natgillin/translations-raw huggingface dataset:
The supplier of goods, in its quality of bearer of the issued bank acceptance, has the possibility to have the bank acceptance discounted by the issuing bank before the due date of the original invoice or wait for the due date and be paid in full, or use the bank acceptance as a means of payment for its liabilities towards other parties.
Pärast finantsasutuste ja eksportivate tootjate vaheliste lepingute tingimuste analüüsimist leiti, et need ei ole piisavad, pidades silmas osalemist ja tingimusteta kohustusi ning finantsriske, mida finantsasutused panga aktseptilepingutes osaledes peavad arvestama.
Pending the agreement between buyer and seller, bank acceptances may be mentioned as a standard means of payment in purchase agreements together with other means such as remittance or money order.
Järelikult tuli eespool esitatud väide tagasi lükata.
One sampled exporting producer provided comments during the course of the investigation and indicated that bank acceptances cannot be considered as loans on the grounds that loans require the act of borrowing, repaying and the payment of interest while bank acceptances involve a promise of repayment.
Mis puudutab konkreetsust, siis leiti, nagu on märgitud põhjenduses 106 ja nagu on ette nähtud kergetööstuse arengukavas, et Hiina valitsus näeb ette „rahanduspoliitika, mis toetab keskmise suurusega ja väikeste ettevõtjate arengut, veelgi uurida keskmise suurusega ja väikeste ettevõtjate finantskanaleid, täiustada keskmise suurusega ja väikeste ettevõtjate laenugarantiisüsteemi“, on pangaaktseptid täiendav eelistoetuse vorm, et soodustada tootmisharusid, näiteks elektrijalgrataste sektorit.
They further claimed that bank acceptances are a payment method not involving any direct transfer of fund.
Peale selle ei võtnud sellises vormis toetus arvesse valimisse kaasatud eksportivate tootjate finantsseisundit, kuna kõik pangad nõudsid kindlasummalist tasu, mis toimikus esitatud teabe alusel on madalam kui kättesaadavad rahvusvahelised võrdlusalused ning isegi väiksem kui halva krediidireitinguga äriühingutelt, näiteks valimisse kaasatud eksportivatelt tootjatelt võetav preemia (vt põhjendus 324).
On the same topic, another exporting producer repeated that there was no transfer of funds and claimed that its accounting records did not report bank acceptances as liabilities to the bank but as liabilities to the suppliers under notes payables.
Pärast järelduste teatavakstegemist kordas mitu huvitatud isikut enne teatavakstegemist esitatud väidet selle kohta, et pangaaktseptide süsteem on üldiselt kättesaadav rahastamisvahend ning ei piirdu elektrijalgrataste tootmisharuga.
The latter exporting producer also submitted that, in its particular case, the money transferred to the supplier had to be deposited before the due date of the bank acceptance and that the bank was withdrawing the money from its account on the due date of the bank acceptance for the onward payment to the suppliers as agreed with the relevant supplier.
Mitu huvitatud isikut väitis ka seda, et komisjon peab konkreetsuse kindlaksmääramisel lähtuma positiivsetest tõenditest.
Additionally, it also indicated that it did not receive any benefit if the bank acceptance was discounted before the maturity date of the bank acceptance and that it has no knowledge whether the bank acceptance was indeed discounted.
Sellega seoses viidatakse põhjendustele 195–202 ja täpsemalt põhjendusele 319, mis annavad positiivse tõendusmaterjali sellise sooduskorra spetsiifilisuse kohta, kusjuures selline finantsinstrument ei ole sellistel tingimustel üldiselt kättesaadav ja on seega konkreetne piiratud arvule tootmisharudele, nagu elektrijalgrataste tootmisharu.
In this regard, it should first be noted that the CRCP recognises bank acceptances as liabilities towards banks at the same level as loans, letters of credit or trade financing.
Need väited tuli seega tagasi lükata.
It should also be noted that the CRCP is fed by the financial institutions which grant various types of loans and that such financial institutions have thus recognised bank acceptances as liabilities to them.
