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Common use of Release of Goods Clause in Contracts

Release of Goods. 1. Each Party shall adopt and apply simplified and efficient customs and other trade-related requirements and procedures in order to facilitate trade between the Parties. 2. Pursuant to paragraph 1, each Party shall ensure that its customs authorities, border agencies or other competent authorities apply requirements and procedures that: (a) provide for the release of goods within a period no longer than that required to ensure compliance with its customs and other trade-related laws and formalities. Each Party shall work to further reduce release time; (b) provide for advance electronic submission and eventual processing of information before physical arrival of goods, "pre- arrival processing", to enable the release of goods on arrival; (c) allow importers to obtain the release of goods from customs before, and without prejudice to, the final determination by its customs authority of the applicable customs duties, taxes and fees (1); and (d) allow goods to be released for free circulation at the point of arrival, without temporary transfer to warehouses or other facilities. (1) A Party may require an importer to provide sufficient guarantee in the form of a surety, a deposit or some other appropriate instruments, covering the ultimate payment of the customs duties, taxes and fees in connection with the importation of the goods.

Appears in 2 contracts

Samples: Free Trade Agreement, Free Trade Agreement

Release of Goods. 1. Each Party shall adopt and apply simplified and efficient customs and other trade-trade- related requirements and procedures in order to facilitate trade between the Parties. 2. Pursuant to paragraph 1, each Party shall ensure that its customs authorities, border agencies or other competent authorities apply requirements and procedures that: (a) provide for the release of goods within a period no longer than that required to ensure compliance with its customs and other trade-related laws and formalities. Each Party shall work to further reduce release time; (b) provide for advance electronic submission and eventual processing of information before physical arrival of goods, "pre- “pre-arrival processing", to enable the release of goods on arrival; (c) allow importers to obtain the release of goods from customs before, and without prejudice to, the final determination by its customs authority of the applicable customs duties, taxes and fees (1); fees;3 and (d) allow goods to be released for free circulation at the point of arrival, without temporary transfer to warehouses or other facilities. (1) A Party may require an importer to provide sufficient guarantee in the form of a surety, a deposit or some other appropriate instruments, covering the ultimate payment of the customs duties, taxes and fees in connection with the importation of the goods.

Appears in 2 contracts

Samples: Free Trade Agreement, Free Trade Agreement

Release of Goods. 1. Each Party shall adopt and apply simplified and efficient customs and other trade-related requirements and procedures in order to facilitate trade between the Parties. 2. Pursuant to paragraph 1, each Party shall ensure that its customs authorities, border agencies or other competent authorities apply requirements and procedures that: (a) provide for the release of goods within a period no longer than that required to ensure compliance with its customs and other trade-trade- related laws and formalities. Each Party shall work to further reduce release time; (b) provide for advance electronic submission and eventual processing of information before physical arrival of goods, "pre- pre-arrival processing", to enable the release of goods on arrival; (c) allow importers to obtain the release of goods from customs before, and without prejudice to, the final determination by its customs authority of the applicable customs duties, taxes and fees (1)fees1; and (d) allow goods to be released for free circulation at the point of arrival, without temporary transfer to warehouses or other facilities. (1) A Party may require an importer to provide sufficient guarantee in the form of a surety, a deposit or some other appropriate instruments, covering the ultimate payment of the customs duties, taxes and fees in connection with the importation of the goods.

Appears in 1 contract

Samples: Free Trade Agreement

Release of Goods. 1. Each Party shall adopt and apply simplified and efficient customs and other trade-related requirements and procedures in order to facilitate trade between the Parties. 2. Pursuant to paragraph 1, each Party shall ensure that its customs authorities, border agencies or other competent authorities apply requirements and procedures that: (a) provide for the release of goods within a period no longer than that required to ensure compliance with its customs and other trade-related laws and formalities. Each Party shall work to further reduce release time; (b) provide for advance electronic submission and eventual processing of information before physical arrival of goods, "pre- “pre-arrival processing", to enable the release of goods on arrival; (c) allow importers to obtain the release of goods from customs before, and without prejudice to, the final determination by its customs authority of the applicable customs duties, taxes and fees (1); fees;3 and (d) allow goods to be released for free circulation at the point of arrival, without temporary transfer to warehouses or other facilities. (1) A Party may require an importer to provide sufficient guarantee in the form of a surety, a deposit or some other appropriate instruments, covering the ultimate payment of the customs duties, taxes and fees in connection with the importation of the goods.

Appears in 1 contract

Samples: Free Trade Agreement

Release of Goods. 1. Each Party shall adopt and apply simplified and efficient customs and other trade-related requirements and procedures in order to facilitate trade between the Parties. 2. Pursuant to paragraph 1, each Party shall ensure that its customs authorities, border agencies or other competent authorities apply requirements and procedures that: (a) provide for the release of goods within a period no longer than that required to ensure compliance with its customs and other trade-related laws and formalities. Each Party shall work to further reduce release time; (b) provide for advance electronic submission and eventual processing of information before physical arrival of goods, "pre- pre-arrival processing", to enable the release of goods on arrival; (c) allow importers to obtain the release of goods from customs before, and without prejudice to, the final determination by its customs authority of the applicable customs duties, taxes and fees (1)fees1; and (d) allow goods to be released for free circulation at the point of arrival, without temporary transfer to warehouses or other facilities. (1) 1 A Party may require an importer to provide sufficient guarantee in the form of a surety, a deposit or some other appropriate instruments, covering the ultimate payment of the customs duties, taxes and fees in connection with the importation of the goods.

Appears in 1 contract

Samples: Free Trade Agreement

Release of Goods. 1. Each Party shall adopt and apply simplified and efficient customs and other trade-related requirements and procedures in order to facilitate trade between the Parties. 2. Pursuant to paragraph 1, each Party shall ensure that its customs authorities, border agencies or other competent authorities apply requirements and procedures that: (a) provide for the release of goods within a period no longer than that required to ensure compliance with its customs and other trade-related laws and formalities. Each Party shall work to further reduce release telease time; (b) provide for advance electronic submission and eventual processing of information before physical arrival of goods, "pre- arrival processing", to enable the release of goods on arrival; (c) allow importers to obtain the release of goods from customs before, and without prejudice to, the final determination by its customs authority of the applicable customs duties, taxes and fees (1); and (d) allow goods to be released for free circulation at the point of arrival, without temporary transfer to warehouses or other facilities. (1) A Party may require an importer to provide sufficient guarantee in the form of a surety, a deposit or some other appropriate instruments, covering the ultimate payment of the customs duties, taxes and fees in connection with the importation of the goods.

Appears in 1 contract

Samples: Free Trade Agreement