§ Mr. Rathboneasked the Secretary of State for Trade and Industry what guidelines the Government have produced to establish the length of time required for claims under the export credits guarantee procedures to be recognised on losses.
§ Mr. Kenneth BakerThe period of time before ECGD officially recognises a loss varies, according to the type of guarantee and to the cause of loss. The periods are specified in each guarantee document.
§ Mr. Rathboneasked the Secretary of State for Trade and Industry how many days, on average, the Government take to pay a claim under the export credits guarantee procedures after a loss is officially recognised.
§ Mr. Kenneth BakerECGD authorises payment of a claim immediately it is satisfied that it has become liable under the terms and conditions of its guarantee. Payment is normally made within three to four days of authorisation.