Singapore - United States FTA (2003)
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2. Each Party shall accord to financial institutions of the other Party and to investments of investors of the other Party in financial institutions treatment no less favorable than that it accords to its own financial institutions, and to investments of its own investors in financial institutions, in like circumstances, with respect to the establishment, acquisition, expansion, management, conduct, operation, and sale or other disposition of financial institutions and investments.

3. For purposes of the national treatment obligations in Article 10.5.1, a Party shall accord to cross-border financial service suppliers of the other Party treatment no less favorable than that it accords to its own financial service suppliers, in like circumstances, with respect to the supply of the relevant service.

Article 10.3. MOST-FAVORED-NATION TREATMENT

1. Each Party shall accord to investors of the other Party, financial institutions of the other Party, investments of investors in financial institutions, and cross-border financial service suppliers of the other Party treatment no less favorable than that it accords to the investors, financial institutions, investments of investors in financial institutions and cross-border financial service suppliers of a non-Party, in like circumstances.

2. A Party may recognize prudential measures of the other Party or of a non-Party in the application of measures covered by this Chapter. Such recognition may be:

(a) accorded unilaterally;

(b) achieved through harmonization or other means; or

(c) based upon an agreement or arrangement with the non-Party.

3. A Party according recognition of prudential measures under paragraph 2 shall provide adequate opportunity to the other Party to demonstrate that circumstances exist in which there are or would be equivalent regulation, oversight, implementation of regulation, and, if appropriate, procedures concerning the sharing of information between the Parties.

4. Where a Party accords recognition of prudential measures under paragraph 2(c) and the circumstances set out in paragraph 3 exist, the Party shall provide adequate opportunity to the other Party to negotiate accession to the agreement or arrangement, or to negotiate a comparable agreement or arrangement.

Article 10.4. MARKET ACCESS FOR FINANCIAL INSTITUTIONS

A Party shall not adopt or maintain, with respect to financial institutions of the other Party, (10-2) either on the basis of a regional subdivision or on the basis of its entire territory, measures that:

(a) impose limitations on

(i) the number of financial institutions whether in the form of numerical quotas, monopolies, exclusive service suppliers or the requirements of an economic needs test;

(ii) the total value of financial service transactions or assets in the form of numerical quotas or the requirement of an economic needs test;

(iii) the total number of financial service operations or the total quantity of financial services output expressed in terms of designated numerical units in the form of quotas or the requirement of an economic needs test; or

(iv) the total number of natural persons that may be employed in a particular financial service sector or that a financial institution may employ and who are necessary for, and directly related to, the supply of a specific financial service in the form of a numerical quota or the requirement of an economic needs test; or

(b) restrict or require specific types of legal entity or joint venture through which a financial institution may supply a service.

(10-2) For purposes of this Article, the term "financial institutions of the other Party"€ includes financial institutions that are located within the territory of the other Party and controlled by persons of the other Party that seek to establish financial institutions within the territory of the Party.

Article 10.5. CROSS-BORDER TRADE IN FINANCIAL SERVICES

1. Each Party shall permit, under terms and conditions that accord national treatment, cross-border financial service suppliers of the other Party to supply the services it has specified in Annex 10A.

2. Each Party shall permit persons located in its territory, and its nationals wherever located, to purchase financial services from cross-border financial service suppliers of the other Party located in the territory of the other Party. This obligation does not require a Party to permit such suppliers to do business or solicit in its territory. Each Party may define "doing business" and "solicitation" for purposes of this obligation, as long as such definitions are not inconsistent with paragraph 1.

Article 10.6. NEW FINANCIAL SERVICES

Each Party shall permit a financial institution of the other Party to supply any new financial service that the first Party would permit its own financial institutions, in like circumstances, to supply without additional legislative action by the first Party. Notwithstanding Article 10.4(b), a Party may determine the institutional and juridical form through which the new financial service may be supplied and may require authorization for the supply of the service. Where a Party requires such authorization of the new financial service, a decision shall be made within a reasonable time and the authorization may only be refused for prudential reasons. (10-3)

(10-3) The Parties understand that nothing in Article 10.6 prevents a financial institution of a Party from applying to the other Party to consider authorizing the supply of a financial service that is supplied in neither Party's territory. Such application shall be subject to the law of the Party to which the application is made and, for greater certainty, shall not be subject to the obligations of Article 10.6.

Article 10.7. TREATMENT OF CERTAIN INFORMATION

Nothing in this Chapter requires a Party to furnish or allow access to:

(a) information related to the financial affairs and accounts of individual customers of financial institutions or cross-border financial service suppliers; or

(b) any confidential information, the disclosure of which would impede law enforcement or otherwise be contrary to the public interest or prejudice legitimate commercial interests of particular enterprises.

Article 10.8. SENIOR MANAGEMENT AND BOARDS OF DIRECTORS

1. A Party may not require financial institutions of the other Party (10-4) to engage individuals of any particular nationality as senior managerial or other essential personnel.

2. A Party may not require that more than a simple majority of the board of directors of a financial institution of the other Party be composed of nationals of the Party, persons residing in the territory of the Party, or a combination thereof.

