Common use of An importing Party Clause in Contracts

An importing Party. (a) shall not maintain a safeguard action for a period exceeding three years, except that the Party may extend the period by up to two years if the Party’s competent authorities determine, in conformity with the procedures set out in paragraphs 3 and 4, that the action continues to be necessary to prevent or remedy serious damage and to facilitate adjustment by the domestic industry, and that there is evidence that the industry is adjusting;