Application of the convention's terms to letters of credit, direct demand guarantees and similar undertakings needs to be adjusted.

To assure that the expected results are reached, the language in article 2, paragraph 2 should be clarified in the commentary that undertakings such as letters of credit, stand bys and demand guarantees, as distinct from documents to be presented under them for payment, are not excluded by article 2.

9. The scope of application of the Convention is confined to instruments of the type understood in practice as independent guarantees (referred to as, e.g., quot demand quot , quot first demand quot , quot simple demand quot or quot bank quot guarantees) or stand by letters of credit (article 2(1)).

Replacing the term presented in the chapeau and subparagraph (b), which can have specific meaning in those areas of practice, with made available will avoid the implication that e documents can be presented to support payment where not so authorized by the terms of the letter of credit or demand guarantee or other independent undertaking.

If the demand is determined to be conforming, payment is to be made promptly, or at any later time stipulated in the undertaking.

10. In the undertakings covered by the Convention the guarantor issuer promises to pay the beneficiary upon a demand for payment.

Implementation of a non cash payments system in Kosovo is near completion.

Claims are paid in instalments and are made as soon as sufficient income has accumulated in the Compensation Fund.

(3) Payment request

The communication is provided in the annex to the present document.

For the text of the Message, see annex III.

40. As regards the beneficiary, the process of demanding and obtaining payment involves presenting a demand for payment and any accompanying documents in accordance with the terms of the undertaking.

The Panel noted that in cases where the insurers verified the policies, claimants frequently claimed for amounts significantly in excess of the insured figures.

(iii) Payment to Governments payment letters to troop contributing countries for reimbursement of troop costs (100)

I have the honour to transmit herewith the report of Burkina Faso on the implementation of United Nations resolutions concerning sanctions against Al Qaida and the Taliban (see annex).

With regard to the new proposal of the Committee on Contributions that the deadline for payment of assessed contributions should be set at 35 days from the date of issuance instead of 30 days from the date of receipt, it was not certain that assessment letters would be received by all missions on the date of their issuance.

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I would be grateful if you could arrange for the present letter and its annex to be circulated as a document of the Security Council.

Provides the United Nations Compensation Commission with an independent, professional advisory opinion on auditing and investigative matters regarding 79 D claims where the Commission had found indications of a high risk of overpayment.

The full text of the proposed amendment is attached hereto.

V. PRESENTATION OF DEMAND AND PAYMENT

We give, and you take.

The need for financial guarantees to cover claims for compensation could not be overemphasized.

In respect of paragraph (2), it was pointed out that in some legal systems the payment of certain categories of claims (such as fines and other pecuniary sanctions, or claims whose payment was deferred) were ranked lower than unsecured non priority claims.

Decides that, for the purposes of computing payment only, this claim shall be considered as 82 separate claims of managing agents and insurance companies and that the unpaid amounts be paid in future rounds of payment with the other claim awards being paid in accordance with decision 197 (S AC.26 Dec.197 (2003)), as extended by decision 227 (S AC.26 Dec.227 (2004)), and decision 253 (S AC.26 Dec.253 (2005)).

In that regard, it was noted by a few representatives that letters of request for payment had not been received in their countries and that care should be taken to ensure that those letters were sent to the competent authorities.

B. Examination of demand and payment

Not even if she paid you well?

Information on how to contribute can be obtained from the secretariat at

In regard to public access to records, it has been ensured that any document for which vetting has been completed will be available immediately.

One of these claims competes with a previously paid category C claim the others compete with previously paid category D claims.

Nevertheless, the claims of foreign creditors other than those concerning tax and social security obligations shall not be ranked lower than identify the class of unsecured non preference claims, while providing that a foreign claim is to be ranked lower than the unsecured non preference claims if an equivalent local claim (e.g. claim for a penalty or deferred payment claim) has a rank lower than the unsecured non preference claims .

The said communication has been circulated in document E CN.4 1996 158.

The guarantor issuer apos s obligation to pay is triggered by the presentation of a demand for payment in the form, and with any supporting documents, as may be required by the independent guarantee or stand by letter of credit.

44. If a decision is taken not to pay, the guarantor issuer is required to promptly so notify the beneficiary, indicating the grounds therefor (article 16(2)).

The car was never delivered to the Claimant.

An amount of 15,500 had been obligated to cover potential claims.

The 1995 edition will soon be sent to press.

It is the Board's view that in order to ensure that payments are eventually made to claimants, Member States should include all relevant information related to those payments.

Once issued, the undertaking is available for payment in accordance with its terms and is irrevocable.

A comprehensive analysis of communications sent can be found in Addendum 1.

Also included in this report is one E2 claim, that is a claim submitted by a non Kuwaiti corporation, public sector enterprise or other private legal entity (excluding oil sector, construction engineering, export guarantee insurance and environmental claimants) (the E2' claim ).

In paragraph 43 of the report, the Administration agreed with the Board's recommendation that it review accounts payable with abnormal balances to ensure that they are promptly adjusted in the books or recovered if they represent overpayments.

The Committee appreciates the assurances provided by the State party that the views of the Committee expressed in communications Nos. 480 1991 and 481 1991 are being dealt with.

E 1 claims, tenth instalment