Consumers (-U), not seasonally adjusted; U.S. Department of Labor, Bureau of Labor Statistics”] (2) Remuneration paid in local currency pursuant to the rates set forth in Appendix D shall be adjusted every months [insert number] (and, for the first time, with effect for the remuneration earned in the calendar month after the date of the [insert number]the Contract) by applying the following formula: {or } where is the adjusted remuneration; Rl is the remuneration payable on the basis of the remuneration Rlo rates (Appendix D) in local currency; is the official index for salaries in the country for the Il Client’s first month for which the adjustment is to have effect; and is the official index for salaries in the country for the Ilo Client’s month of the date of the Contract. The Client shall state here the name, source institution, and any necessary identifying characteristics of the official index for salaries corresponding to and in the adjustment formula for Il Ilo remuneration paid in local currency: [Insert the name, source institution, and necessary identifying characteristics of the index for foreign currency] (3) Any part of the remuneration that is paid in a currency different from the currency of the official index for salaries used in the adjustment formula, shall be adjusted by a correction factor is the number X0/X. X0 of units of currency of the country of the official index, equivalent to one unit of the currency of payment on the date of the contract. is the X number of units of currency of the country of the official index, equivalent to one unit of the currency of payment on the first day of the first month for which the adjustment is supposed to have effect. 43.1 and 43.2 [The Bank leaves it to the Client to decide whether the Consultant (i) should be exempted from indirect local tax, or (ii) should be reimbursed by the Client for any such tax they might have to pay (or that the Client would pay such tax on behalf of the Consultant] The Client warrants that [choose one applicable option consistent with the ITC 16.3 and the outcome of the negotiations (Form Contract’s FIN-2, part B “Indirect Local Tax – Estimates”):
Consumers (-U), not seasonally adjusted; U.S. Department of Labor, Bureau of Labor Statistics”] (2) Remuneration paid in local currency pursuant to the rates set forth in Appendix D shall be adjusted every [insert number] months (and, for the first time, with effect for the remuneration earned in the [insert number]the calendar month after the date of the Contract) by applying the following formula: {or } where Rl is the adjusted remuneration; Rlo is the remuneration payable on the basis of the remuneration rates (Appendix D) in local currency; Il is the official index for salaries in the Client’s country for the first month for which the adjustment is to have effect; and Ilo is the official index for salaries in the Client’s country for the month of the date of the Contract. The Client shall state here the name, source institution, and any necessary identifying characteristics of the official index for salaries corresponding to Il and Ilo in the adjustment formula for remuneration paid in local currency: [Insert the name, source institution, and necessary identifying characteristics of the index for foreign currency] (3) Any part of the remuneration that is paid in a currency different from the currency of the official index for salaries used in the adjustment formula, shall be adjusted by a correction factor X0/X. X0 is the number of units of currency of the country of the official index, equivalent to one unit of the currency of payment on the date of the contract. X is the number of units of currency of the country of the official index, equivalent to one unit of the currency of payment on the first day of the first month for which the adjustment is supposed to have effect. 43.1 and 43.2 [The Bank leaves it to the Client to decide whether the Consultant (i) should be exempted from indirect local tax, or (ii) should be reimbursed by the Client for any such tax they might have to pay (or that the Client would pay such tax on behalf of the Consultant] The Client warrants that [choose one applicable option consistent with the ITC 16.3 and the outcome of the Contract’s negotiations (Form FIN-2, part B “Indirect Local Tax – Estimates”):
WB_SRFP_(Apr_2015).docx