Common use of Balance of Payments Clause in Contracts

Balance of Payments. 1. The Parties shall endeavour to avoid the imposition of restrictive measures for balance of payments purposes. 2. A Party in serious balance of payments difficulties, or under imminent threat thereof, may, in accordance with the conditions established under the GATT 1994 and the WTO Understanding on the Balance of Payments Provisions of the GATT 1994, adopt trade restrictive measures, which shall be of limited duration and non- discriminatory, and may not go beyond what is necessary to remedy the balance of payments situation. 3. The Party introducing a measure under this Article shall promptly notify the other Parties thereof.

Appears in 8 contracts

Samples: Free Trade Agreement, Free Trade Agreement, Free Trade Agreement

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Balance of Payments. 1. The Parties shall endeavour to avoid the imposition of restrictive measures for balance of payments purposes. 2. A Party in serious balance of payments difficulties, or under imminent threat thereof, may, in accordance with the conditions established under the GATT 1994 and the WTO Understanding on the Balance of Balance-of-Payments Provisions of the GATT 1994, adopt trade restrictive measures, which shall be of limited duration and non- discriminatory, and may not go beyond what is necessary to remedy the balance of payments situation. 3. The Party introducing a measure under this Article shall promptly notify the other Parties thereof.

Appears in 3 contracts

Samples: Free Trade Agreement, Free Trade Agreement, Trade Agreement

Balance of Payments. 1. The Parties shall endeavour to avoid the imposition of restrictive measures for balance of payments purposes. 2. A Party in serious balance of payments difficulties, or under imminent threat thereof, may, in accordance with the conditions established under the GATT 1994 and the WTO Understanding on the Balance of Payments Provisions of the GATT 1994, adopt trade restrictive measures, which shall be of limited duration and non- discriminatory, and may not go beyond what is necessary to remedy the balance of payments situation. 3. The Party introducing a measure under this Article shall promptly notify the other Parties Party thereof.

Appears in 1 contract

Samples: Free Trade Agreement

Balance of Payments. 1. The Parties shall endeavour to avoid the imposition of restrictive measures for balance of payments purposes. 2. A Party in serious balance of payments difficulties, or under imminent threat thereof, may, in accordance with the conditions established under the GATT 1994 and the WTO Understanding on the Balance of Payments Provisions of the GATT 1994, adopt trade restrictive measures, which shall be of limited duration and non- non­ discriminatory, and may not go beyond what is necessary to remedy the balance of payments situation. 3. The Party introducing a measure under this Article shall promptly notify the other Parties thereof.

Appears in 1 contract

Samples: Free Trade Agreement

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Balance of Payments. 1. The Parties shall endeavour to avoid the imposition of restrictive measures for balance of payments purposes. 2. A Party in serious balance of payments difficulties, or under imminent threat thereof, may, in accordance with the conditions established under the GATT 1994 and the WTO Understanding on the Balance of Payments Provisions of the GATT 1994, adopt trade restrictive measures, which shall be of limited duration and non- discriminatorynondiscriminatory, and may not go beyond what is necessary to remedy the balance of payments situation. 3. The Party introducing a measure under this Article shall promptly notify the other Parties thereof.

Appears in 1 contract

Samples: Free Trade Agreement

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