- export credit agency
export credit agency (ECA)International, United KingdomA private, governmental or quasi-governmental agency which provides support to promote the export of goods and services from the country in which the export credit agency (ECA) is based.The support can take the form of loans, guarantees or insurance, depending on the mandate the ECA has been given by its government:• Loans: The ECA provides a loan to the overseas purchaser of an export to enable the purchaser to finance the purchase.• Guarantees: The ECA provides a guarantee to the lenders financing the purchase of an export, guaranteeing repayment of their loan in certain circumstances. This guarantee lowers the risk of a transaction and allows lenders to enter into financings which might otherwise not be possible, due to credit or jurisdictional issues. Alternatively, the ECA may guarantee a loan made to an exporter in order to facilitate exports.• Insurance: The ECA provides insurance (and sometimes reinsurance) to exporters against non-payment by the overseas purchasers of their products. An ECA may also provide political risk insurance to companies based in its jurisdiction investing overseas.Examples of ECAs include the Export Credits Guarantee Department (ECGD) (UK), the Export-Import Bank of the United States (United States), Compagnie Francaise d'Assurance pour le Commerce Exterieur (COFACE) (France) and Euler Hermes Kreditversicherungs-AG (Germany).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
Export credit agency — Export credit agencies, known in trade finance as ECAs, are private or quasi governmental institutions that act as intermediaries between national governments and exporters to issue export financing. The financing can take the form of credits… … Wikipedia
Export Credit Agency — An agency established by a country to finance its nation s goods, investment, and services, often offers political risk insurance. Bloomberg Financial Dictionary … Financial and business terms
Export Credit Agency - ECA — A financial institution or agency that provides trade financing to domestic companies for their international acitivites. Export credit agencies (ECAs) provide financing services such as guarantees, loans and insurance to these companies in order … Investment dictionary
Belgian Export Credit Agency — ONDD Industry Insurance Founded 1921 Delcredere Committee, 1939 Nationale Delcrederedienst Office national du ducroire (ONDD) Headquarters Brussels, Belgium Key people Dirk Terweduwe (CEO), Frank Vanwingh (Deputy CEO), Nabil Jijakli (Secretary… … Wikipedia
Export Credit Guarantee — Guarantee from the UK Export Credit Agency. Bloomberg Financial Dictionary * * * export credit guarantee export credit guarantee ➔ guarantee2 * * * export credit guarantee UK US noun [C] COMMERCE, INSURANCE ► a type of insurance, often given by a … Financial and business terms
Export Credit Guarantee Corporation of India — The Export Credit Guarantee Corporation of India Limited (ECGC in short) is a company wholly owned by the Government of India. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.… … Wikipedia
Philippine Export-Import Credit Agency — The Philippine Export Import Credit Agency (PhilEXIM), also known as the Trade and Investment Development Corporation of the Philippines (TIDCORP), is a government financial institution attached to the Department of Finance. The Corporation was… … Wikipedia
Export Development Canada — (EDC) is Canada s export credit agency, and a Crown corporation that provides financing and risk management services to Canadian exporters and investors in up to 200 markets worldwide. EDC and the Canadian Commercial Corporation are the two Crown … Wikipedia
Export Credits Guarantee Department — (ECGD) United Kingdom The United Kingdom s (UK s) official export credit agency (ECA). It aims to help UK exporters of goods and services sell to overseas buyers and UK firms to invest overseas. To do this it works with exporters, project… … Law dictionary
Export-Import Bank of the United States — Infobox Government agency agency name = Export Import Bank of the United States seal width = 140px formed = February 2, 1934 headquarters = Washington, D.C. employees = 395 (2006) budget = chief1 name = James H. Lambright chief1 position =… … Wikipedia