Executive Agreement Series No. 73
Claims Agreement Between the United States of America and Turkey, Signed at Ankara, October 25, 1934 40
The Government of the United States of America and the Government of the Republic of Turkey, being desirous of effecting an amiable, expeditious and economical adjustment of the claims embraced by the Agreement concluded by them through an exchange of notes dated December 24, 1923, and confirmed by an Agreement through an exchange of notes dated February 17, 1927, have resolved to conclude the present Agreement for that purpose, and have appointed as their plenipotentiaries:
[Page 934]The President of the United States of America
Fred Kenelm Nielsen,
and
The President of the Republic of Turkey
Dr. Tevfik Rüştü Bey, Deputy of Izmir, Minister of Foreign Affairs of the Republic of Turkey,
Who, having communicated their full powers, found to be in good and due form, have agreed as follows:
Article I
The Government of the Republic of Turkey will pay to the Government of the United States of America the sum of $1,300,000 (one million three hundred thousand dollars) of the United States of America, without interest, in full settlement of claims of American citizens which are embraced by the Agreement of December 24, 1923. Payment of this sum will be made in thirteen annual installments of $100,000 (one hundred thousand dollars). Payment of the first installment will be made on June 1, 1936, following the ratification of the present Agreement by the Grand National Assembly of Turkey.
Article II
The two Governments agree that, by the payment of the aforesaid sum, the Government of the Republic of Turkey will be released from liability with respect to all of the above-mentioned claims formulated against it and further agree that every claim embraced by the Agreement of December 24, 1923, shall be considered and treated as finally settled.
Article III
The present Agreement shall be effective from the date of its signature, subject to the ratification of the Agreement by the Grand National Assembly of Turkey.
Done at Ankara in duplicate in the English and Turkish languages, which have the same value, this twenty-fifth day of October, nineteen hundred and thirty-four.
- In English and Turkish; the Turkish text was signed by Tevfik Rüstü Bey.↩