IPT04710 - Liability of insurance contracts: Export finance: Legal provisions
»Ê¹ÚÌåÓýapp Finance Act 1994, Schedule 7A paragraph 13(1) exempts a contract:
� if it relates only to credit granted in relation to goods or services supplied under a relevant contract by a person carrying on business in the United Kingdom.
»Ê¹ÚÌåÓýapp exemption is aimed at insurance taken out by UK based businesses to protect payments due to them for supplies to their overseas customers. »Ê¹ÚÌåÓýapp supply must be made under a relevant contract for the insurance to be exempt.