Examples of using Countertrade commitment in English and their translations into French
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Colloquial
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Official
see chapter III,"Countertrade commitment", paragraphs 44-46, and 57-60.
In determining what sum is reasonable for an agreed sum covering delay in fulfilment of the countertrade commitment, parties may take into account circumstances that influenced the decision to include a liquidated damages or penalty clause in
the time period for fulfilment of the countertrade commitment may be extended and as a result continue beyond the expiry date of the guarantee see chapter III,"Countertrade commitment", paragraphs 16-19,
other military activity or civil unrest is to be considered as preventing fulfilment of a countertrade commitment.
The possibility of such disagreement over the responsibility for non-fulfilment of the countertrade commitment is increased when the parties to the countertrade transaction have not included in the countertrade agreement definite terms of the contract to be concluded see chapter III,"Countertrade commitment", paragraph 39.
Another possibility would be to provide for an open-ended guarantee that would terminate only when the countertrade commitment was fulfilled or the committed party was otherwise released from the commitment see chapter III,"Countertrade commitment", paragraphs 7-9.
see chapter III,"Countertrade commitment", paragraphs 20-23.
If the countertrade agreement does not address the participation of a thirdparty purchaser in the fulfilment of the countertrade commitment, the question may arise between the parties as to whether the party originally committed to purchase is free to engage a third party to make the purchases.
It is advisable that the reduction mechanism operate on the basis of the presentation to the guarantor of specified documents evidencing fulfilment of the countertrade commitment, without the guarantor being obligated to verify the degree to which the countertrade commitment has actually been fulfilled.
Similarly, if in a counter-purchase transaction the exporter fails to take the action necessary to fulfil the countertrade commitment, the question may arise whether the importer(counter-exporter)
a delay in the fulfilment or non-fulfilment of the countertrade commitment may provide the importer with a justification for suspending payment of the amounts due under the export contract
The party that fails to fulfil its countertrade commitment due to an impediment may, subject to the applicable law and to the provisions of the countertrade agreement, be granted additional time to fulfil the commitment or be released altogether from the countertrade commitment, and be exonerated from liability to pay damages.
Nevertheless, the parties may wish to address in the countertrade agreement the question of release from the countertrade commitment in order to establish a clear understanding as to the instances in which a party is to be released
Sometimes the parties to the countertrade agreement agree that the party making purchases beyond what is required to liquidate its outstanding countertrade commitment will be allowed to have the excess fulfilment credit counted towards fulfilment of countertrade commitments that the purchaser may have to assume in the future.
Sometimes the parties to the countertrade agreement agree that the party making purchases beyond what is required to liquidate its outstanding countertrade commitment will be allowed to have the excess fulfilment credit counted towards fulfilment of countertrade commitments that the purchaser
Moreover, the risk of non-payment under the export contract because of a problem in the fulfilment of the countertrade commitment may make it difficult for the exporter to find a financial institution to finance the export or to insure a non-payment risk.
it is in the interest of each party to have included in the clause the types of exempting impediments that could affect the ability of that party to take the actions required to fulfil the countertrade commitment.
be reinstated in the countertrade commitment.
When it is agreed at the time of conclusion of the countertrade agreement that a party should be entitled to monetary compensation if the other party fails to fulfil the countertrade commitment, an agreement on liquidated damages
which would not be counted towards fulfilment of the countertrade commitment.