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 ?
30 that export credit guarantees issued under the GSM-102 program and deemed illegal by the WTO increased from $1.
chicken-product exports in 10 ways, such as providing subsidies on export credit guarantees or subsidies under programs to boost exports.
cotton support programs while the 2014 farm bill is in force or against agricultural export credit guarantees under the GSM-102 program as long as the program is operated consistent with the terms outlined in a Memorandum of Understanding (MOU) signed by the two countries.
Expand and improve SME access to export credit guarantees
The facility covers letters of credit and export credit guarantees.
Add in more focused support for exports - such as better export credit guarantees - and an enhanced R&D tax credit scheme (another area that the UK has led on) and you can see a genuine growth-and -rebalancing agenda start to take shape.
They said executives from Air France, British Airways and Lufthansa are to attend a meeting of the AEA in the coming days to discuss the issue, which revolves around cheaper forms of financing available to airlines outside of Europe and the US, called export credit guarantees.
Last month Frattini announced a suspension of export credit guarantees for
Despite slashing export credit guarantees by 74 percent for companies doing business with Iran, German exports to the Islamic Republic continued to rise last year.
In its 2004 annual report on export guarantees, Berlin's Economics Ministry dedicated a special section to Iran that captures its giddy excitement about business with Tehran: "Federal Government export credit guarantees played a crucial role for German exports to Iran; the volume of coverage of Iranian buyers rose by a factor of almost 3.
But the resolution shied away from earlier proposals that it ban export credit guarantees for companies doing business with Iran, following difficulties raised by China and Russia, and, said one diplomat, Germany.
The gas was supplied by Washington and the response of the British government was to triple export credit guarantees (loans) to Saddam.

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