Kasu arvutamine
Furthermore, the bank acceptance agreements collected during the investigation provide that, should the buyer not make the full payment on the expiry date of the bank acceptances, the bank would treat the amount unpaid as an overdue loan to the bank.
Kättesaadava teabe kohaselt ei eksisteeri ELis pangaaktseptide süsteemi sellises vormis, nagu põhjendustes 304–308 on kirjeldatud.
In addition, the Commission considered that the bank acceptances received by the buyer consist a transfer of fund as the bank acceptances are used as a means of payment at the same level as a money order; i.e. once the bank acceptance is handed out to the supplier, the corresponding invoice is considered to be paid by the company.
Samas tuginedes avalikult kättesaadavale teabele, on sellises vormis krediit kättesaadav Kanadas, kus pangaaktsepte kasutavad korporatiivsed laenuandjad, et täita oma lühiajalisi rahastamisnõudeid.
This is also evidenced by the fact that upon remittance of the bank acceptance to the supplier, the buyer will normally, on the one hand, reduce its account payables to the supplier, and on the other hand, increase its notes payables bank liabilities for a corresponding amount.
Pangaaktsepte kasutavad Kanadas tavaliselt äriühingud, millel ei ole kõrgeim krediidireiting.
In this context, it was also considered that the fact that such liabilities are recognised as notes payables to the suppliers and not to the banks in the accounting records of the company is irrelevant.
Pangaaktseptide saamiseks peab laenuvõtjatel olema krediidiliin, mida nad saavad kasutada.
In any case, the audited accounts did not present such liabilities as account payables to the suppliers but rather as notes payables without specifying the identity of the creditor.
Sellise garantii pakkumiseks võtavad pangad tavapäraselt pangaaktsepti tasu, mis on kehtestatud Kanada dollari kehtestatud intressimäära (edaspidi „CDOR“ – Canadian Dollar Offered Rate) ning tempelmaksu tasemel, ulatudes mõnest baaspunktist üle 100 baaspunktini olenevalt laenuvõtjate krediidikõlblikkusest.
As far as the money flows are concerned, the Commission considered that the comments submitted by the exporting producer concerned were contradictory in so far as, the exporting producer claimed that, on the one hand, it had to transfer its money before the due date of the bank acceptance to ensure the payment to the supplier from its account while,on the other hand it had no knowledge whether notes were discounted, and therefore when the payment was actually taking place.
Tavapärastes turutingimustes kehtiksid pangaaktseptide suhtes seega tavaliselt nii-öelda pangaaktsepti tasud ning need oleksid krediidiliini osa, kuna pangaaktsept on aktsepti andnud panga otsene ja tingimusteta kohustis.
Moreoever, no evidence was provided by this party of actual anticipated transfers of funds to the bank.
Hiina valimisse kaasatud eksportivate tootjate puhul oli pangaaktsepti tasu kehtestatud kindlasummalisena 0,05 % pangaaktsepti summast, olenemata iga valimisse kaasatud eksportiva tootja krediidivõimelisusest, ning krediidiliine pakuti nende olemasolul tasuta.
On the basis of the above, these claims had to be rejected.
Pärast järelduste teatavakstegemist väitis üks eksportiv tootja, et komisjon oli võtnud mõningaid kohandusi arvesse kaks korda ning lisanud subsiidiumisumma arvutamisse kandeid, mis ei olnud seotud pangaaktsepti emiteerimisega.
Another exporting producer reiterated that it had not received any benefit from the bank acceptance system because, in its case, no payment was made after the maturity date of the invoices or of the bank acceptance.
Arvutused põhinesid aga äriühingu esitatud teabel, mida komisjon kontrollis, ning väidetavaid vigu ei olnud enam võimalik kontrollida.
On the same topic, several interested parties claimed that bank acceptances should not be regarded as loans on the grounds that they do not grant longer payment terms to its beneficiaries and claimed that the manner in which domestic law characterizes a certain instruments is not dispositive of its characterization under WTO law.
