Common use of Temporary Safeguard Measures Clause in Contracts

Temporary Safeguard Measures. 1. A Party may adopt or maintain measures not conforming with its obligations under Article 3 (National Treatment) relating to cross-border capital transactions or Article 11 (Transfers) in the event of serious balance of payments and external financial difficulties or under threat thereof. 2. A Party may adopt or maintain measures not conforming with its obligations under Article 11 (Transfers) in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious economic or financial disturbance or serious difficulties for the operation of monetary or exchange rate policies in the Party concerned. 3. The measures referred to in paragraphs 1 and 2 of this Article shall: (a) be consistent with the IMF Articles of Agreement, as may be amended; (b) avoid unnecessary damage to the commercial, economic and financial interests of another Party; (c) not exceed those necessary to deal with the circumstances described in paragraph 1 or 2; (d) be temporary and phased out progressively as the situation specified in paragraph 1 improves; and (e) be applied such that any one of the other Parties is treated no less favourably than any other Party or non-Party. 4. Measures adopted or maintained pursuant to paragraph 2 of this Article shall, in addition to subparagraphs 3{a) to (e) of this Article: (a) be phased out when conditions would no longer justify their institution or maintenance; (b) be applied on a national treatment basis; and (c) avoid unnecessary damage to investors and investments as referred to in subparagraph 1 (b) of Article 1 (Scope) of another Party. 5. Any restrictions adopted or maintained under paragraphs 1 and 2 of this Article or any changes therein, shall be promptly notified to the other Parties. 6. To the extent that it does not duplicate the process under the WTO, IMF, or any other similar processes, the Party adopting any restrictions under paragraph 1 of this Article shall, on the request of another Party, commence consultations in order to review the restrictions adopted by it.

Temporary Safeguard Measures. 1. A Party may adopt or maintain measures not conforming with its obligations under Article 3 (National Treatment) relating to cross-border capital transactions or Article 11 10 (Transfers) in the event of serious balance of payments and external financial difficulties or under threat thereof. 2. A Party may adopt or maintain measures not conforming with its obligations under Article 11 10 (Transfers) in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious economic or financial disturbance or serious difficulties for the operation of monetary or exchange rate policies in the Party concernedconcerned13. 3. The measures referred to in paragraphs 1 and 2 of this Article shall: (a) be consistent with the IMF Articles of AgreementAgreement of the IMF, as may be amended; (b) avoid unnecessary damage to the commercial, economic and financial interests of another any other Party; (c) not exceed those necessary to deal with the circumstances described in paragraph 1 or 2; (d) be temporary and phased out progressively as the situation specified in paragraph 1 improves; and (e) be applied such that any one anyone of the other Parties is treated no less favourably than any other Party or non-Party. 4. Measures adopted or maintained pursuant to paragraph 2 of this Article shall, in addition to subparagraphs 3{aparagraphs 3(a) to (e) of this Article:): (a) be phased out within one year or when conditions would no longer justify their institution or maintenancemaintenance14; (b) be applied on a national treatment basis; and (c) avoid unnecessary damage to investors and covered investments as referred to in subparagraph 1 (b) of Article 1 (Scope) of another any other Party. 5. Any restrictions adopted or maintained under paragraphs 1 and 2 of this Article or any changes therein, shall be promptly notified to the other Parties. 6. To the extent that it does not duplicate the process under the WTO, IMF, or any other similar processes, the Party adopting any restrictions under paragraph 1 of this Article shall, on the request of another Party, commence consultations in order to review the restrictions adopted by it.

Temporary Safeguard Measures. 1. A Party may adopt or maintain measures not conforming with its obligations under Article 3 (National Treatment) relating to cross-border capital transactions or Article 11 (Transfers) in the event of serious balance of payments and external financial difficulties or under threat thereof. 2. A Party may adopt or maintain measures not conforming with its obligations under Article 11 (Transfers) in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious economic or financial disturbance or serious difficulties for the operation of monetary or exchange rate policies in the Party concerned. 3. concerned.11 The measures referred to in paragraphs 1 and 2 of this Article shall: (a) : be consistent with the IMF Articles of Agreement, as may be amended; (b) ; avoid unnecessary damage to the commercial, economic and financial interests of another Party; (c) ; not exceed those necessary to deal with the circumstances described in paragraph 1 or 2; (d) ; be temporary and phased out progressively as the situation specified in paragraph 1 improves; and (e) and be applied such that any one of the other Parties is treated no less favourably than any other Party or non-Party. 4. Measures adopted or maintained pursuant to paragraph 2 of this Article shall, in addition to subparagraphs 3{a3(a) to (e) of this Article: (a) : be phased out when conditions would no longer justify their institution or maintenance; (b) ; be applied on a national treatment basis; and (c) and avoid unnecessary damage to investors and investments as referred to in subparagraph 1 (b1(b) of Article 1 (Scope) of another Party. 5. Any restrictions adopted or maintained under paragraphs 1 and 2 of this Article or any changes therein, shall be promptly notified to the other Parties. 6. To the extent that it does not duplicate the process under the WTO, IMF, or any other similar processes, the Party adopting any restrictions under paragraph 1 of this Article shall, on the request of another Party, commence consultations in order to review the restrictions adopted by it.