(10-4) For purposes of this Article, the term “financial institutions of the other Party” includes financial institutions that are located within the territory of the other Party and controlled by persons of the other Party that seek to establish financial institutions within the territory of the Party.

Article 10.9. NON-CONFORMING MEASURES

1. Articles 10.2 through 10.5 and 10.8 do not apply to:

(a) any existing non-conforming measure that is maintained by a Party at

(i) the central level of government, as set out by that Party in its Schedule to Annex 10B,

(ii) a regional level of government, as set out by that Party in its Schedule to Annex 10B, or

(iii) a local level of government;

(b) the continuation or prompt renewal of any non-conforming measure referred to in subparagraph (a); or

(c) an amendment to any non-conforming measure referred to in subparagraph (a) to the extent that the amendment does not decrease the conformity of the measure, as it existed immediately before the amendment, with Articles 10.2 through 10.4 and 10.8.

2. Annex 10C sets out certain specific commitments by each Party.

3. A non-conforming measure set out in a Party's Schedule to Annex 8A or 8B as a measure to which Article 8.3 (National Treatment), 8.4 (Most-Favored-Nation Treatment), 8.5 (Market Access), or 15.4 (National Treatment and Most-Favored-Nation Treatment) does not apply shall be treated as a non-conforming measure described in paragraph 1(a) to which Article 10.2, 10.3, or 10.4, as the case may be, does not apply, to the extent that the measure, sector, sub-sector or activity set out in the schedule of non-conforming measures is covered by this Chapter.

Article 10.10. EXCEPTIONS

1. Notwithstanding any other provision of this Chapter or Chapters 9 (Telecommunications), 14 (Electronic Commerce), or 15 (Investment), including specifically Article 9.15 (Relationship to Other Chapters), and in addition Article 8.2.2 (Scope and Coverage) with respect to the supply of financial services in the territory of a Party by an investor of the other Party or a covered investment, a Party shall not be prevented from adopting or maintaining measures for prudential reasons, (10-5) including for the protection of investors, depositors, policy holders or persons to whom a fiduciary duty is owed by a financial institution or cross-border financial service supplier, or to ensure the integrity and stability of the financial system. Where such measures do not conform with the provisions of this Agreement referred to in this paragraph, they shall not be used as a means of avoiding the Party's commitments or obligations under such provisions.

2. Nothing in this Chapter or Chapters 9 (Telecommunications), 14 (Electronic Commerce), or 15 (Investment), including specifically Article 9.15 (Relationship to Other Chapters), and in addition Article 8.2.2 (Scope and Coverage) with respect to the supply of financial services in the territory of a Party by an investor of the other Party or a covered investment, applies to non- discriminatory measures of general application taken by any public entity in pursuit of monetary and related credit policies or exchange rate policies. This paragraph shall not affect a Party's obligations under Article 8.10 (Transfers and Payments), Article15.7 (Transfers), or Article 15.8 (Performance Requirements).

3. Notwithstanding Articles 8.10 (Transfers and Payments) and 15.7 (Transfers), as incorporated into this Chapter, a Party may prevent or limit transfers by a financial institution or cross-border financial service supplier to, or for the benefit of, an affiliate of or person related to such institution or supplier, through the equitable, non-discriminatory and good faith application of measures relating to maintenance of the safety, soundness, integrity or financial responsibility of financial institutions or cross-border financial service suppliers. This paragraph does not prejudice any other provision of this Agreement that permits a Party to restrict transfers.

4. For greater certainty, nothing in this Chapter shall be construed to prevent the adoption or enforcement by a Party of measures necessary to secure compliance with laws or regulations that are not inconsistent with this Chapter including those relating to the prevention of deceptive and fraudulent practices or to deal with the effects of a default on financial services contracts, subject to the requirement that such measures are not applied in a manner which would constitute a means of arbitrary or unjustifiable discrimination between countries where like conditions prevail, or a disguised restriction on investment in financial institutions or cross-border trade in financial services.

(10-5) It is understood that the term "prudential reasons" includes the maintenance of the safety, soundness, integrity or financial responsibility of individual financial institutions or cross-border financial service suppliers.

Article 10.11. TRANSPARENCY

1. The Parties recognize that transparent regulations and policies governing the activities of financial institutions and cross-border financial service suppliers are important in facilitating the ability of financial institutions located outside the territory of the Party, financial institutions of the other Party, and cross-border financial service suppliers to gain access to and operate in each other's markets. Each Party commits to promote regulatory transparency in financial services. Accordingly, the Financial Services Committee established under Article 10.16 shall consult with the goal of promoting objective and transparent regulatory processes in each Party, taking into account (1) the work undertaken by the Parties in the General Agreement on Trade in Services and the Parties' work in other fora relating to trade in financial services and (2) the importance for regulatory transparency of identifiable policy objectives and clear and consistently applied regulatory processes that are communicated or otherwise made available to the public.

2. In lieu of Article 19.3.2 (Publication), each Party shall, to the extent practicable,

(a) publish in advance any regulations of general application relating to the subject matter of this Chapter that it proposes to adopt; and

(b) provide interested persons and the other Party a reasonable opportunity to comment on such proposed regulations.

