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1 The Agreement dated April 8,1975 between the Government of theRepublic of Vietnam (hereinafter referred to as GVN) and the Go-vernment of the Republic of China (hereinafter referred to as GRC). DESCRIPTION OF THE LOAN Borrower: The Republic of Vietnam Lender: The Republic of China Representative of the GVN:The National Bank of Vietnam Representative of the GRC:The Central Bank of China Loan amount:Two hundred million New Taiwandollars (NT$200,000,000). Purpose of the loan:To finance the purchase from theRepublic of China of equipment, machinery and services within t- he framework of a program of ec- onomic development in the Repub- lic of Vietnem. Period of utilizstion:Within two years beginning fromthe date of this agreement. Terminal date of disbursement:Within six months from the finaldate of unilization. Repayments: Within fifteen (15) years fromthe date of this agreement incl- uding three (3) years of grace. Principal and interest to be pa- id semi-annually. Interest rate:Four per cent (4％) per annum.In accordance with the resolutions reached at the Ninth Sino-Vi-etnamese Economic Cooperation Conference, GRC agrees to extendloans to GVN under this, Loan Agreement containing the followingprovisions: Article 1:GRC agrees to lend to GVN, on the terms and conditionsset forth or referred to in this Loan Agreement, a pr- incipal amount up to the limit of TWO HUNDRED MILLION NEW TAIWAN DOLLARS (NT$200,000,000). Article 2:GVN designates the National Bank of Viet-Nam as its r-epresentative and agent for the purpose of any action required or permitted by this Loan Agreement. GVN sha- ll be fully responsible for the repayment of the prin- cipal and payment of the accrued interest. Article 3:GRC, represented by the Central Bank of China, design-ates the International Commercial Bank of China as its agent for the purpose of any action required or permi- tted by this Loan Agreement. Article 4:GRC, through its agent, the International CommercialBank of China, shall open a loan account on its books in the name of National Bank of Vietnam and shll cred- it to such accout the amount of the loan. Article 5:GVN shall pay interest at the rate of four per oent (4％) per annum on the amount of the loan disbursed and outstanding from time to time. Article 6:GVN shall pay to GRC a commitment fee computed on thebasis of the actual number of days elapsed at the rate of one half of one per cent (0.5％) per annum on the average daily unused amount of the loan from and incl- uding April 9,1975 to and including April 8,1977 or t- he date on which the loan is fully availed of, whiche- ver is earlier. Article 7:Interest and other charges shall be payable semi-annu-ally on June 20 and December 20 each year and shall be computed on the basis of 30 days for the month and 360 days for one year. Article 8:The principal amount of the Loan utilized during theperiod of utilization shall be repaid by GVN by 24 eq- ual semiannual installment payments to be made on June 20 and December 20 respectively of each year beginning from the fourth year after the signing of this agreem- ents as set forth in Appendix 1, or in accordance with the actual amount disbursed. Article 9:The last disbursement under the loan shall be made nolater than two and half years from the signing date of this agreement. Article 10:In case the principal of the loan is not disbursed inthe period of utilization, a reschedule of the unused portion shall be negotiated between GVN and GRC. The negotiation shall be conducted six month before the end of the period of utilization. Article 11:National Bank of Viet-nam through Commercial CreditBank of Viet-Nam shall forward to the International Commercial Bank of China copies of approval letters granting the loan to individual projects. Article 12:Disbursement of advances under the loan shall be madein the form of Irrevocable Letters of Credit opened in New Taiwan Dollars by the Commercial Credit Bank of Viet-nam as designated by National Bank of Viet-n- amand advised through the International Commercial B- ank of China. Upon disbursement, the advance shall i- mmediately constitute a valid obligation of GVN to G- RC. Article 13:After each disbursement of advances under the loan,the International Commercial Bank of China shall for- ward an advance notice to the National Bank of Viet- Name and Commercial Credit Bank of Viet-Nam. Article 14:Repayment of the principal and payment of accrued in-terest on the loan shall be made in New Taiwan Dolla- rs in Taipei. Article 15:The International Commercial Bank of China shall not-ify the National Bank of Viet-Nam of the date and the amount of principal and of interest due on the outst- anding portion of the loan. Article 16:Interest on the outstanding portion of the loan duri-ng the period of utilization shall be computed up to May 31 and November 30 of each year. The Internation- al Commercial Bank of China shall notify the National Bank of Viet-Nam and the Commercial Credit Bank of V- iet-Nam the amount of interest 15 days before the pa- yment date. Article 17:The loan shall be