Temporary Safeguard Measures. 1. A Party may adopt or maintain measures not conforming with its obligations under Article 3 (National Treatment) relating to cross-border capital transactions or Article 11 10 (Transfers) in the event of serious balance of payments and external financial difficulties or under threat thereof. 2. A Party may adopt or maintain measures not conforming with its obligations under Article 11 10 (Transfers) in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious economic or financial disturbance or serious difficulties for the operation of monetary or exchange rate policies in the Party concernedconcerned (13). 3. The measures referred to in paragraphs 1 and 2 of this Article shall: (a) be consistent with the IMF Articles of AgreementAgreement of the IMF, as may be amended; (b) avoid unnecessary damage to the commercial, economic and financial interests of another any other Party; (c) not exceed those necessary to deal with the circumstances described in paragraph 1 or 2; (d) be temporary and phased out progressively as the situation specified in paragraph 1 improves; and (e) be applied such that any one of the other Parties is treated no less favourably than any other Party or non-Party. 4. Measures adopted or maintained pursuant to paragraph 2 of this Article shall, in addition to subparagraphs 3{aparagraphs 3(a) to (e) of this Article:): (a) be phased out within one year or when conditions would no longer justify their institution or maintenancemaintenance (14); (b) be applied on a national treatment basis; and (c) avoid unnecessary damage to investors and covered investments as referred to in subparagraph 1 (b) of Article 1 (Scope) of another any other Party. 5. Any restrictions adopted or maintained under paragraphs 1 and 2 of this Article or any changes changes' therein, shall be promptly notified to the other Parties. 6. To the extent that it does not duplicate the process under the WTO, IMF, or any other similar processes, the Party adopting any restrictions under paragraph 1 of this Article shall, on the request of another Party, commence consultations in order to review the restrictions adopted by it.

Temporary Safeguard Measures. ‌ 1. A Party may adopt or maintain measures not conforming with its obligations under Article 3 (National Treatment) relating to cross-border capital transactions or Article 11 10 (Transfers) in the event of serious balance of payments and external financial difficulties or under threat thereof. 2. A Party may adopt or maintain measures not conforming with its obligations under Article 11 10 (Transfers) in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious economic or financial disturbance or serious difficulties for the operation of monetary or exchange rate policies in the Party concernedconcerned13. 3. The measures referred to in paragraphs 1 and 2 of this Article shall: (a) be consistent with the IMF Articles of AgreementAgreement of the IMF, as may be amended; (b) avoid unnecessary damage to the commercial, economic and financial interests of another any other Party; (c) not exceed those necessary to deal with the circumstances described in paragraph 1 or 2; (d) be temporary and phased out progressively as the situation specified in paragraph 1 improves; and (e) be applied such that any one anyone of the other Parties is treated no less favourably than any other Party or non-Party. 4. Measures adopted or maintained pursuant to paragraph 2 of this Article shall, in addition to subparagraphs 3{aparagraphs 3(a) to (e) of this Article:): (a) be phased out within one year or when conditions would no longer justify their institution or maintenancemaintenance14; (b) be applied on a national treatment basis; and (c) avoid unnecessary damage to investors and covered investments as referred to in subparagraph 1 (b) of Article 1 (Scope) of another any other Party. 5. Any restrictions adopted or maintained under paragraphs 1 and 2 of this Article or any changes therein, shall be promptly notified to the other Parties. 6. To the extent that it does not duplicate the process under the WTO, IMF, or any other similar processes, the Party adopting any restrictions under paragraph 1 of this Article shall, on the request of another Party, commence consultations in order to review the restrictions adopted by it.

