Common use of IMPORTS AND EXPORTS Clause in Contracts

IMPORTS AND EXPORTS. 21.1 Subject to the provisions of Article 10 above, the Contractor and its subcontractors shall have the right to import into the Republic of Guinea: (a) the equipment, machinery and vehicles necessary for Petroleum Operations, in respect of which all import duties and taxes shall be suspended; (b) the materials, spare parts and consumable items necessary for Petroleum Operations, exempt from all import duties and taxes. 21.2 The expatriate employees of the Contractor and its subcontractors as well as their families shall have the right to import into the Republic of Guinea. (a) the personal effects and household goods as well as the food stuffs they need, free of all import duties and taxes, (b) one (1) automobile per expatriate employee for his own use, in respect of which all import duties and taxes shall be suspended. 21.3 Subject to the provisions of Article 10 above, the Contractor, its subcontractors, their expatriate employees and their families may export from the Republic of Guinea, free of all export duties and taxes, the goods imported under Articles 21.1 and 21.2 above which are no longer needed for Petroleum Operations. 21.4 The goods imported under Articles 21.1 and 21.2 above which are no longer directly assigned to the Petroleum Operations or to the personal use of the expatriate employees may be sold in the Republic of Guinea by the Contractor, its subcontractors, or their expatriate employees, provided however that prior notice is given to the Minister. In this case, the seller shall fulfill all formalities prescribed by the Customs regulations in force and shall pay the duties and taxes which are applicable at the date of transaction, except if the aforementioned goods are transferred to other holders of Petroleum contracts concluded with the Government or a national company. 21.5 During the validity of this Contract, the Contractor shall have the unrestricted right to export, at the point exportation chosen for this purpose, exempt from all export duties and taxes, the share of Petroleum to which the Contractor is entitled under the provisions of this Contract. 21.6 All imports and exports made under this Contract shall be subject to the formalities required by customs.