3. Each Party's regulatory authorities shall make available to interested persons their requirements, including any documentation required, for completing applications relating to the supply of financial services.

4. On the request of an applicant, the regulatory authority shall inform the applicant of the status of its application. If such authority requires additional information from the applicant, it shall notify the applicant without undue delay.

5. A regulatory authority shall make an administrative decision on a completed application of an investor in a financial institution, a financial institution or a cross-border financial service supplier of the other Party relating to the supply of a financial service within 120 days, and shall promptly notify the applicant of the decision. An application shall not be considered complete until all relevant hearings are held and all necessary information is received. Where it is not ptacticable for a decision to be made within 120 days, the regulatory authority shall notify the applicant without undue delay and shall endeavor to make the decision within a reasonable time thereafter.

6. Each Party shall maintain or establish appropriate mechanisms that will respond to inquiries from interested persons regarding measures of general application covered by this Chapter.

7. Each Party shall ensure that the rules of general application adopted or maintained by self-regulatory organizations of the Party are promptly published or otherwise made available in such a manner as to enable interested persons to become acquainted with them.

8. To the extent practicable, each Party should allow reasonable time between publication of final regulations and their effective date.

9. At the time it adopts final regulations, a Party should, to the extent practicable, address in writing substantive comments received from interested persons with respect to the proposed regulations.

Article 10.12. SELF-REGULATORY ORGANIZATIONS

Where a Party requires a financial institution or a cross-border financial service supplier of the other Party to be a member of, participate in, or have access to, a self-regulatory organization to provide a financial service in or into the territory of that Party, the Party shall ensure observance of the obligations of Articles 10.2 and 10.3 by such self-regulatory organization.

Article 10.13. PAYMENT AND CLEARING SYSTEMS

Under terms and conditions that accord national treatment, each Party shall grant to financial institutions of the other Party established in its territory access to payment and clearing systems operated by public entities, and to official funding and refinancing facilities available in the normal course of ordinary business. This paragraph is not intended to confer access to the Party’s lender of last resort facilities.

Article 10.14. DOMESTIC REGULATION

Except with respect to non-conforming measures listed in its schedule to Annex 10B, each Party shall ensure that all measures of general application to which this Chapter applies are administered in a reasonable, objective and impartial manner.

Article 10.15. EXPEDITED AVAILABILITY OF INSURANCE SERVICES

The Parties recognize the importance of maintaining and developing regulatory procedures to expedite the offering of insurance services by licensed suppliers. The Parties recognize the importance of consulting, as necessary, regarding any such initiatives.

Article 10.16. FINANCIAL SERVICES COMMITTEE

1. The Parties hereby establish a Financial Services Committee. The principal representative of each Party shall be an official of the Party’s authority responsible for financial services set out in Annex 10D.

2. The Committee shall:

(a) supervise the implementation of this Chapter and its further elaboration;

(b) consider issues regarding financial services that are referred to it by a Party; and

(c) participate in the dispute settlement procedures in accordance with Article 10.19.

3, The Committee shall meet annually, or as otherwise agreed, to assess the functioning of this Agreement as it applies to financial services. The Committee shall inform the Joint Committee established under Article 20.1 (Joint Committee) of the results of each meeting.

Article 10.17. CONSULTATIONS

1. A Party may request consultations with the other Party regarding any matter arising under this Agreement that affects financial services. The other Party shall give sympathetic consideration to the request. The Parties shall report the results of their consultations to the Financial Services Committee.

2. Consultations under this Article shall include officials of the authorities specified in Annex 10D.

Article 10.18. DISPUTE SETTLEMENT

1. Article 20.4 (Additional Dispute Settlement Procedures) applies as modified by this Article to the settlement of disputes arising under this Chapter.

2. When a Party claims that a dispute arises under this Chapter, Article 20.4.4(a) (Additional Dispute Settlement Procedures) shall apply, except that:

(a) where the Parties so agree, the panel shall be composed entirely of panelists meeting the qualifications in paragraph 3;

(b) in any other case, 

(i) each Party may select panelists meeting the qualifications set out in paragraph 3 or Article 20.4.4(c) (Additional Dispute Settlement Procedures), and

(ii) if the Party complained against invokes Article 10.10 (Exceptions), the chair of the panel shall meet the qualifications set out in paragraph 3, unless the Parties agree otherwise.

3. Financial services panelists shall:

(a) have expertise or experience in financial services law or practice, which may include the regulation of financial institutions;

(b) be chosen strictly on the basis of objectivity, reliability and sound judgment; and

(c) meet the qualifications set out in Article 20.4.4(b)(ii) and 20.4.4(b)(iii) (Additional Dispute Settlement Procedures).

Notwithstanding Article 20.6 (Non-Implementation), where a Panel finds a measure to be inconsistent with this Agreement and the measure under dispute affects:

(a) only the financial services sector, the complaining Party may suspend benefits only in the financial services sector;

(b) the financial services sector and any other sector, the complaining Party may suspend benefits in the financial services sector that have an effect equivalent to the effect of the measure in the Party's financial services sector; or

(c) only a sector other than the financial services sector, the complaining Party may not suspend benefits in the financial services sector.

