Thank you, Chair.
To start at the end and move to the beginning, to say that the only binding thing is termination is not correct. There are a bunch of steps that were carefully negotiated to make sure the arbitration itself is binding.
The first step is consultations. You initiate a dispute and you have consultations.
If consultations don't settle that dispute, the second step is arbitration. A tribunal will issue a final and binding award. When it issues that award, a party doesn't have the automatic right to terminate. You're given a reasonable period of time in which to cure the breach.
The object here is for a party who's in breach to cure the breach. It's only at the end of that reasonable period of time that if you haven't cured the breach the award of the arbitral tribunal can then be implemented. At that point it is final and binding.
What will happen is that the export measures under the agreement will go up or down. If Canada is in breach, it can increase or decrease the export measure, depending on whether it's under a tax or the export allocation system. However--