On 5th July, the Secretary of State for Trade announced the introduction of arrangements which will enable certain export contracts concluded on supplier credit to be financed in foreign currency with the support of the Export Credits Guarantee Department (ECGD). The new arrangements represent an extension of the scheme announced in February 1977, relating to foreign currency financing of buyer credit transactions. This scheme and the rationale for its introduction were described in an article in the December 1977 Bulletin, page 451. The extension of this scheme to cover supplier credits is designed to help exporters who are selling capital goods and who find supplier credit more appropriate to their particular business, or who are selling to markets which prefer supplier credit.
Published on 01 September 1978
Other Quarterly Bulletin 1978 Q3 articles
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