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Steering Group's Requirement
(g) Cases of 'force majeure' must be clearly defined
and limited.
Present Indications (as at 20th July 1973)
Japanese
Italian
A/F/G
British
Negotiable
Negotiable
Negotiable
Negotiable
IV.
Payment Terms
(a)
Exact payment terms required by the consortium must be defined.
Not fully
Yes
Not fully
Not fully
(b) Payments, once made, must not be subject to further
escalation.
Not applicable
Agreed
Agreed
Not agreed
f
V. Export Credits/Consortium Finance
Having regard to III(f) above:
(a) the amount should be a minimum of 60% of the
final contract price;
Yes
Tes
Yes
Yes
(b)
interest and charges should not exceed 6.5% p.a. all-in;
Not known
Yes
No
Yes (?)
(c)
the grace period should be at least equal to the construction period for Stages 1-4;
Yes
Yes
Negotiable
Yes
(a)
(e)
the repayment period should be at least 12 years; the method of repayment should preferably be on a Sinking Fund basis;
Yes
Negotiable
No (9 years)
Negotiable
Yes
Yes
Negotiable
Negotiable
(f) capitalisation of interest:
(i)
must be available over the full grace period, and
Yes
Negotiable
Negotiable
Yes
(ii)
should be at no higher interest rate and no shorter repayment period than for the capital sum;
No
Negotiable
Negotiable
Yes
(g)
a Government guarantee must not be required.
Required
Not required
Not required Not required
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