Common use of Special Safeguard Measures Clause in Contracts

Special Safeguard Measures. 1. The Parties may apply a special safeguard measures (SSM) at any given time in a calendar year, for those products included in Annex 3.13 (Products subject to Special Safeguard Measures), whenever the imports of a product from the other Party have exceeded the trigger levels established in Annex 3.13. The trigger levels shall be a percentage of the yearly average growth of those imports made during the last 3 calendar years; as long as there have been imports consecutively in those years. 2. The SSM application shall consist of a tariff increase to the level of the MFN customs tariff established either at the time of importation or on July 31 2005, whichever is lower. 3. The SSM application is not subject to any kind of compensation. 4. The SSM duration period shall be of up to eighteen (18) months, renewable for an equal period of time. The Party shall notify the other Party of its intention to extend said measure at least thirty (30) days before the due date, if the conditions that caused it persist. 5. The adopted SSM shall take effect on the day that said measure is published in the media designated by each Party’s legislation, taking into account all relevant information that justifies its entry into force. The Party imposing the measures shall notify it to the other Party at least fifteen (15) days before its entry into force. 6. Notwithstanding the application of the SSM, the Parties shall be able to hold consultations at any time in order to exchange information and with the goal of reaching mutually beneficial agreements. 7. Whenever new products are incorporated into the Tariff Reduction Schedule included in Annex 3.04 (Tariff Reduction Schedule) the Parties shall be able to include them in Annex 3.13 (Products subject to Special Safeguard Measures). 8. The SSM shall not apply to those products listed under the exclusion category or subject to a tariff quota system.

Special Safeguard Measures. 1. The Parties may apply a special safeguard measures (SSM) at any given time in a calendar year, for those products included in Annex 3.13 (Products subject to Special Safeguard Measures), whenever the imports of a product from the other Party have exceeded the trigger levels established in Annex 3.13. The trigger levels shall be a percentage of the yearly average growth of those imports made during the last 3 calendar years; as long as there have been imports consecutively in those years. . 2. The SSM application shall consist of a tariff increase to the level of the MFN customs tariff established either at the time of importation or on July 31 2005, whichever is lower. 3. The SSM application is not subject to any kind of compensation. . 4. The SSM duration period shall be of up to eighteen (18) months, renewable for an equal period of time. The Party shall notify the other Party of its intention to extend said measure at least thirty (30) days before the due date, if the conditions that caused it persist. . 5. The adopted SSM shall take effect on the day that said measure is published in the media designated by each Party’s 's legislation, taking into account all relevant information that justifies its entry into force. The Party imposing the measures shall notify it to the other Party at least fifteen (15) days before its entry into force. 6. 6. Notwithstanding the application of the SSM, the Parties shall be able to hold consultations at any time in order to exchange information and with the goal of reaching mutually beneficial agreements. 7. Whenever new products are incorporated into the Tariff Reduction Schedule included in Annex 3.04 (Tariff Reduction Schedule) the Parties shall be able to include them in Annex 3.13 (Products subject to Special Safeguard Measures). 8. The SSM shall not apply to those products listed under the exclusion category or subject to a tariff quota system.