(March 17, 2006) The Export Credits Guarantee Department (ECGD) offers UK exports insurance against non-payment.
Under the new rules firms or investors applying for support will have
to provide the identities of any agents involved in the awarding of a
The ECGD will also have greater powers to investigate suspected corruption.
At the same time, it will no longer require representations about the
actions of groups of companies not involved in the contract for which
ECGD support is being provided.
The changes come after two rounds of public consultation.
“The key concern has been to ensure that we reduce the risk of ECGD
supporting contracts tainted by corruption, and that we do so in a way
that is workable for exporters,” said UK Trade Minister Ian Pearson.
“ECGD’s revised procedures achieve this aim and will contribute to the
government’s wider aim to combat bribery and corruption in business.”
BBC News, March 17, 2006