text: representation ofthetwosides. 34. Inparticularly complex transactions thatrequire ongoing monitoring andcoordination, theparties maywishtoestablish inthecountertrade agreement ajointcoordination committee. Itisadvisable thattheparties address issuessuchasthefrequency andlocation ofmeetings, representation ofthetwosides,themannerinwhichtheresults ofthemeetings willbe reported andthemandate ofthecommittee. Themandate ofsuchacommittee wouldtypically betoassessprogress intheimplementation ofthe transaction, analysedifficulties andconsider possible solutions, establish working groupsforspecific problems, andconsider proposals toamendthe countertrade agreement. 2.Confirmation offulfilment ofcountertrade commitment 35. Theparties mayagreethatthepurchaser hasarighttoobtainfrom thepartytowhomthecountertrade commitment isowed awritten confirmation ofthefulfilment ofthecountertrade commitment. Suchaconfirmation may taketheformofastatement fromthesupplier (sometimes referred toasa "letter ofrelease"). Theparties mayagreethattheletterofreleaseisa condition forpayment underthesupplycontract concluded infulfilment of thecountertrade commitment (e.g.,theletterofcredittermsmayspecify thattheletterofreleaseistobe among thedocuments presented tothebank inordertoobtainpayment). Fulfilment ofthecountertrade commitment may alsobeconfirmed by aclauseinthesupplycontract stating thatthe contract isconcluded infulfilment ofthecountertrade commitment. 36. Written confirmation offulfilment isintended toavoid disagreements, whichmayoccurafteraparticular supplycontract hasbeen performed, astowhether thecontract countstowards fulfilment ofthe countertrade commitment. Written confirmation mayalsobehelpful toaparty whowishestodemonstrate (e.g.,innegotiating othercountertrade agreements) arecordoffulfilling countertrade commitments. 37. Wherewritten confirmations areenvisaged inamultiparty transaction (seechapter VIII,"Participation ofthirdpersons", paragraphs to),it isadvisable thatthecountertrade agreement indicate whether thefulfilment ofthecommitment istobeconfirmed bythesupplier ofthegoodsorbythe partytowhomthecommitment isowed.Absentsuchanindication, a disagreement mayarisebetween thepurchaser andthepartytowhomthe commitment isowedastothesignificance ofastatement by athird-partyA/CN.9/332/Add.8 English Page10 supplier thatasupplycontract fulfils thecountertrade commitment, or ofa clause·inasupplycontract withathird-party supplier to.that.effect. 3.Evidence accounts 38. Theparties mayagreethattheirmutualshipments ofgoodsaretobe recorded inaledgerkeptby.themselves, by abankorby acontrolling authority. Suchaledgerisreferred tohereinas.an"evidence account", a termfrequently usedinpractice. Anevidence accountisnotapayment mechanism. Rather,itisusedonlyfo·rrecording theconclusion,performance andvalue.o.fsupplYcontracts ,withfinancing andpayment beingarranged independently. Withanevidence account, theparties undertake a countertrade commitment of.agivenvalueandthenconclude supplycontracts inthetwodirections without havingtonegotiate acountertrade commitment foreachindividual supplycontract. Evidence accounts mayaccommodate multiple parties on oneorbothsides. Anevidence account maybe particularly usefulinalong-term countertradetransaction tomonitor the cumulative valueofthepurchases inthetwodirections andthereby toassist theparties indealing withimbalances thatmaydevelop. 39. Theuseofanevidence account may besubject togovernmental regulations. Suchregulations maydetermine themannerinwhichanevidence accountistooperate andrequire administration oftheaccount by a controlling authority suchasthecentral bankorforeign tradebank.An evidence account administered by acontrolling authority mayprovide the purchaser accesstoawidervariety ofcountertrade goodsandtrading partners thanmightbeavailable without anevidence account administered by thecontrolling authority. Government regulations mayalsorequire authorization ofevidence accounts. Itmay beprovided thatsuch
analysis: This text appears to be discussing the mechanics of international trade, specifically countertrade agreements and the recording of goods transactions. It mentions supply contracts, payment mechanisms, and government regulations, suggesting a focus on economic and commercial activities.