58/1995 Coll.
LAW
of 14 July 1999. March 1995
about insurance and financing export with State support and complement the
Act No. 166/1993 Coll. on the Supreme Audit Office, as amended by
amended
Change: 60/1998 Coll.
Change: 188/1999 Coll.
Change: 282/2002 Sb.
Change: 377/2005 Sb.
Modified: 23/2006 Sb.
Change: 293/2009 Sb.
Change: 230/Sb.
Change: 220/2015 Sb.
Change: 220/2015 Coll. (part)
Parliament has passed the following Act of the United States:
PART THE FIRST
INSURANCE AND FUNDING EXPORT WITH STATE SUPPORT
§ 1
the title launched
(1) this Act regulates in accordance with the law of the European Communities ^ 1)
and obligations arising from the Czech Republic's membership in the world trade
Organization of the ^ 1) State aid granted in the form of export insurance
export credit risks, supported by financing and calling
interest-rate differences.
(2) the insurance of export credit risks for the purposes of this Act,
the activities carried out by the export guarantee and insurance company
a. s., (hereinafter referred to as the "export insurance company"), which are related to the export and
are performed on the basis of authorisation granted by the Czech National Bank
According to § 3a,
and) short-term export credit insurance against non-payment resulting
from political or combined political and market
unsecured commercial risks,
(b) long-term export credit) insurance and loans for investment against
non-payment resulting from political or combined political
and non-marketable commercial risks, or as a result of non-payment
non-marketable commercial risks,
(c)) insurance investments abroad against political risks,
mainly against the risk of preventing the transfer of the proceeds of the investment,
expropriation or politically motivated violent damage,
d) insurance against losses for exporters and investors associated with the preparation and
the realization of commercial activities,
e) credit insurance provided by the manufacturer or exporter for financing
production intended for export against the risk of default of the loan as a result of
the inability of the manufacturer or exporter to meet the conditions of the Treaty of
f) insurance of bank guarantees or other services provided by the Bank
the foreign exporter to a person in the exporter against the risk of non-compliance with contractual
the obligations of the contract of exportation, the exporter,
g) risk insurance of the Czech Crown exchange rate losses against foreign currencies arising from
in the case of claims due to the difference in exchange rate applied when
conclusion of the insurance contract and the rate applicable in the payment of insurance premiums
the performance,
h) hedging activities of risk-taking from coverage under the
letters and), b) and (f)) of contracted foreign credit insurance companies,
I) reinsurance business in respect of credit insurance in relation to the insurance
exports against a market-nezajistitelným territorial and market
nezajistitelným commercial risks
j) insurance and reinsurance loans to SMEs with permanent
residents or established in the territory of the Czech Republic.
(3) for the purposes of financing backed by this Act, the
short-term and long-term financing and the granting of export credits,
loans to finance production for exports, investments and loans
project financing and short-term and long-term financial
services related to export under the terms of this Act in the form of
the refinancing loan)
1. the Bank and the Bank of the importer exporter export financing,
2. the exporter's Bank and Bank to finance the production of producers for export,
3. Bank investor in the financing of investment,
4. the exporter's Bank on project financing,
(b) direct loan)
1. exporters, foreign companies or foreign person to finance
exports,
2. exporters and producers to finance the production for export,
3. an investor to finance the investment,
4. exporters on project financing,
5. non-banking companies on the purchase of receivables related to the exporter
export,
(c)) to export-related financial services, which include primarily
1. bank guarantee
2. the opening of letters of credit and payment systems and clearing,
3. the reinsurance operations,
4. the financing of local costs in the country of residence or permanent residence
the importer.
(4) Dorovnáváním interest differences for the purposes of this Act, the
calling the difference between the agreed interest fixed interest rates for
export credits granted by the Bank in accordance with the law
Of the European communities and the international rules governing State
supported export credits (hereinafter referred to as "international rules")
a maturity of at least two years and interest laid down on the basis of the six-month
interest rates for the currency of IBOR, in which is provided with an export credit
published by Reuters two working days before the beginning of the period for
that is done to call, plus the Bank margin system
the exporter. The amount of the margin of the Bank shall lay down the system of the exporter, the Ministry of
Finance Decree.
