MAY 2015 CORPORATE OVERVIEW Supporting the International Development Sector.
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Transcript of MAY 2015 CORPORATE OVERVIEW Supporting the International Development Sector.
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MAY 2015
CORPORATE OVERVIEW
Supporting the International Development Sector
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› About EDC
› Overview of EDC products and solutions
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OUTLINE
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› Canada’s Export Credit Agency
› Crown corporation
› Financially self-sustaining
› Operates on commercial principles
› Role is to support and develop Canada’s export trade and international business via financing and insurance solutions for Canadian exporters and investors
› Partnership preferred principle
ABOUT EDC
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EDC’S FOREIGN REPRESENTATION
North America $54.5B (55%)Asia-Pacific $17.9B (18%)
Europe $13.5B (14%)
South / Central America $8.4B (9%)Africa / Middle East $4.5B (5%)
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CONNECTING WITH CANADIAN BUSINESSES ACROSS CANADA
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› Facilitated $99.0 billion in business carried out by Canadian companies
› Served about 7,400 customers
› Supported business in 198 countries
› Facilitated $29 billion in emerging markets
› Contributed to 4% of GDP, supporting 719,200 jobs
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2014 PERFORMANCE HIGHLIGHTS
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FEBRUARY 2015
OVERVIEW OF EDC PRODUCTS
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› Protect against foreign buyer’s failure to pay
› Benefits
› Enter and expand into new markets
› Better access to bank working capital
› catastrophic loss protection
ACCOUNTS RECEIVABLE INSURANCE
edc.ca/insurance
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Line of Credit
Financial InstitutionForeign Buyer
Claim Payment
Exporter
Accounts Receivable
Goods orServices
Credit Insurance
Policy
Exporter
CREDIT INSURANCE
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› Coverage for various political risks
› Protects foreign assets such as cash in local bank accounts from certain political events
POLITICAL RISK INSURANCE
edc.ca/pri
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EDC PRI on Assets Policy
Canadian Company with Assets Located in a Foreign Country
(equipment, inventories, cash)
Loan (asset financing)
Financial Institution
Direction to Pay Policy Claim Proceeds at the request of the insured Canadian Company
POLITICAL RISK INSURANCE (PRI) FOR ASSETS
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FOREIGN BUYER FINANCING
› Guarantee to another financial institution in support of a loan to your foreign customer (transactions < $10 million)
› Direct financing to your foreign customer (transactions > $10 million)
edc.ca/financing
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› EDC provides Canadian banks with loan guarantees to finance costs related to foreign contracts
› Access to additional working capital
› fund up-front costs
EXPORT GUARANTEE PROGRAM
edc.ca/financing
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Exporter
Loan
Financial Institution
Guarantee
EXPORT GUARANTEE PROGRAM (EXPORT CONTRACT SPECIFIC)
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BONDING SERVICES
edc.ca/bonding
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› EDC provides a guarantee to your bank allowing it to issue Standby LCs or LGs to your customers
› Get access to bonds without tying up cash
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100% Guarantee
Foreign Financial Institution
Letter of Guarantee
Counter Guarantee
Contract
Foreign Buyer Financial Institution
PSG Indemnity Agreement
PERFORMANCE SECURITY GUARANTEE