Inter­national
cooperation

Public export credit agencies (ECAs) such as SERV cooperate internationally at various levels. They aim to develop universal principles and conditions for officially supported export credits, in order to avoid distortions in competition and enable private-sector providers to participate.

SERV supports these efforts and makes its voice heard in the Berne Union and in the OECD’s negotiations on the further development of the “OECD Arrangement”. SERV is also substantially involved in the debt rescheduling negotiations of the Paris Club and the subsequent implementation of the agreements.

Berne Union

The Berne Union is the leading global association of private and public ECAs. It advocates the harmonisation of and compliance with minimum standards in the insurance of export transactions and international investments. The Berne Union has established operational guidelines to achieve these objectives.

The operational guidelines for export transactions distinguish between credit periods of less than 24 months and credit periods of 24 months or more. The operational guidelines do not require minimum advance payments and interim payments for transactions with a credit period of less than 24 months. The maximum repayment term is based on the economic lifespan of the export goods. The starting point of credit (SPOC) is defined in accordance with the type of export goods and is therefore different for services, commodities, consumer goods and semi-finished goods.

The operational guidelines for credit periods of 24 months or more are based on the OECD Arrangement on Officially Supported Export Credits. In addition, the maximum credit period is based on the value of the export order (excluding interest).

Paris Club

The Paris Club is an association of 22 creditor nations plus other nations participating on an ad hoc basis. The representatives of the creditor nations meet with the representatives of the debtor countries in the Paris Club to agree upon minimum standards to be observed in the event of over-indebtedness (i.e. restructuring of granted export credits). By means of multilateral agreements, the members of the Paris Club ensure that creditors are treated equally when debts are rescheduled.

As a state export credit agency (ECA), SERV complies with international agreements concerning state export credit support, the principle aim of which is to avoid distortions to competition. The most important international organisations are the World Trade Organisation (WTO) and the Organisation for Economic Co-operation and Development (OECD). The WTO member states have undertaken not to subsidise exports. Support in the form  of state export credit insurance is not an export subsidy, insofar as the agreed minimum standards are adhered to. These are set out in the “Arrangement on Officially Supported Export Credits”, which is affiliated to the OECD.