Common use of Amounts expressed in euro Clause in Contracts

Amounts expressed in euro. 1. For the application of the provisions of Article 16.1(b) in cases where products are invoiced in a currency other than euro, amounts in the national currencies of the Member States of the European Union equivalent to the amounts expressed in euro shall be fixed annually by the EU Party and submitted to Korea. 2. A consignment shall benefit from the provisions of Article 16.1(b) by reference to the currency in which the invoice is drawn up, according to the amount fixed by the EU Party. 3. The amounts to be used in any given national currency of the Member States of the European Union shall be the equivalent in that currency of the amounts expressed in euro as at the first working day of October. The European Commission shall notify Korea of these amounts by 15 October and these amounts shall apply from 1 January the following year. 4. The Member States of the European Union may round up or down the amount resulting from the conversion into their national currency of an amount expressed in euro. The rounded-off amount may not differ from the amount resulting from the conversion by more than five percent. The Member States of the European Union may retain unchanged their national currency equivalent of an amount expressed in euro if, at the time of the annual adjustment provided for in paragraph 3, the conversion of that amount, prior to any rounding-off, results in an increase of less than 15 percent in the national currency equivalent. The national currency equivalent may be retained unchanged if the conversion would result in a decrease in that equivalent value. 5. The amounts expressed in euro shall be reviewed by the Customs Committee at the request of a Party. When carrying out this review, the Customs Committee shall consider the desirability of preserving the effects of the limits concerned in real terms. For this purpose, it may decide to modify the amounts expressed in euro.

Amounts expressed in euro. 1. For the application of the provisions of Article 16.1(b22(1)(b) and Article 27(3) in cases where products are invoiced in a currency other than euro, amounts in the national currencies of the Member States Turkey, of Israel and of the European Union other countries referred to in Articles 3 and 4 equivalent to the amounts expressed in euro shall be fixed annually by each of the EU Party and submitted to Koreacountries concerned. 2. A consignment shall benefit from the provisions of Article 16.1(b22(1)(b) or Article 27(3) by reference to the currency in which the invoice is drawn up, according to the amount fixed by the EU Partycountry concerned. 3. The amounts to be used in any given national currency of the Member States of the European Union shall be the equivalent in that currency of the amounts expressed in euro as at the first working day of October. The European Commission Turkey and Israel shall notify Korea of these provide each other with the relevant amounts by 15 October and these those amounts shall apply from 1 January the following year. 4. The Member States of the European Union A country may round up or down the amount resulting from the conversion into their its national currency of an amount expressed in euro. The rounded-off amount may not differ from the amount resulting from the conversion by more than five percent5 %. The Member States of the European Union A country may retain unchanged their its national currency equivalent of an amount expressed in euro if, at the time of the annual adjustment provided for in paragraph 3, the conversion of that amount, prior to any rounding-off, results in an increase of less than 15 percent % in the national currency equivalent. The national currency equivalent may be retained unchanged if the conversion would result in a decrease in that equivalent value. 5. The amounts expressed in euro shall be reviewed by the Customs Joint Committee at the request of a PartyTurkey or of Israel. When carrying out this review, the Customs Joint Committee shall consider the desirability of preserving the effects of the limits concerned in real terms. For this purpose, it may decide to modify the amounts expressed in euro.

Amounts expressed in euro. 1. For the application of the provisions of Article 16.1(b) in cases where products are invoiced in a currency other than euro, amounts in the national currencies of the Member States of the European Union equivalent to the amounts expressed in euro shall be fixed annually by the EU Party and submitted to Korea. 2. A consignment shall benefit from the provisions of Article 16.1(b) by reference to the currency in which the invoice is drawn up, according to the amount fixed by the EU Party. 3. The amounts to be used in any given national currency of the Member States of the European Union shall be the equivalent in that currency of the amounts expressed in euro as at the first working day of October. The European Commission shall notify Korea of these amounts by 15 October and these amounts shall apply from 1 January the following year. 4. The Member States of the European Union may round up or down the amount resulting from the conversion into their its national currency of an amount expressed in euro. The rounded-off amount may not differ from the amount resulting from the conversion by more than five percent. The Member States of the European Union may retain unchanged their its national currency equivalent of an amount expressed in euro if, at the time of the annual adjustment provided for in paragraph 3, the conversion of that amount, prior to any rounding-off, results in an increase of less than 15 percent in the national currency equivalent. The national currency equivalent may be retained unchanged if the conversion would result in a decrease in that equivalent value. 5. The amounts expressed in euro shall be reviewed by the Customs Committee at the request of a Party. When carrying out this review, the Customs Committee shall consider the desirability of preserving the effects of the limits concerned in real terms. For this purpose, it may decide to modify the amounts expressed in euro.. Title VI Arrangements for Administrative Co-operation