Common use of Post Clearance Audit Clause in Contracts

Post Clearance Audit. 1. With a view to expediting the release of goods, each Party shall adopt or maintain post- clearance audit to ensure compliance with its customs and related laws and regulations. 2. Each Party shall conduct post-clearance audits in a risk-based manner. 3. Each Party shall conduct post-clearance audits in a transparent manner. If an audit is conducted and conclusive results have been achieved, the Party shall, without delay, notify the person whose records are audited of the audit results, the basis of the results, and the audited person's rights and obligations. 4. The Parties acknowledge that the information obtained in a post-clearance audit may be used in further administrative, quasi-judicial, or judicial proceedings. 5. Each Party shall, whenever practicable, use the result of post-clearance audit in applying risk management. 6. Each Party shall conduct a post-clearance audit in a manner that informs the trader with respect to laws, regulations, and procedures and promotes future compliance. 7. Each Party shall provide in its laws or regulations a fixed and finite period with respect to record-keeping obligations.

Post Clearance Audit. 1. With a view to expediting the release of goods, each Party shall adopt or maintain post- clearance audit to ensure compliance with its customs and related laws and regulations. 2. Each Party shall conduct post-clearance audits in a risk-based manner. 3. Each Party shall conduct post-clearance audits in a transparent manner. If an audit is conducted and conclusive results have been achieved, the Party shall, without delay, notify the person whose records are audited of the audit results, the basis of the results, and the audited person's ’s rights and obligations. 4. The Parties acknowledge that the information obtained in a post-clearance audit may be used in further administrative, quasi-judicial, or judicial proceedings. 5. Each Party shall, whenever practicable, use the result of post-clearance audit in applying risk management. 6. Each Party shall conduct a post-clearance audit in a manner that informs the trader with respect to laws, regulations, and procedures and promotes future compliance. 7. Each Party shall provide in its laws or regulations a fixed and finite period with respect to record-keeping obligations.