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COMMITMENTS AND CONTINGENCIES

12 Months Ended

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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- References

No definition available.

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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

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