Common use of Temporary Safeguard Measures Clause in Contracts

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain measures not conforming with its obligations under Article 16: (a) In the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) In cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular, monetary and exchange rate policies. 2. Measures referred to in paragraph 1: (a) Shall be consistent with the Articles of Agreement of the International Monetary Fund so long as the Contracting Party taking the measures is a party to the said Articles; (b) Shall not exceed those necessary to deal with the circumstances set out in paragraph 1; (c) Shall be temporary and shall be eliminated as soon as conditions permit; (d) Shall be promptly notified to the other Contracting Party; and (e) Shall avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party. 3. Nothing in this Agreement shall be regarded as altering the rights enjoyed and obligations undertaken by a Contracting Party as a party to the Articles of Agreement of the International Monetary Fund.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain measures not conforming with its obligations under Article 16Articles 73 and 81, regarding payments and transfers related to an investment: (a) In in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) In in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular, monetary and exchange rate policies. 2. Measures referred to in paragraph 1: (a) Shall shall be consistent with the Articles of Agreement of the International Monetary Fund so long as the Contracting Party taking the measures is a party to the said ArticlesFund; (b) Shall shall not exceed those necessary to deal with the circumstances set out in paragraph 1; (c) Shall shall be temporary and shall be eliminated as soon as conditions permit; (d) Shall shall be promptly notified to the other Contracting Party; and (e) Shall shall avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party. 3. Nothing in this Agreement Article shall be regarded as altering the rights enjoyed and obligations undertaken by a Contracting Party as a party to the Articles of Agreement of the International Monetary Fund.

Temporary Safeguard Measures. 1. A Contracting Party may adopt or maintain measures not conforming with its obligations under Article 162 relating to cross-border capital transactions and Article 15: (a) In in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) In in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular, monetary and exchange rate policies. 2. Measures referred to in paragraph 11 above: (a) Shall shall be consistent with the Articles of Agreement of the International Monetary Fund Fund, as may be amended, so long as the Contracting Party taking the measures is a party to the said Articles; (b) Shall shall not exceed those necessary to deal with the circumstances set out in paragraph 11 above; (c) Shall shall be temporary and shall be eliminated as soon as conditions permit; (d) Shall shall be promptly notified to the other Contracting Party; and (e) Shall shall avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party. 3. Nothing in this Agreement shall be regarded as altering the rights enjoyed and obligations undertaken by a Contracting 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 measures not conforming with its obligations under Article 16: (a) In in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) In in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious difficulties for macroeconomic management, in particular, monetary and exchange rate policies. 2. Measures referred to in paragraph 1: (a) Shall shall be consistent with the Articles of Agreement of the International Monetary Fund so long as the Contracting Party taking the measures is a party to the said Articles; (b) Shall shall not exceed those necessary to deal with the circumstances set out in paragraph 1; (c) Shall shall be temporary and shall be eliminated as soon as conditions permit; (d) Shall shall be promptly notified to the other Contracting Party; and (e) Shall shall avoid unnecessary damages to the commercial, economic and financial interests of the other Contracting Party. 3. Nothing in this Agreement shall be regarded as altering the rights enjoyed and obligations undertaken by a Contracting Party as a party to the Articles of Agreement of the International Monetary Fund.