Article 10.19. INVESTMENT DISPUTES IN FINANCIAL SERVICES

1. Where an investor of a Party submits a claim under Section C of Chapter 15 (investor- State Dispute Settlement) against the other Party and the respondent invokes Article 10.10, on request of the respondent, the tribunal shall refer the matter in writing to the Financial Services Committee for a decision. The tribunal may not proceed pending receipt of a decision or report under this Article.

2. In a referral pursuant to paragraph 1, the Financial Services Committee shall decide the issue of whether and to what extent Article 10.10 is a valid defense to the claim of the investor. The Committee shall transmit a copy of its decision to the tribunal and to the Joint Committee. The decision shall be binding on the tribunal.

3. Where the Financial Services Committee has not decided the issue within 60 days of the receipt of the referral under paragraph 1, the respondent or the Party of the claimant may request the establishment of a panel under Article 20.4.4 (Additional Dispute Settlement Procedures). The panel shall be constituted in accordance with Article 10.18. The panel shall transmit its final report to the Committee and to the tribunal. The report shall be binding on the tribunal.

4. Where no request for the establishment of a panel pursuant to paragraph 3 has been made within 10 days of the expiration of the 60-day period referred to in paragraph 3, a tribunal may proceed to decide the matter.

5. For purposes of this Article, tribunal means a tribunal established pursuant to Section C of Chapter 15 (Investor-State Dispute Settlement).

Article 10.20. DEFINITIONS

For purposes of this Chapter:

1. central level means

(a) for the United States, the federal level, and

(b) for Singapore, the national level;

2. cross-border financial service supplier of a Party means a person of a Party that is engaged in the business of supplying a financial service within the territory of the Party and that seeks to supply or supplies financial services through the cross-border supply of such services;

3. cross-border supply of a financial service or cross-border trade in financial services means the supply of a financial service:

(a) from the territory of one Party into the territory of the other Party,

(b) in the territory of one Party by a person of that Party to a person of the other Party, or

(c) by a national of one Party in the territory of the other Party,

but does not include the supply of a financial service in the territory of one Party by an investor of the other Party, or investments of such investors, in financial institutions in the Party's territory.

4. financial institution means any financial intermediary or other institution that is authorized to do business and regulated or supervised as a financial institution under the law of the Party in whose territory it is located;

5. financial institution of the other Party means a financial institution, including a branch, located in the territory of a Party that is controlled by persons of the other Party;

6. financial service means any service of a financial nature. Financial services include all insurance and insurance-related services, and all banking and other financial services (excluding insurance), as well as services incidental or auxiliary to a service of a financial nature. Financial services include the following activities:

Insurance and insurance-related services

(a) Direct insurance (including co-insurance):

(i) life

(ii) non-life

(b) Reinsurance and retrocession;

(c) Insurance intermediation, such as brokerage and agency;

(d) Service auxiliary to insurance, such as consultancy, actuarial, risk assessment and claim settlement services.

Banking and other financial services (excluding insurance)

(e) Acceptance of deposits and other repayable funds from the public;

(f) Lending of all types, including consumer credit, mortgage credit, factoring and financing of commercial transactions;

(g) Financial leasing;

(h) All payment and money transmission services, including credit, charge and debit cards, travelers checks and bankers drafts;

(i) Guarantees and commitments;

(j) Trading for own account or for account of customers, whether on an exchange, in an over-the-counter market or otherwise, the following:

(i) money market instruments (including checks, bills, certificates of deposits);

(ii) foreign exchange;

(iii) derivative products including, but not limited to, futures and options;

(iv) exchange rate and interest rate instruments, including products such as swaps, forward rate agreements;

(v) transferable securities;

(vi) other negotiable instruments and financial assets, including bullion;

(k) Participation in issues of all kinds of securities, including underwriting and placement as agent (whether publicly or privately) and supply of services related to such issues;

(l) Money broking;

(m) Asset management, such as cash or portfolio management, all forms of collective investment management, pension fund management, custodial, depository and trust services;

(n) Settlement and clearing services for financial assets, including securities, derivative products, and other negotiable instruments;

(o) Provision and transfer of financial information, and financial data processing and related software by suppliers of other financial services;

(p) Advisory, intermediation and other auxiliary financial services on all the activities listed in subparagraphs (e) through (o), including credit reference and analysis, investment and portfolio research and advice, advice on acquisitions and on corporate restructuring and strategy.

7. financial service supplier of a Party means a person of a Party that is engaged in the business of supplying a financial service within the territory of that Party;

8. investment means "investment" as defined in Article 15.1.13 (Definitions), except that, with respect to "loans" and "debt instruments" referred to in that Article:

(a) a loan to or debt instrument issued by a financial institution is an investment only where it is treated as regulatory capital by the Party in whose territory the institution is located; and

(b) a loan granted by or debt instrument owned by a financial institution, other than a loan to or debt instrument of a financial institution referred to in subparagraph (a), is not an investment.

