Artikel 7

1. Where, under this Agreement, the institution of one Contracting Party is liable to pay sums in refund of costs borne by the institution of another Contracting Party, its liability shall be expressed in currency of the second Party. The first institution may validly discharge its liability in that currency, unless the Contracting Parties concerned have agreed on other arrangements.
2. Transfers of funds which result from the application of this Agreement shall be effected, if such exist, in accordance with the relevant agreements in force between the Contracting Parties concerned at the date of transfer. Where no such arrangements exist, specific agreements should be concluded between the Parties concerned.