As a result of the recent global economic crisis, many exporters and bankers have found themselves seeking state support for their international transactions. Such support exists in the form of export credit insurance and guarantees provided by national export credit agencies (ECAs) to support national exports. However, this is a complicated business, with complex terms and a great many issues that must be resolved in order to satisfy ECA requirements. This is the first practitioner handbook written on export credit insurance and guarantees, providing manufacturers, exporters, bankers, and lawyers with a unique and much needed resource. It covers all the key issues involved in successfully structuring an export transaction and selecting the appropriate type of ECA cover for each individual transaction. It provides comprehensive coverage of the key types of export credit insurance and guarantees used in international trade, with explanations about the risks covered by each, premiums, application procedures, claims and recoveries, as well as analysis of the international regulations governing this type of business and other aspects of obtaining policies and guarantees from ECAs. By learning and understanding the various types of cover and their specific variations, the reader will be able to select the most appropriate type of cover for each specific transaction and structure the transaction in such a way as to be eligible to obtain ECA cover.
PART I: SUBJECT MATTER, PARTIES AND RISKS 1. Subject Matter and Basic Terms 2. ECAs and Users of the ECA Cover 3. Political and Commercial Risks PART II: TYPES OF ECA COVER 4. Short-Term, Medium- to Long-Term and Partial Cover 5. Supplier Credit Cover 6. Supplier Credit Cover with the Involvement of Banks 7. Supplier Credit Cover in Complex Transactions 8. Buyer Credit Cover 9. Other Types of ECA Cover 10. Foreign Investment Cover 11. ECA Direct Loans PART III: PROCEDURES 12. Application, Offer and Policy 13. Premium 14. Foreign Content 15. Currency 16. Confidentiality 17. Security for Payment of Credits Covered by ECAs 18. Reinsurance 19. Claims and Indemnification 20. Recovery PART IV: LEGAL FRAMEWORK 21. OECD and EU Regulations on Terms of ECA Cover 22. Other OECD Regulations and International Sanctions 23. Selected Standard Terms of ECA Cover
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