Extension of the temporary relaxation of advance payment conditions
The OECD has extended the temporary relaxation of advance payment conditions by one year, until 4 November 2023. This means that public-sector buyers in countries not classified as high-income OECD countries will continue only to be required to make an advance payment of a mini-mum of 5% for state export credit support. This means that the maximum possible support from SERV in these cases is 95% of the export contract value.
Under the original rule, export credit support always required an advance payment of at least 15% of the export contract value.
The relaxation for public-sector buyers outside of high-income OECD countries came into force on 5 November 2021 and originally applied until 4 November 2022.
If you have any questions, please contact Sara Trüb, Assistant Vice President, Strategic Initiatives & Public Relations.