Common use of Temporary Safeguard Measures Clause in Contracts

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-border capital transactions as well as payments or transfers including transfers referred to in Article 14 for transactions related to investments: (a) in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) in exceptional cases where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund; (c) not exceed those necessary to deal with the circumstances set out in paragraph 1; (d) be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be promptly notified to the other Contracting Party; and (f) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-border capital transactions as well as payments or transfers including transfers referred to in Article 14 11 for transactions related to investments: (a) in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) in exceptional cases where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund; (c) not exceed those necessary to deal with the circumstances set out in paragraph 1; (d) be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be promptly notified to the other Contracting Party; and (f) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-border capital transactions as well as payments or transfers including transfers referred to in Article 14 15 for transactions related to investments: (a) in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) in exceptional cases where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund; (c) not exceed those necessary to deal with the circumstances set out in paragraph 1; (d) be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be promptly notified to the other Contracting Party; and (f) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party. 3. The Contracting Party which has adopted any measures under paragraph 1 shall, upon request, commence consultations with the other Contracting Party in order to review the restrictions adopted by the former Contracting Party.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures not conforming with regard its obligations under Article 57 relating to cross-cross- border capital transactions as well as payments or transfers including transfers referred to in and Article 14 for transactions related to investments65: (a) in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) in cases where, in exceptional cases where circumstances, movements of capital cause or threaten to cause serious difficulties for macroeconomic managementmanagement in particular, in particular monetary monetary, fiscal and exchange rate policies. 2. Restrictive The measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund, as may be amended; (cb) not exceed those necessary to deal with the circumstances set out in paragraph 1; (dc) be temporary and be phased out progressively eliminated as the situation specified in paragraph 1 improvessoon as conditions permit; (ed) be promptly notified to the other Contracting Party; and; (fe) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party; and (f) ensure that the other Party is treated as favourably as any non-Party. 3. Nothing in this Article shall be regarded as altering the rights enjoyed and obligations undertaken by a Party as a party to the Articles of Agreement of the International Monetary Fund, as may be amended.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-border capital transactions as well as payments or transfers including transfers referred to in Article 14 for transactions related to investments: (a) in In the event of serious balance-of-payments and the external financial difficulties or threat thereof; or (b) in In exceptional cases where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be Be applied in such a manner that the other Contracting Party is treated no less favourably favorably than any non-Contracting Party; (b) be Be consistent with the Articles of Agreement of the International Monetary Fund; (c) not Not exceed those necessary to deal with the circumstances set out in paragraph 1; (d) be Be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be Be promptly notified to the other Contracting Party; and (f) avoid Avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party. 3. The Contracting Party which has adopted any measures under paragraph 1 shall, upon request, commence consultations with the other Contracting Party in order to review the restrictions adopted by it.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-border capital transactions as well as payments or transfers including transfers referred to in Article 14 for transactions related to investments: (a) in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) in exceptional cases where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund; (c) not exceed those necessary to deal with the circumstances set out in paragraph 1; (d) be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be promptly notified to the other Contracting Party; and (f) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-cross- border capital transactions as well as payments or transfers including transfers referred to in Article 14 for transactions related to investments: (a) in the event of serious balance-of-balance of payments and the external financial difficulties or threat thereof; or (b) in exceptional cases cases, where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably favorably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund, as may be amended; (c) not exceed those necessary to deal with the circumstances set out in paragraph 1; (d) be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be promptly notified to the other Contracting Party; and (f) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party; and (f) not be confiscatory11. 3. The Party which has adopted any measure under paragraph 1 shall notify the other Party, as soon as possible.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures not conforming with regard its obligations under Article 57 relating to cross-border crossborder capital transactions as well as payments or transfers including transfers referred to in and Article 14 for transactions related to investments65: (a) in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) in cases where, in exceptional cases where circumstances, movements of capital cause or threaten to cause serious difficulties for macroeconomic managementmanagement in particular, in particular monetary monetary, fiscal and exchange rate policies. 2. Restrictive The measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund, as may be amended; (cb) not exceed those necessary to deal with the circumstances set out in paragraph 1; (dc) be temporary and be phased out progressively eliminated as the situation specified in paragraph 1 improvessoon as conditions permit; (ed) be promptly notified to the other Contracting Party; and; (fe) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party; and (f) ensure that the other Party is treated as favourably as any non-Party. 3. Nothing in this Article shall be regarded as altering the rights enjoyed and obligations undertaken by a Party as a party to the Articles of Agreement of the International Monetary Fund, as may be amended.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-border capital transactions as well as payments or transfers including transfers referred to in Article 14 for transactions related to investments: (a) in In the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) in In exceptional cases where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be Be applied in such a manner that the other Contracting Party is treated no less favourably than any non-Contracting Party; (b) be Be consistent with the Articles of Agreement of the International Intemational Monetary Fund; (c) not Not exceed those necessary to deal with the circumstances circurnstances set out in paragraph 11 ; (d) be Be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be Be promptly notified to the other Contracting Party; and (f) avoid Avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-border capital transactions as well as payments or transfers including transfers referred to in Article 14 for transactions related to investments: (a) in the event of serious balance-of-payments and the external financial difficulties or threat thereof; or (b) in exceptional cases where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably favorably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund; (c) not exceed those necessary to deal with the circumstances set out in paragraph 1; (d) be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be promptly notified to the other Contracting Party; and (f) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party. 3. The Contracting Party which has adopted any measures under paragraph 1 shall, upon request, commence consultations with the other Contracting Party in order to review the restrictions adopted by it.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain restrictive measures with regard to cross-border capital transactions as well as payments or transfers including transfers referred to in Article 14 for transactions related to covered investments: (a) in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) in exceptional cases where movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular monetary and exchange rate policies. 2. Restrictive measures referred to in paragraph 1 shall: (a) be applied in such a manner that the other Contracting Party is treated no less favourably than any non-Contracting Party; (b) be consistent with the Articles of Agreement of the International Monetary Fund; (c) not exceed those necessary to deal with the circumstances set out in paragraph 1;, (d) be temporary and be phased out progressively as the situation specified in paragraph 1 improves; (e) be promptly notified to the other Contracting Party; and (f) avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party. 3. The Party which has adopted any measures under paragraph 1 shall, on request, commence consultations with the other Party in order to review the restrictions adopted by it.