asked the Secretary of State for Trade and Industry what consideration has been given by his Department to the future of comprehensive bank guarantees as operated through the open account scheme of the Export Credits Guarantee Department.
The open account scheme operated by the Export Credits Guarantee Department is currently under review because it has been losing money and the demand for it has been falling. No decision on its future will be taken until the results of the review, to which all current users of the facilities and representative bodies have been invited to contribute, have been considered.
asked the Secretary of State for Trade and Industry how many exporting companies take advantage of the open account scheme on claims paid by the Export Credits Guarantee Department.
457 exporting companies are current users of the open account scheme operated by the Export Credits Guarantee Department.