(a) The natural persons must be engaged in the supply of a service on a temporary basis as employees of a juridical person, which has obtained a service contract for a period not exceeding 12 months;
(b) The natural persons entering the other Party must be offering such services as an employee of the juridical person supplying the services for at least the year immediately preceding the date of submission of an application for entry into the other Party. In addition, the natural persons must possess, at the date of submission of an application for entry into the other Party, at least three years professional experience (1) in the sector of activity which is the subject of the contract;
(c) With the exception of fashion model services, chef de cuisine services, and entertainment services other than audiovisual services, the natural persons entering the other Party must possess (i) a university degree or a qualification demonstrating knowledge of an equivalent level (2) and (ii) professional qualifications where this is required to exercise an activity pursuant to the law, regulations or requirements of the United Kingdom or of the Signatory CARIFORUM State applicable where the service is supplied;
(d) The natural person shall not receive remuneration for the provision of services other than the remuneration paid by the contractual service supplier during its stay in the other Party;
(e) The temporary entry and stay of natural persons within the Party concerned shall be for a cumulative period of not more than six months in any 12-month period or for the duration of the contract, whichever is less;
(f) Access accorded under the provisions of this Article relates only to the service activity which is the subject of the contract and does not confer entitlement to exercise the professional title of the Party where the service is provided;
(g) The number of persons covered by the service contract shall not be larger than necessary to fulfill the contract, as it may be decided by the laws, regulations and requirements of the Party where the service is supplied;
(h) Other discriminatory limitations, including on the number of natural persons in the form of economic needs tests, which are specified in Annex IV.
3. Without prejudice to paragraph 1 the United Kingdom shall allow the supply of services into its territory by independent professionals of the Signatory CARIFORUM States, subject to the conditions specified below and in Annex IV, in the following sub-sectors:
1. Legal advisory services in respect of international public law and foreign law (i.e. non-United Kingdom law);
2. Architectural services;
3. Urban planning and landscape architecture services;
4. Engineering services;
5. Integrated engineering services;
6. Computer and related services;
7. Research and development services;
8. Market research and opinion polling;
9. Management consulting services;
10. Services related to management consulting;
11. Translation and interpretation services
Without prejudice to paragraph 1, the Signatory CARIFORUM States shall allow the supply of services into their territory by United Kingdom independent professionals, subject to the conditions specified below and in Annex IV. The commitments undertaken by the United Kingdom and by the Signatory CARIFORUM States are subject to the following conditions:
(a) The natural persons must be engaged in the supply of a service on a temporary basis as self-employed persons established in the other Party and must have obtained a service contract for a period not exceeding 12 months;
(b) The natural persons entering the other Party must possess, at the date of submission of an application for entry into the other Party, at least six years professional experience in the sector of activity which is the subject of the contract;
(c) The natural persons entering the other Party must possess (i) a university degree or a qualification demonstrating knowledge of an equivalent level (3) and (ii) professional qualifications where this is required to exercise an activity pursuant to the law, regulations or requirements of the United Kingdom or of the Signatory CARIFORUM State applicable where the service is supplied;
(d) The temporary entry and stay of natural persons within the Party concerned shall be for a cumulative period of not more than six months in any 12-month period or for the duration of the contract, whichever is less;
(e) Access accorded under the provisions of this Article relates only to the service activity which is the subject of the contract and does not confer entitlement to exercise the professional title of the Party where the service is provided;
(f) Other discriminatory limitations, including on the number of natural persons in the form of economic needs tests, which are specified in Annex IV.
(1) Obtained after having reached the age of majority.
(2) Where the degree or qualification has not been obtained in the Party where the service is supplied, that Party may evaluate whether this is equivalent to a university degree required in its territory.
(3) Where the degree or qualification has not been obtained in the Party where the service is supplied, that Party may evaluate whether this is equivalent to a university degree required in its territory.