For greater certainty, a loan granted by or debt instrument owned by a cross-border financial service supplier, other than a loan to or debt instrument issued by a financial institution, is an investment if such loan or debt instrument meets the criteria for investments set out in Article 15.1.13 (Definitions).

9. investor of a Party means a Party or state enterprise thereof, or a person of that Party, that attempts to make, is making, or has made an investment in the territory of the other Party; provided, however, that a natural person who is a dual national shall be deemed to be exclusively a national of the State of his/her dominant and effective nationality;

10. new financial service means, for purposes of Article 10.6, a financial service not supplied in the territory of the first Party that is supplied within the territory of the other Party, and includes any new form of delivery of a financial service or the sale of a financial product that is not sold in the first Party’s territory.

11. person of a Party means "person of a Party" as defined in Article 1.2 (General Definitions) and, for greater certainty, does not include a branch of an institution of a non-party;

12. public entity means a central bank or monetary authority of a Party, or any financial institution owned or controlled by a Party that is principally engaged in carrying out governmental functions or activities for governmental purposes, not including an entity principally engaged in supplying financial services on commercial terms; for greater certainty, a public entity (10-6) shall not be considered a designated monopoly or a government enterprise for purposes of Chapter 12 (Anticompetitive Business Conduct, Designated Monopolies and Government Enterprises);

