Export Credit Guarantee

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Export Credit Guarantee

Guarantee from the UK Export Credit Agency.

Export Credit Guarantee

A guarantee of payment made by an export credit agency (ECA). ECAs are government or semi-government agencies that provide guarantees and insurance for exports, and occasionally for imports as well. An export credit guarantee ensures that an exporter receives payment for goods shipped overseas in the event the customer defaults, reducing the risk to the exporter's business and allowing it to keep its prices competitive. The use of export credit guarantees is controversial; critics allege that their existence negatively impacts international development, as developing countries cannot compete with such insured exports. Proponents argue that they enable developing countries to import products they otherwise would not be able to afford.
References in periodicals archive ?
The new farm bill also significantly tightens an export credit guarantee program that had been used by cotton exporters and subsequently found by the WTO to be unacceptable.
Cozendey said any sanction formula authorized by the WTO now would probably exclude cross retaliation in recognition of the steps taken by the United States to correct problems with its export credit guarantee program.
This is why the ISA is promoting Cuba's inclusion in the Export Credit Guarantee program and other U.
The Export Credit Guarantee Program (GSM-102) underwrites credit extended by the private banking sector in the United States (or, less commonly, by the U.
Export credit guarantee programs for commercial financing of U.
cotton support programs and the export credit guarantee program.
cotton programs and the General Sales Manager (GSM) 102 export credit guarantee program available to a range of agricultural commodities.
The United States also agreed to make what it calls "near term modifications" to the GSM-102 export credit guarantee program, and to engage with the government of Brazil in technical discussions regarding further operation of the program.
export credit guarantee program accounts for a large amount of the total damage award claimed by Brazil.
The groups urge that the United States request a new compliance panel to "update" the recent WTO ruling regarding USDA's GSM-102 export credit guarantee program.
export credit guarantee program is said to have had a "major impact on a number of key agricultural markets" by supplying government guarantee credits up to 98 percent of the export value on a short-term to long term basis.
may have to change the export credit guarantee programs and eliminate restrictions on planting fruit and vegetable crops on program acreage.

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