Article 84. Short Term Visitors for Business Purposes
1. The United Kingdom and the Signatory CARIFORUM States shall endeavour to facilitate, in conformity with their respective legislation, the entry and temporary stay in their territories of short-term visitors for business purposes from the United Kingdom or the Signatory CARIFORUM States as the case may be with a view to carrying out the following activities:
(a) Research and design: technical, scientific and statistical researchers on behalf of a company established in the territory of the other Party;
(b) Marketing research: personnel conducting research or analysis, including market research, on behalf of a company established in the territory of the other Party;
(c) Training seminars: personnel of a company in the United Kingdom or in the Signatory CARIFORUM States who enter the territory of the other Party to receive training in techniques and work practices employed by companies or organisations in that Party, provided that the training received is confined to observation, familiarisation and classroom instruction only;
(d) Trade fairs and exhibitions: personnel attending a trade fair for the purpose of promoting their company or its products or services;
(e) Sales: sales representatives and agents taking orders or negotiating contracts for goods for a company located in the territory of the other Party, but not delivering goods;
(f) Purchasing: buyers purchasing for a company or management and supervisory personnel engaging in a commercial transaction carried out in the territory of the other Party;
(g) Tourism personnel (hotel representatives, tour and travel agents, tour guides or tour operators) attending or participating in tourism conventions or tourism exhibitions, provided that they are not engaged in selling their goods or services to the general public or in supplying their goods or services themselves, do not on their own behalf receive any remuneration from a source located within the United Kingdom or the Signatory CARIFORUM State where they are staying temporarily, and are not engaged in the supply of a service in the framework of a contract concluded between a juridical person who has no commercial presence in the United Kingdom or in the Signatory CARIFORUM State where the short-term visitors for business purposes are staying temporarily and a consumer in the United Kingdom or Signatory CARIFORUM State.
2. This entry and temporary stay into their territories, when allowed, shall be for a period of up to 90 days in any 12- month period.
Chapter 5. Regulatory Framework
Section 5. Financial Services
Article 103. Scope and Definitions
1. This Section sets out the principles of the regulatory framework for all financial services liberalised pursuant to Chapters 2, 3 and 4 of this Title.
2. For the purpose of this Chapter and of Chapters 2, 3 and 4 of this Title:
(a) ‘financial service' means any service of a financial nature offered by a financial service supplier of the United Kingdom and of the Signatory CARIFORUM States. Financial services comprise the following activities:
A. Insurance and insurance-related services
1. Direct insurance (including co-insurance):
(i) Life;
(ii) Non-life;
2. Reinsurance and retrocession;
3. Insurance inter-mediation, such as brokerage and agency; and
4. Services auxiliary to insurance, such as consultancy, actuarial, risk assessment and claim settlement services.
B. Banking and other financial services (excluding insurance):
1. Acceptance of deposits and other repayable funds from the public;
2. Lending of all types, including consumer credit, mortgage credit, factoring and financing of commercial transaction;
3. Financial leasing;
4. All payment and money transmission services, including credit, charge and debit cards, travellers cheques and bankers drafts;
5. Guarantees and commitments;
6. 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 cheques, 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;
7. Participation in issues of all kinds of securities, including underwriting and placement as agent (whether publicly or privately) and provision of services related to such issues;
8. Money broking;
9. Asset management, such as cash or portfolio management, all forms of collective investment management, pension fund management, custodial, depository and trust services;
10. Settlement and clearing services for financial assets, including securities, derivative products, and other negotiable instruments;
11. Provision and transfer of financial information, and financial data processing and related software;
12. Advisory, intermediation and other auxiliary financial services on all the activities listed in subparagraphs (1) through (11), including credit reference and analysis, investment and portfolio research and advice, advice on acquisitions and on corporate restructuring and strategy;
(b) ‘financial service supplier' means any natural or juridical person of the United Kingdom or of the Signatory CARIFORUM States which seeks to provide or provides financial services. The term ‘financial service supplier' does not include a public entity;
(c) ‘public entity' means:
1. A government, a central bank or a monetary authority, of the United Kingdom or of a Signatory CARIFORUM State, or an entity owned or controlled by the United Kingdom or by a Signatory CARIFORUM State, 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; or
2. A private entity, performing functions normally performed by a central bank or monetary authority, when exercising those functions;
(d) ‘new financial service' means a service of a financial nature, including services related to existing and new products or the manner in which a product is delivered, that is not supplied by any financial service supplier in the territory of the United Kingdom or of the Signatory CARIFORUM States but which is supplied in the territory of the other Party.
