natgillin/translations-raw huggingface dataset:
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.
Nekoliko zainteresiranih strana tvrdilo je i da je Komisija svoje utvrđivanje specifičnosti morala potkrijepiti na temelju pozitivnih dokaza.
As a consequence, the banks would allegedly not run any financial risk as they only act as an intermediary.
U tom smislu upućuje se na uvodne izjave od 195. do 202., a posebno na uvodnu izjavu 319., u kojima su pruženi pozitivni dokazi o specifičnostima takve povlaštene politike, pri čemu navedeni financijski instrument nije općenito dostupan u takvim uvjetima i stoga je specifičan za ograničen broj industrija kao što je industrija električnih bicikala.
The same party also claimed that the terms of the contract provide for adequate financial guarantees for the banks.
Te su se tvrdnje stoga morale odbaciti.
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.
Izračun koristi
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.
Prema dostupnim informacijama, sustav bankovnih akcepata, u obliku opisanom u uvodnim izjavama od 304. do 308., ne postoji u EU-u.
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.
Međutim, na temelju javno dostupnih informacija, takav oblik kreditiranja dostupan je u Kanadi gdje korporativni zajmoprimci bankovne akcepte koriste kako bi zadovoljili svoje potrebe za kratkoročnim financiranjem.
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.
Bankovne akcepte u Kanadi obično koriste društva koja nemaju najviši kreditni rejting.
Consequently the above claim had to be rejected.
Kako bi se dobili takvi bankovni akcepti, zajmoprimci moraju imati kreditnu liniju iz koje će se povlačiti sredstva.
As far as specificity is concerned, it was considered that, as mentioned in recital (106) and foreseen by the Light Industry Development Plan, the GOC foresees ‘a financial policy that supports the development of medium and small sized enterprises, further explore the financial channels of medium and small sized enterprises, perfect the credit guarantee system of medium and small sized enterprises’, the bank acceptances are another form of preferential support to encouraged industries such as the electric bicycle sector.
Kako bi ponudile takvo jamstvo, banke obično naplaćuju naknadu za bankovni akcept koja se utvrđuje na razini stope CDOR (Canadian Dollar Offered Rate) i pristojbu u rasponu od nekoliko baznih bodova do preko 100 baznih bodova, ovisno o kreditnoj sposobnosti zajmoprimaca.
Furthermore, such form of support did not take into account the financial situation of the sampled exporting producers as all banks charged a flat fee, which, based on the information on the file, is lower than available international benchmarks and even lower than the premium charged to companies with a poor credit rating such as the sampled exporting producers (see recital (324)).
U normalnim tržišnim okolnostima bankovni akcepti stoga bi obično bili podložni takozvanoj naknadi za bankovni akcept i moraju biti dio kreditne linije jer je bankovni akcept izravna i bezuvjetna obveza banke koja ga izdaje.
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.
U slučaju kineskih proizvođača izvoznika u uzorku, naknada za bankovni akcept određena je po fiksnoj stopi od 0,05 % iznosa bankovnih akcepata neovisno o kreditnoj sposobnosti pojedinog proizvođača izvoznika u uzorku te su kreditne linije, ako su postojale, davane bez naknade.
Several interested parties also claimed that the Commission had to substantiate its determination of specificity on the basis of positive evidence.
Nakon objave jedan je proizvođač izvoznik tvrdio da je Komisija dvostruko računala neke unesene izmjene i u svoj izračun iznosa subvencije uključila stavke koje nisu bitne za izdavanje bankovnih akcepata.
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.
Međutim, izračuni su se temeljili na informacijama koje je dostavilo društvo i provjerila Komisija, a navodne pogreške više nije bilo moguće provjeriti.
These claims had therefore to be rejected.
Stoga je ta tvrdnja odbačena.
Calculation of the benefit
Nekoliko je zainteresiranih strana tvrdilo da se bankovni akcepti ne bi trebali smatrati zajmom zbog toga što svojim korisnicima ne omogućuju duže rokove plaćanja te da način na koji nacionalno pravo države članice karakterizira određene instrumente nije relevantan za njihovu karakterizaciju na temelju prava WTO-a.
