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(NAR) VOL. II NO. 3 / JULY - SEPTEMBER 1991
[ GTEB CIRCULAR NO. 015, April 18, 1991 ]
AMENDMENT TO SECTION X NOS. 2 AND 5, PART I OF GTEB RULES AND REGULATIONS (WEIGHTED LVA FOR CRITICAL AND SEMI-CRITICAL CATEGORIES)
The Board considering the representations of the Industry Associations, and in order to provide garment manufacturers-exporters flexibility in receiving orders of their foreign buyers, APPROVED and CONFIRMED on 4 April 1991 the proposal of the industry to AMEND the above provisions of the GTEB Rules and Regulations as follows:
1. The weighted LVA (ALVA) in the preceding quota year shall be used for RANK VALUE purpose only for critical and semi-critical categories.
2. The award shall have an LVA based on the DECLARED LVA as indicated in the EA application/s.
3. The awardee shall comply at least 90% of its committed LVA (Declared LVA), otherwise it shall be subject to the penalty provisions of the rules (for restoration purposes and LVA shortfall penalties).
The above amendments shall take effect starting on 25-26 April 1991 bidding and every bidding thereafter.
For guidance.
Adopted: 18 Apr. 1991
(Sgd.) THELMA K. JOVER
GTEB Secretariat