Contractual duty-sharing clause covers export duty changes on auction date when that date is expressly included in the adjustment period.

An auction clause that expressly includes the date of auction within a 45-day adjustment period captures any increase or reduction in export duty occurring on that date. The contractual scheme required duty fluctuations within that period to be shared between the Board and the exporter, and the reserve price was set by reference to the duty prevailing up to the day before auction. A reduction in export duty on the auction date therefore fell within the sharing mechanism, and the argument that it operated only from midnight was rejected because it would defeat the clause's express inclusive wording. The exporters were not entitled to a refund of the amount paid.

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Issues: Whether Clause 10 of the auction conditions required the increase or reduction in export duty on the date of auction to be shared between the Board and the exporter when the 45-day period expressly included the date of auction.

Analysis: The clause provided for sharing any increase or reduction in taxes, duties, and imposts occurring within 45 days from the auction date, and it specifically stated that the day of auction was included in that period. The reserve price was fixed on the basis of the duty prevalent up to the day before the auction, and the contractual scheme was designed to adjust for fluctuations in duty during the specified period. Since the export duty was reduced on the date of auction itself, that date fell within the contractual 45-day period. The contention that the reduction should be treated as operative only from the midnight preceding the date was rejected because it would defeat the express inclusive wording of the clause.

Conclusion: The reduction in export duty on the date of auction was within the contractual period and was shareable under Clause 10, so the exporters were not entitled to refund of the amount paid.

Ratio Decidendi: Where a contract expressly includes the date of auction in the relevant period, any change in duty on that date falls within the period and must be given effect according to the contractual sharing mechanism.

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