AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED STATES OF AMERICA AND THE JAPANESE GOVERNMENT FOR AMENDMENT TO THE
EXISTING SURPLUS PROPERTY AGREEMENTS
The Government of the United States of America, hereinafter referred to as "United States", and the Japanese Government, hereinafter referred to as "Japan", hereby agree to amend as follows the terms of payment now provided in:
A. The letter of September 3, 1946, from the United Statesto Japanregarding the sale of surplus property on terms of credit (hereinafter referred to as "credit letter");
B. Contract No.W-ANL (TO-V)-502, dated March 13, 1948, between the Unites Statesand Japan;
C. Contract No.W-ANL (TO-V)-503, dated July 20, 1948, also between the United Statesand Japan;
D. Contract No.W-ANL (TO-V)-504, dated January 28, 1949, also between the United Statesand Japan;
1. At the request of the United States, through and with the consent of the appropriate Occupation authorities, Japanwill, in payment of any part of the unpaid balance of such amounts as any be owing under the aforementioned credit letter and contracts, authorize and direct the competent agency of the Japanese Governmentto ;
A. Deliver to the United Statesproperty, located in Japan. either real or personal, tangible or intangible, in accordance with contracts agreed to by the United Statesand the Japanese seller ;
B. Improve any property in with the United Stateshas an interest ;
C. Deliver to the United StatesJapanese currency for the payment of any or all expenditures of the United Statesin Japan.
2. The United Statesmay use part of any funds available under the provisions of this agreement for educational programs for the benefit of citizens of both countries.
3. Using the rate of exchange specified in Article 4below in appropriate cases, the United Stateswill credit the unpaid balance owing by Japanunder the aforesaid credit letter and contracts with the agreed dollar value of such property, improvements to property, or Japanese currency as may delivered to the United Statesby Japanin accordance with Article 1. The United Stateswill apply such credits first against the amount owing under the aforesaid credit letter and next against the under balances owing under the aforesaid contracts numbered W-ANL (TO-V)-502,-503, and -504.
4. The reate of exchange for each transaction under this agreement, for which a rate of exchange is required, shall be the lawful rate mutually agreeable to both parties available at the time of each transaction, provided that if a lawful unitary exchange rate has been established, such rate shall be applicable, and provided further if both countries have agreed par values with the International Monetary Fund, such rate is not prohibited by the articles of agreement of such Fund.
5. The terms of payment provided herein shall be in addition to any such terms heretofore provided.
6. The provisions of Articles 1 and 2above will constitute the sole form of payment by Japanof obligations owing under the said credit letter and aforesaid contracts, without prejudice to any terms of payment or use that may be mutually agreed upon in the future.
7. Any unpaid balance owing by Japanunder the aforesaid credit letter and contracts at the time that the Occupation of Japanis terminated, will be paid in accordance with terms to be arranged as part of the Japanese peace settlement.
IN WITNESS WHEREOF the parties hereto by their duly authorized representatives have affixed their signatures hereto, in triplicate, at Tokyo, Japan, on this third day of May 1949.
For the Japanese Government: For the Government of the
United State of America:
/s/ Shigeru Yoshida /s/ W. J. Sebald
Minister for Foreign Affairs W. S. Sebald
Special Commissioner, Office of the
Foreign Liquidation Commissioner
/s/
Director General
Board of Trade
The foregoing Agreement was negotiated through and with the permission of General Headquarters of the Supreme Commander for the Allied Powers.
Tokyo, Japan /s/ W. F. Marquat
W. F. Marquat
May 7, 1949 Major General, U.S. Army
Chief, Economic & Scientific Section