall be permitted without restriction at the rate of exchange applicable to current transactions which is in effect at the time such revenues are presented for conversion and remittance, and shall not be subject to any charges except those normally made by banks for carrying out such conversion and remittance.
- 2
- The Designated Airline(s) of each Contracting Party shall receive approval for such transfer within the shortest term, preferably thirty (30) days of application, into any currency, at the official rate of exchange for conversion of local currency, as at the date of sale.
- 3
- The Designated Airline(s) of each Contracting Party shall be entitled to effect the actual transfer upon receipt of approval.
