Import Restriction definition
Import Restriction means the cancellation of a previously valid import licence or the implementation of a law or order which directly prevents the due performance of a contract between the Insured and an Insured Buyer.
Import Restriction means the implementation of any law ( or regulation having the force of law) after dispatch of the shipment by the Insured by the Government of the Insured Buyer' s country which prohibits the import of goods into the Insured Buyer's country and which directly prevents payment of the Insured Debt.
Examples of Import Restriction in a sentence
Import Restriction happens when the Government of your Insured Customer's country to which the goods were dispatched implements a law, order, decree or regulation that prohibits the import of the goods.
Import Restriction means the implementation of any law or order, decree or regulation having the force of law, by the Government of the Insured Buyer’s country, after dispatch of the goods by the Insured, which in circumstances outside the control of the Insured and / or the Insured Buyer, prohibits the import of goods into the Insured Buyer’s country and which directly prevents payment of the Insured Debt.