Determination of Price. 1. The prices, terms and conditions of payment, in kind or otherwise, in respect of the food grains so released shall be the subject of direct negotiations between the Member Countries concerned, based on the guidelines to be approved by the Board for determination of price, which shall be reviewed periodically. 2. The requesting Member Country shall specify the need (i.e. food shortage or emergency) while making the request. In the case of emergency, the humanitarian aspects would be given due importance while determining prices. 3. The determination of prices shall be done in accordance with the following broad principles: a. Price quoted, in general, shall be lower than prices generally charged or quoted for countries beyond the region; b. Price shall be representative of the market, both domestic and international, and may be adjusted suitably to reflect seasonal variations and the price movements in the recent past; and c. A responding Member Country shall endeavour to accord, as far as possible, national treatment in respect of calculating the cost components such as the ones related to storage, internal freight, interests, insurance and overhead charges, margin of losses etc., while maintaining its reserve and making releases.
Appears in 2 contracts
Sources: Agreement on Establishing the Saarc Food Bank, Agreement on Establishing the Saarc Food Bank