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.
Nekoliko zainteresiranih strana tvrdilo je da se bankovni akcepti dostupni u NRK-u razlikuju od instrumenata u Kanadi.
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.
Iako se upotrebljavaju kao način plaćanja u NRK-u, u Kanadi ih koriste korporativni zajmoprimci kako bi zadovoljili svoje potrebe za kratkoročnim financiranjem.
Bank acceptances in Canada are normally used by companies which do not enjoy the highest credit rating.
Komisija se ne slaže s tom tvrdnjom i smatra da su bankovni akcepti odgovor na potrebe za kratkoročnim financiranjem u objema zemljama.
In order to obtain such bank acceptances, borrowers need to have a credit line facility on which they will draw.
Doista, korištenjem bankovnih akcepata obveze društava prema dobavljačima prenose se u obveze prema bankama.
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.
Nadalje, ispitnim je postupkom otkriveno da je u slučaju nekoliko proizvođača izvoznika uporabom bankovnih akcepata produljen rok plaćanja povezanih računa, zahvaljujući čemu se poboljšala kratkoročna likvidnost proizvođačâ izvoznika u uzorku.
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.
Nadalje, kako je opisano na stranici 1. dokumenta za raspravu Središnje banke Kanade („dokument Središnje banke Kanade”), postoji još sličnosti između kineskih i kanadskih bankovnih akcepata, a jednima i drugima predviđa se „izravan i bezuvjetni nalog korporativnog zajmoprimca (klijenta) za povlačenje sredstava iz njegove uspostavljene kreditne linije (zvane ‚instrument kreditnog akcepta’) u kanadskoj banci.
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.
Nakon povlačenja banka akceptant (ili banka zajmodavac) pečaćenjem dokumenta jamči glavnicu i kamate i time snosi punu odgovornost za plaćanje pri dospijeću u slučaju neplaćanja od strane predmetnog korporativnog zajmoprimca.”
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.
S obzirom na sličnosti između tih dvaju tržišta ta se tvrdnja morala odbaciti.
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.
Druga je zainteresirana strana tvrdila da, za razliku od kineskog sustava, kanadske banke trebaju osigurati sredstva na dan izdavanja bankovnog akcepta.
This claim was therefore rejected.
Na temelju toga strana je tvrdila da se naknadom za jamstvo pokrivaju veće obveze, troškovi i rizici za banke nego što je to slučaj u sklopu kineskog sustava.
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.
U tom smislu treba napomenuti da je činjenica da su sredstva stavljena na raspolaganje nebitna jer se kineskim sustavom predviđa i obveza banke da stavi sredstva na raspolaganje ako vlasnik želi diskontirati svoj bankovni akcept i imati sredstva na raspolaganju.
Several interested parties claimed that the bank acceptances available in the PRC and in Canada are different instruments.
Prijenos obveze i potencijalni prijenos sredstava na nositelja bankovnog akcepta razlog su i zašto banke priznaju bankovne akcepte kao zajmove.
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.
Kad je riječ o obvezama i rizicima, Komisija je smatrala da su oni istovjetni jer banke moraju raspolagati sredstvima od dana izdavanja te se bezuvjetno obvezuju na plaćanje bankovnog akcepta po njegovu dospijeću u slučaju neispunjavanja obveza vjerovnika.
The Commission disagrees with this statement and considers that bank acceptances are a solution to the short-term funding requirements in both countries.
Jedan je proizvođač izvoznik tvrdio da prema dokumentu Središnje banke Kanade kreditne linije nisu zakonska obveza za bankovne akcepte na kanadskom tržištu.
Indeed, through the use of bank acceptances, companies see their payables towards suppliers transformed into payables to banks.
U tom smislu najprije treba napomenuti da dokument Središnje banke Kanade ne sadržava takvu izjavu.
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.
