Arrangement on Officially Supported Export Credits (OECD Consensus)
A part of measures for improvement of Company's activities was the introduction of new international rules effective under the Arrangement of Officially Supported Export Credits (so-called OECD Consensus) in 1999. They covered particularly fixing of minimum insurance premium rates for individual country risk categories and buyers in dependence on credit maturities. This was directly connected with:
- introduction of a uniform system in classification of countries into 7 risk categories in accordance with the rules applied in the OECD,
- introduction of a new methodology of the calculation of the insurance premium from the principal of the credit only,
- offer of a supplementary insurance of credit refinancing costs already for the basic insurance premium,
- possibility of a progressive payment of the insurance premium for large long-term credits, etc.
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