Section I: General provisions.

Guarantees relating to the risks mentioned in article L. 432-2 are granted by decision of the Minister for the Economy, taken after consultation with the Commission for Guarantees and Foreign Trade Credit mentioned in article L. 432-3, except in the cases provided for in the second paragraph of article R. 442-7-2. The body referred to in article L. 432-2 issues insurance policies covering the risks referred to in the same…

The guarantees referred to in I of Article 84 of the Amending Finance Act 2012-1510 of 29 December 2012 are issued to finance transactions carried out by public administrations or public or private sector companies. The Minister for the Economy, after consulting the Commission for Guarantees and Foreign Trade Credit, shall define the conditions for granting these guarantees, the procedures for implementing them and, where applicable, for transferring their benefit…

The representative of the Minister for the Economy referred to in article L. 432-4-1 is appointed by order of that Minister.

The representative of the Minister for the Economy referred to in Article L. 432-4-1 may object to the decisions of the Chief Executive Officer of the body referred to in Article L. 432-2 in the following cases: a) When they are likely to substantially modify the body’s relations with the State or with the beneficiaries mentioned in article L. 432-1 ; b) When they are likely to compromise the performance…

The representative of the Minister for the Economy shall ensure that the body has the necessary resources to carry out its mission.

The Managing Director of the body referred to in article L. 432-2 is appointed by order of the Minister for the Economy. He/she is appointed for a renewable term of 36 months.

Under no circumstances does the State guarantee cover risks which, pursuant to current legislation and taking into account current practices in the insurance market, may be covered by companies, groups or organisations of any kind authorised to carry on insurance business in France.

Applications for guarantees are sent to the body referred to in article L. 432-2 , which examines them and submits them to the Commission des garanties et du crédit au commerce extérieur (Guarantees and Foreign Trade Credit Commission); the Minister for the Economy, after consulting the Commission, grants or refuses the guarantee. After receiving the opinion of the Commission des garanties et du crédit au commerce extérieur, the Minister responsible…

The agreement referred to in article L. 432-4 specifies the conditions for implementing the mandate provided for in the same article, in particular those relating to the remuneration of the body referred to in article L. 432-2.