INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. January 7, 1948 [T. I. A. S. 16981 Modification of Lend-Lease Settle- ment Agreements. Effective date. Post, p. 1839. 60 Stat. 1540. Sales of British Stores Disposals Mis- sion. Post, p. 1838. Percentage, Lend- Lease interest. Post, p. 1838 . Agreement between the United States of America and the United Kingdom of Great Britain and Northern Ireland superseding in part the Agree- ment of March 27, 1946, respecting the settlement of lend-lease interest in future sales of surplus stores in the Middle East. Signed at London January7, 1948; entered into force January 7, 1948. AGREEMENT RELATING TO SETTLEMENT OF THE LEND- LEASE INTEREST IN FUTURE SALES OF SURPLUS STORES IN THE MIDDLE EAST. The Government of the United States of America and the Govern- ment of the United Kingdom of Great Britain and Northern Ireland hereby agree:- (a) that as from 15th July, 1947, this Agreement shall supersede in the Middle East (as defined in Appendix 'A') paragraphs 7 and 8 of Agreement IV relating to Military Holdings of the Wash- ington Specific Agreements dated 26th [l] March, 1946, with the exceptions specified in paragraph 7 below, but shall not in any other respect modify the terms of the Lend-Lease Settle- ment Agreements; (b) that on and after 15th July, 1947, the Lend-Lease interest in the proceeds of sales of the British Stores Disposals Mission (Middle East) (hereinafter referred to as "the British authori- ties") of surplus stores in the Middle East shall be discharged in accordance with the following conditions:- 1. As soon as possible after the end of each month, up to and includ- ing June 1948, the British authorities shall deduct from the gross total value of contracts (excluding any contracts under paragraph 7 of this Agreement) entered into during the month (a) Customs Duty, Excise Tax and other dues relative thereto, and (b) Seven and one-half per centum of the resultant balance, to cover contractual contingencies, and shall pay over to the Government of the United States, in the currencies of the territories in which the stores are situated, an agreed percentage of the resultant net figures. Amounts due for sales made in sterling shall be computed at the exchange rates in use by the British Army at the time of payment. 2. The agreed percentage representing the Lend-Lease interest shall be fifteen per centum in the case of sales of stores situated in Egypt as of the date of execution of the contract of sale, and nine per centum in the case of sales of stores situated in Iraq as of the date of execution 'The correct date is Mar. 27, 1946. 1836
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