The Governments of the Republic of Indonesia, Malaysia, the Republic of the Philippines, the Republic of Singapore and the Kingdom of Thailand;
BEING members of the Association of Southeast Asian Nations (hereinafter referred to as "ASEAN").
DESIRING to accelerate and intensify the implementation of the aims and purposes of ASEAN as embodied in the ASEAN Declaration.
AND RECOGNIZING the desirability of and the necessity for a fund to finance joint projects approved by the Foreign Ministers of ASEAN.
DO HEREBY AGREE AS FOLLOWS:
(b) Contributions to the Fund shall be determined in United States dollars. Each member country may make contributions of equivalent amount in its national currency or in United States dollars or in both.
(b) At the end of every quarter, or in the event of a member country changing the value of its' national currency, it shall make such adjustments in its own contribution as well restore the balance of its national fund to its equivalent value in United States dollars at the close of business on the day prior to the adjustments.
(c) For the purpose of calculating the amount of national currency contribution, replenishment, adjustment or reimbursement to the national fund, the rate of conversion shall be the par value of the currency of each member country as declared with the International Monetary Fund.
(d) In cases where the national currency of a member country does not have a par value declared with the international Monetary Fund, the rate conversion of the national currency of that country shall be based on such rate of exchange at the close of business on the day prior to the date when the contribution, replenishment, adjustment or reimbursement is to be made as determined by the ASEAN Standing Committee upon consultation, if necessary, with the international Monetary Fund.
The control, disbursement and accounting of the Fund shall be in accordance with the rules contained in the Annex here to.
Any member country may propose an amendment to the provisions of this Agreement or to the rule's contained in the Annex hereto. Such amendment shall only come into force after it has been accepted by all the other member countries.
This Agreement shall enter into force on the date of signature by all the member countries and shall remain in force until it is terminated by the decision of all the Foreign Ministers.
Accession to this Agreement shall take effect from the date on which the instrument of accession is deposited in the Ministry of Foreign Affairs, Malaysia, by the new member of ASEAN.
A Contracting Party may at any time give formal notice of its intention to withdrawal from this Agreement and such withdrawal shall take effect one year from the date of the notification of the Ministry of Foreign Affairs, Malaysia, which shall as soon as possible notify all the other member countries.
IN WITNESS WHEREOF the undersigned, being duly authorized thereto by their respective governments, have signed this Agreement.
DONE at Cameron Highlands, in a single copy in the English Language this Seventeen day of December, 1969.
(b) Routine expenditures for work undertaken by the Standing Committee of ASEAN, Heads of ASEAN National Secretariats and Committee Meetings of ASEAN;
(c) Exchange of and provision for experts;
(d) Exchange of trainees; and
(e) Study tours.
These costs will include all administrative costs such as rents, utilities, office requisites, salaries of the locally engaged general service personnel and insurance and will include certain expenditures of a capital nature such as expenditures on lands and building.
(b) Operational Costs
These costs comprise all other costs of the Approved Projects including programme costs, recruitment costs, salaries and allowances of the professional staff engaged in the Approved Projects.
(b)The system of accounts currently used by the Government of each member country shall be followed for the accounting of the national fund.
(c) The financial year for the national fund shall commence on lst January and shall end on 31st December.
(b) All payments from the national fund shall be made on the certification of the joint Management Committee. Such certification shall be made in the form prescribed in Appendix "A" and supported by all relevant documents.
(b) Settlement of claims for reimbursement shall be made in United States dollars within one month of the receipt of the Claims.
(b) The Annual Financial Statement shall include an income and expenditure account for the financial year and a balance sheet as at the end of the financial year.
c) The ASEAN Standing Committee shall submit a Consolidated Annual Report to the Foreign Ministers.
(b) A quorum for the meeting of the joint Management Committee shall be a majority of the representatives of the members.
(c) The Joint Management Committee shall establish its own rules and procedures on the convening and operation of its meetings and other matters relevant to its function.
(d) The Joint Management Committee shall submit annual estimates of expenses for the operation and maintenance of the Approved Projects under its supervision, through the ASEAN National Secretariat, to the ASEAN Standing Committee for approval by the Foreign Ministers.
(e) The Joint Management Committee shall submit quarterly progress reports for each Approved Project and such additional reports as may be required by the ASEAN Standing Committee.
(f) The procurements of comparable goods and services shall be grouped for the purposes of tenders or bids. The Joint Management Committee shall call for tenders or bids for all procurements of goods and services exceeding US$ 2,500. All other procurements costing US$ 2,500 or less shall be at the discretion of the Joint Management Committee.
(g) Except as otherwise decided the joint Management Committee shall invite tenders or bids from within the member countries.
(h) The Joint Management Committee shall give preference to tenders or bids from nationals of member countries subject to the following conditions:
(i) that the tenderers are financially and technically capable and have the capacity to carry out the stipulations to the satisfaction of the joint Management Committee;
(ii) that the goods and services are of the standard required;
(iii) that the Joint Management Committee is not obliged to accept the lowest tenders or bids; and
(iv) that the Joint Management Committee may seek such professional advice from any source on technical or other matters affecting the tenders or bids as may be necessary.