The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:
The Export Credits Guarantee Department (ECGD) is the UK's official export credit agency. It operates under the name UK Export Finance.
Its purpose is to promote UK exports by preserving the competitiveness of UK exporters against overseas exporters that benefit from the support of their own export credit agency. ECGD provides support for UK exporters in the form of guarantees, insurance and direct lending.
Buyer credits and supplier credits make up a large proportion of the support provided by ECGD. Buyer credit facilities are used for the purchase of high value capital goods and/or services (typically with a value of over £5 million) such as aircraft. Supplier credit facilities are generally used for the purchase of goods and/or services with a lower value.
This practice note summarises the structure of a typical buyer credit facility offered by ECGD and its advantages and uses.
For information on ECGD's supplier credit facilities, see Practice Notes:
ECGD's supplier credit loan facility, and
ECGD's supplier credit bills and notes facility
For information on ECGD in general, see Practice Note: The Export Credits Guarantee Department—ECGD.
A typical buyer credit facility involves a guarantee granted by ECGD in favour of a bank where the bank has made a loan to an overseas buyer to finance the purchase of a UK export. The guarantee from
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