Enter to open, tab to navigate, enter to select
Export Credits Guarantee Department (ECGD)
Practical Law UK Glossary 5-386-0933 (Approx. 4 pages)
Glossary
Export Credits Guarantee Department (ECGD)
The United Kingdom's (UK) 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 sponsors, banks and buyers, and provides services such as:
- Insurance and reinsurance to UK exporters against non-payment by their overseas buyers.
- Guarantees for bank term loans to facilitate the provision of those loans to overseas buyers of goods and services from UK exporting companies. Goods typically exported are military equipment and aircraft.
- Political risk insurance to UK investors in overseas markets.
The ECGD is a government department whose statutory powers are set out in the Export and Investment Guarantees Act 1991 (as amended by the Industry and Exports (Financial Support) Act 2009). Since 10 November 2011 it has the operational name of UK Export Finance. The name, Export Credits Guarantee Department, continues to be used for all official documents. For more information on the ECGD, visit the ECGD website.