Export Credit Agencies and export credit support
Produced in partnership with Dimitri Papaefstratiou, Joseph Lam and Wen Liu of DLA Piper (UK) LLP
Export Credit Agencies and export credit support

The following Banking & Finance guidance note Produced in partnership with Dimitri Papaefstratiou, Joseph Lam and Wen Liu of DLA Piper (UK) LLP provides comprehensive and up to date legal information covering:

  • Export Credit Agencies and export credit support
  • What purpose do ECAs serve?
  • How do ECAs serve their purpose?
  • What kinds of support do ECAs offer?
  • What are their advantages?
  • Governmental/quasi-governmental nature of ECAs
  • OECD Consensus or the Arrangement
  • ECA intercreditor arrangements
  • ECAs at home and abroad

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. This will have an impact on the information in this Practice Note about the Organisation for Economic Co-operation and Development (the OECD) generally and the OECD Arrangement on Officially Supported Export Credits. For details, see Practice Note: Brexit—impact on finance transactions—Key issues for trade finance.

Exporters who wish to take their goods or services to overseas markets will often face significant risks in their endeavours to generate new business. The likelihood of non-payment in these environments is heightened in the face of enhanced:

  1. commercial risk (ie failure to pay by an overseas buyer, overseas buyer's insolvency, unilateral breach