Contents
Export Credits
Group on Export Credits and Credit Guarantees in relation with International Trade
In the context of trade organizations, Christopher Mark (1993) provided the following definition of Group on Export Credits and Credit Guarantees: A subgroup of the OECD Trade .Committee,comprising all OECD member countries, except Turkey, that participate in the Export Credits Arrangement (Sec. I).
Export Credits and the GATT Policy Negotiations
In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Export Credits: Deferred payment arrangements provided by exporters for goods or services sold internationally. Official export credits are deferred payment arrangements financed or underwritten by an exporter's government, and can have the same effect as an outright export subsidy. Export credits are generally divided into short term (less than two years), medium term (two to five years), and long-term (over five years) credits. They may take the form of “supplier credits” extended by the exporter, or “buyer credits,” in which the exporter's bank or other financial institution lends to the buyer. Export credit agencies may give official support to both supplier and buyer credits; such support may be limited to “pure cover” –insurance or guarantees given to exporters or lending institutions –or it may take the form of “financing support,” including direct credits, refinancing, and interest subsidies. All major industrialized countries are signatories to the OECD Export Credits Arrangement. SeeGroup on Export Credits and Credit Guarantees (Sec.I/l).
Arrangement on Guidelines for Officially Supported Export Credits and International Trade
Resources
See Also
Export Credits Arrangement
Related Entries of the International Encyclopedia:
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- Buyer Credits Buyer Credits and International Trade Resources See Also export credits...
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- Export Trading Company Act A 1982 act of Congress designed to promote American exports by modifying the application of antitrust laws and reducing restrictions on export financing on certain export transactions. The legislation is divided into four parts. Title I directs the Department of Commerce to encourage the formation o......
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- Export Control Compliance Export Control Compliance and the Laws of International Trade Management corporate policy statement Export Control Internal Compliance Programs Delegation of authority Product classification Screening denied/restricted parties Weapons proliferation screening Country [...]...
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