Fallback method definition

Fallback method means the price valuation method stipulated under the Article 7 of the World Trade Organization (WTO)’s “Agreement on Implementation of Article VII of the General Agreement on Tariff and Trade 1994)”.
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Fallback method has been elected for a certain type of transaction and Party, the IM-Amounts for the Covered Transactions of this type to be provided to the relevant Party as IM-Security Receiver are to be calculated on the basis of ISDA-SIMMTM, unless one Party notifies the other Party in text form that the IM-Amounts need to be determined under EMIR on the basis of the Standard-Method for the relevant type of transaction. Where a Party receives such a notification, the IM-Amounts for the types of transactions specified in the notification are to be determined on the basis of the Standard Method from the later of the following two dates (“Fallback Date”): (i) IM-Bank Business Days following the receipt of the notification (ii) The point in time specified in the notification as of which, the determination is to be made on the basis of the Standard Method for this type of transaction. Dabei sind die IM-Beträge nur für solche erfassten Einzelabschlüsse dieser Geschäftsart nach der Standardisierten Methode zu berechnen, die nach dem Rückfallzeitpunkt abgeschlossen werden. The IM-Amounts are only to be calculated on the basis of the Standard Method for those Covered Transactions of the relevant type which have been concluded after the Fallback Date.
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Examples of Fallback method in a sentence

  • Reasonable means provided in Article 11 of the Rules is the same as the Fall-back method in Article 7 of the WTO Valuation Agreement if the customs value of the imported goods cannot be determined under the provisions of Articles 1 through 6 in WTO Agreement.

Related to Fallback method

  • Fallback Rate means, where a Permanent Discontinuation Trigger for an Applicable Benchmark Rate has occurred, the rate that applies to replace that Applicable Benchmark Rate in accordance with Condition 5.3(b)(i)(B);

  • Reference method means any direct test method of sampling and analyzing for an air pollutant as specified in 40 CFR 60, Appendix A*.

  • Alternative method means any method of sampling and analyzing for an air pollutant that is not a reference or equivalent method but that has been demonstrated to the satisfaction of the commissioner and the U.S. EPA to, in specific cases, produce results adequate for a determination of compliance.

  • ISDA Fallback Rate means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.

  • Payment Method means, in relation to any sum stated to be payable or paid pursuant to the Agreement, account name, account number, bank name, swift code, bank code and branch code or wallet address, in the case of a sum stated to be payable or paid by cryptocurrency specified by the payee of such sum at least five Business Days prior to the date of payment to the payee and in the case of Coinllectibles to the account notified to the payer from time to time and the payment of the Sale Price to Coinllectibles, which shall be paid by the Purchaser as soon as practicable after each sale of the DOT.