GENERAL PROVISIONS ARTICLE I Clause Samples

GENERAL PROVISIONS ARTICLE I. A. The Government of the exporting country undertakes to finance the sale of agricultural commodities to purchasers authorized by the Government of the importing country in accordance with the terms and conditions set forth in this Agreement including the applicable Annex which is an integral part of this Agreement. B. The financing of the agricultural commodities listed in Part II of this Agreement will be subject to: 1. the issuance by the Government of the exporting country of purchase authorizations and their acceptance by the Government of the import ing country; 2. the availability of the specified commodities at the time of exportation. C. Application of purchase authorizations will be made within 90 days after the effective date of this Agreement, and, with respect to any additional commodities or amounts of commodities provided for in any supplementary agreement, within 90 days after the effective date of such supplementary agreement. Purchase authorizations shall include provisions relating to the sale and delivery of such commodities, and other relevant matters. D. Except as may be authorized by the Government of the exporting country, all deliveries of commodities sold under this Agreement shall be made within the supply period specified in the commodity table in Part II. E. The value of the total quantity of each commodity covered by the purchase authorizations for a specified type of financing authorized under this Agreement shall not exceed the maximum export market value specified for that commodity and type of financing in Part II. The Government of the exporting country may limit the total value of each commodity to be covered by purchase authorizations for a specified type of financing as price declines or other marketing factors may require, so that the quantities of such commodity sold under a specified type of financing will not substantially exceed the applicable approximate maximum quantity specified in Part II. F. The Government of the exporting country shall bear the ocean freight differential for commodities the Government of the exporting country requires to be transported in United State flag vessels (approximately 50 per cent by weight of the commodities sold under the Agreement). The ocean freight differential is deemed to be the amount, as determined by the Government of the exporting country, by which the cost of ocean transportation is higher (than would otherwise be the case) by reason of the requirement that the commodit...