Temporary Safeguard Measures. 1. A Party may adopt or maintain measures not conforming with its obligations under Article 3 (National Treatment) relating to cross-border capital transactions or Article 11 (Transfers) in the event of serious balance of payments and external financial difficulties or under threat thereof. 2. A Party may adopt or maintain measures not conforming with its obligations under Article 11 (Transfers) in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious economic or financial disturbance or serious difficulties for the operation of monetary or exchange rate policies in the Party concernedconcerned.11 11 For greater certainty, any measures taken to ensure the stability of the exchange rate including to prevent speculative capital flows shall not be adopted or maintained for the purpose of protecting a particular sector. 3. The measures referred to in paragraphs 1 and 2 of this Article shall: (a) be consistent with the IMF Articles of Agreement, as may be amended; (b) avoid unnecessary damage to the commercial, economic and financial interests of another Party; (c) not exceed those necessary to deal with the circumstances described in paragraph 1 or 2; (d) be temporary and phased out progressively as the situation specified in paragraph 1 improves; and (e) be applied such that any one of the other Parties is treated no less favourably than any other Party or non-Party. 4. Measures adopted or maintained pursuant to paragraph 2 of this Article shall, in addition to subparagraphs 3{a3(a) to (e) of this Article: (a) be phased out when conditions would no longer justify their institution or maintenance; (b) be applied on a national treatment basis; and (c) avoid unnecessary damage to investors and investments as referred to in subparagraph 1 (b1(b) of Article 1 (Scope) of another Party. 5. Any restrictions adopted or maintained under paragraphs 1 and 2 of this Article or any changes therein, shall be promptly notified to the other Parties. 6. To the extent that it does not duplicate the process under the WTO, IMF, or any other similar processes, the Party adopting any restrictions under paragraph 1 of this Article shall, on the request of another Party, commence consultations in order to review the restrictions adopted by it.

Temporary Safeguard Measures. 1. A Party may adopt or maintain measures not conforming with its obligations under Article 3 (National Treatment) relating to cross-border capital transactions or Article 11 10 (Transfers) in the event of serious balance of payments and external financial difficulties or under threat thereof. 2. A Party may adopt or maintain measures not conforming with its obligations under Article 11 10 (Transfers) in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious economic or financial disturbance or serious difficulties for the operation of monetary or exchange rate policies in the Party concernedconcerned13. 3. The measures referred to in paragraphs 1 and 2 of this Article shall: (a) be consistent with the IMF Articles of AgreementAgreement of the IMF, as may be amended; (b) avoid unnecessary damage to the commercial, economic and financial interests of another any other Party; (c) not exceed those necessary to deal with the circumstances described in paragraph 1 or 2; (d) be temporary and phased out progressively as the situation specified 13 For greater certainty, any measures taken to ensure the stability of the exchange rate including to prevent speculative capital flows shall not be adopted or maintained for the purpose of protecting a particular sector. in paragraph 1 improves; and (e) be applied such that any one of the other Parties is treated no less favourably than any other Party or non-Party. 4. Measures adopted or maintained pursuant to paragraph 2 of this Article shall, in addition to subparagraphs 3{aparagraphs 3(a) to (e) of this Article:): (a) be phased out within one year or when conditions would no longer justify their institution or maintenancemaintenance14; (b) be applied on a national treatment basis; and (c) avoid unnecessary damage to investors and covered investments as referred to in subparagraph 1 (b) of Article 1 (Scope) of another any other Party. 5. Any restrictions adopted or maintained under paragraphs 1 and 2 of this Article or any changes therein, shall be promptly notified to the other Parties. 6. To the extent that it does not duplicate the process under the WTO, IMF, or any other similar processes, the Party adopting any restrictions under paragraph 1 of this Article shall, on the request of another Party, commence consultations in order to review the restrictions adopted by it.

Temporary Safeguard Measures. 1. A Party may adopt or maintain measures not conforming with its obligations under Article 3 (National Treatment) relating to cross-border capital transactions or Article 11 (Transfers) in the event of serious balance of payments and external financial difficulties or under threat thereof. 2. A Party may adopt or maintain measures not conforming with its obligations under Article 11 (Transfers) in cases where, in exceptional circumstances, movements of capital cause or threaten to cause serious economic or financial disturbance or serious difficulties for the operation of monetary or exchange rate policies in the Party concerned.concerned.11 3. The measures referred to in paragraphs 1 and 2 of this Article shall: (a) be consistent with the IMF Articles of Agreement, as may be amended; (b) avoid unnecessary damage to the commercial, economic and financial interests of another Party; (c) not exceed those necessary to deal with the circumstances described in paragraph 1 or 2; (d) be temporary and phased out progressively as the situation specified in paragraph 1 improves; and (e) be applied such that any one of the other Parties is treated no less favourably than any other Party or non-Party. 4. Measures adopted or maintained pursuant to paragraph 2 of this Article shall, in addition to subparagraphs 3{a3(a) to (e) of this Article: (a) be phased out when conditions would no longer justify their institution or maintenance; (b) be applied on a national treatment basis; and (c) avoid unnecessary damage to investors and investments as referred to in subparagraph 1 (b) of Article 1 (Scope) of another Party. 5. Any restrictions adopted or maintained under paragraphs 1 and 2 of this Article or any changes therein, shall be promptly notified to the other Parties. 6. To the extent that it does not duplicate the process under the WTO, IMF, or any other similar processes, the Party adopting any restrictions under paragraph 1 of this Article shall, on the request of another Party, commence consultations in order to review the restrictions adopted by it.