42nd Meeting - Montreal, March-April 2004

Document UNEP/OzL.Pro/ExCom/42/47:  presents information provided by the Executive Director of UNEP concerning a final draft agreement between UNEP and the Executive Committee.  The highlighted sections in the final draft agreement indicate clauses where amendments/deletions are proposed by UNEP.

• Clause 1.4 requiring UNEP to seek contributions from other donors;
• Clause 1.8 requiring UNEP to design and manage a transparent system for encashment of promissory notes which maximizes benefits to the Multilateral Fund and the issuing Party; and
• Clause 3.1 indicating an annual fee of US $500,000 per year fixed for five years

The Executive Committee might consider whether it wishes to amend or to endorse the final draft agreement containing UNEP’s suggested amendments.