An importing Party Sample Clauses
The clause titled "An importing Party" defines the responsibilities and obligations of a party that is bringing goods or services into a country under a contract or agreement. Typically, this clause outlines the requirements the importing party must fulfill, such as obtaining necessary permits, complying with local regulations, and paying applicable duties or taxes. For example, the importing party may be required to ensure that all imported products meet safety standards or to provide documentation for customs clearance. The core function of this clause is to allocate responsibility for legal compliance and logistical arrangements related to imports, thereby reducing the risk of delays, penalties, or disputes between the contracting parties.
An importing Party. (a) shall not maintain a safeguard action for a period exceeding three years, except that the Party may extend the period by up to two years if the Party’s competent authorities determine, in conformity with the procedures set out in paragraphs 3 and 4, that the action continues to be necessary to prevent or remedy serious damage and to facilitate adjustment by the domestic industry, and that there is evidence that the industry is adjusting;
(b) shall not take or maintain a safeguard action against a good beyond ten years after the Party must eliminate customs duties on that good pursuant to this Agreement;
(c) shall not take a safeguard action more than once against the same good of the other Party; and
(d) shall, on termination of the safeguard action, apply to the good that was subject to the safeguard action the rate of duty that would have been in effect but for the action.
An importing Party. (a) shall not maintain an emergency action for a period exceeding three years;
(b) shall not take or maintain an emergency action against a good beyond ten years after the Party must eliminate customs duties on that good pursuant to this Agreement;
(c) shall not take an emergency action more than once against the same good of the other Party; and
(d) shall, on termination of the emergency action, apply to the good that was subject to the emergency action the rate of duty that would have been in effect but for the action.