Artikel 3

(a). Subject to Article 4, the provisions of the present Agreement shall apply to any debt owed by a person resident in Turkey, as original debtor or guarantor, to a person resident in a creditor country (which persons are hereinafter called, respectively, “debtor” and “creditor”) provided that:
(i) the debt arises in respect of a contract relating to the import of goods or a transaction relating to services, duly authorised by the Turkish authorities;
(ii) the goods were delivered or the services rendered before 5th August, 1958; and
(iii) payment in respect of the debt is due or falls due before 1st January, 1964.
(b). The term “debt” shall equally include any contractual interest thereon due or falling due before 1st January, 1964, as well as contractual moratorium interest which has fallen due before the date of the signature of the present Agreement.