The risk exposure retained by the credit insurer co-signing the reinsurance treaty provided for in e of 1° of Article L. 432-2 is defined as follows: 1° When, in application of 1° of Article R. 442-8-10, the cover provided by the body referred to in Article L. 432-2 consists of a complementary insurance guarantee to a primary guarantee granted by the credit insurer, the exposure to risk retained by the…
Reinsurance by the organisation mentioned in Article L. 432-2 of credit insurance risks under the conditions referred to in Article R. 442-8-10 is subject to the signature by this organisation and the credit insurer: 1° A reinsurance treaty defining the terms and conditions for issuing and implementing guarantees covered by the State, as well as the terms and conditions for reinsuring these guarantees. This agreement is concluded for a period…
Within the meaning of the first paragraph of Article L. 432-1, the use of an entity governed by local law is deemed to be necessary where it is required by the legislation of the country of destination or is a determining factor in the selection of the offer.
The guarantee for political and transfer risks may cover investments abroad where these are of interest for the development of the French economy and have not yet been committed or have been committed in the twenty-four months preceding the request for a guarantee. Where the legislation of the foreign country does not provide for the issue of an authorisation, the investor must produce all documents issued by the competent local…
Political risk arises when the investor’s property rights or those attaching thereto, or the special rights and advantages granted to him by the authorities of the country in which the investment was made, are infringed as a result of one of the following causes: civil or foreign war, revolution, riots or other similar events occurring in the country in which the investment was made, or an act or decision of…
The transfer risk arises when political events, economic difficulties or the legislation of the country in which the investment was made prevent or delay transfers corresponding to the repatriation of this investment.
Cover for political, catastrophic and foreign exchange risks inherent in import transactions covers losses that the importer may incur on sums that it proves it has paid for the strict performance of its contract.
The political risk is realised 1° When the goods cannot be dispatched or cannot leave the country of dispatch or do not reach the country of destination as a result of one of the following incidents occurring in the country of dispatch or in transit: a) Export ban imposed by the authorities of the country of dispatch; b) Capture, arrest, seizure, requisition, coercion, molestation or detention by a foreign government…
Catastrophic risk occurs when, as a result of a cataclysmic event, such as a cyclone, flood, tidal wave, earthquake or volcanic eruption, occurring in the country of dispatch or in transit, the goods cannot be dispatched, are destroyed or damaged or are subject to additional costs that are not recoverable from the seller.
The foreign exchange risk arises when the exchange rate of the foreign currency covered by the purchase contract is higher on the day the foreign currency is purchased than the rate on the basis of which the guarantee is granted. This risk can only be guaranteed if there is no other way of hedging it under equivalent conditions.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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