I
Gezantschap der Nederlanden
Mexico, February 7th, 1946
Your Excellency,
With reference to the conversations that have taken place between us regarding the compensation to be paid, through the Government of the United Kingdom, to Netherlands subjects affected, in respect of certain petroleum industrial properties in the United States of Mexico by acts of expropriation or otherwise in their properties, rights and interests, subsequent to March 17th, 1938 by the Government of Mexico, I have the honour to propose that an agreement should be entered into by our respective Governments in the following terms: —
1. Each of the two Governments will appoint, within the thirty days following the date of this note, an expert whose duty it shall be to undertake a final estimate of the rights and interests of Netherlands subjects in and relative to such petroleum industrial properties in Mexico affected by acts of the Government of Mexico subsequent to March 17th, 1938, as may be determined by mutual agreement between the two Governments.
2. In order that it may be possible to determine the value of the said rights and interests of Netherlands subjects, the experts appcinted in accordance with the preceding paragraph, shall proceed to the valuation of the properties, rights and interests in Mexico with respect to which the said rights and interests of Netherlands subjects exist.
3. The experts, in accordance with the procedure and in the manner set out in this Agreement, shall determine an adequate valuation of the said properties, rights and interests basing this upon their value at the time when they were affected by acts of the Government of Mexico. In arriving at this valuation the experts shall ignore considerations of a technical character and shall proceed on a basis of justice and equity.
4. The experts shall also fix an equitable interest which shall be calculated on the valuation arrived at in accordance with the preceding paragraphs; this interest shall accrue as from the date fixed by the experts.