(10-6) The Federal Deposit Insurance Corporation of the United States and any entity that administers a deposit insurance scheme in Singapore shall be deemed to be within the definition of public entity for purposes of Chapter 12 (Anticompetitive Business Conduct, Government Monopolies, and Government Enterprises
  • Chapter   1 ESTABLISHMENT OF A FREE TRADE AREA AND DEFINITIONS 1
  • Article   1.1 GENERAL 1
  • Article   1.2 GENERAL DEFINITIONS 1
  • ANNEX 1A  CERTAIN DEFINITIONS 1
  • Chapter   2 NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS 1
  • Article   2.1 NATIONAL TREATMENT 1
  • Article   2.2 ELIMINATION OF DUTIES 1
  • Article   2.3 CUSTOMS VALUE 1
  • Article   2.4 EXPORT TAX 1
  • Article   2.5 TEMPORARY ADMISSION 1
  • Article   2.6 GOODS RE-ENTERED AFTER REPAIR OR ALTERATION 1
  • Article   2.7 IMPORT AND EXPORT RESTRICTIONS 1
  • Article   2.8 MERCHANDISE PROCESSING FEE 1
  • Article   2.9 DISTILLED SPIRITS 1
  • Article   2.10 BROADCASTING APPARATUS 1
  • Article   2.11 CHEWING GUM 1
  • Article   2.12 TARIFF TREATMENT OF NON-ORIGINATING COTTON AND MAN-MADE FIBER APPAREL GOODS (TARIFF PREFERENCE LEVELS) 1
  • Article   2.13 DEFINITIONS 1
  • Chapter   3 RULES OF ORIGIN 1
  • Section   A ORIGIN DETERMINATION 1
  • Article   3.1 ORIGINATING GOODS 1
  • Article   3.2 TREATMENT OF CERTAIN PRODUCTS 1
  • Article   3.3 DE MINIMIS 1
  • Article   3.4 ACCUMULATION 2
  • Article   3.5 REGIONAL VALUE CONTENT 2
  • Article   3.6 VALUE OF MATERIALS 2
  • Article   3.7 ACCESSORIES, SPARE PARTS, AND TOOLS 2
  • Article   3.8 FUNGIBLE GOODS AND MATERIALS 2
  • Article   3.9 PACKAGING MATERIALS AND CONTAINERS FOR RETAIL SALE 2
  • Article   3.10 PACKING MATERIALS AND CONTAINERS FOR SHIPMENT 2
  • Article   3.11 INDIRECT MATERIALS 2
  • Article   3.12 THIRD COUNTRY TRANSPORTATION 2
  • Section   B SUPPORTING INFORMATION AND VERIFICATION 2
  • Article   3.13 CLAIMS FOR PREFERENTIAL TREATMENT 2
  • Article   3.14 OBLIGATIONS RELATING TO IMPORTATIONS 2
  • Article   3.15 RECORD KEEPING REQUIREMENT 2
  • Article   3.16 VERIFICATION 2
  • Article   3.17 CERTAIN APPAREL GOODS 2
  • Section   C CONSULTATION AND MODIFICATIONS 2
  • Article   3.18 CONSULTATION AND MODIFICATIONS 2
  • Section   D DEFINITIONS 2
  • Article   3.19 DEFINITIONS 2
  • Section   E APPLICATION AND INTERPRETATION 2
  • Article   3.20 APPLICATION AND INTERPRETATION 2
  • Chapter   4 CUSTOMS ADMINISTRATION 2
  • Article   4.1 PUBLICATION AND NOTIFICATION 2
  • Article   4.2 ADMINISTRATION 3
  • Article   4.3 ADVANCE RULINGS 3
  • Article   4.4 REVIEW AND APPEAL 3
  • Article   4.5 COOPERATION 3
  • Article   4.6 CONFIDENTIALITY 3
  • Article   4.7 PENALTIES 3
  • Article   4.8 RELEASE AND SECURITY 3
  • Article   4.9 RISK ASSESSMENT 3
  • Article   4.10 EXPRESS SHIPMENTS 3
  • Article   4.11 DEFINITIONS 3
  • Chapter   5 TEXTILES AND APPAREL 3
  • Article   5.1 SCOPE 3
  • Article   5.2 ANTI-CIRCUMVENTION 3
  • Article   5.3 MONITORING 3
  • Article   5.4 COOPERATION 3
  • Article   5.5 ENFORCEMENT 4
  • Article   5.6 INFORMATION SHARING 4
  • Article   5.7 CONFIDENTIALITY 4
  • Article   5.8 CONSULTATIONS AND RELATED MATTERS 4
  • Article   5.9 BILATERAL TEXTILE AND APPAREL SAFEGUARD ACTIONS 4
  • Article   5.10 EFFECTIVE DATE 4
  • Article   5.11 DEFINITIONS 4
  • Chapter   6 TECHNICAL BARRIERS TO TRADE 4
  • Article   6.1 SCOPE 4
  • Article   6.2 ENHANCED COOPERATION AND CHAPTER 6 COORDINATOR 4
  • Article   6.3 CONFORMITY ASSESSMENT AND OTHER AREAS OF MUTUAL INTEREST 4
  • Article   6.4 DEFINITIONS 4
  • Chapter   7 SAFEGUARDS 4
  • Article   7.1 APPLICATION OF A BILATERAL SAFEGUARD MEASURE 4
  • Article   7.2 CONDITIONS AND LIMITATIONS 4
  • Article   7.3 PROVISIONAL MEASURES 4
  • Article   7.4 COMPENSATION 4
  • Article   7.5 GLOBAL SAFEGUARD MEASURES 4
  • Article   7.6 DEFINITIONS 4
  • Chapter   8 CROSS-BORDER TRADE IN SERVICES 4
  • Article   8.1 DEFINITIONS 5
  • Article   8.2 SCOPE AND COVERAGE 5
  • Article   8.3 NATIONAL TREATMENT 5
  • Article   8.4 MOST-FAVORED-NATION TREATMENT 5
  • Article   8.5 MARKET ACCESS 5
  • Article   8.6 LOCAL PRESENCE 5
  • Article   8.7 NON-CONFORMING MEASURES 5