Seepärast lükati see väide tagasi.
In this regard, while the investigation confirmed that in case of this exporting producer all payments were made within the due dates of the invoices or bank acceptances, it is recalled that the bank acceptance system provided all exporting producers a service - at a preferential rate which conferred a countervailable benefit as described in the recitals (323) to (342) below - whereby the liabilities to the suppliers were considered to be paid and transferred to liabilities to the banks which promised to pay the suppliers by the maturity of the bank acceptances.
Mitu huvitatud isikut väitsid, et pangaaktsepti ei tuleks käsitada laenuna, sest see ei anna selle saajatele pikemaid maksetähtaegu, ning et viis, kuidas WTO liikme siseriiklik õigus iseloomustab teatavaid instrumente, ei ole vastuolus sellega, kuidas seda kajastatakse WTO õiguses.
As far as the payment terms are concerned, the evidence available to the Commission shows that, for several exporting producers, the use of bank acceptances indeed effectively extended the payment term of the related invoices and that no interests were accounted for such de facto loans.
Mitu huvitatud isikut väitis, et HRV ja Kanada pangaaktseptide näol on tegemist eri instrumentidega.
Therefore, even though bank acceptances may allegedly not be intended to extend payment terms, the evidence at hand demonstrated the contrary.
HRVs kasutatakse neid maksevahendina, kuid Kanadas kasutavad neid korporatiivsed laenuvõtjad, et täita oma lühiajalisi rahastamisnõudeid.
In any case, the Commission considered that the fact that interests are not paid on bank acceptances extending the payment term of the seller, is another indication that the Chinese banking sector is distorted and provides preferential lending to certain key industries.
Komisjon ei nõustu selle väitega ja leiab, et pangaaktseptid on mõlemas riigis lühiajaliste rahastamisnõuete lahendused.
On this basis, these claims had to be rejected.
Tõepoolest saavad äriühingud pangaaktsepti kasutades käsitada tarnijale makstavaid summasid pangale makstavate summadena.
Another interested party claimed that the basis for the calculation of the benefit should be reduced by the amount of the deposits that it made as a guarantee for the bank acceptances.
Lisaks selgus uurimise käigus, et mitme eksportiva tootja puhul pikendas pank nende arvete maksetähtaegu, millega arved olid seotud, parandades nii valimisse kaasatud eksportivate tootjate lühiajalist sularahapositsiooni.
In this regard, it should first be noted that it is common practice for banks to request guarantees from their clients when granting credit line facilities or loans.
Nagu on kirjeldatud Kanada keskpangasisese aruteludokumendi (edaspidi „Kanada keskpanga dokument“) 1. leheküljel, on Hiina ja Kanada pangaaktseptide vahel veel teisigi sarnasusi, sest nende mõlema puhul on olemas „ettevõtjast krediidivõtjalt (kliendilt) saadud otsene ja tingimusteta korraldus teha väljakujunenud krediidiliini (nn BA rajatis) järgides ülekanne mõnes Kanada pangas.
Reference is also made to recital (323) below which provides that borrowers in Canada need to have a credit line facility in order to obtain bank acceptances.
Kui selline ülekanne tuleb teha, siis garanteerib aktsepti (laenu) andnud pank põhi- ja intressisummad templiga dokumendiga ning on täies ulatuses vastutav juhul, kui ettevõtjast krediidivõtja ettenähtud tähtajal makset ei tee.“ Arvestades nende kahe turu sarnasust, tuli see väide tagasi lükata.
On this basis, the rates charged on the Canadian market take into consideration the existence of such guarantees.
Veel väitis teine huvitatud isik, et vastupidiselt Hiina süsteemile peavad Kanada pangad eraldama vahendid pangaaktsepti väljastamise päeval.
Furthermore, it should be noted that such guarantees are not used by the banks to pay the outstanding debts to suppliers but as a method to secure that the exporting producer will bear its financial responsibility vis-à-vis the bank.
