Common use of Right to Import Clause in Contracts

Right to Import. (a) The GOB encourages the Company and its Contractors to incorporate or consume as much locally produced material, equipment, and supplies as possible in the construction, Commissioning, operation and maintenance of the Facility. Nonetheless, the Company and its Contractors shall be entitled to import all items required for the design, construction, completion, operation and maintenance of the Facility, including, without exclusion, spare parts and replacements to the spare parts inventory. (b) Machinery, tools, implements and equipment that are necessary for the construction, erection, maintenance and testing of the Facility will be allowed temporary importation facilities, on a re-exportable basis under the Customs Act, 1969 (Act IV of 1969) as in existence on [Bid Date]. (c) All items not consumed or incorporated into the Facility may be freely re-exported by the Company without incurring liability for Customs Duties and VAT in Bangladesh. (d) The GOB may, as provided by the Laws of Bangladesh, require the Company to re-export any items or equipment used in the construction of the Facility that are not reasonably required for the Company to operate and maintain the Facility, unless the Company agrees promptly to pay the normal Customs Duties and VAT for those items and equipment. The Company shall be afforded a reasonable time, but not less than three