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ECGD PACKAGE FOR SMEs
 Last November, Richard Caborn, Minister for Trade, announced a new export credits
package for SMEs targeting markets outside Western Europe and North America. This included improved and streamlined versions of ECGD's existing products as well
as new features designed with SME exporters in mind:
- ECGD can now offer exporters competing for contracts under £10 million more generous rules relating to foreign goods by supporting a non-UK content of up
to 40%, thus allowing SMEs to put together more competitive tenders. (The previous maximum was 15-30% depending on the origin of the goods.)
- A SME looking to take on a larger-sized project may have difficulties in providing recourse support to ECGD (recourse for a smaller export of capital
goods would not normally be required). ECGD has therefore developed with Lloyds of London a Recourse Indemnity Policy which will provide compensation to ECGD where an
exporter has defaulted under his contract and the buyer defaulted on his loan.
- ECGD has also introduced a new fast track system for processing applications for support from
exporters with smaller contracts. From now on smaller exporters will benefit from streamlined procedures where the buyer is known to have a good track record.
ECGD is also joining forces with Trade Partners UK, the DTI's new Small Business Service, trade
associations and others to lead a campaign aimed at boosting awareness of current ECGD facilities. Thousands
of smaller exporters are being reached by a series of e-mailshots and regional seminars to enable information
exchange between ECGD and potential customers from this sector. This will help ECGD to assess whether anything more needs to be done for SMEs.
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For more details on the SME package,
contact: Paul Wills, ECGD, Tel: 020 7512 7402, or visit the Help for Smaller Exporters section on the ECGD Web site (see here).
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New Review is produced by ETSU on behalf of the DTI. Views expressed in the publication do not necessarily represent the views or policies of the Government or the views of ETSU. Neither the DTI or ETSU endorses any of the products or services featured in NEW REVIEW. Please address any correspondence to: Dr Barry Hague, Editor - NEW REVIEW, ETSU, Harwell, Didcot, Oxon, OX11 0QJ.
For more information about the DTI's Sustainable Energy Programmes, contact: Enquiries Bureau, ETSU, Harwell, Didcot, Oxon OX11 0QJ; Tel: 01235 432450, Fax: 01235 433066
E-mail: NRE-Enquires@aeat.co.uk.
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