Value System Agreement

7. When an amendment is proposed, the Fund approves or contradicts the proposed face value within a reasonable period of time after receiving the proposal. The Fund agrees when it is convinced that change is necessary to correct or prevent a fundamental imbalance. The Fund must not object to the internal social or political policy of the member proposing the amendment. A proposed change in face value will not come into effect for the purposes of this agreement if the Fund opposes it. If a member changes the face value of his currency despite the Fund`s objection, the member is subject to Article XXVI, Section 2. Maintaining an unrealistic face value by a member is deterred by the Fund. When a member withdraws from the Fund, the Fund`s normal operations and operations are interrupted in its currency and the settlement of all accounts between the Fund and the Fund is carried out by appropriate agreement between the Fund and the Fund. In the absence of agreement, the provisions of Schedule J apply to the count.

The agreement provides for the creation of a customs value assessment committee, made up of representatives from each member, to allow members to consult on issues relating to a member`s management of the customs assessment system or the promotion of the objectives of the agreement. Since the starting point for calculating the deduction value is the selling price in the country of import, various deductions are necessary to reduce this price to the corresponding customs value: the commissions normally paid or agreed, the sum of profits and general expenses added to sales must also be deducted; the usual transport costs and the corresponding insurance must be deducted from the price of goods when these costs are normally borne within the country of import; tariffs and other national taxes due in the country of import due to the import or sale of goods must also be deducted; Value added by assembly or processing, if any.