61 id. to 354. As Mr Broches said, Article 102 of the United Nations Charter provides for the registration of “all international treaty and agreement” at 353 of the Charter of the United Nations. World Bank loan contracts and guarantee agreements with members are registered with the United Nations in accordance with this provision. Id. 14 See International Bank for Reconstruction and Development, terms and conditions for loan and guarantee agreements – dated 1 January 1985, paragraph 5.08 [below IBRD 1985 general terms]. How these terms and conditions of sale are included in a particular loan agreement is discussed in the text under and infra 27-44 below. 134 See p.B. International Chamber of Commerce, pub 500, uniform customs and practice for Documentary Credits (Rev. 1994); International Chamber of Commerce, Incoterms 1990 (1990) (a series of internationally consistent sales conditions that define costs, risks and functions for parties to international transactions). A number of general principles relating to construction contracts, which are a pillar of MDB loans, are included in FIDIC`s contractual terms.
See International Federation of Consulting Engineers, Contract Terms (International) for Construction Work (3d. 1977), reprinted in 2 Commercial Transactions, supra note 89, at 421. For the purposes of this paragraph, a state-owned enterprise is considered competitive only if it operates independently in a competitive market environment and is not subject to bankruptcy law. 78 bros, supra Note 2, at 345. In practical terms, “the interpretation of the agreement depends on international law, the rights of the parties take effect under international law and the remedies available to assert those rights will be the rights available under international law.” Scott, supra note 46, at 190. The applicability of international law is relevant to the terms of arbitration in the Terms and Conditions. Although these provisions “do not contain standards or proposals to guide arbitrators in their decision,” it can be assumed that “arbitrators, such as the International Court of Justice, would be attentive to international practices and general principles of law recognized by civilized nations.” 191-92. 107 See, in general, the European Bank for Reconstruction and Development, general terms and conditions of sale (March 1994) [hereafter the EBRD March 1994. Section 1.01 of the STCs states that “[d]ny Bank loan agreement or guarantee agreement for a transaction that is provided or secured to a member of the Bank may provide that the parties to this agreement accept the provisions of these terms and conditions of sale.” 1.01. As confirmed by other provisions of CSC, this opening section makes TCCs of general application (subject to changes in some transactions) to any agreement with a party that has a financial commitment to the EBRD as part of a public sector loan; That is, applicable (1) to the loan agreement if the loan is granted to the Member State and (2) for both the loan contract and the guarantee contract, where the loan is granted to an entity other than the Member State (for example). B, a public company) and guaranteed by the Member State.Back to Blog