Annexure "A"
                                                                                                                   (PARA 10,CH. XIV)

(TO BE SUBMITTED IN DUPLICATE)

The Joint Director (Investment),
Foreign Exchange Department,
State Bank of Pakistan,
Central Directorate,
Karachi.

THROUGH:_________________________________
              (Name of the Authorized Dealer)

Dear Sir,

ACKNOWLEDGEMENT OF AGREEMENT FOR TRANSFER OF
TECHNOLOGY (ROYALTY/TECHNICAL ASSISTANCE):

In terms of Para 10 (a) (II), Chapter XIV of the Foreign Exchange Manual (1992 Edition) we submit two sets of the agreements duly authenticated for remittance of _Royalty / Technical fee (Strike out whichever not applicable) executed on _________________ with M/s. __________________________________  (Name and Address of Foreign Collaborator)   for your acknowledgement. The salient features of the agreement are as under:-

  1. Type of industry with location.

  2. Total Royalty/Technical Fee payable.

  3. Duration of Agreement/period covered.

  4. Mode of Payment:-
    a. Lumpsum/rate of installment.
    b. Amount of down payment, if any.
    c. Recurring payment with rate, if any.

We further undertake that:-

  1. The remittances effected under the Agreement will be net of taxes.

  2. Engagement of foreign nationals will be subject to the Government Regulation and permission of the Board of Investment will be obtained wherever necessary.

  3. The services of the national carrier (PIA) will be utilized for the experts’ journey from abroad to Pakistan and back upto the maximum possible extent.

  4. Payment on account of training expenses of Pakistan personnel will not exceed the training quota enunciated in Para-22, Chapter XVII of the Foreign Exchange Manual (1992 Edition).

  5. The agreement would be governed under Pakistan Laws.

  6. No Penal interest on delayed payment will be remitted.

We further state that our Firm / Company is registered in Pakistan as manufacturing concern.

________________________________________________________________

STATE BANK OF PAKSITAN
FOREIGN EXCHANGE DEPARTMENT
(INVESTMENT DIVISION)
KARACHI.

NO.INT: /                                                                          Dated:_____________

The Agreement in question has been acknowledged subject to understanding vein above and subject to submission of documents for post facto checking in terms of Para-10 (III), Chapter XIV of the Manual ibid.

                                                                                                             p. DIRECTOR.

The Manager,
____________________Bank Limited,
____________________

 

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