§ 2
Definition of terms
For the purposes of this Act, means the
For the purposes of this Act, means the
and the investor's Bank, Bank) branch of the Bank or financial institution referred to in
directly applicable European Union legislation ^ 15) regardless of its registered office
or place of registration, subject to an authorisation scheme unless the home State
and oversight by the supervisory authority, which provides the investor or
foreign person credit for investment,
(b) the manufacturer's Bank, Bank) branch of the Bank or financial institution referred to in
directly applicable European Union legislation ^ 15) regardless of its registered office
or place of registration, subject to an authorisation scheme unless the home State
and oversight by the supervisory authority, which provides producers credit
associated with the production of goods or the provision of services for
the subsequent export,
(c) the exporter's Bank, Bank) branch of the Bank or financial institution referred to in
directly applicable European Union legislation ^ 15) regardless of its registered office
or place of registration, subject to an authorisation scheme unless the home State
and oversight by the supervisory authority, which provides to the exporter or
foreign person loan related to exports,
(d) supply a loan grant) interval between completing the
the obligation of the exporter and the importer to pay the exporter obligations for the implementation of
provided by the importer exporter export according to the Treaty,
e) importer foreign person who carries out the importation from the United
Republic,
(f) financing production for export) the financing of the development or production of the goods and
services prior to their export,
g) financial services related to export activities carried out
Czech Export Bank, a. s., (hereinafter referred to as the "Export Bank") on the basis of
banking licence pursuant to a special Act, ^ 1b) that are related to
export,
h) financial markets domestic and foreign money and capital markets,
I) financial resources financial resources obtained primarily by issuing
bonds, the sale of bonds, or on the basis of credit agreements,
(j)) value of export price agreed in the contract of
to investment funds) or other valuable money values
or property rights for a period spent at least three years legal
by a person established in the territory of the Czech Republic, which is an entrepreneur, according to
of the civil code, or foreign companies, for the purpose of establishing,
acquisition or increase of holding in a legal person located outside the territory
The United States, or for the purpose of extending the business of the legal
of the person,
l) Investor, the person who has undertaken the investment, either a legal
person established on the territory of the Czech Republic, which is an entrepreneur, according to
of the civil code, or a foreign company
m) capital markets and foreign markets with a maturity
provided by the financial resources of more than one year,
n) commercial risk the risk of non-payment of receivables from export credit
foreign private borrower because of its payment
the inability or refusal of payment,
the cost of spending on local) services and goods which are to be made
in the country of final destination of exports in accordance with the Treaty or
an agreement between the importer and the foreign person, either for exportation
or for the completion of the project or work, on which the exporter involved in the
connection with the Treaty on exports, and that will not be funded under the
more favourable conditions than are the conditions under which will be financed by the
export credit
p) loan loan provided by the customer on the financing of the Treaty on
exports, according to the credit agreement concluded between the Bank, a branch of the Bank or the
financial institutions ^ 1b) regardless of its registered office or place of registration
subject to an authorisation scheme unless the home State and the supervision of the home
supervisory authority, as a lender and a borrower whose pumping is
provided by the exporter or the debtor,
r) other operations related to the acquisition of financial operations
resources to secure the liquidity of banks, including hedge
operations,
with the commitment of the insurance sum of values) of insured export
credit risks from insurance contracts concluded in the nominal amount, including
interest and charges, and terms of the reinsurance business, decreased by
the value of risk that has already disappeared, and the values of the contracts for the promise of insurance
in the amount of 50% of their nominal value,
t) project financing, a loan that is repaid and revenue
revenue from the activity of foreign persons established for the purpose of realization of
the project,
for direct loan) loan provided by the Bank, the exporter's export manufacturers,
investor or foreign person,
in re-financing loan) loan provided by the Bank's export Bank, the manufacturer,
the Bank, the exporter or Bank Investor
w) a contract for the export of the contract between the exporter and the importer concerning the export
goods or services, or the export of goods and services,
x the risk of non-payment risk through the territorial) receivables from export
the loan due to extraordinary and incidents in the country in which it is
delivered, or in the country from which the payment of the claim is to be made, or
in a third country, such as the payment of public disapproval of the debtor,
decision of the third country, the prohibition of payments (the moratorium), impossibility or
the delay of the transfer of funds, the decision of the authorities in the country of
of the debtor, the decision of the authorities in the country of the insurer or the insured person and
the circumstances constituting force majeure,
s) market nezajistitelnými commercial risks commercial risks, which
the private market cannot be guaranteed commercial credit protection for
common conditions in international markets,
of the person in charge of a public debtor) the exercise of State authority or
public administration, that cannot be legally declared unable to meet their
liabilities, other persons are considered as private borrowers,
AA) by the manufacturer, the person who produced the goods or provides the services intended for
the subsequent export, either a natural person residing in the territory of the United
the Republic or a legal person established in the territory of the Czech Republic, and
that is an entrepreneur under the civil code, or foreign
the company,
BB) the exporter exports the person takes place, either a natural person
permanent residency on the territory of the Czech Republic or a legal person with its headquarters
on the territory of the United States, and that is an entrepreneur under the civil
code, or a foreign company
CC) the export of goods or the provision of services or the supply of goods and
the provision of services to the importer according to the contract concerning the export for use outside
the territory of the Czech Republic,
DD) export credit supplier credit and consumer loan,
EE) a foreign person means a natural person who does not have permanent residence in the territory of
The United States, or a legal person who is not established in the territory of the United
Republic,
FF) foreign credit insurance company foreign person who provides
credit insurance with the support of the Member State of the Organisation for economic
cooperation and development,
Gg) securing the operations of the operation towards the limitation of in particular
currency, interest rate and other risks,
HH) bank guarantee guarantee issued by a bank or savings and úvěrním
the cooperative,
(ii) foreign companies) legal person established abroad,
the legal person established on the territory of the Czech Republic, which is
Entrepreneur under the civil code, is controlled by the basic
the company's capital directly or indirectly in from more than 50% or
controls an absolute majority of the voting rights connected with the participation in the
the registered capital of the company or may appoint a majority of the members
the Board of Directors, the Supervisory Board or the management board or other similar
the management body of the company,
JJ) loan on an investment loan for the acquisition of an investment or a loan on the business
foreign companies provided by the investor's Bank,
KK) Bank of the importer of the foreign bank or other foreign entity that
provides importers related to the contract for the loan of export,
LL) non-bank companies financial institutions referred to in article. 4 (4). 1 point