Article 104. Prudential Carve-out
1. The United Kingdom and the Signatory CARIFORUM States may adopt or maintain measures for prudential reasons, such as:
(a) The protection of investors, depositors, policy-holders or persons to whom a fiduciary duty is owed by a financial service supplier;
(b) Ensuring the integrity and stability of their financial system.
2. Nothing in this Agreement shall be construed to require the United Kingdom or the Signatory CARIFORUM States to disclose information relating to the affairs and accounts of individual customers or any confidential or proprietary information in the possession of public entities.
Article 105. Effective and Transparent Regulation
1. The Parties and the Signatory CARIFORUM States shall endeavour to provide in advance to all interested persons any measure of general application that the United Kingdom or the Signatory CARIFORUM States propose to adopt in order to allow an opportunity for such persons to comment on the measure. Such measure shall be provided:
(a) By means of an official publication; or
(b) In other written or electronic form.
2. The United Kingdom and the Signatory CARIFORUM States shall make available to interested persons their requirements for completing applications relating to the supply of financial services.
On the request of an applicant, the concerned United Kingdom or Signatory CARIFORUM State shall inform the applicant of the status of its application. If the concerned United Kingdom or Signatory CARIFORUM State requires additional information from the applicant, it shall notify the applicant without undue delay.
The United Kingdom and the Signatory CARIFORUM States shall endeavour to facilitate the implementation and application in their territory of internationally agreed standards for regulation and supervision in the financial services sector.
Article 106. New Financial Services (1)
The United Kingdom and the Signatory CARIFORUM States shall permit a financial service supplier of the other Party to provide any new financial service of a type similar to those services that the United Kingdom and the Signatory CARIFORUM States permit their own financial service suppliers to provide under their domestic law in like circumstances. The United Kingdom and the Signatory CARIFORUM States may determine the juridical form through which the service may be provided and may require authorisation for the provision of the service. Where such authorisation is required, a decision shall be made within a reasonable time and the authorisation may only be refused for prudential reasons.
(1) This Article applies only to financial services activities covered by Article 103 and liberalised according to this Title.
Article 107. Data Processing
1. The United Kingdom and the Signatory CARIFORUM States shall permit a financial service supplier of the other Party to transfer information in electronic or other form, into and out of their territory, for data processing where such processing is required in the ordinary course of business of such financial service supplier.
2. The United Kingdom and the Signatory CARIFORUM States shall adopt adequate safeguards to the protection of privacy and fundamental rights, and freedom of individuals, in particular with regard to the transfer of personal data.
Article 108. Specific Exceptions
1. Nothing in this Title shall be construed to prevent the United Kingdom and the Signatory CARIFORUM States, including their public entities, from exclusively conducting or providing in their territory activities or services forming part of a public retirement plan or statutory system of social security, except when those activities may be carried out, as provided by the domestic regulation of the United Kingdom or the Signatory CARIFORUM State concerned, by financial service suppliers in competition with public entities or private institutions.
2. Nothing in this Agreement applies to activities conducted by a central bank or monetary authority or by any other public entity in pursuit of monetary or exchange rate policies.
3. Nothing in this Title shall be construed to prevent the United Kingdom and the Signatory CARIFORUM States, including their public entities, from exclusively conducting or providing in their territory activities or services for the account or with the guarantee or using the financial resources of the United Kingdom or the Signatory CARIFORUM State, or their public entities.
