CTHIn ForceAct
Export Finance and Insurance Corporation Act 1991
14Export payments insurance contracts
Start here
Get a plain-English read of 14
Turn the raw legal text into a practical explanation grounded in Export Finance and Insurance Corporation Act 1991.
#### 14 Export payments insurance contracts
(1) EFIC may enter into export payments insurance contracts with, or for the benefit of, persons carrying on business or other activities in Australia.
(2) An export payments insurance contract is a contract of insurance against risk of direct or indirect monetary loss or other detriment resulting from failure to receive payment in connection with, or otherwise arising out of, acts or transactions in the course of, or for the purposes of, Australian export trade.