  • Article   8.8 DOMESTIC REGULATION 5
  • Article   8.9 RECOGNITION 5
  • Article   8.10 TRANSFERS AND PAYMENTS 5
  • Article   8.11 DENIAL OF BENEFITS 5
  • Article   8.12 TRANSPARENCY IN DEVELOPMENT AND APPLICATION OF REGULATIONS 5
  • Article   8.13 IMPLEMENTATION 5
  • Chapter   9 TELECOMMUNICATIONS 5
  • Article   9.1 SCOPE AND COVERAGE 5
  • Article   9.2 ACCESS TO AND USE OF PUBLIC TELECOMMUNICATIONS TRANSPORT NETWORKS AND SERVICES  (9-2) 5
  • Article   9.3 INTERCONNECTION WITH SUPPLIERS OF PUBLIC TELECOMMUNICATIONS SERVICES 5
  • Article   9.4 CONDUCT OF MAJOR SUPPLIERS (9-3) (9-4) 5
  • Article   9.5 SUBMARINE CABLE LANDING STATIONS 6
  • Article   9.6 INDEPENDENT REGULATION AND PRIVATIZATION 6
  • Article   9.7 UNIVERSAL SERVICE 6
  • Article   9.8 LICENSING PROCESS 6
  • Article   9.9 ALLOCATION AND USE OF SCARCE RESOURCES (9-11) 6
  • Article   9.10 ENFORCEMENT 6
  • Article   9.11 RESOLUTION OF DOMESTIC TELECOMMUNICATIONS DISPUTES 6
  • Article   9.12 TRANSPARENCY 6
  • Article   9.13 FLEXIBILITY IN THE CHOICE OF TECHNOLOGIES 6
  • Article   9.14 FORBEARANCE AND MINIMAL REGULATORY ENVIRONMENT 6
  • Article   9.15 RELATIONSHIP TO OTHER CHAPTERS 6
  • Article   9.16 DEFINITIONS 6
  • Chapter   10 FINANCIAL SERVICES 6
  • Article   10.1 SCOPE AND COVERAGE 6
  • Article   10.2 NATIONAL TREATMENT 6
  • Article   10.3 MOST-FAVORED-NATION TREATMENT 7
  • Article   10.4 MARKET ACCESS FOR FINANCIAL INSTITUTIONS 7
  • Article   10.5 CROSS-BORDER TRADE IN FINANCIAL SERVICES 7
  • Article   10.6 NEW FINANCIAL SERVICES 7
  • Article   10.7 TREATMENT OF CERTAIN INFORMATION 7
  • Article   10.8 SENIOR MANAGEMENT AND BOARDS OF DIRECTORS 7
  • Article   10.9 NON-CONFORMING MEASURES 7
  • Article   10.10 EXCEPTIONS 7
  • Article   10.11 TRANSPARENCY 7
  • Article   10.12 SELF-REGULATORY ORGANIZATIONS 7
  • Article   10.13 PAYMENT AND CLEARING SYSTEMS 7
  • Article   10.14 DOMESTIC REGULATION 7
  • Article   10.15 EXPEDITED AVAILABILITY OF INSURANCE SERVICES 7
  • Article   10.16 FINANCIAL SERVICES COMMITTEE 7
  • Article   10.17 CONSULTATIONS 7
  • Article   10.18 DISPUTE SETTLEMENT 7
  • Article   10.19 INVESTMENT DISPUTES IN FINANCIAL SERVICES 7
  • Article   10.20 DEFINITIONS 7
  • Chapter   11 TEMPORARY ENTRY OF BUSINESS PERSONS 8
  • Article   11.1 DEFINITIONS 8
  • Article   11.2 GENERAL PRINCIPLES 8
  • Article   11.3 GENERAL OBLIGATIONS 8
  • Article   11.4 GRANT OF TEMPORARY ENTRY 8
  • Article   11.5 REGULATORY TRANSPARENCY 8
  • Article   11.6 PROVISION OF INFORMATION 8
  • Article   11.7 TEMPORARY ENTRY COORDINATORS 8
  • Article   11.8 DISPUTE SETTLEMENT 8
  • Article   11.9 RELATION TO OTHER CHAPTERS 8
  • Annex 11A  8
  • Section   I BUSINESS VISITORS 8
  • Section   II TRADERS AND INVESTORS 8
  • Section   III INTRA-COMPANY TRANSFEREES 8
  • Section   IV PROFESSIONALS 8
  • Chapter   12 ANTICOMPETITIVE BUSINESS CONDUCT, DESIGNATED MONOPOLIES, AND GOVERNMENT ENTERPRISES 8
  • Article   12.1 OBJECTIVES 8
  • Article   12.2 ANTICOMPETITIVE BUSINESS CONDUCT 8
  • Article   12.3 DESIGNATED MONOPOLIES AND GOVERNMENT ENTERPRISES 8
  • Article   12.4 COOPERATION 8
  • Article   12.5 TRANSPARENCY AND INFORMATION REQUESTS 8
  • Article   12.6 CONSULTATIONS 8
  • Article   12.7 DISPUTES 8
  • Article   12.8 DEFINITIONS 8
  • Chapter   13 GOVERNMENT PROCUREMENT 9
  • Article   13.1 GENERAL 9
  • Article   13.2 SCOPE AND COVERAGE 9
  • Article   13.3 INCORPORATION OF GPA PROVISIONS 9
  • Article   13.4 EXCEPTIONS 9
  • Article   13.5 MODIFICATIONS AND RECTIFICATIONS TO COVERAGE 9
  • Article   13.6 DEFINITIONS 9
  • Chapter   14 ELECTRONIC COMMERCE 9
  • Article   14.1 GENERAL 9
  • Article   14.2 ELECTRONIC SUPPLY OF SERVICES 9
  • Article   14.3 DIGITAL PRODUCTS 9
  • Article   14.4 DEFINITIONS 9
  • Chapter   15 INVESTMENT 9
  • Section   A DEFINITIONS 9
  • Section   B INVESTMENT 10
  • Article   15.2 SCOPE AND COVERAGE 10
  • Article   15.3 RELATION TO OTHER CHAPTERS 10
  • Article   15.4 NATIONAL TREATMENT AND MOST-FAVORED-NATION TREATMENT 10
  • Article   15.5 MINIMUM STANDARD OF TREATMENT (15-8) 10
  • Article   15.6 EXPROPRIATION (15-9) 10
  • Article   15.7 TRANSFERS (15-10) 10
