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6. Covering risks taken by companies
The security of trade receivables owed by companies carrying out work abroad requires a minimum of guarantees to protect the exporter against political and commercial risks that could jeopardize the normal collection of sums owed.
In France, the risk of insolvency of foreign buyers is likely to be insured by a particular insurance company authorized to insure against ordinary risks in France.
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On the other hand, political risks, which can be of considerable magnitude, have remained outside their remit since the French government set up the Compagnie française d'assurance pour le commerce extérieur (Coface) in 1946 to provide a public export credit insurance service, with the aim of guaranteeing the successful completion of the country's foreign trade operations.
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Directives Passation des Marchés Financés par les Prêts de la BIRD et les Crédits de l'AID, World Bank, January 2011 (World Bank website).
Procurement policy and rules for projects financed by the European Bank for Reconstruction and Development, revised May 2010 (EBRD website).
Cotonou Agreement of June 23, 2000 (Official Journal of the European Communities No. L 317 of 15.12.2000)....
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