Commission Delegated Regulation (EU) 2018/179Show full title

PART 5 MONITORING AND REVIEW

35. MONITORING

(a)

The Secretariat shall monitor the implementation of this Sector Understanding and report to the Participants on an annual basis.

(b)

Each transaction deemed eligible under Article 39(a) shall be reported in accordance with the provisions of Article 24(a) and Appendix IV.

(c)

Each transaction deemed eligible under Article 39(b) shall be reported in accordance with the provisions of Article 24(a) and Appendix IV, in addition to which:

(1)

The reporting Participant shall indicate the link between that transaction and the transition list.

(2)

The transition lists shall be monitored on a semi-annual basis; to that end, the Secretariat shall meet with each Participant, with a view to:

• Monitoring the number of firm orders registered on the transition lists which have been delivered.

• Updating for the following year the delivery schedule for transactions registered on the transition lists.

• Identifying orders registered on transition lists which have not been or shall not, for any reason, be delivered to the buyer listed on such transition lists. Any such order shall be deleted from the transition list and shall not be reallocated in any way to any other buyer.

36. REVIEW

The Participants shall review the procedures and provisions of this Sector Understanding, against the criteria, and at the times, set out in paragraphs (a) and (b) below.

(a)

The Participants shall undertake the review of this Sector Understanding as follows:

(1)

In calendar year 2019 and every fourth year thereafter, in each case with three months prior notice given by the Secretariat.

(2)

At the request of a Participant after due consultation, provided that three months prior notice has been given by the Secretariat and the requesting Participant provides a written explanation of the reason for, and objectives of, the review as well as a summary of the consultations preceding its request.

(3)

Modalities of update of minimum premium rates and minimum interest rates are set out in Appendixes II and III respectively.

(4)

Fees set out in Article 16 shall be part of reviews.

(b)

The review set out in subparagraph (a)(1) above shall consider:

(1)

The extent to which the purposes of this Sector Understanding, as set out in Article 1 above, have been achieved and any other issue a Participant may wish to bring forward for discussion.

(2)

In view of the elements in subparagraph (b)(1) above, whether amendments to any aspect of this Sector Understanding are justified.

(c)

In recognition of the importance of the review process, to ensure that the terms and conditions of this Sector Understanding continue to meet the needs of the Participants, each Participant reserves the right to withdraw from this Sector Understanding in accordance with Article 40 below.

37. FUTURE WORK

Consideration will be given to:

(a)

Examining Participants' practices in providing official support before the starting point of credit.

(b)

The provisions applicable to indirect loans.

(c)

An extension of maximum repayments terms under Article 19 for used aircraft that have undergone significant refurbishment prior to sale.

(d)

An extension of maximum repayment terms under Article 21 for larger contract values.

(e)

The provisions applicable to “refurbishing” (Article 21) and “services” (Article 22).

(f)

The Cape Town eligibility process.

(g)

The definition of “Interested Participant”.