  • Article   15.8 PERFORMANCE REQUIREMENTS (15-11) 10
  • Article   15.9 SENIOR MANAGEMENT AND BOARDS OF DIRECTORS 10
  • Article   15.10 INVESTMENT AND ENVIRONMENT 10
  • Article   15.11 DENIAL OF BENEFITS 10
  • Article   15.12 NON-CONFORMING MEASURES 10
  • Article   15.13 SPECIAL FORMALITIES AND INFORMATION REQUIREMENTS 10
  • Section   C INVESTOR-STATE DISPUTE SETTLEMENT 10
  • Article   15.14 CONSULTATION AND NEGOTIATION 10
  • Article   15.15 SUBMISSION OF A CLAIM TO ARBITRATION (15-12) 10
  • Article   15.16 CONSENT OF EACH PARTY TO ARBITRATION 11
  • Article   15.17 CONDITIONS AND LIMITATIONS ON CONSENT OF EACH PARTY 11
  • Article   15.18 SELECTION OF ARBITRATORS 11
  • Article   15.19 CONDUCT OF THE ARBITRATION 11
  • Article   15.20 TRANSPARENCY OF ARBITRAL PROCEEDINGS 11
  • Article   15.21 GOVERNING LAW 11
  • Article   15.22 INTERPRETATION OF ANNEXES 11
  • Article   15.23 EXPERT REPORTS 11
  • Article   15.24 CONSOLIDATION 11
  • Article   15.25 AWARDS 11
  • Article   15.26 STATUS OF LETTER EXCHANGES 11
  • Article   15.27 SERVICE OF DOCUMENTS 11
  • Annex 15 A  TRANSFERS 11
  • Annex 15-B  PERFORMANCE REQUIREMENTS 11
  • Annex 15-C  PERFORMANCE REQUIREMENTS 11
  • Annex 15D  SERVICE OF DOCUMENTS ON A PARTY UNDER SECTION C 11
  • Chapter   16 INTELLECTUAL PROPERTY RIGHTS 11
  • Article   16.1 GENERAL PROVISIONS 11
  • Article   16.2 TRADEMARKS, INCLUDING GEOGRAPHICAL INDICATIONS 12
  • Article   16.3 DOMAIN NAMES ON THE INTERNET 12
  • Article   16.4 OBLIGATIONS COMMON TO COPYRIGHT AND RELATED RIGHTS 12
  • Article   16.5 OBLIGATIONS PERTAINING TO RELATED RIGHTS 12
  • Article   16.6 PROTECTION OF ENCRYPTED PROGRAM-CARRYING SATELLITE SIGNALS 12
  • Article   16.7 PATENTS 12
  • Article   16.8 CERTAIN REGULATED PRODUCTS 12
  • Article   16.9 ENFORCEMENT OF INTELLECTUAL PROPERTY RIGHTS 12
  • Article   16.10 TRANSITIONAL PROVISIONS 13
  • Chapter   17 LABOR 13
  • Article   17.1 STATEMENT OF SHARED COMMITMENT 13
  • Article   17.2 APPLICATION AND ENFORCEMENT OF LABOR LAWS 13
  • Article   17.3 PROCEDURAL GUARANTEES AND PUBLIC AWARENESS 13
  • Article   17.4 INSTITUTIONAL ARRANGEMENTS 13
  • Article   17.5 LABOR COOPERATION 13
  • Article   17.6 LABOR CONSULTATIONS 13
  • Article   17.7 DEFINITIONS 13
  • Annex 17A  UNITED STATES - SINGAPORE LABOR COOPERATION MECHANISM 13
  • Chapter   18 ENVIRONMENT 13
  • Article   18.1 LEVELS OF PROTECTION 13
  • Article   18.2 APPLICATION AND ENFORCEMENT OF ENVIRONMENTAL LAWS 13
  • Article   18.3 PROCEDURAL MATTERS 13
  • Article   18.4 INSTITUTIONAL ARRANGEMENTS 13
  • Article   18.5 OPPORTUNITIES FOR PUBLIC PARTICIPATION 13
  • Article   18.6 ENVIRONMENTAL COOPERATION 14
  • Article   18.7 ENVIRONMENTAL CONSULTATIONS 14
  • Article   18.8 RELATIONSHIP TO ENVIRONMENTAL AGREEMENTS 14
  • Article   18.9 PRINCIPLES OF CORPORATE STEWARDSHIP 14
  • Article   18.10 DEFINITIONS 14
  • Chapter   19 TRANSPARENCY 14
  • Article   19.1 DEFINITIONS 14
  • Article   19.2 CONTACT POINTS 14
  • Article   19.3 PUBLICATION 14
  • Article   19.4 NOTIFICATION AND PROVISION OF INFORMATION 14
  • Article   19.5 ADMINISTRATIVE PROCEEDINGS 14
  • Article   19.6 REVIEW AND APPEAL 14
  • Chapter   20 ADMINISTRATION AND DISPUTE SETTLEMENT 14
  • Article   20.1 JOINT COMMITTEE 14
  • Article   20.2 ADMINISTRATION OF DISPUTE SETTLEMENT PROCEEDINGS 14
  • Article   20.3 CONSULTATIONS 14
  • Article   20.4 ADDITIONAL DISPUTE SETTLEMENT PROCEDURES 14
  • Article   20.5 IMPLEMENTATION OF THE FINAL REPORT 14
  • Article   20.6 NON-IMPLEMENTATION 14
  • Article   20.7 NON-IMPLEMENTATION IN CERTAIN DISPUTES 15
  • Article   20.8 COMPLIANCE REVIEW 15
  • Article   20.9 FIVE-YEAR REVIEW 15
  • Article   20.10 PRIVATE RIGHTS 15
  • Annex 20A  INFLATION ADJUSTMENT FORMULA FOR MONETARY ASSESSMENTS 15
  • Chapter   21 GENERAL AND FINAL PROVISIONS 15
  • Article   21.1 GENERAL EXCEPTIONS 15
  • Article   21.2 ESSENTIAL SECURITY 15
  • Article   21.3 TAXATION 15
  • Article   21.4 DISCLOSURE OF INFORMATION 15
  • Article   21.5 ANTI-CORRUPTION 15
  • Article   21.6 ACCESSION 15
  • Article   21.7 ANNEXES 15
  • Article   21.8 AMENDMENTS 15
  • Article   21.9 ENTRY INTO FORCE AND TERMINATION 15