Naprotiv, u nekoliko slučajeva upućuje na postojanje uspostavljene kreditne linije.
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.
Na temelju toga ta je tvrdnja odbačena.
Once the drawdown occurs, the accepting (or lending) bank guarantees the principal and interest by stamping the paper, thus becoming fully liable for the payment upon maturity in case of nonpayment by the underlying corporate borrower.’
U skladu s člankom 6. točkom (c) osnovne uredbe smatra se da je ta korist za primatelje razlika između iznosa koji društvo plaća za dobivanje bankovnih akcepata od kineskih financijskih institucija i iznosa koji bi društvo platilo za usporedive bankovne akcepte koje bi moglo dobiti na kanadskom tržištu, koji služe kao referentna vrijednost.
In view of the likenesses between both markets, this claim had to be rejected.
Kako bi utvrdila korist, Komisija je usporedila naknadu za bankovne akcepte koju je platio predmetni proizvođač izvoznik u uzorku sa stopom CDOR, koja je priznati kanadski referentni indeks za bankovne akcepte s rokom dospijeća do godine dana, korigiranih odgovarajućim uvećanjem tako da se uzme u obzir kreditna sposobnost kupaca (pristojba).
Another interested party further claimed that, contrary to the Chinese system, Canadian banks need to provide the funds on the day when the bank acceptance is issued.
S obzirom na to da nedostaju informacije o razini pristojbe, upotrijebljeno je uvećanje kao za zajmove izražene u RMB (vidjeti uvodnu izjavu 284.).
On this basis, it claimed that the guarantee fee covers more obligations, costs and risks for the banks than the Chinese system.
Usto, slično situaciji u Kanadi i u skladu s člankom 6. točkom (d) podtočkom ii., korist za kreditnu liniju koja je trebala postojati također je izračunana na temelju referentne vrijednosti iz uvodne izjave 299. primjenom najvišeg iznosa obveza na temelju bankovnih akcepata svake pojedinačne banke u određenom trenutku u RIP-u kao osnove za izračun.
In this regard, it should be noted that the fact that the funds are made available is irrelevant as the Chinese system also provides that the funds need to be made available by the bank, should the holder of the bank acceptance note wish to discount it and have the funds available.
U skladu s člankom 6. stavkom (b) osnovne uredbe za bankovne akcepte s pomoću kojih je produljen rok plaćanja obveza prema dobavljačima, korist je također izračunana u obliku de facto beskamatnog kratkoročnog zajma predmetnim proizvođačima izvoznicima u uzorku.
The transfer of liability and potential transfer of funds to the holder of the bank acceptance also explain why banks recognize bank acceptances as loans.
Kako bi utvrdila tu korist, Komisija je primijenila istu metodologiju iz uvodne izjave 284. za zajmove izražene u RMB.
As far as obligations and risks are concerned, the Commission considered that these are equivalent as the banks need to have the funds available from the day of issuance, they have an unconditional pledge to pay the bank acceptance at the maturity of the bank acceptance in the case of default by the creditor.
Nakon objave jedna je zainteresirana strana tvrdila da je Komisija pogreškom dvostruko računala koristi dodavanjem „mjenice predočene za akcept – naknade za obradu kreditne linije” i „mjenice predočene za akcept – povlaštene kamate” koje je trebalo platiti na de facto zajam za korist izračunanu za naknadu za bankovne akcepte.
One exporting producer claimed that following the Bank of Canada document, credit lines are not a legal requirement for bank acceptances on the Canadian market.
U tom smislu treba napomenuti da raspoloživi dokazi koji se odnose na konkretnog proizvođača izvoznika pokazuju da je uporabom bankovnih akcepata produljen rok plaćanja povezanih računa.
In this regard, it is first noted that, the Bank of Canada document does not contain such a statement.
Posljedično, smatrali su se de facto zajmom.
On the contrary, it refers in several instances to the existence of an established credit line facility.
