Export Credit Guarantee

(redirected from Export Credit Guarantee Programs)

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 ?
In 2005, the United States made several changes to both its cotton and export credit guarantee programs in an attempt to bring them into compliance with WTO recommendations; however, Brazil argued that the U.
export credit guarantee programs have been substantially reformed, including a shortened contract length of only 24 months--down from 36 months--and increased user fees to ensure that the program's operating costs are fully covered by fees so as to avoid any implicit subsidy.
may have to change the export credit guarantee programs and eliminate restrictions on planting fruit and vegetable crops on program acreage.
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.

Full browser ?