„Escape Clause“

What does Escape Clause stand for?

1. A provision in a bilateral or multilateral commercial agreement permitting a signatory nation to change their obligations when imports threaten serious harm to the producers of competitive domestic goods.

2. A provision in a contract or other document permitting parties to avoid liability for nonperformance under certain conditions.

Source:

Krishna, K. (2005). “International Trade: Theory and Policy”. New York: Springer.

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