Common use of Modification of Schedules Clause in Contracts

Modification of Schedules. A 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 has entered into force, provided that: it notifies the Parties as well as the Implementing Committee 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 it enters into negotiations with any affected Party to agree to the necessary compensatory adjustment. In achieving a compensatory adjustment, Parties shall ensure that the general level of mutually advantageous commitment is not less favourable to trade than provided for in the Schedules prior to such negotiations. Any compensatory adjustment pursuant to this Article shall be accorded on a non-discriminatory basis to all Parties. If the Parties concerned are unable to reach an agreement on the compensatory adjustment, the matter shall be resolved by arbitration11. The modifying Party may not modify or withdraw its commitment until it has made compensatory adjustments in conformity with the findings of the arbitration. If the modifying Party implements its proposed modification or withdrawal and does not comply with the findings of the arbitration, any Party that participated in the arbitration may modify or withdraw substantially equivalent benefits in conformity with those findings. Notwithstanding Article 23, such a modification or withdrawal may be implemented solely with respect to the modifying Party. CHAPTER IV FINAL PROVISIONS

Modification of Schedules. A 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 has entered into force, force provided that: it notifies the Parties as well as the Implementing Committee ASEAN Secretariat 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 it enters into negotiations with any affected Party to agree to the necessary compensatory adjustment. In achieving a compensatory adjustment, Parties shall ensure that the general level of mutually advantageous commitment is not less favourable to trade than provided for in the Schedules prior to such negotiations. Any compensatory adjustment pursuant to this Article shall be accorded on a non-discriminatory basis to all Parties. If the Parties concerned are unable to reach an agreement on the compensatory adjustment, the matter shall be resolved by arbitration11arbitration under the Agreement on Dispute Settlement Mechanism of the Framework Agreement. The modifying Party may not modify or withdraw its commitment until it has made compensatory adjustments in conformity with the findings of the arbitration. If the modifying Party party implements its proposed modification or withdrawal and does not comply with the findings of the arbitration, any Party that participated in the arbitration may modify or withdraw substantially equivalent benefits in conformity with those findings. Notwithstanding Article 2322, such a modification or withdrawal may be implemented solely with respect to the modifying Party. CHAPTER IV FINAL PROVISIONS.

Modification of Schedules. A 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 has entered into force, force provided that: it notifies the Parties as well as the Implementing Joint Committee on Services 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 it enters into negotiations with any affected Party to agree to the necessary compensatory adjustment. In achieving a compensatory adjustment, Parties shall ensure that the general level of mutually advantageous commitment is not less favourable to trade than provided for in the Schedules prior to such negotiations. Any compensatory adjustment pursuant to this Article shall be accorded on a non-discriminatory basis to all Parties. If the Parties concerned are unable to reach an agreement on the compensatory adjustment, the matter shall be resolved by arbitration11under the ASEAN-India DSM Agreement. The modifying Party may not modify or withdraw its commitment until it has made compensatory adjustments in conformity with the findings of the arbitration. If the modifying Party implements its proposed modification or withdrawal and does not comply with the findings of the arbitration, any Party that participated in the arbitration may modify or withdraw substantially equivalent benefits in conformity with those findings. Notwithstanding Article 2321 (Application and Extension of Commitments), such a modification or withdrawal may be implemented solely with respect to the modifying Party. CHAPTER IV FINAL PROVISIONS.