Annexes to COM(2004)159 - Consultation and information procedures in matters of credit insurance, credit guarantees and financial credits (Codified version)

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dossier COM(2004)159 - Consultation and information procedures in matters of credit insurance, credit guarantees and financial credits (Codified ...
document COM(2004)159 EN
date November 13, 2006
Annex III.

(5) OJ 66, 27.10.1960, p. 1339.


ANNEX I

COMMUNITY NORMS WHICH CANNOT BE DEPARTED FROM WITHOUT CONSULTATION

A. Duration of credits

The duration of any credit granted, whether supplier credit or financial credit, must not exceed five years calculated from the following starting points:

1.Capital goods consisting of individual items usable in themselves (for example, locomotives):

—the mean date, or actual dates, on which the buyer is to take physical possession of the goods in his own country.

2.Capital goods for complete plants or factories where the supplier has no responsibility for commissioning:

—the date on which the buyer is to take physical possession of the entire goods (excluding spare parts) supplied under the contract.

3.Construction contracts where the contractor has no responsibility for commissioning:

—the date on which construction has been completed.

4.Installation (or construction) contracts where the supplier (or contractor) has a contractual responsibility for commissioning:

—the date on which the supplier (or contractor) has completed installation (or construction) and preliminary tests to ensure that it is ready for operation, whether or not the installation (or construction) is handed over to the buyer at that time in accordance with the terms of the contract and irrespective of any continuing commitment which the supplier (or contractor) may have entered into, for example to guarantee its effective functioning or to train local personnel.

5.In the case of points 2, 3 and 4, where the contract involves the separate execution of individual parts of a project:

—the date of the starting-point for each separate part, or the mean date of those starting-points or, where the supplier has entered into a contract not for the whole project but for an essential part of it, the starting-point appropriate to the project as a whole.

B. Percentage of local expenditure

In the case of guaranteed private credits, the balance of the local portion payable on credit must not exceed 5 % of the contract price.

However, consultation shall not be instituted in the case of contracts which provide for payment of the local portion to be made, at the latest, upon the expiry of a period of three months calculated from the final completion of the works or deliveries.

For the proper interpretation of this rule:

(a)‘balance payable on credit’ shall mean the balance outstanding after charging against the local portion all payments made on account in connection with the contract;

(b)‘local portion’ shall mean that portion of the contract price representing the expenditure the exporter expects to incur on the spot in the way of payments to employees and others and payments for goods and materials;

(c)‘contract’ shall mean any type of contract for the supply of goods and materials; for the carrying out of work; mixed (i.e. supply and works) contracts;

(d)‘payments on account’ shall mean all the sums payable between the placing of the order and final completion of the works or deliveries.

C. Leasing contracts

For the purposes of application of the rules, which are the subject of the present Decision, leasing contracts shall be treated as credits. Where their total duration is not expressly restricted, such duration shall be regarded as being in excess of five years.


ANNEX II

SCALE OF VALUES TO BE USED

Category I:up to 750 000 special drawing rights.
Category II:from 600 000 to 1 200 000 special drawing rights.
Category III:from 1 000 000 to 2 200 000 special drawing rights.
Category IV:from 2 000 000 to 3 200 000 special drawing rights.
Category V:from 3 000 000 to 5 000 000 special drawing rights.
Category VI:from 4 800 000 to 7 600 000 special drawing rights.
Category VII:from 7 400 000 to 11 200 000 special drawing rights.
Category VIII:from 10 000 000 to 22 000 000 special drawing rights.
Category IX:from 20 000 000 to 44 000 000 special drawing rights.
Category X:over 40 000 000 special drawing rights.


ANNEX III

REPEALED DECISION WITH ITS AMENDMENT

Council Decision 73/391/EEC (1)(OJ L 346, 17.12.1973, p. 1)
Council Decision 76/641/EEC(OJ L 223, 16.8.1976, p. 25)


(1) Decision 73/391/EEC was also amended by the following acts which have not been repealed:

—The 1985 Act of Accession;

—The 1994 Act of Accession.


ANNEX IV

CORRELATION TABLE

Decision 73/391/EECThis Decision
Article 1Article 1
Article 2Article 21
Annex, Article 1, introductory wordingArticle 2(1), introductory wording
Annex, Article 1, first and second indentsArticle 2(1)(a) and (b)
Annex, Article 2, first paragraph, introductory wordingArticle 2(2), introductory wording
Annex, Article 2, first paragraph, first to third indentsArticle 2(2)(a) to (c)
Annex, Article 2, second paragraphArticle 2(3)
Annex, Article 3Article 3
Annex, Article 4(a) and (b)Article 4(a) and (b)
Annex, Article 4(c), first to fourth indentsArticle 4(c)(i) to (iv)
Annex, Article 4(d)Article 4(d)
Annex, Article 4(e), first to seventh indentsArticle 4(e)(i) to (vii)
Annex, Article 4(f)Article 4(f)(i) to (iii)
Annex, Article 5(a) and (b)Article 5(a) and (b)
Annex, Article 5(c), first to third indentsArticle 5(c)(i) to (iii)
Annex, Article 5(d)Article 5(d)
Annex, Article 5(e)Article 5(e)(i) and (ii)
Annex, Article 6, introductory wordingArticle 6, introductory wording
Annex, Article 6, first to third indentsArticle 6(a) to (c)
Annex, Articles 7 to 9Articles 7 to 9
Annex, Article 10(1), introductory wordingArticle 10(1), introductory wording
Annex, Article 10(1), first to fourth indentsArticle 10(1)(a) to (d)
Annex, Article 10(2) and (3)Article 10(2) and (3)
Annex, Articles 11 and 12Articles 11 and 12
Annex, Article 13, first paragraphArticle 13, first paragraph
Annex, Article 13, second paragraph, introductory wordingArticle 13, second paragraph, introductory wording
Annex, Article 13, second paragraph, first and second indentsArticle 13, second paragraph, points (a) and (b)
Annex, Articles 14 to 16Articles 14 to 16
Annex, Article 17, introductory wordingArticle 17, introductory wording
Annex, Article 17, first and second indentsArticle 17(a) and (b)
Annex, Article 18, introductory wordingArticle 18, introductory wording
Annex, Article 18, first and second indentsArticle 18(a) and (b)
Annex, Article 19Article 19
—Article 20
Annex 1, point AAnnex I, point A
Annex 1, point B, introductory wordingAnnex I, point B, first paragraph
Annex 1, point B, first indentAnnex I, point B, second paragraph
Annex 1, point B, subindents 1 to 4 of the second indentAnnex I, point B, third paragraph, (a) to (d)
Annex 1, point CAnnex I, point C
Annex 2Annex II
—Annex III
—Annex IV