Council of the European Union 13 November 2006, 2006/789/EC: Council Decision of 13 November 2006 on consultation and information procedures in matters of credit insurance, credit guarantees and financial credits (Codified version)

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Council Decision 2006/789/EC codifies and replaces Decision 73/391/EEC, establishing mandatory consultation and information procedures among EU Member States in matters of credit insurance, credit guarantees, and financial credits linked to exports or departing from agreed Community norms. Key provisions prescribe the scope of consultation (covering supplier and financial credits, individual contracts, and global credit arrangements), the procedural steps and time limits for initiating and responding to consultations, and the conditions under which an immediate decision may exceptionally be taken without awaiting the outcome of consultation. The Decision is addressed to Member States and is supported by annexes setting out Community norms on credit duration and local expenditure, a scale of contract values, and a correlation table mapping provisions of the repealed Decision to the codified text.AI