Rules For Latvian Export Credit Guarantor Notification Procedures The European Commission And The Other Member States Of The European Union Export Credit Guarantor For

Original Language Title: Noteikumi par Latvijas Republikas eksporta kredītu garantētāja paziņošanas procedūrām Eiropas Komisijai un citiem Eiropas Savienības dalībvalstu eksporta kredītu garantētājiem

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/151018

Cabinet of Ministers Regulations No. 2 2007 in Riga in January (2. Nr. 1, § 8) rules for Latvian export credit guarantor notification procedures the European Commission and the other Member States of the European Union export credit guarantor issued under the export credit guarantee of article 14 of the law i. General provisions 1 the question determines the mutual flow of information between the Republic of Latvia led the export credit guarantor (the guarantor-State limited liability company "Latvian guarantee agency"), other European Union export credit guarantor and the European Commission. II. types of notification procedures and communication privacy 2. To ensure circulation of information between the guaranteeing association, the European Union's export credit guarantor and the European Commission are set out in the four types of notification procedures: 2.1. annual information notice;
2.2. the notification of the decision;
2.3. information notice about planned warranty conditions;
2.4. information notice after the warranty conditions change. 3. notifications shall contain the information cannot be disclosed to third parties. III. Annual information notice 4. At the end of each year, but not later than next April 30 guarantor sends the rest of the European Union export credit guarantor and a notification to the European Commission on its activities during the previous year. 5. Annual information notice contains the buyer countries, to which the entities guarantee to workers in export contracts have been concluded and that the potential loss of cover provides export credit guarantees. For each such State provides information about the guarantor: the guarantor 5.1 the existing and the proposed total amount of guarantees;
5.2. the total outstanding exposure;
5.3. the guarantee premiums earned;
5.4. payment of the amount of the guarantee;
5.5. the amount of claims paid. 6. At the beginning of each year, but not later than 31 January notify the other guarantor of European Union export credit guarantor and the European Commission on policy and a State guarantee conditions guarantor is going to fix for guarantees provided for or apply for next year. IV. Communication of decision 7. If the offer is received, competing with the European Union on the basis of the exporting merchant or bank offerings, the guarantor shall reply promptly to the rest of the European Union export credit guarantor information you require about the export contract the buyer's legal status. If there is a disagreement on the legal status of the purchaser, in particular export contract interested European Union export credit guarantor to provide information to the rest of the European Union export credit guarantor and jointly agree on the legal status of the buyer. 8. If the European Union export credit guarantor in 10 working days after receipt of the request for information can not ascertain the buyer's legal status, the issue with the relevant information to be referred to the European Commission. V. information notice about planned warranty conditions 9. If the guarantor is planning for the advantageous guarantee for a specific export contract or agreement, or a specific sector (sector), or a specific country (countries), then according to the Organisation for economic cooperation and development (OECD) arrangement on guidelines for officially supported export credits (available in Latvian language Latvian guarantee agency's website on the internet) (hereinafter OECD arrangement on guidelines) guarantor of at least seven working days before their entry into force of the decision shall notify their intention to the other European Union export credit guarantor and the European Commission indicating the reasons for the proposed withdrawal (for example, the need to meet international competition and the corresponding guarantee premium payable amount). 10. If the guaranteeing association plans to require less guarantees than the premium in its annual notification in accordance with paragraph 2 of this rule, then, in accordance with the OECD arrangement on guidelines in the guarantor of at least seven working days before their entry into force of the decision shall notify their intention to the other European Union export credit guarantor and the European Commission. 11. If the guarantor on the basis of the other European Union export credit guarantor statement, planning to favourable warranty conditions than the European Union granted export credit guarantor, then in accordance with the OECD arrangement on guidelines in the guarantor of at least seven working days before their entry into force of the decision shall notify their intention to the other European Union export credit guarantor and the European Commission, presenting the guarantee premium rate. 12. If the guaranteeing association plans to guarantee potential losses of export contracts with buyers in countries where it does not offer a guarantee, the guarantor of at least seven working days before their entry into force of the decision shall notify their intention to the other European Union export credit guarantor and the European Commission, presenting the guarantee premium rate. Vi. Information Notice after the warranty conditions change 13. If the guarantor specified in the warranty conditions less favourable for a specific export contract or agreement, or a specific sector (sector), or a specific country (countries), then under the OECD arrangement on guidelines for nēm guarantor at the beginning of each year, but not later than 31 January notify these to the warranty conditions less favourable for the past year the rest of the European Union export credit guarantor and the European Commission. 14. If the guarantor adjusts one or more of the conditions of the guarantee policy, as set out in its annual notification in accordance with the provisions of paragraph 6, the guaranteeing association shall forthwith notify the other of the corrected conditions the European Union export credit guarantor and the European Commission. 15. If the guarantor on the basis of the notification in accordance with paragraph 9 of these regulations, shall be determined on the same conditions as determined by the initial notifier, the guaranteeing association shall immediately notify all the local European Union export credit guarantor and the European Commission. 16. the Guarantor will promptly give detailed replies to any of the other European Union export credit guarantor or the European Commission's request for clarification or information on its activities. VII. Communication used to provide communication features 17. all notifications made in writing, using the electronic mail system, or, if necessary, by any other appropriate means, to ensure the rapid exchange of information. VIII. Closing question 18. the procedures referred to in these provisions supplement the procedures laid down by the European Council of 3 December 1973 decision 73/391/EEC on consultation and information procedures in matters of credit insurance, credit guarantees and financial credits and the European Council of 27 July 1976, decision 76/641/EEC amending Decision 73/391/EEC on consultation and information procedures in matters of credit insurance, credit guarantees and financial credits. Informative reference to European Union directive rules included provisions deriving from Council of 7 May 1998 Directive 98/29/EC on harmonisation of the concerning export credit insurance for medium and long-term transactions. Prime Minister-Minister of finance Spurdziņš o. Economic Minister j. Malcolm