IPT04770 - Liability of insurance contracts: Export finance: Purpose of these exemptions
»Ê¹ÚÌåÓýapp exemptions relating to export finance related insurance were created to relieve all aspects of export financing where there is an underlying supply of goods or services from a UK supplier to a non-UK purchaser. »Ê¹ÚÌåÓýapp exemptions are specifically targeted at the three general categories of export finance described below. »Ê¹ÚÌåÓýapp exemptions may only be applied if all the relevant statutory conditions are met, as the exemption is not intended to relieve the financing of domestic transactions.
»Ê¹ÚÌåÓýapp exemptions cover:
- credit extended by a UK seller of goods or services to a non-UK buyer;
- exchange rate losses suffered by a UK exporter;
- businesses making loans or similar financial facilities available to an overseas purchaser so that they can import UK goods or services into their overseas business.