Common use of Basic Duties Clause in Contracts

Basic Duties. 1. For each product the basic duty to which the successive reductions set out in this Agreement are to be applied shall be the Most Favoured Nation rate of duty in force on 1 January 2002. 2. If, after 1 January 2002, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from the tariff negotiations in the WTO, such reduced duties shall replace the basic duty referred to in paragraph 1 of this Article as from the date when such reductions are applied. 3. The reduced duties calculated in accordance with paragraph 2 of this Article shall be applied rounded to the first decimal place. 4. The Parties shall communicate to each other their respective basic duties.

Appears in 2 contracts

Samples: Free Trade Agreement, Free Trade Agreement

AutoNDA by SimpleDocs

Basic Duties. 1. For each product the basic duty to which the successive reductions set out in this Agreement are to be applied shall be the Most Favoured Favored Nation rate of duty in force applicable on 1 January 200229 February 1992. 2. If, after 1 January 2002entry into force of the Agreement, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from the tariff negotiations in agreement concluded as a result of the WTOUruguay Round of Multilateral Trade negotiations, such reduced duties shall replace the basic duty duties referred to in paragraph 1 of this Article as from the that date when such reductions are applied. 3. The reduced duties calculated in accordance with paragraph Article 2 of this Article shall be applied rounded to the first decimal place. 4. The Parties shall communicate to each other their respective basic customs duties.

Appears in 2 contracts

Samples: Central European Free Trade Agreement, Central European Free Trade Agreement

Basic Duties. 1. For each product the basic duty duty, to which the successive reductions set out in this Agreement are to be applied applied, shall be the Most Favoured Nation rate of duty in force applicable on 1 January 200229 February 1992. 2. If, after 1 January 2002entry into force of this Agreement, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from the tariff negotiations in agreement concluded as a result of the WTOUruguay Round of Multilateral Trade negotiations, such reduced duties shall replace the basic duty duties referred to in paragraph 1 of this Article as from the that date when such reductions are applied. 3. The reduced duties calculated in accordance with paragraph 2 of this Article shall be applied rounded to the first decimal place. 4. The Parties shall communicate to each other their respective basic dutiescustoms duty rates.

Appears in 1 contract

Samples: Free Trade Agreement

Basic Duties. 1. For each product product, the basic duty to for which the successive reductions set out in this Agreement are to be applied shall be the Most Favoured Nation rate of duty in that was applied on the date of entry into force on 1 January 2002of this Agreement. 2. If, after 1 January 2002the date of entry into force of this Agreement, any tariff reduction is applied on an erga omnes basis, in particular the reductions resulting from the tariff negotiations agreements on tariffs which were concluded in the WTOaccordance with GATT Uruguay round of multilateral trade negotiations, such reduced duties shall replace the basic duty duties referred to in paragraph 1 of this Article as from the date when such reductions are applied. 3. The reduced duties duties, calculated in accordance with paragraph 2 of this Article 2, shall be applied rounded to the first decimal place. 4. The Contracting Parties shall communicate to each other their respective basic customs duties.

Appears in 1 contract

Samples: Free Trade Agreement

Basic Duties. 1. For each product the basic duty to which the successive reductions set out in this Agreement are to be applied shall be the Most Favoured Nation rate of duty in force applicable on 1 January 200229 February 1992. 2. If, after 1 January 2002the entry into force of this Agreement, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from the tariff negotiations in the WTOUruguay Round of Multilateral Trade Negotiations, such reduced duties shall replace the basic duty duties referred to in paragraph 1 of this Article as from the date when such reductions are applied. 3. The reduced duties calculated in accordance with paragraph 2 of this Article 4 shall be applied rounded to the first decimal place or, in case of specific duties, to the second decimal place. 4. The Parties shall communicate to each other their respective basic duties.

Appears in 1 contract

Samples: Free Trade Agreement

AutoNDA by SimpleDocs

Basic Duties. 1. For each product the basic duty to which the successive reductions set out in this Agreement are to be applied shall be the Most Favoured Nation most-favoured-nation rate of duty in force applicable on 1 January 20021997. 2. If, after 1 January 2002entry into force of the Agreement, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from the tariff negotiations in agreement concluded as a result of the WTOUruguay Round of multilateral trade negotiations, such reduced duties shall replace the basic duty duties referred to in paragraph 1 of this Article as from the date when such reductions are applied. 3. The reduced duties duties, calculated in accordance with paragraph 2 of this Article 2, shall be applied rounded to the first decimal place. 4. The Parties shall communicate to each other their respective basic customs duties.

Appears in 1 contract

Samples: Free Trade Agreement

Basic Duties. 1. For each product the basic duty to which the successive reductions set out in this Agreement are to be applied shall be the Most Favoured Nation rate of duty in force applicable on 1 January 200229 February 1992. 2. If, after 1 January 2002entry into force of the Agreement, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from the tariff negotiations in agreement concluded as a result of the WTOUruguay Round of Multilateral Trade negotiations, such reduced duties shall replace the basic duty duties referred to in paragraph 1 of this Article as from the that date when such reductions are applied. 3. The reduced duties calculated in accordance with paragraph Article 2 of this Article shall be applied rounded to the first decimal place. 4. The Parties shall communicate to each other their respective basic customs duties.

Appears in 1 contract

Samples: Central European Free Trade Agreement

Basic Duties. 1. For each product the basic duty to which the successive reductions set out in this Agreement are to be applied applied, shall be the Most Favoured Nation rate of duty in force applied on 1 January 200231 May 1993. 2. If, after 1 January 2002the entry into force of this Agreement, any tariff reduction is applied on an erga omnes basis, in particular reductions resulting from implemented as a result of the tariff negotiations in Uruguay Round of Multilateral Trade Negotiations or of the WTOaccession of Bulgaria to the GATT, such reduced duties shall replace the basic duty duties referred to in paragraph 1 of this Article as from the date when such reductions are applied. 3. The reduced duties calculated in accordance with paragraph 2 of this Article 4 shall be applied rounded to the first decimal place or, in case of specific duties, to the second decimal place. 4. The Parties shall communicate to each other their respective basic duties.

Appears in 1 contract

Samples: Free Trade Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!