5. When a member has reached an agreement with the Fund covered in point 3, the Fund uses the currencies of other members assigned to that member in accordance with point 2 (d) to pay the member`s currency, the other members who have entered into agreements with the Fund under 3, under 3. Each amount thus collected is cashed in the currency of the member to whom it has been allocated. No. 4188 – Agreements between Roger Watkinson and William Mason regarding the sale of a property in Walkeringham from Watkinson to Mason; 1. April 1775 2. If the Fund`s holdings in the member`s currency that pay are not sufficient to pay the net amount owed by the Fund, the balance is paid into a freely usable currency or otherwise, although agreed upon. If the Fund and the outgoing member fail to reach an agreement within six months of the date of withdrawal, the currency in question, which the Fund holds, is immediately paid to the outgoing member. The balance payable is paid in ten semi-annual instalments over the next five years. Each of these tranches is paid, at the Fund`s choice, either in the outgoing member`s currency acquired at the exit of the fund, or in a freely usable currency. Notwithstanding the provisions of other articles of this agreement, a member who informed the Fund that he was considering the use of transitional provisions under this provision may maintain restrictions on payments and transfers of ongoing international transactions as of the date of entry into the agreement and adapt to changing circumstances. However, in their exchange rate policy, members are constantly attentive to the Fund`s objectives and, as soon as conditions permit, they take all possible steps to develop trade and financial agreements with other members facilitating international payments and promoting a stable exchange rate system. In particular, members remove the restrictions in this section as soon as they are satisfied that, in the absence of such restrictions, they will be able to pay their balance of payments in a manner that does not place undue pressure on their access to the Fund`s general resources.
2. If the commitment that remains at the Fund`s expense after the imposition under Article XXIV, Section 2, Point b), and no agreement is reached within six months of the closing date, the terminating member commits to it within three years of the end or within the longer period set by the Fund. The terminating participant fulfils this obligation, for example: (a) by paying a currency freely usable to the Fund, or b) by obtaining special drawing rights in accordance with Article XXIV, Section 6, of the General Resource Account, or in agreement with a participant designated by the Fund or another holder, and by compensating for these special drawing rights. In addition to commitments made with respect to special drawing rights arising from other articles of this agreement, each participant undertakes to cooperate with the Fund and other participants to ensure the proper functioning of the Underwriting Rights Department and the correct use of special drawing rights in accordance with this agreement and to make the Special Drawing Right the main reserve asset of the international monetary system. The ICSID Convention came into force through a multilateral agreement and came into force on 14 October 1966. Agreements have often been established in advance of a lease or transportation contract. They defined the conditions to be included.