Common use of Reduction or Elimination of Customs Duties Clause in Contracts

Reduction or Elimination of Customs Duties. 1. Customs duties which are levied at zero percent or nil on the date of signing of this Agreement shall be kept at zero percent or nil by the Parties. 2. Customs duties in excess of zero percent or nil shall be reduced and where relevant, eliminated by the Parties on originating goods of the other Party in accordance with each Party’s Schedule of Concessions in Annex 1.

Reduction or Elimination of Customs Duties. 1. Customs duties which are levied at zero percent or nil on the date of signing of this Agreement shall be kept at zero percent or nil by the Parties. 2. Customs duties in excess of zero percent or nil shall be reduced and where relevant, eliminated by the Parties on originating goods of the other Party in accordance with each Party’s 's Schedule of Concessions in Annex 1.