Na temelju toga i kako je objašnjeno u uvodnoj izjavi 335., izračunana je i korist u obliku de facto beskamatnog kratkoročnog zajma.
On this basis, this claim was rejected.
Nadalje, kako je objašnjeno u uvodnoj izjavi 334., analogno situaciji na kanadskom tržištu, bez obzira na postojanje de facto zajma izračunana je i korist za kreditnu liniju koja je trebala biti uspostavljena.
In accordance with Article 6(c) of the basic Regulation, the benefit thus conferred on the recipients is considered to be the difference between the amount that the company pays for the provision of bank acceptances by Chinese financial institutions and the amount that the company would pay for a comparable bank acceptances obtainable on the Canadian market as benchmark.
Na temelju prethodno navedenog ta se tvrdnja morala odbaciti.
In order to determine the benefit, the Commission compared the bank acceptance fee paid by the sampled exporting producer concerned with the CDOR -which is the recognized Canadian benchmark index for bank acceptances with a term to maturity of one year or less- adjusted with the appropriate mark-up to take account of the creditworthiness of the buyers (stamping fee).
Druga je zainteresirana strana tvrdila da se izračun koristi za kreditnu liniju uz već postojeću naknadu za jamstvo smatra dvostrukim računanjem jer bi se naknada za jamstvo trebala smatrati dostatnom za pokrivanje financijskih troškova i rizika povezanih s izdavanjem bankovnog akcepta.
In the absence of information on the level of the stamping fee, the same mark-up as the one used for loans denominated in RMB (see recital (284)) was used.
Također je tvrdila da je u slučaju pisanog ugovora o kreditnoj liniji neosnovano smatrati da bi banka naplatila naknadu za otvaranje takve kreditne linije.
Additionally, with an analogy to the situation in Canada and in accordance with Article 6 (d)(ii), a benefit for the credit line facility that should have been in place was also calculated on the basis of the benchmark mentioned above in the recital (299) using the highest amount of bank acceptance liabilities from each individual bank at a given moment in the IP as a basis for the calculation.
Tvrdila je i da bi se referentna vrijednost za naknadu za jamstvo i naknadu za kreditnu liniju trebala temeljiti na istom izvoru.
In accordance with Article 6(b) of the basic Regulation, for those bank acceptances that extended the payment term of the liabilities to the suppliers, a benefit was also calculated in the form of a de facto interest free short term loan to the sampled exporting producers concerned.
U tom je smislu uputila na uvodnu izjavu 323. u kojoj se navodi da zajmoprimci moraju imati kreditnu liniju iz koje će povlačiti sredstva.
In order to determine this benefit, the Commission used the same methodology as that described in recital (284) for loans denominated in RMB.
Nadalje, kako je navedeno u uvodnoj izjavi 318., podsjeća se da je ugovorima o kreditnim linijama nekoliko proizvođača izvoznika u uzorku predviđeno da se one mogu upotrebljavati za različite vrste zajmova, uključujući bankovne akcepte.
Following disclosure, one interested party claimed that the Commission erroneously double counted the benefits by adding the‘bill of acceptance –credit line arrangement fee’ and ‘bill of acceptance - preferential interest’ that should have been paid on the de facto loan to the benefit calculated for the bank acceptance fee.
Osim toga, dokumentom Središnje banke Kanade predviđeno je i da se „naknade za obradu i agencijske naknade primjenjuju na kreditne linije na temelju primarne stope i na temelju bankovnih akcepata”.
In this regard, it should be noted that the evidence at hand concerning this particular exporting producer shows that the bank acceptances extended the payment terms of the invoices to which they referred.
Analogno situaciji na kanadskom tržištu, smatralo se prihvatljivim u izračun koristi uključiti naknadu za obradu kreditne linije.
As a consequence, they were considered as a de facto loan.
Kad je riječ o izvoru referentnih vrijednosti, upućuje se na odjeljak 3.3.1. i činjenicu da se Komisija morala djelomično osloniti na raspoložive podatke pri ispitivanju postojanja i opsega navodnog subvencioniranja davanjem povlaštenih zajmova.
