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Export credit insurance, legal issues in international trade

Author: QiShuZuo
Tutor: SunNanShen
School: Fudan University
Course: International Law
Keywords: Export Credit Insurance Short term Medium and long-term Financing Country Risk
CLC: D922.284
Type: Master's thesis
Year: 2008
Downloads: 389
Quote: 2
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Abstract

Export credit insurance is an insurer to protect exports and export-related bank financing for the purpose of insurance. According to the insurance agreement, the insurer pays the insured economic losses suffered by importers due to commercial risks or country risk failure to reimburse the purchase price by about scheduled. Export credit insurance as Governments to encourage exports, reduce the risk of export proceeds and an important means of exporters financing difficulties, and played an important role in the practice. Export Credit Insurance distinguish important characteristics with other commercial insurance is one of the policy. Countries to provide export credit insurance agency policy subsidies tend to give these institutions to provide export credit insurance is often not for the purpose of profit. Under this premise, the export credit insurance risk two characteristics: first, export credit insurance company country risk to be covered, regardless of whether such underwriting economy. It has also become the fundamental differences between the export credit insurance and commercial insurance underwriting risks. Secondly, the export credit insurance for export of goods or services in foreign ingredients basically take the attitude of limited coverage, because of countries no obligation to be protected is not essential for the export of non-domestic products. It is worth noting that in the developed countries to carry out the earlier export credit insurance, export credit insurance policy in the short-term export credit insurance has been weakened, but the greater commercial development. Overall, the country's medium-and long-term export credit insurance is still inseparable from the support of the national policy. In many means to promote exports, safeguard receivables, export credit insurance has its own characteristics. Purposes of the legal relationship, for example, export credit guarantees and export factoring, export credit guarantees established in the guarantee relationship, the export factoring establish above the assignment of claims, and export credit insurance in insurance relationship. Although the functions of the above means are coincident, and sometimes will be provided by the same body, but, due to different legal relations, determines their different in many aspects. At the same time, the export credit insurance as a kind of insurance, despite its inevitable you want to have the basic characteristics of the general insurance relationship of, follow the Insurance Act, the common basic principle, but, export credit insurance also have some unique principle, for example, risk-sharing principle, buyer credit limits to apply the principles of , claims waiting period principle and system security principles reflect the different export credit insurance and general commercial insurance. Export credit insurance as a kind of insurance for exports, with a distinctive international character. Bern Association from the subject, the major export credit insurance agency, has 70 years of history, the main role is to promote the exchange of information between national export credit insurance institutions. Applicable law perspective, the OECD official export credit support action arrangements has been widely recognized in all countries, citing the organization and WTO Agreement on Subsidies and Countervailing Measures, is gradually to the export credit (including in the field of the development of international practice, including export credit insurance). The other hand, our country, our country's domestic law for the regulation of the export credit insurance is relatively missing, despite a series of administrative regulations shall be prescribed by the dominant position of the export credit insurance institutions and enjoy a series of preferential policies, export credit insurance legal relationship is almost is no legal basis for the state. This is where China's export credit insurance system need to be corrected.

Export credit insurance, legal issues in international trade

Abstract

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