¹[29. Temporary Suspension of Preferential Treatment.- (1) The importing Party may suspend the tariff preference in respect of a product originating in the exporting Party when the suspension is justified due to persistent failure to comply with the provisions of these rules by an exporter or producer or manufacturer in the exporting Party or a persistent failure on the part of the competent authority to respond to a request for verification.

(2) The exporting Party shall, within fifteen days of the suspension of preferential tariff benefits for a product, be notified in writing of the reasons for such suspension.

(3) Upon receipt of the notification of the suspension, the competent authority of exporting Party may request consultations.

(4) The consultations may occur by means of electronic communications, video conference and/or meetings, or as mutually agreed, and may also involve joint verification.

(5) Pursuant to the consultations between both Parties, and such measures as the Parties may mutually agree, both Parties shall resolve to,-

(a) restore preferential benefits to the product with retrospective effect;

(b) restore preferential benefits to the product with prospective effect, subject to implementation of any mutually agreed measures by one or both Parties; or

(c) continue with the suspension of preferential benefits to the product, subject to remedies available under rule 30.]

Notes:

1. Inserted by the Notification No. 39/2022-Customs (N.T.) dated 30.04.2022.