TPP.JUL13
US Senate to approve TPP before 1 July 2013
Long Description: This contract pays $1 if the United States Senate approves a resolution of ratification of the Trans Pacific Partnership, which must include tariff reduction and near-comprehensive service coverage (see below), before 1 July 2013. Otherwise this contract pays $0.
Judging Criteria:
The contract pays out $1 if at least two thirds of the United States Senators present vote to approve a resolution of ratification of the Trans Pacific Partnership (TPP) before 1 July 2013, as described at [www.senate.gov] under Article 2 Section 2 of the Constitution of the United States of America (http://www.senate.gov/civics/constitution_item/constitution.htm#a2_sec2 )
The contract is not affected by whether or when instruments of ratification are formally exchanged between the United States and the other country(s) involved in the TPP.
The TPP for which Senators approve a resolution of ratification must include the Unites States and New Zealand, and at least five of Australia, Brunei Darussalam, Chile, Peru, Singapore, and Viet Nam. The contract is unaffected if other countries are part of the agreement.
The TPP for which Senators approve a resolution of ratification must:
1. For goods, include an agreed and legally binding schedule of tariff reductions covering all goods traded between the parties for which tariffs still apply at the launch of the contract (approximately 11,000 tariff lines) AND
2. For services, operate on a “negative list” basis, where all service sectors are covered to ensure comprehensive coverage but where allows countries may have or be able to negotiate specific exceptions to commitments in specific service sectors.
Information on the TPP can be found at [mfat.govt.nz] and [www.ustr.gov]
Information on the TPP can be found at [mfat.govt.nz] and [www.ustr.gov]
iPredict reserves the right to delay closing in order to seek advice on whether the terms of this contract are met. By trading this stock traders agree iPredict’s decision is final.
Dates and times US Eastern Standard Time.