Common use of Modification of Schedules Clause in Contracts

Modification of Schedules. 1. A Party (referred to in this Article as the “modifying Party”) may modify or withdraw any commitment in its Schedule at any time after three years have elapsed from the date on which that commitment entered into force, in accordance with the provisions of this Article, provided that: (a) it notifies the other Party (referred to in this Article as the “affected Party”) of its intention to modify or withdraw a commitment no later than three months before the intended date of implementation of the modification or withdrawal; and (b) At the request of the other Party, the modifying Party shall enter into negotiations with a view to reaching agreement on any necessary compensatory adjustment. 2. In achieving a compensatory adjustment, the Parties shall endeavour to maintain a general level of mutually advantageous commitment that is not less favourable to trade than provided for in its Schedule in Annex III (Schedule of Specific Commitments on Trade in Services) prior to such negotiations. 3. The Parties shall endeavour to conclude negotiations on such compensatory adjustment to the satisfaction of both Parties within a mutually agreed timeframe, failing which the matter may be resolved in accordance with the provisions of Chapter 15 (Dispute Settlement) of this Agreement. 4. The modifying Party may not modify or withdraw its commitment until it has made the compensatory adjustments in conformity with the findings of the arbitral tribunal in accordance with paragraph 3 of this Article. 5. If the modifying Party implements its proposed modification or withdrawal and does not comply with the findings of the arbitral tribunal, the affected Party may modify or withdraw substantially equivalent benefits in conformity with the findings of the arbitral tribunal.

Modification of Schedules. 1. A Party (referred to in this Article as the “"modifying Party”") may modify or withdraw any commitment in its Schedule Schedules in Annex 4 (Schedules of Specific Services Commitments) and Annex 6 (Schedules of Movement of Natural Persons Commitments) at any time after three years have elapsed from the date on which that commitment entered into force, in accordance with the provisions of this Article, provided that:. (a) it notifies 2. The modifying Party shall notify the other Party (referred to in this Article as "the “affected Party”") of its intention intent to modify or withdraw a commitment pursuant to this Article no later than three months before the intended date of implementation of the modification or withdrawal; and. (b) At the request of the other Party, 3. The modifying Party may only modify or withdraw its commitments where the modifying Party shall enter into negotiations with a view makes compensatory adjustments to reaching agreement on any necessary compensatory adjustment. 2. In achieving a compensatory adjustment, the Parties shall endeavour its Schedules to maintain a general level of mutually advantageous commitment commitments that is not no less favourable to trade in services than provided for in its Schedule in Annex III (Schedule of Specific Commitments on Trade in Services) Schedules prior to such negotiationsthe modification. 34 A “negative list” utilises an approach whereby a Party is required to apply certain obligations of the Chapter, such as market access and national treatment, to all services and services suppliers, unless a reservation is made in the Party’s schedule appended to the agreement. The It is commonly contrasted with a “positive list” approach whereby certain obligations, such as market access and national treatment, only apply to services and service suppliers to the extent that a Party makes a specific commitment to this effect in its schedule. 4. Upon notification of a Party's intent to make such modification, the Parties shall endeavour consult and attempt to conclude negotiations reach agreement on such the appropriate compensatory adjustment adjustment. 5. If agreement pursuant to paragraphs 3 and 4 is not reached between the satisfaction of both Parties modifying Party and the affected Party within a mutually agreed timeframethree months, failing which the affected Party may refer the matter may be resolved to arbitration in accordance with the provisions of procedures set out in Chapter 15 16 (Dispute Settlement) of this Agreement). 46. The modifying Party may not modify or withdraw its commitment until it has made the compensatory necessary adjustments in conformity with the findings of the arbitral tribunal arbitration in relation to the question of whether paragraph 3 is satisfied in accordance with paragraph 3 of this Article5. 5. If the modifying Party implements its proposed modification or withdrawal and does not comply with the findings of the arbitral tribunal, the affected Party may modify or withdraw substantially equivalent benefits in conformity with the findings of the arbitral tribunal.

