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How new French ECA Bpifrance will differ from Coface

After nearly 70 years as France's ECA Coface is set to transfer the handling of state export credit guarantees to French public investment bank, Bpifrance. The move will have a wider impact than merely a name change, and could even ensure cheaper pricing on French ECA deals. TXF caught up with HDA conseil's Henri D'Ambrieres to find out more.

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Comments (2)

  • William Laraque
    William Laraque, US-International Trade Services 1 February 2016

    Claims and how efficiently claims are administered is a central issue with regard to insurers and guarantors. The U.S. Ex-Im Bank has the reputation of paying claims in an average of 44 days. When private export insurers were inundated with claims after the 2008 financial crisis, paying in 44 days would have been an enviable achievement. Bpifrance provides a sovereign guarantee. A guarantee is unconditional whereas export insurance is subject to the terms and conditions of an insurance policy. In the U.S., very few would-be exporters are educated in these matters and as a result relatively few utilize either export guarantees or export credit insurance.

  • Topi Vesteri
    Topi Vesteri, Finnvera plc 1 February 2016

    Henri mentions the Finnish scheme. 100% state owned Finnvera Plc's guarantees are backed by the full faith and credit of the Republic of Finland. Our Export Credit Guarantee Act is very straight forward in this respect, Finnvera guarantee is a state obligation although administered by a state owned Plc.

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