Selle põhjal väitis ta, et garantiitasu hõlmab pankadele rohkem kohustusi, kulusid ja riske kui Hiina süsteem.
The investigation also revealed that such guarantees are not systematically requested by Chinese banks and that they can take various forms including down payments or term deposits bearing interest.
Sellega seoses tuleb märkida, et asjaolu, et vahendid tehakse kättesaadavaks, ei ole oluline, kuna Hiina süsteemis on ka ette nähtud, et pank peab eraldama vahendid, kui pangaaktsepti omanik soovib seda diskonteerida ja vahendid on kättesaadavad.
Furthermore, the Commission also noted that the fee paid on bank acceptances is calculated on the basis of the face value of the bank acceptances, not an amount reduced by the amount of the guarantee.
Vastutuse ülekandmine ja vahendite võimalik ülekandmine pangaaktsepti omanikule selgitab ka seda, miks pangad tunnustavad pangaaktsepti laenudena.
Another interested party claimed that no benefit for the bank acceptance fee should have been calculated as a guarantee for the financial service provided by the Chinese banks on the grounds that banks do not need to fund the notes at their issuance or at their maturity since such payments are funded by the exporting producer in question unless it would become insolvent.
Kohustuste ja riskide osas leidis komisjon, et need on samaväärsed, kuna pangad peavad omama rahalisi vahendeid alates aktsepti emiteerimise päevast, nad annavad sarnaselt võlausaldajaga tingimusteta lubaduse maksta pangaaktsepti eest pangaaktseptis ettenähtud tähtajaks.
As a consequence, the banks would allegedly not run any financial risk as they only act as an intermediary.
Üks eksportiv tootja väitis, et Kanada keskpanga dokumendi kohaselt ei ole krediidiliinid Kanada turul antavate pangaaktseptide korral õiguslikud nõuded.
The same party also claimed that the terms of the contract provide for adequate financial guarantees for the banks.
Sellega seoses tuleb kõigepealt märkida, et Kanada keskpanga dokument ei sisalda sellist avaldust.
In this regard, reference is made to recital (310) which confirms that financial institutions recognise bank acceptances as loans and to recital (304) which provides that banks which engage in bank acceptance agreements make an unconditional pledge that they will pay a certain amount on a given date.
Seepärast käsitatakse kooskõlas alusmääruse artikli 6 punktiga c saaja kasuna järgmise kahe summa vahet: summa, mille äriühing maksab Hiina finantsasutuste võimaldatud pangaaktseptide eest, ning summa, mis tal tuleks maksta võrreldavate pangaaktseptide eest, mida ta võiks Kanada turul reaalselt saada kui võrdlusalus.
Furthermore, considering that bank acceptances may be discounted, banks should make sure that sufficient funds are available between the issuance and the maturity of the bank acceptance.
Kasu kindlaksmääramiseks võrdles komisjon pangaaktseptide tasu, mida maksavad asjaomased valimisse kaasatud eksportivad tootjad, CDORiga (tunnustatud Kanada võrdlusindeks pangaaktseptide jaoks, mille tähtaeg on üks aasta või vähem), kohandatuna asjaomase marginaaliga, et võtta arvesse ostjate krediidivõimelisust (tempelmaks).
In this regard, it should also be noted that standard credit line facility contracts applicable in the PRC foresee that they can be used for various types of loans including bank acceptances thus confirming the need for the bank to have sufficient funds available.
Tempelmaksu taseme kohta teabe puudumisel kasutati samu marginaale, mida kasutati Hiina jüaanides nomineeritud laenude korral (vt põhjendus 284).
After analysis of the terms of the contracts between the financial institutions and the exporting producers, it was considered that they are inadequate in view of the involvement, unconditional obligations and the financial risk that financial institutions run when engaging in bank acceptance agreements.
