Artikel VII

To enable the Corporation to fulfill its purpose and the functions with which it is entrusted, the status, immunities, exemptions and privileges set forth in this Article shall be accorded to the Corporation in the territories of each member country.
The Corporation shall possess juridical personality and, in particular, full capacity:
(a) to contract;
(b) to acquire and dispose of immovable and movable property; and
(c) to institute legal and administrative proceedings.
(a) Actions may be brought against the Corporation only in a court of competent jurisdiction in the territories of a member country in which the Corporation has an office, has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities. No action shall be brought against the Corporation by members or persons acting for or deriving claims from member countries. However, such countries or persons shall have recourse to such special procedures to settle controversies between the Corporation and its member countries as may be prescribed in this Agreement, in the by-laws and regulations of the Corporation or in contracts entered into with the Corporation.
(b) Property and assets of the Corporation shall, wheresoever located and by whomsoever held, be immune from all forms of seizure, attachment or execution before the delivery of final judgment against the Corporation.
Property and assets of the Corporation, wheresoever located and by whomsoever held, shall be immune from search, requisition, confiscation, expropriation or any other form of taking or foreclosure by executive or legislative action.
The archives of the Corporation shall be inviolable.
To the extent necessary to enable the Corporation to carry out its purpose and functions and to conduct its operations in accordance with this Agreement, all property and other assets of the Corporation shall be free from restrictions, regulations, controls and moratoria of any nature, except as may otherwise be provided in this Agreement.
The official communications of the Corporation shall be accorded by each member country the same treatment that it accords to the official communications of other members.
All Governors, Executive Directors, Alternates, officers, and employees of the Corporation shall have the following privileges and immunities:
(a) Immunity from legal process with respect to acts performed by them in their official capacity, except when the Corporation waives this immunity;
(b) When not local nationals, the same immunities from immigration restrictions, alien registration requirements and military service obligations and the same facilities as regards exchange provisions as are accorded by a member country to the representatives, officials, and employees of comparable rank of other member countries; and
(c) The same privileges in respect of traveling facilities as are accorded by member countries to representatives, officials, and employees of comparable rank of other member countries.
(a) The Corporation, its property, other assets, income, and the tions and transactions it carries out pursuant to this Agreement, shall be immune from all taxation and from all customs duties. The Corporation shall also be immune from any obligation relating to the payment, withholding or collection of any tax or duty.
(b) No tax shall be levied on or in respect of salaries and emoluments paid by the Corporation to officials or employees of the Corporation who are not local citizens or other local nationals.
(c) No tax of any kind shall be levied on any obligation or security issued by the Corporation, including any dividend or interest thereon, by whomsoever held: (i) which discriminates against such obligation or security solely because it is issued by the Corporation; or
(ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Corporation.
(i) which discriminates against such obligation or security solely because it is issued by the Corporation; or
(ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Corporation.
(d) No tax of any kind shall be levied on any obligation or security guaranteed by the Corporation, including any dividend or interest thereon, by whomsoever held: (i) which discriminates against such obligation or security solely because it is guaranteed by the Corporation; or
(ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Corporation.
(i) which discriminates against such obligation or security solely because it is guaranteed by the Corporation; or
(ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Corporation.
Each member country, in accordance with its juridical system, shall take such action as is necessary to make effective in its own territories the principles set forth in this Article and shall inform the Corporation of the action which it has taken on the matter.
The Corporation in its discretion may waive any of the privileges or immunities conferred under this Article to such extent and upon such conditions as it may determine.