(a) A job creation or retention agreement issued by virtue of this chapter shall be deemed to be a contract between the Government and the eligible SMB, its shareholders, members, investors, partners, and/or owners. Such contract shall have force of law between the parties. It shall also be construed liberally, according to the purposes of this chapter, in order to promote the public policy set forth herein. The Executive Director, on behalf and in representation of the Government, shall exercise discretion to include any terms and conditions, grants, and exemptions that are consistent with the purpose of this chapter, which seeks to promote job creation and retention through the socioeconomic development of Puerto Rico, taking into consideration the nature of the petition or action requested, as well as the facts and circumstances that may apply in each particular case.(b) The agreement shall not be awarded if the Executive Director deems that granting the benefits of the agreement would adversely affect market competition. History —July 31, 2014, No. 120, § 4.2.
Puerto Rico Legal Code