And Monitoring Of The Provision Of The Guarantee Arrangements

Original Language Title: Galvojumu sniegšanas un uzraudzības kārtība

Read the untranslated law here: https://www.vestnesis.lv/ta/id/112656

Cabinet of Ministers Regulations No 513 Riga, July 12, 2005 (pr. No 40 33) provide the guarantee and supervision order Issued in accordance with the law on budget and financial management 37. the second paragraph of article i. General questions 1. determines the order in which the Minister of Finance on behalf of the State shall provide a guarantee in accordance with the State budget for the year to the statutory amount of the guarantee of the credit, financial obligations of the worker, and the order in which the project is monitored and guaranteed performance of the obligations. 2. Guarantees the State budget plan under the public investment programme and business support programmes, as well as study and student lending. 3. before the submission of the document to the legal person who is eligible for the guarantee, hold a contest for a credit check. The invitation to tender shall be coordinated with the Ministry of finance and the Commission in the competition include a representative of the Ministry of finance. II. Guarantee necessary documents for receiving 4. Legal person who qualifies for receipt of guarantee (credit worker) until 15 October of the financial year shall be submitted to the Ministry of finance documents in these provisions. If, after that date, the current year's State budget law is amended, which provides for the provision of a guarantee, the new documents are submitted after the date of entry into force of the law, but no later than 1 December of the financial year. 5. to get the guarantee credit in the Ministry of finance, the worker shall submit the following documents: 5.1 request for provision of the guarantee;
5.2. the last quarterly financial report;
5.3. sworn auditors verify annual accounts: 5.3.1. for all the transaction period, if economic activity lasts less than three years;
5.3.2. for the last three years of economic activity, if economic activity lasting more than three years;
5.4. the project's business plan, which planned to use galvojam for the implementation of the credit;
5.5. the opinion of the Ministry of industry, describe the economic importance of the project, expressed in the justification of the project and the provision of a guarantee, as well as provide information about Ministry of industry policy in support of the implementation of the project, and the Ministry of Public sector investment program project, the tender Commission decision on the choice of the project implementer (copy), if for the choice of the project promoter has hosted the contest;
5.6. information about expected security guarantee (property rights, supporting documentation and property assessment);
5.7. the statutes of the legal person (Charter) and a certificate of registration or other governing documents (copies);
5.8. sworn auditor's opinion on the quality of the business plan, feasibility, credit the financial position of the workers and the ability to repay the credit galvojam;
5.9. the draft agreement with the credit institution;
5.10. information about the worker's credit property encumbrance;
5.11. agreements that contribute to the implementation of the project (cooperation agreement, letter of intent and other types of agreements with suppliers, customers and business partners), if any, have been closed. III. Documentation and contracts Of guarantee provided by the 6 credit pays workers guarantee risk interest rate up to 2.5% of the loan balance. The guarantee risk interest rate is determined by the Minister of finance after the guarantee document required to perform the evaluation, taking into account the following criteria: 6.1. workers in the form of property credit and legal status;
6.2. for the pointer;
6.3. the profitability of assets;
6.4. project risks;
6.5. the credit security. 7. After the evaluation documents the Minister of Finance shall decide to provide or not to provide a guarantee. 8. If the decision on the provision of a guarantee, the Minister of finance under this provision prescribed in paragraph 3 of the credit institutions and credit in the credit agreement concluded for the worker and the contract of guarantee signed by the credit institution. At the same time the Minister for finance and credit workers sign a contract for security, as well as the guarantee and supervision of service contract. 9. If the planned State guarantee is classified as commercial support, before the reconciliation according to point 8 of these rules need to get European Commission decision on the guarantee of compliance with the Treaty establishing the European Community. The State guarantee will be provided, subject to the decision of the European Commission stated conditions. 10. If the decision has been taken not to provide a guarantee, the trading decisions of acceptance by the borrower, the credit send giving the reasons for the refusal. IV. the State‐guaranteed loan supervision 11. duration of the contract of guarantee credit institution in each month (no later than the fifth day) in the Ministry of finance submitted the following information for the previous month: 11.1. credit costs have made;
11.2. in the reporting period credit rates;
11.3. credit payments of workers;
11.4. late payments;
11.5. credit balance. 12. The guarantee service and monitoring credit during the term of the contract, the worker shall submit the following information to the Ministry of Finance: 12.1. each year, before 30 April: the sworn auditor verify the report of the previous year, but legal persons, for which the law on annual accounts stated that the previous year's report should be produced until July 31, the report shall be submitted to the July 31;
12.2. each year, by 30 April, 31 July and 31 October: balance sheet, income statement and cash flow statement for the three, six or nine months;
12.3. to receive the full credit each month to the fifth day, information on the amounts of the credit institution paid, stating the date of receipt of credit, currency that received credit, and credit for part of the applicable interest rate;
12.4. the workers made the credit loan principal and interest repayments (including payments, identity document and a copy of the invoice), no later than five working days after payment is made;
12.5. If the credit in whole or in part, the workers will not be able to make any payment under a credit agreement, guarantee or guarantee service and monitoring the contract, he shall notify not later than 30dien before payment is made;
12.6. supplementary information on the financial situation of credit workers (at the request of the Ministry of Finance);
12.7. any person in Court brought a claim against the credit of the breach — immediately following receipt of such information;
12.8. the insolvency process, if one is undertaken, — immediately following receipt of such information. 13. no later than 10darbdien after the signing of the Treaty of guarantee (except where guarantee granted in these terms in accordance with the procedure laid down in chapter V) Ministry of finance information for credit workers (name, registration number, address and the date of signature of the Treaty of guarantee) sends the procurement monitoring Bureau for inclusion in the principal register. 14. the worker is responsible for the implementation of the project and get the State‐guaranteed loan of use according to the project purpose. Credit worker all payments shall be made in good time in accordance with the contracts and payments made accurately reflects the accounting records, as well as financial and technical project lead for analytical purposes. 15. a credit institution shall take only the costs of the credit invoice fee in accordance with concluded contracts. 16. The guarantee contract period the Treasury guarantee card financial records, accounts and records of all financial obligations due to the contract of guarantee and guarantee service agreement. 17. To change the State‐guaranteed loan agreement, the loan taker changes the prior approval of the Ministry of finance. If a security classified as commercial support, the changes should also be aligned with the European Commission under the business support the control rules of law. 18. Once a year until the end of the project, the worker shall submit the credit industry Ministry a report on the implementation of the project. Two months after the end of the project loan, the worker shall submit to the Ministry of industry project final report. 19. Six months after the end of the implementation of the project shall be submitted by the Ministry of industry in the Cabinet of Ministers a report on the execution of the project. V. provide on behalf of the State guarantees for student loans and student loans to credit institutions of a guarantee of 20 student obligations under the Cabinet of Ministers of 29 May 2001, rule no. 220 "procedure is given, and pay off student loans and delete the student loan from credit institution funds with State guarantee on behalf of" the conditions provided by the Minister of education and Science approved the credit summary list of employees receiving the Ministry of finance. 21. The Ministry of education and science workers ' credit summary list indicating the following information: 21.1 the credit industry;
21.2. the credit amount;

21.3. the guarantor (an individual's name, social security number, or the name of a municipality and the taxpayer registration number), or information about the pledge (specify the name of the securities, and the market value of the real estate property market value). 22. After the credit summary list of workers receiving Minister of finance signed a contract with a credit guarantee and surety services agreement to be concluded between the Ministry of finance, the Ministry of education and science and the credit institution. Prime Minister a. Halloween Finance Minister o. Spurdziņš