On these grounds, and as explained in recital (335) a benefit was also calculated in the form of a de facto interest free short term loan.
U svakom slučaju, smatra se da su korištene informacije prihvatljive i da odražavaju standardne tržišne uvjete.
Furthermore, as explained in recital (334) in analogy with the situation of the Canadian market, regardless of the existence of a de facto loan, a benefit for the credit line facility that should have been in place was also calculated.
Jedna je zainteresirana strana tvrdila da Komisija nije prikazala „manje povoljne uvjete” drugih kineskih komercijalnih banaka i da nije obrazložila zašto bi referentna vrijednost izvan zemlje bila primjerena, kao i da nije izvršila potrebne prilagodbe radi osiguranja usporedivosti.
On the basis of the above, this claim had to be rejected.
U tom se pogledu podsjeća da je kineska vlada, kako je objašnjeno u odjeljku 3.3.1., samo djelomično surađivala u pitanjima povezanima s davanjem povlaštenih zajmova te da se Komisija morala djelomično osloniti na raspoložive podatke pri ispitivanju postojanja i opsega navodnog subvencioniranja davanjem povlaštenih zajmova.
Another interested party claimed that calculating a credit line benefit in addition to the guarantee fee amounted to double counting on the grounds that the guarantee fee should be considered sufficient to cover financial cost and risks relating to the issuance of bank acceptance.
S obzirom na tu djelomičnu suradnju Komisiji su nedostajale relevantne ključne informacije te se za svoje nalaze morala osloniti na raspoložive podatke.
It also argued that, in the case of a written credit line agreement, it is unfounded to consider that a bank would charge a fee for arranging such credit line.
Na temelju toga Komisija je utvrdila da je kinesko financijsko tržište narušeno jer je vlada financijskim institucijama u državnom i privatnom vlasništvu povjerila da slijede vladine politike i osiguravaju zajmove po povlaštenim stopama za industriju električnih bicikala ili ih usmjeravala na to, kako je zaključeno u uvodnim izjavama 217. i 222.
It also claimed that the benchmark for the guarantee fee and credit line fee should stem from the same source.
Stoga se ta tvrdnja morala odbaciti.
In this regard, it is referred to recital (323) which provides that borrowers need to have a credit line facility on which they will draw.
Jedna je zainteresirana strana tvrdila i da CDOR nije odgovarajuća referentna vrijednost s obzirom na njezinu financijsku situaciju.
Furthermore, as mentioned in recital (318), it is recalled that the credit line facility contracts of several sampled exporting producers foresee that the facility can be used for various types of loans including bank acceptances.
U tom se smislu upućuje na procjene kreditnog rejtinga koje su izvršene za proizvođače izvoznike u uzorku u odjeljku 3.5.4.1.
Furthermore, the Bank of Canada document also foresees that ‘arrangement and agency fees are also applicable to both prime-and BA-based lines of credit’.
Na temelju tih procjena smatralo se da bi svi proizvođači izvoznici u uzorku trebali imati kreditni rejting BB.
In analogy with the situation on the Canadian market, it was considered reasonable to integrate a credit line arrangement fee in the calculation of the benefit.
Jedna zainteresirana strana dostavila je dodatne neprovjerene dokumente uz tvrdnju da je korist pogrešno izračunana na temelju toga što su se određeni ugovori trebali smatrati produljenim, a ne zasebnim ugovorima.
As far as the source of the benchmarks is concerned, reference is made to section 3.3.1 and the fact that the Commission had to partially rely on facts available when examining the existence and the extent of the alleged subsidisation granted through preferential lending.
Strana je tvrdila i da bi, u slučaju da je bila zaračunana administrativna pristojba, ta pristojba bila plaćena prije RIP-a.
In any case, it is considered that the information used is reasonable and reflects standard market conditions.
Nadalje, tvrdila je da Komisija nije uzela u obzir zadnju verziju spisa (verziju s ispravljenim stupcem).