DRAFT TELEGRAM TO HONG KONG
PRESENT STERLING GUARANTEE
PA
41
-3/E
이프
LASI
30
REF.
•
NEXT
REF
Your telno 375 to Barratt.
2.
grealting
We regret that there has been misunderstanding
on the accidental breach provision. But we do not
departe kalim
thrak
but
Sed in
have much to add to para 2 of our telno 309 of
March. The only provision for accidental breaches
is that set out in para 2 of our telno 1209 of
26 November 1973. This is the same provision as
that extended to many other participants in the
present arrangement, and we are aware of no other
i cases in which it has led to misunderstanding or
A
difficulty.
3. As to the position at the end of this month, we
would be prepared to compensate on the basis set out
in para 3 of our telno 309 but, in the light of your
telno 375, with an adjustment to take account of
interest accruals during March. We take it that in
calculating the amount of sterling which you purchased
in March under your interpretation of the accidental
breach provision, you will have taken account of
1