Lisaks analoogselt Kanada olukorraga ning kooskõlas artikli 6 punkti d alapunktiga ii, arvutati ka kasu krediidiliini eest, mis oleks pidanud kehtima, tuginedes põhjenduses 299 nimetatud võrdlusalusele, kasutades arvutamise alusena uurimisperioodil igalt eraldi pangalt asjaomasel hetkel saadud pangaaktseptide kohustiste suurimat summat.
Consequently the above claim had to be rejected.
Kooskõlas alusmääruse artikli 6 punktiga b arvutati kasu ka nende pangaaktseptide eest, millega pikendati tarnijate ees olevate kohustiste maksetähtaega, de facto intressimäära vormis ilma lühiajalise laenuta asjaomastele valimisse kaasatud eksportivatele tootjatele.
Following disclosure, several interested parties repeated the claim made before disclosure that the bank acceptance note system is a generally available financing tool not limited to the electric bicycle industry.
Sellega seoses tuleb märkida, et selle konkreetse eksportiva tootja kohta esitatud tõendid näitavad, et pangaaktseptidega pikendati arvete maksetähtaegu, millele nad viitasid.
Several interested parties also claimed that the Commission had to substantiate its determination of specificity on the basis of positive evidence.
Seetõttu peeti neid de facto laenudeks.
In this regard, reference is made to recitals (195) to (202) and also more specifically to recital (319) which provide positive evidence concerning the specificity aspects of such preferential policy whereby such financial instrument is not generally available in such terms and therefore specific to a limited number of industries such as the electric bicycle.
Neil põhjustel ja nagu on selgitatud põhjenduses 335, arvutati ka kasu de facto intressivaba lühiajalise laenu vormi järgides.
These claims had therefore to be rejected.
Lisaks sellele ja nagu on selgitatud põhjenduses 334, analoogselt Kanada turu olukorraga, mis tahes de facto laenu olemasolust sõltumata, arvutati ka kasu, mis oleks saadud krediidiliiniga, mis oleks pidanud olema olemas.
Calculation of the benefit
Eeltoodu põhjal tuli see väide tagasi lükata.
According to the information available, a bank acceptance system in the form as described in recitals (304) to (308) does not exist in the EU.
Üks teine huvitatud isik väitis, et krediidiliini kasu arvutamine lisaks garantiitasule tõi kaasa kahekordse arvestuse, sest garantiitasu tuleks pidada piisavaks, et katta pangaaktsepti andmisega seotud finantskulud ja riskid.
However, based on the information publicly available such form of credit is available in Canada where bank acceptances are used by corporate borrowers to meet their short-term funding requirements.
Samuti väitis ta, et kirjaliku krediidilepingu sõlmimise korral ei ole põhjust arvata, et pank võtaks sellise krediidiliini korraldamise eest tasu.
Bank acceptances in Canada are normally used by companies which do not enjoy the highest credit rating.
Veel väitis ta, et garantiitasu ja krediidiliini eest makstav tasu peaksid olema pärit samast allikast.
In order to obtain such bank acceptances, borrowers need to have a credit line facility on which they will draw.
Sellega seoses viidatakse põhjendusele 323, milles on öeldud, et laenuvõtjatel peab olema krediidiliinivahendid, millele nad tuginevad.
In order to offer such guarantee, banks normally charge a bank acceptance fee set at the level of the Canadian Dollar Offered Rate (‘CDOR’) and a stamping fee ranging from a few basis points (bps) to over 100 bps depending on the creditworthiness of the borrowers.
Lisaks sellele ja nagu on märgitud põhjenduses 318, tuletatakse meelde, et mitme valimisse kaasatud eksportiva tootja krediidiliinilepingud näevad ette, et seda vahendit saab kasutada eri liiki laenude, sealhulgas pangaaktseptide jaoks.
Under normal market circumstances, bank acceptances would thus normally be subject to a so-called bank acceptance fee and shall be part of a credit line because a bank acceptance is a direct and unconditional liability of the accepting bank.
Lisaks sellele on Kanada keskpanga dokumendis ette nähtud, et „vahendus- ja agentuuritasusid kohaldatakse nii esmaste kui ka BA-põhiste krediidiliinide suhtes“.
