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COMMITMENTS AND CONTINGENCIES | 12 Months Ended
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Dec. 31, 2017
COMMITMENTS AND CONTINGENCIES [Abstract] |
COMMITMENTS AND CONTINGENCIES | 17. COMMITMENTS AND CONTINGENCIES Capital commitments As of December 31, 2017, commitments outstanding for the purchases of property, plant and equipment approximated $39.9 million, which will be due subsequent to receipt of the purchases. Lease commitments The operating lease commitments as of December 31, 2017 were principally for the housing rental from Daqo New Material and Daqo Group. The lease expense was $1,050,661, $1,024,970 and $1,014,556 for the years ended December 31, 2015, 2016 and 2017, respectively. Future minimum lease payments are as follows:
Year ending December 31 |  |  |  |
2018 |  | $ | 1,058,012 |
2019 |  |  | 11,925 |
Total |  | $ | 1,069,937 |

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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