Chapter 7. Cooperation
Article 121. Cooperation
1. The Parties recognise the importance of technical cooperation and assistance in order to complement the liberalisation of services and investment, support the Signatory CARIFORUM States' efforts to strengthen their capacity in the supply of services, facilitate the implementation of commitments under this Title, and achieve the objectives of this Agreement.
2. Subject to the provisions of Article 7, the Parties agree to cooperate, including by providing support for technical assistance, training and capacity building in, inter alia, the following areas:
(a) Improving the ability of service suppliers of the Signatory CARIFORUM States to gather information on and to meet regulations and standards of the United Kingdom national and sub-national levels;
(b) Improving the export capacity of service suppliers of the Signatory CARIFORUM States, with particular attention to the marketing of tourism and cultural services, the needs of small and medium-sized enterprises, franchising and the negotiation of mutual recognition agreements;
(c) Facilitating interaction and dialogue between service suppliers of the United Kingdom and of the Signatory CARIFORUM States;
(d) Addressing quality and standards needs in those sectors where the Signatory CARIFORUM States have undertaken commitments under this Agreement and with respect to their domestic and regional markets as well as trade between the Parties, and in order to ensure participation in the development and adoption of sustainable tourism standards;
(e) Developing and implementing regulatory regimes for specific service sectors at CARIFORUM regional level and in Signatory CARIFORUM States in those sectors where they have undertaken commitments under this Agreement; and
(f) Establishing mechanisms for promoting investment and joint ventures between service suppliers of the United Kingdom and of the Signatory CARIFORUM States, and enhancing the capacities of investment promotion agencies in Signatory CARIFORUM States.
Article Title III. Current Payments and Capital Movement
Article 122. Current Payments
Subject to the provisions of Article 124, the Signatory CARIFORUM States and the United Kingdom undertake to impose no restrictions on and to allow all payments for current transactions between residents of the United Kingdom and of the CARIFORUM States to be made in freely convertible currency.
Article 123. Capital Movements
1. With regard to transactions on the capital account of balance of payments, the Signatory CARIFORUM States and the United Kingdom undertake to impose no restrictions on the free movement of capital relating to direct investments made in accordance with the laws of the host country and investments established in accordance with the provisions of Title II, and the liquidation and repatriation of these capitals and of any profit stemming therefrom.
2. The Parties shall consult each other with a view to facilitating the movement of capital between them in order to promote the objectives of this Agreement.
Article 124. Safeguard Measures
1. Where, in exceptional circumstances, payments and capital movements between the Parties cause or threaten to cause serious difficulties for the operation of monetary policy or exchange rate policy in one or more CARIFORUM States or the United Kingdom, safeguard measures with regard to capital movements that are strictly necessary may be taken by the United Kingdom or the concerned Signatory CARIFORUM State or States for a period not exceeding six months.
2. The Joint CARIFORUM-UK Council shall be informed forthwith of the adoption of any safeguard measure and, as soon as possible, of a time schedule for its removal.
Article Title IV. Trade-related Issues
Chapter 2. Innovation and Intellectual Property
Section 1. Innovation
Article 133. Regional Integration
The Parties recognise that measures and policies to be taken at the regional level are necessary to fully attain the objectives of this Section. The CARIFORUM States agree to increase action at the regional level with a view to providing enterprises with a regulatory and policy framework conducive to fostering competitiveness through innovation and creativity.
Article 134. Participation In Programmes
1. The participation of the Parties and the Signatory CARIFORUM States shall be facilitated and promoted in existing and future programmes and other activities of the other Party, in so far as it is permitted by each Party's internal rules governing access to the programmes and activities concerned.
2. The CARIFORUM-UK Trade and Development Committee may make recommendations in order to facilitate the participation of CARIFORUM institutions and enterprises in the programmes referred to in paragraph 1 and shall periodically review such participation.