utilized for the purchase, in theRepublic of China, of equipment, machinery menufactu- red in the Republic of China and service within the framework of a program of economic development in the Republic of Vietnam, only those equipment, machinery and services included in the Appendix Ⅱ agreed to by GVN and GRC shall be eligible for financing under th- is Loan Agreement. However, the Appendix Ⅱ may be amended by an exchan- ge of letters between the Ministry of Trade and Supp- ly of GVN and the Ministry of Economic Affairs of GRC . Article 18:A certificate of origin shall be issued by competentauthorities or the Chamber of Commerce, and visaed by the Embassy of Vietnam in Taipei, and shall be one of the documents to be used in the documentary letter of credit. Article 19:In any of the following events. GRC of the Internati-onal Commercial Bank of China shall notify GVN or the Commercial Credit Bank of Vietnam of such events, and if no remedial measures are taken within 30 days from the date of such notification, GRC may suspend or te- rminate disbursement of advances under the Loan and／ or may declare all the principal then outstanding wi- th interest accrued thereon, due and payable immedia- tely by GVN. (1) If GVN should fail to repay the principal and pay the accrued interest in accordance with the repa- yment schedule set forth in this Loan Agreement. (2) If GVN should violate any of the provisions of t- his Loan Agreement apart from sub-section (1) ab- ove. Article 20:GVN shall pay all taxes, charges and other expenses,if any, imposed upon GRC or the International Commer- cial Bank of China within the territories of the Rep- ublic of Viet-nam in connection with this Loan Agree- ment and its implementation. Article 21:In case of failure to reach settlement on any dispute, controversy or difference of opinion arising from this Loan Agreement, arbitration shall be conducted by three arbitrators appointed in accordance with the provisions of the Arbitration Rule of the Internatio- nal Chamber of Commerce of Paris. Article 22:Amendment to this Loan Agreement, if any, shall be n-egotiated by both parties and shall be served by wri- tten notification to each other. Article 23:Any notice required or request made under this LoanAgreement shall be deemed to have been duly given or made when one of the following parties shall have be- en served with written notification: Representative of GRC The Central Bank of China 21 Pao ching Road Taipei, Taiwan Republic of China Cable address: GOVERNBANK, TAIPEI Representative of GVN The National Bank of Vietnam 17 Ben Chuong Duong Saigon Republic of Vietnam Cable address: BANVINA, SAIGON Article 24:This Loan Agreement shall come into force on the dateof its signing. IN WITNESS WHEREOF, the GRC and the GVN, acting through their r-epresentatives thereunto authorized, have caused this Loan Agre-ement to be duly executed in duplicate in the English languageand signed in their respective names. Done at Taipei, Republic of China, on this English day of Aprilin the year One Thousand Nine Hundred and Seventy-five. REPRESENTATIVE OF GRC (Signed) K. H. YU Governor The Central Bank of China REPRESENTATIVE OF GVN (Signed) NGUYEN VAN KIEU Ambassador Extraordinary and Plenipotentiary APPENDIX Ⅰ REPAYMENTS SCHEDULE Date Repayment dueAmount of Principal (NT$) June20,1978 8,333,333 December20,1978 8,333,333 June20,1979 8,333,333 December20,1979 8,333,333 June20,1980 8,333,333 December20,1980 8,333,333 June20,1981 8,333,333 December20,1981 8,333,333 June20,1982 8,333,333 December20,1982 8,333,333 June20,1983 8,333,333 December20,1983 8,333,333 June20,1984 8,333,333 December20,1984 8,333,333 June20,1985 8,333,333 December20,1985 8,333,333 June20,1986 8,333,333 December20,1986 8,333,333 June20,1987 8,333,333 December20,1987 8,333,333 June20,1988 8,333,333 December20,1988 8,333,333 June20,1989 8,333,333 December20,1989 8,333,341 APPENDIX Ⅱ The Loan to be utilized by Vietnamese Manufacturers and Agricul-tural Firms for importation and purchase from the Republic of C-hina of the following machineries, equipment as well as for acq-uisition of technical services related to plant construction: (1) Agricultural Machinery (power tiller and parts, agricultur-al implement, etc.) (2) Food Processing Machinery and Equipment (rice polishing ma-chine, threshing machine, machinery for processing and can- ning agricultural products, oil extraction equipment, etc.) (3) Machine Tools (lathe, drill, shaper, milling machine, grin-ding machine, punch press, etc.) (4) Textile Machinery any Equipment (weaving machine and parts,etc.) (5) Boilers (6) Other Processing Machinery (including galvanizing equipment, plastic injection molding machine, hydraulic press, prin- ting machine, etc.) (7) Machinery and Equipment for Chemical Industries. (8) Other Machinery and Equipment for Development of Industriesand Agriculture in the Republic of Vietnam, and (9) Plant Design and Installation or the above Machinery and E-quipment and related technical services. (10) Accessories and spare parts for Machinery and Equipment p-reviously imported from the Republic of China.