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Agreement on Preshipment Inspection

from Volume 1

Published online by Cambridge University Press:  04 August 2017

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Summary

GENERAL

Preshipment inspection (PSI) companies have long served private-sector buyers and sellers to ensure that the quantity and quality of goods to be traded conform to sales contract specifications. Government-contracted, comprehensive PSI service arose first in the 1960s. Government contracts with PSI companies have consisted of foreign exchange contracts (where the government’s objective is to prevent capital flight through over-invoicing) and/or customs contracts (where the objective is to prevent loss of customs revenue as a result of undervaluation or misclassification of the goods). PSI companies may also verify product origin, compile statistics, and provide technical assistance.

The PSI Agreement, negotiated in the Uruguay Round, applies to all government-mandated PSI activities carried out on the territory of Members (in the country of export, prior to exportation). Article 2 of the Agreement regulates user Members (those who contract for PSI services) and Article 3 applies to exporter Members. Article 4 provides for an independent entity to settle disputes between exporters and PSI companies. This entity was duly established in 1996, and has settled two such disputes.

Type
Chapter
Information
WTO Analytical Index
Guide to WTO Law and Practice
, pp. 977 - 986
Publisher: Cambridge University Press
Print publication year: 2012

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