France vs Carrefour, February 1992, Supreme Administrative Court no 81690/82782

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In the French Carrefour case, the French Supreme Administrative Court considered a rate of 0.25% for a loan guarantee to be at arm’s length.

According to the Court, the remuneration should be commensurate with the risk incurred as well as with the market value of this service, irrespective of the actual cost.

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Carrefour 1992_81690_82782_CE

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