Security for Payment of Credits Covered by ECAs

Zlatko Salcic

Chapter 17 in Export Credit Insurance and Guarantees, 2014, pp 152-159 from Palgrave Macmillan

Abstract: Abstract Exporters and banks frequently request security for payment of a credit when entering into commercial and loan contracts with foreign buyers. Foreign buyers also know the importance of security and are often willing to provide security for payment of their credits. In most export credit transactions, security is provided in the form of a non-possessory pledge over the asset purchased on credit terms, but it can come in other forms and in other assets owned by a foreign buyer. The reason behind taking security over the asset purchased on credit terms is that the creditor, who paid for the asset by providing the credit, should have a better right to the asset than other creditors of the foreign buyer. Third parties may provide security for payment of a foreign buyer’s credit, either by issuing a guarantee or by providing security in their own assets.

Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-36681-8_17

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137366818

DOI: 10.1057/9781137366818_17

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().