Article 135. Cooperation In the Area of Competitiveness and Innovation
1. The Parties recognise that the promotion of creativity and innovation is essential for the development of entrepreneurship and competitiveness and the achievement of the overall objectives of this Agreement.
2. Subject to the provisions of Articles 7 and 134, the Parties agree to cooperate, including by facilitating support, in the following areas:
(a) Promotion of innovation, diversification, modernisation, development and product and process quality in businesses;
(b) Promotion of creativity and design, particularly in micro, small and medium enterprises, and exchanges between networks of design centres located in the United Kingdom and the CARIFORUM States;
(c) Promotion of dialogue and exchanges of experience and information between networks of economic operators;technical assistance, conferences, seminars, exchange visits, prospecting for industrial and technical opportunities, participation in roundtables and general and sectoral trade fairs;
(d) Promotion of contacts and industrial cooperation between economic operators, encouraging joint investment and ventures and networks through existing and future programs;
(e) Promotion of partnerships for research and development activities in the CARIFORUM States in order to improve their innovation systems; and
(f) Intensification of activities to promote linkages, innovation and technology transfer between CARIFORUM and the United Kingdom partners.
Chapter 4. Environment
Article 183. Objectives and Sustainable Development Context
1. The Parties reaffirm that the principles of sustainable management of natural resources and the environment are to be applied and integrated at every level of their partnership, as part of their overriding commitment to sustainable development as set out in Articles 1, 2 and 3 of this Agreement.
2. The Parties recall the importance of environment and natura lresources as thematic and cross-cutting issues, and that thefundamental principles of ownership, participation, dialogue and differentiation are therefore particularly relevant.
3. The Parties and the Signatory CARIFORUM States are resolved to conserve, protect and improve the environment, including through multilateral and regional environmental agreements to which they are parties.
4. The Parties reaffirm their commitment to promoting thedevelopment of international trade in such a way as to ensure sustainable and sound management of the environment, in accordance with their undertakings in this area including the international conventions to which they are party and with due regard to their respective level of development.
5. The Parties and the Signatory CARIFORUM States are resolved to make efforts to facilitate trade in goods and services which the Parties consider to be beneficial to the environment. Such products may include environmental technologies, renewable- and energy-efficient goods and services and eco-labelled goods.
Article 184. Levels of Protection and Right to Regulate
1. Recognising the right of the Parties and the Signatory CARIFORUM States to regulate in order to achieve their own level of domestic environmental and public health protectionand their own sustainable development priorities, and to adoptor modify accordingly their environmental laws and policies, each Party and Signatory CARIFORUM State shall seek to ensurethat its own environmental and public health laws and policiesprovide for and encourage high levels of environmental and public health protection and shall strive to continue to improvethose laws and policies.
2. The Parties agree that the special needs and requirements of CARIFORUM States shall be taken into account in the design and implementation of measures aimed at protecting environmentand public health that affect trade between the Parties.
3. Provided that such measures are not applied in a manner that would constitute a means of arbitrary or unjustifiable discrimination between the Parties or a disguised restriction on trade between them, nothing in this Agreement shall be construed to prevent any Party and the Signatory CARIFORUM States from adopting or maintaining measures necessary to protect human, animal or plant life or health, related to the conservation of natural resources or protection of the environment.
Article 185. Regional Integration and Use of International Environmental Standards
In the light of the environmental challenges facing their respective regions, and in order to promote the development of international trade in such a way as to ensure sustainable and sound management of the environment, the Parties recognise the importance of establishing effective strategies and measures at the regional level. The Parties agree that in the absence of relevant environmental standards in national or regional legislation, they shall seek to adopt and implement the relevant international standards, guidelines or recommendations, where practical and appropriate.
Article 186. Scientific Information
The Parties recognise the importance, when preparing and implementing measures aimed at protecting the environment and public health that affect trade between the Parties, of taking account of scientific and technical information, the precautionary principle, and relevant international standards, guidelines or recommendations.