Title III: Special insurance bodies

A body is entrusted by the State with managing and issuing, under its supervision, on its behalf and in its name, the public guarantees for foreign trade provided for in Article L. 432-1.These guarantees may be granted:1° : a) For insurance against commercial, political, monetary and catastrophic risks, relating to transactions likely to contribute to the development of France’s foreign trade or of strategic interest to the French economy abroad;…

The State guarantee is granted by the Minister for Economic Affairs, after consulting the Commission for Guarantees and Foreign Trade Credit, established by article 15 of law no. 49-874 of 5 July 1949. The State guarantee may also be granted by the managing director of the body mentioned in the first paragraph of article L. 432-2 of this code, in the name and on behalf of the State. The latter,…

The body referred to in the first paragraph of Article L. 432-2 shall establish a separate accounting record for the transactions it carries out in the name and on behalf of the State pursuant to Articles L. 432-2, L. 432-5 and L. 432-6. An agreement between the State and the body mentioned in the first paragraph of article L. 432-2 specifies the objectives set by the State for the body,…

The Chairman of the body referred to in the first paragraph of article L. 432-2 delegates all of his powers of operational management of the aforementioned body to the General Manager of this body. The Chief Executive is appointed by the Minister responsible for the economy, after consultation with the Chairman of the aforementioned body, or, if necessary, dismissed. The Minister for the Economy appoints a representative to the body…

When the Finance Bill for the year is presented, the Government sends the standing finance committees of the National Assembly and the Senate a report on all the guarantees granted in the energy sector and the transactions carried out on behalf of the State by the body mentioned in the first paragraph of Article L. 432-2. This report includes a detailed list of operations that have benefited from the State…

The body referred to in the first paragraph of Article L. 432-2 also manages and issues, under the supervision of, on behalf of and in the name of the State, the guarantees provided for inArticle 84 of Act No. 2012-1510 of 29 December 2012 amending the Finance Act for 2012.

The body referred to in the first paragraph of article L. 432-2 also manages and issues, under the supervision of, on behalf of and in the name of the State, the guarantees provided for in article 119 of law no. 2005-1720 of 30 December 2005 on amending finance for 2005.