In the case of the Chinese sampled exporting producers, the bank acceptance fee was set at a flat rate of 0,05 % of the bank acceptances amount regardless of the creditworthiness of each sampled exporting producer and, when existing, credit lines were provided free of charge.
Sarnaselt Kanada turu olukorraga leiti olevat mõistlik võtta kasu arvutamisel arvesse krediidiliini vahendamise tasu.
Following disclosure one exporting producer claimed that the Commission had double counted some adjustment entries and had included entries irrelevant to the issuance of bank acceptance notes in its calculation of the subsidy amount.
Võrdlusaluste allika osas viidatakse punktile 3.3.1 ja asjaolule, et komisjon pidi teatavate sooduslaenudena antud väidetava subsideerimise ja selle ulatuse uurimisel toetuma osaliselt kättesaadavatele faktidele.
However, the calculations were based on information provided by the company and verified by the Commission and the alleged errors could not be verified anymore.
Igal juhul leitakse, et kasutatud teave on mõistlik ja kajastab tavapäraseid turutingimusi.
This claim was therefore rejected.
Üks huvitatud isik väitis, et komisjon ei ole kajastanud teiste Hiina kommertspankade „vähem soodsaid tingimusi“ ja et ta ei ole põhjendanud, miks on kolmanda riigi võrdlusalus asjakohane, ja et komisjon ei teinud vajalikke kohandusi, et tagada võrreldavus.
Several interested party claimed that bank acceptances should not be regarded as loan on the grounds that they do not grant longer payment terms to its beneficiaries and claimed that the manner in which a Member's domestic law characterizes a certain instruments is not dispositive of its characterization under WTO law.
Sellega seoses tuletatakse meelde, et nagu on selgitatud punktis 3.3.1, tegi Hiina valitsus sooduslaenude osas koostööd vaid osaliselt ning komisjon pidi teatavate sooduslaenudena antud väidetava subsideerimise ja selle ulatuse uurimisel toetuma osaliselt kättesaadavatele faktidele.
Several interested parties claimed that the bank acceptances available in the PRC and in Canada are different instruments.
Sellist osalist koostööd silmas pidades puudus komisjonil asjakohane oluline teave ja ta tegi oma järeldused kättesaadavate faktide põhjal.
While they are used as a method of payment in the PRC, they are used by corporate borrowers to meet their short-term funding requirements in Canada.
Selle põhjal leidis komisjon, et Hiina finantsturg on moonutatud, sest riik volitab või suunab riigi omandis olevaid ja eraõiguslikke finantsasutusi ellu viima valitsuse poliitikat ning andma soodusmääradega laene elektrijalgrattatööstusele, nagu on järeldatud põhjendustes 217 ja 222.
The Commission disagrees with this statement and considers that bank acceptances are a solution to the short-term funding requirements in both countries.
Seetõttu tuli see väide tagasi lükata.
Indeed, through the use of bank acceptances, companies see their payables towards suppliers transformed into payables to banks.
Üks huvitatud isik väitis ka, et CDOR ei ole tema rahalist olukorda arvestades sobiv võrdlusalus.
Furthermore, the investigation revealed that, in the case of several exporting producers, the bank acceptances extended the payment terms of invoices to which they related, thus improving the short term cash position of the sampled exporting producers.
Sellega seoses viidatakse valimisse kaasatud eksportivate tootjate krediidireitingu hinnangutele punktis 3.5.4.1.
Furthermore, as described on page 1 of the Staff Discussion Paper of the Bank of Canada (‘Bank of Canada document’), there are other likenesses between the Chinese and Canadian bank acceptances which both provide there should be ‘a direct and unconditional order from a corporate borrower (client) to draw down against its established line of credit (called a “BA facility”) at a Canadian bank.
Selliste hinnangute põhjal leiti, et kõigil valimisse kaasatud eksportivatel tootjatel peaks olema BB-reiting.