§ Mr. Madden
asked the Secretary of State for Trade if he will review facilities for Export Credits Guarantee Department support in respect of performance bonds for export contracts.
§ Mr. Shore
In the light of ECGD's experience to date I have decided that the guidelines I announced on 20th February for the Department's involvement with performance bonds should be relaxed. In future, therefore, ECGD will be willing to consider giving cover to support bonds for cash or near cash contracts where the contract has a minimum 541W value of £2 million. This will replace the existing minimum limit of £20 million.