Amendment to universal postal service price Convention, of 09.07.2010
ICP - Autoridade Nacional de Comunicações and CTT - Correios de Portugal, S.A. (ICP - National Communications Authority and CTT - Portuguese Post Office, S.A.)
Amendment to the Universal Postal Service Price Convention entered into on 10 July 2008 between ICP - Autoridade Nacional de Comunicações and CTT - Correios de Portugal, S.A. (ICP - National Communications Authority and CTT - Portuguese Post Office, S.A.)
Whereas, pursuant to article 14 of Law number 102/99, of 26 July, as amended by Decree-Law number 116/2003, of 12 June, and by clause 24 of the Universal Postal Service Concession Agreement, signed on 1 September 2000, as amended on 9 September 2003 and on 26 July 2006, the Universal Postal Service Price Convention was concluded, on 10 July 2008, between ICP - Autoridade Nacional de Comunicações and CTT - Correios de Portugal, S.A., being in force since 1 January 2008;
Whereas in 2009 a negative inflation rate was recorded, a situation which the Parties could not have foreseen at the time the referred Universal Postal Service Price Convention was concluded,
Between the parties:
a) ICP - Autoridade Nacional de Comunicações, hereinafter referred to as ICP-ANACOM;
b) CTT - Correios de Portugal, S.A., hereinafter referred to as CTT;
the following amendment to the above-mentioned Universal Postal Service Price Convention is hereby agreed, as an inherent part thereof, being governed by the following Article:
Amendment to the Universal Postal Service Price Convention, of 10 July 2008
Point l) of article 3 of the Universal Postal Service Price Convention, of 10 July 2008, is hereby amended to read as follows:
''l) CPI adjustment factor (CPIAF) - corresponds, in 2008, to the difference between the inflation value for 2007, published by the INE, and the level of inflation officially expected for 2007 by the Government and referred to as such in the State Budget Report for 2007. In subsequent years, it corresponds to the difference between the inflation value projected in the State Budget Report of a given year for the previous year and the inflation value expected for the previous year pursuant to point k), this difference being subject to an upper limit of 2,5%. In case the State Budget Report of a given year fails to mention the inflation value foreseen for the previous year, this value shall be replaced by the value, in September of the referred previous year, of the average variation of the consumer price index in the last twelve months, published by the INE. The inflation value to be considered in the State Budget Report of a given year for the previous year corresponds to zero where the referred Report projects a below-zero inflation rate for the previous year and, cumulatively, the inflation value expected for the previous year pursuant to point k) is positive.''
Lisbon, 9 July 2010,
ICP - Autoridade Nacional de Comunicações
CTT - Correios de Portugal, S.A
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