Modification of Schedules. 1. A Party (referred to in this Article as the “"modifying Party”") may modify or withdraw any commitment in its Schedule at any time after three years have elapsed from the date on which that commitment entered into force, in accordance with the provisions of this Article, provided that: (a) it notifies the other Party (referred to in this Article as the “"affected Party”") of its intention to modify or withdraw a commitment no later than three months before the intended date of implementation of the modification or ot withdrawal; and (b) At the request of the other Party, the modifying Party shall enter into negotiations with a view to reaching agreement on any necessary compensatory adjustment. 2. In achieving a compensatory adjustment, the Parties shall endeavour to maintain a general level of mutually advantageous commitment that is not less favourable to trade than provided for in its Schedule in Annex III II (Schedule of Specific Commitments on Trade in Services) prior to such negotiations. 3. The Parties shall endeavour to conclude negotiations on such compensatory adjustment to the satisfaction of both Parties within a mutually agreed timeframe, failing which the matter may be resolved in accordance with the provisions of Chapter 15 (Dispute Settlement) of this Agreement. 4. The modifying Party may not modify or withdraw its commitment until it has made the compensatory adjustments in conformity with the findings of the arbitral tribunal in accordance with paragraph 3 of this Article. 5. If the modifying Party implements its proposed modification or withdrawal and does not comply with the findings of the arbitral tribunal, the affected Party may modify or withdraw substantially equivalent benefits in conformity with the findings of the arbitral tribunal.

Modification of Schedules. 1. A Party that has made commitments in accordance with Article 8.7 (Schedules of Specific Commitments) (hereinafter referred to in this Article as the a “modifying Party”” in this Article) may modify or withdraw any commitment in its Schedule in Annex II (Schedules of Specific Commitments for Services), other than commitments in sectors or subsectors indicated with an “FL”, at any time after three years have elapsed from the date on which that commitment has entered into force, in accordance provided that it complies with the provisions of this Article, provided Article and that: (a) it notifies the other Party (referred to in this Article as the “affected Party”) Committee on Services and Investment of its intention to modify or withdraw a commitment no later than three months before the intended date of implementation of the modification or withdrawal; and (b) At the request of the other it enters into negotiations with any requesting Party, the modifying Party shall enter into negotiations with a view to reaching agreement on any necessary compensatory adjustment. 2. In achieving a compensatory adjustmentadjustment through the negotiations referred to in subparagraph 1(b), the Parties concerned shall endeavour to maintain a general level of mutually advantageous commitment that is not commitments no less favourable to trade than that provided for in its the modifying Party’s Schedule in Annex III II (Schedule Schedules of Specific Commitments on Trade in for Services) prior to such negotiations. 3. The Parties shall endeavour to conclude negotiations on such Any compensatory adjustment made pursuant to the satisfaction of both Parties within this Article shall be accorded on a mutually agreed timeframe, failing which the matter may be resolved in accordance with the provisions of Chapter 15 (Dispute Settlement) of this Agreementnon-discriminatory basis to all Parties. 4. If the Parties concerned are unable to reach an agreement on the compensatory adjustment within three months following the last date on which a request under subparagraph 1(b) has been made, or another period agreed by the modifying Party and each requesting Party, a requesting Party may refer the matter to arbitration. Any Party that wishes to enforce a right that it may have to compensation must participate in the arbitration. The modifying Party may not modify or withdraw its commitment until it has made the compensatory adjustments in conformity with the findings of the arbitral tribunal arbitration. 5. Arbitrations undertaken pursuant to paragraph 4 shall be conducted in accordance with the procedures set out in paragraphs 7 through 19 of Procedures for the Implementation of Article XXI of the General Agreement on Trade in Services adopted on 19 July 1999(S/L/80), as may be amended, (hereinafter referred to as “the GATS Article XXI Procedures” in this Chapter), which shall apply mutatis mutandis, unless otherwise decided by the Committee on Services and Investment under paragraph 3 of this Article10 or unless the parties to the arbitration agree otherwise. 56. If the modifying Party implements its proposed modification or withdrawal and does not comply with the findings of the arbitral tribunalarbitration, any Party that participated in the affected Party arbitration may modify or withdraw substantially equivalent benefits in conformity with those findings. Such a modification or withdrawal may be implemented solely with respect to the findings modifying Party. 7. If no Party has requested: (a) negotiations under subparagraph 1(b) within 45 days of the arbitral tribunaldate of a notification made pursuant to subparagraph 1(a); or (b) arbitration pursuant to paragraph 4, the modifying Party shall be free to implement its proposed modification or withdrawal, notwithstanding Article 20.4 (Amendments), in accordance with the procedures set out in paragraphs 20 through 22 of the GATS Article XXI Procedures, which shall apply mutatis mutandis, unless otherwise decided by the Committee on Services and Investment under paragraph 10. 8. For the avoidance of doubt, for the purposes of paragraphs 5 and 7, references in the GATS Article XXI Procedures to: (a) “the Secretariat” and “the Council for Trade in Services” shall be read as references to the Committee on Services and Investment;