Common use of SAFEGUARD CLAUSES Clause in Contracts

SAFEGUARD CLAUSES. 1. The Member States of CARICOM and Colombia may apply bilateral safeguard measures of a temporary nature when: (a) imports of products from any Member State of CARICOM or Colombia are made in such quantities that such products cause or may cause damage to the national production of like or directly competitive products of the importing country; (b) it is necessary to redress balance-of-payment deficits or to protect the external financial position of the importing country. 2. Safeguard measures shall consist of the temporary suspension of the tariff preferences and the reinstatement of the Most Favoured Nation duties for the specific product. 3. Safeguard measures shall be applied for an initial period of no longer than one year. This term may be renewed for an additional year, if the causes that motivated the imposition of the safeguard clause persist. 4. The importing country seeking to impose or renew any safeguard measure shall request a meeting of the Joint Council in order to have consultations on the imposition or renewal of such measures. This imposition or renewal does not require consensus.

SAFEGUARD CLAUSES. 1. The Member States of CARICOM and Colombia may apply bilateral safeguard measures of a temporary nature when: (a) a. imports of products from any Member State of CARICOM or Colombia are made in such quantities that such products cause or may cause damage to the national production of like or directly competitive products of the importing country; (b) b. it is necessary to redress balance-of-payment deficits or to protect the external financial position of the importing country. 2. Safeguard measures shall consist of the temporary suspension of the tariff preferences and the reinstatement of the Most Favoured Nation duties for the specific product. 3. Safeguard measures shall be applied for an initial period of no longer than one year. This term may be renewed for an additional year, if the causes that motivated the imposition of the safeguard clause persist. 4. The importing country seeking to impose or renew any safeguard measure shall request a meeting of the Joint Council in order to have consultations on the imposition or renewal of such measures. This imposition or renewal does not require consensus.

SAFEGUARD CLAUSES. 1. The Member States of CARICOM and Colombia may apply bilateral safeguard measures of a temporary nature when: (a) a. imports of products from any Member State of CARICOM or Colombia are made in such quantities that such products cause or may cause damage to the national production of like or directly competitive products of the importing country; (b) b. it is necessary to redress balance-of-payment deficits or to protect the external financial position of the importing country. 23. Safeguard measures shall consist of the temporary suspension of the tariff preferences and the reinstatement of the Most Favoured Nation duties for the specific product. 34. Safeguard measures shall be applied for an initial period of no longer than one year. This term may be renewed for an additional year, if the causes that motivated the imposition of the safeguard clause persistpersist . 45. The importing country seeking to impose or renew any safeguard measure shall request a meeting of the Joint Council in order to have consultations on the imposition or renewal of such measures. This imposition or renewal does not require consensus.