A SERV insurance commitment in principle (ICP) means that the insurance policy will be written as requested unless there are material changes in the circumstances or legal position (art. 7 SERV-V). Applicants can request an ICP before concluding the export transaction. ICPs are generally valid for six months.
Technical terms
The glossary contains precise explanations of key terms – from the Arrangement on Officially Supported Export Credits and del credere risk through to working capital insurance.
Use the alphabetically sorted list or the search function to search for specific terms.
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Insurance commitment in principle (ICP)