1 offset contracts christian sylvain (ecco chairman) icc commission on commercial law and practice...
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Offset Contracts
Christian Sylvain (ECCO Chairman)
ICC Commission on Commercial Law and Practice (CLP) PARIS 13 November 2015
www.ecco-offset.eu
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Definition of OFFSET
Offset means any condition or undertaking that encourages local development or improves a
Party’s balance-of-payments accounts, such as the use of domestic content, the licensing of
technology, investment, counter‑trade and similar action or requirement.
GPA 1994-Revised April 2014
Applicable only to non-members
2The information in this document is ECCO property and is intended solely for the addressees.Reproduction and distribution are prohibited. Thank you.
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AREVA UNIVERSITY – Christian SYLVAIN – April 17th, 2013
Offsets : Overview
Country A Country BSupplier
CUSTOMER
S.O.E.
» Price
»Technical
» Timescale
» Financing
» General Conditions
MA
IN
CO
NT
RA
CT
Customer’s government
OFFSET CONTRACT OFFSET LEGISLATION
- Expressed as a % of the amount imported under the principal contract- Comes into force on the same date as the principal contract- Penalties and bank guarantees
OF
FS
ET
CO
NT
RA
CT
Creates an economic benefit by
adding value locally
Two processes in parallel
Equipment in exchange for payment
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Specificities of the Market
4The information in this document is ECCO property and is intended solely for the addressees.Reproduction and distribution are prohibited. Thank you.
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Main Characteristics of an Offset Contract
5The information in this document is ECCO property and is intended solely for the addressees.Reproduction and distribution are prohibited. Thank you.
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Known and unknown risks
6The information in this document is ECCO property and is intended solely for the addressees.Reproduction and distribution are prohibited. Thank you.
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Business & Legal Risks
7The information in this document is ECCO property and is intended solely for the addressees.Reproduction and distribution are prohibited. Thank you.
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Offset requires a Specific Contract
8The information in this document is ECCO property and is intended solely for the addressees.Reproduction and distribution are prohibited. Thank you.
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ICC Guide Published in October 1989
9The information in this document is ECCO property and is intended solely for the addressees.Reproduction and distribution are prohibited. Thank you.
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The information in this document is ECCO property and is intended solely for the addressees.Reproduction and distribution are prohibited. Thank you.
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Thank you
European Club for Countertrade & OffsetAssociation under the French law of 1901 - no. W922002916
69 rue Louise Michel92300 Levallois-Perret
Francewww.ecco-offset.eu [email protected]