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Best Asian-Pacific ECA/DFI

23 July 2009

Acting as the reliable partner

Winner: KEIC Highly commended: JBIC Winning the Best Asian Export Credit Agency (ECA) award for the second year in row is Korea Export Insurance Corporation (KEIC), which was firmly ahead of Japan’s JBIC in the highly commended slot. This year we have also opened the category to incorporate Pacific territories – which we see as a natural extension of the Asian region – hence Asia-Pacific. Consequently, and commendably, coming into the frame in third place is Australia’s EFIC. For KEIC, the agency has consistently managed to develop its operational activities to assist...


Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.
8%
No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.
23%
No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.
23%
Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.
46%

Quote

A collateral manager may manage collateral well but it won’t tell you if someone’s about to go belly up.

Steven Pout, Agriservice - Brazil: Agri-sector bounces back - Trade Finance, July/August 2010