CELEX: 51976PC0250
Language: en
Date: 1976-06-03
Title: Proposal for a COUNCIL DECISION amending the Decision of 3 December 1973, on consultation and information procedures in matters of credit insurance, credit guarantees and financial credits (submitted to the Council by the Commission)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (76) 250
Vol. 1976/0081
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 ---pagebreak---           COMMISSION OF THE EUROPEAN COMMUNITIES
                                                      COM(76 ) 250 final .
                                                      Brussels . 3 June 1976
                                   Proposal for a
                                  COUNCIL DECISION
                 amending the Decision of 3 December 1973 , on? cons
                                    .         /
                 ultation and information procedures in matters of
                 credit insurance , credit guarantees and financial
                                    credits
                                         /
                 ( submitted to the Council by the Commission )
                                            /
                                                           /
           I
COM ( 76 ) 250 final .
 ---pagebreak---   t
      i
      i
 Explanatory memorandum
Annex I - A                                                                     «
Whereas the starting-points had boen initially defined by tho Bern'3 Union
in connection with its own notification system for credits with a duration
exceeding five years , the revised definition is intended for more general
use and takes into account the special problem of largo projects ( concept
of "commissioning" or " installation of the plant ", extension of construc­
tion periods , contracts involving " instalments" for delivery and
installation , etc .).            ...                                i
 In order to avoid disparities in the information and consultation systems in
use , "both "by credit insurance organisations , as well as within the European
Economic Community ,       \ and since tho initial definition had been used in
Annex I. A. of the Council Decision on consultation procedures ( N° 73/39l/EEC),
'this Annex should be amended in line with the revised definitions .
    .      >
Annex II
 The amendment decided on under the prior consultation procedure of the
 OECT) and concerning the scale of value categories adopted in December 1973 ,
must also be incorporated in the consultation procedures of the European
 Communities , and this for two reasons :
                                . . 1
 - firstly , this amendment makes for somewhat stricter conditions and was
        adopted by the OECD Group after a number of amendments put forward by
        the Nine had boon accepted ;
 -» socondly , a certain degree of conformity betwoen the two systems must
        be maintained .
 ---pagebreak--- Since the rovised definition of starting-points is alroady applicable
and since the docision of the OECD Group on Export Credits and Credit
Guarantees concerning the new scale of value categories has "been adopted
with effect from 1 December 1975 » "the Commission ' proposes to the
Council that it should adopt the Decision the draft of which is      *
annexed hereto . ,
 ---pagebreak---                              Council Docision
     amending the Decision of 3 December 1973
on consultation and information procedures in matters oi credit insurance ,
credit guarantees and financial credits
THE COUNCIL OF THE EUROPEAN COMTONITIES ,
Having regard to the Treaty establishing the European Economic Community ,
and in particular Artiolo 113 thereof ,
Having regard to the proposal from the Commission ,
Whereas , *>y its Decision 73/39l /EEC of 3 December 1973 , the Council set up
consultation procedures in matters bf crodit insurance , credit guarantees
and financial credits ( l );
Whereas the provisions of thy said Decision have applied Binoe
1 January 1974 ;
Whereas these consultation procedures should "be amended in the light of the
experience acquired in applying it ;
HAS DECIDED AS FOLLOWS :
( l ) OJ N° L 346 , 17 December 1973, p. 1
 ---pagebreak---                                     Articlo 1
 Section A of Annex I to the Annex to Council Decision of 3 December 1973
 on consultation and information procedures in
matters of credit insurance , crfcdit guarantees and financial credits is hereby
    amended as follows :
                                     ANNÏ3X I
Community norms which cannot bo departed from without consultation
A. Duration of credits           ,      '
The duration of any credit granted , whether supplier crodit or financial
credit , must not exceed five years calculated from tho following starting-
points *
    1 . Capital goods consisting of individual items usable in themselves :
( for example , locomotives ): the( mean date , or actual dates , on which tho
buyer is to tike physical possession of the food. s in his own country :
                  .1                          *
    2 . Capital goods for complete plant or factories whore the supplier has
no responsibility for commissioning :
the date on which tho buyer is to taho physical possession of tho entiro
goods ( excluding spare parts ) supplied under tho contract ;
    3 . Construction contracts whoro tho contractor has no responsibility
for commissioning : -          •* '                                        • :
        - the dato on which tho construction has boon completed ;
 ---pagebreak--- 4* Installation ( or construction) contracts where the supplier ( or*
contractor) has a contractual responsibility for the commissioning*
- the date on which the supplier ( or contractor) has oompleted 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 hav« entered into, for exampl# to
   guarantee its effective functioning or to train local personnel «
5 . In the case of paragraphs 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 relating to the whole project , but to an essential
   part of it , the starting-point appropriate to the projeot as a whole .
                            Article 2
Annex II to the Annex to the said Deoision is   hereby replaced by the
following :
 ---pagebreak--- SCALE OF VALUES TO BU US5D
                             Article 3
The revised provisions shall    apply        forthwith and roplaco thoso
adopted previously "by the Council .
                             Article 4
This Decit-ion is addressed to tho I'embor States .
Done at Bruseols ,
                                             For the Council
                                              The President