Document ID: chunk:federal_register_of_legislation:C2024C00824:section:17
Version: federal_register_of_legislation:C2024C00824
Segment Type: section
Provision Reference: s 17
Character Range: 33482–34592

17  Guarantees and subsidies in relation to loans to overseas buyers etc.
 (1) Where a person (in this section called the lender) has lent, or proposes to lend, other than in the form of an equity investment, money to a person for the purpose of financing, in whole or in part, the making of payments under:
 (a) an export contract; or
 (b) a contract for the sale of goods, or for the performance of works or services outside Australia, for the purpose of performing which a party to the contract has entered into an export contract;
EFIC may guarantee to the lender the repayment of the whole, or any part, of the money lent, or proposed to be lent, and the payment of the whole or a part of any interest or other charges that may become payable to the lender in respect of the money lent.
 (2) Where EFIC has given, or proposes to give, a guarantee to the lender, EFIC may enter into a contract with the lender under which, in consideration of the lender making or agreeing to make the loan, EFIC agrees to pay the lender, in specified circumstances, an amount ascertained in accordance with the contract.