26 European Parliament and Council Regulation (EC) no 575/2013 from 26 March.
June 2013 on prudential requirements for credit institutions and
investment firms and amending Regulation (EC) No 648/2012, which purchases
payable in the future, exporters to export-related.
§ 2a
Provisions of this Act relating to the bank for savings and credit
the cooperative shall apply mutatis mutandis.
§ 3
Conditions of insurance of export credit risks and provision of official
the financing of the
(1) when insuring export credit risks and endorsed
the financing aspect of the risk shall be assessed by an export credit with
regard to ability to pay foreign persons in the position of the debtor and the
the country from which payment is to be made or claims to which it has
aim investments; for granted loans and bank guarantees,
assessing the risk of return, in particular the aspect of the ability to pay
the debtor and the ability of exporters to meet the terms of the contract.
(2) the provision of official financing is under section 8 (2). 5 subject to
by taking out reinsurance, unless agreed upon insurance of export credit
risks insurable export insurance fund pursuant to § 1 (1). 2.
section 3a
The granting of authorisations
(1) for granting an authorization to export credit insurance and reinsurance
risks, which the Czech National Bank on the basis of the request, the
the provisions of the law governing the insurance industry concerning the granting
authorisation to engage in insurance and reinsurance, domestic
the insurance undertaking or in the reinsurance undertaking shall apply mutatis mutandis to domestic, unless otherwise specified in this
the law provides otherwise.
(2) the application for authorisation referred to in paragraph 1 shall decide, Czech National Bank
within 6 months from the date of its delivery.
(3) the authorisation referred to in paragraph 1 cannot be granted to engage in insurance and
reinsurance activities other than that which is the insurance and
export credit risks under this Act.
§ 4
Insurance of export credit risks
(1) the operation of insurance of export credit risks shall be entrusted
export insurance company. As a condition for the operation of insurance of export
credit risks is that the sole shareholder is the State of export insurance,
that their shareholder rights carried out through ministries.
Unless this Act provides otherwise, be subject to the export insurance company
the provisions of the law governing the insurance industry concerning the operation of the
non-life insurance and reinsurance and the Czech National Bank supervision over
This activity; export insurance company, for the purposes of supervision in accordance with law
governing the activities of the Czech National Bank considers it an insurance undertaking.
The statutes of the export insurance companies must include in addition to requirements
laid down in the law on prohibition of commercial corporations grant
employees to consent to the commercial or other form of gainful employment
identical to the export business of the insurance company.
(2) Export insurance company may not constitute legal entities, or acquire
interests in legal entities, with the exception of
and export Bank),
(b) the acquisition of shares in legal) person who is the debtor, for
necessary to ensure the enforceability of claims against the debtor,
(c)), which the legal person is engaged in the business of insurance and
reinsurance activities in the sector of credit insurance and related activities
insurance or reinsurance activities, according to the law governing
the insurance industry, with the exception of insurance pursuant to this Act; to the establishment of
such legal persons should be the prior consent of the Ministry of
finances. On the legal person not covered by the State export support
under this Act.
(3) funds for insuring export credit risks are made up of
allocation of profit distribution, export insurance and subsidies from the State
the budget designated for the creation of these funds. Subsidies from the State budget
they are granted depending on the development of insurance commitment and
become a permanent part of these funds. The reserves are formed in
accordance with the specific laws and regulations governing the creation of reserves for
for the purposes of insurance and the findings of the corporate tax base, 5a) and ^ ^
equalisation reserve for the insurance of export credit risks pursuant to § 1
paragraph. 2 export insurance company separately. With these funds and reserves
they farm export insurance company separately from other reserves and funds.
(4) the insurance of export credit risks in export insurance company
the Ministry of Finance shall submit for the approval of basic economic
parameters of the newly introduced types of insurance of export
the credit risks, in particular, their business plan; in doing so secures the
rational use of subsidies from the State budget and State guarantees.
(5) Export insurance company may not take to the export credit insurance
risks in excess of its insurance capacity. Insurance capacity is
means the upper limit of the insurance commitment from closed contracts
and the promise of insurance contracts, which, for the period up to the end of the
the calendar year can export insurance company contractually bind. In the State
the budget for a given year shall be the amount of the premium export capacity
insurance companies and also the amount of the subsidy from the resources of the State budget for
supplement insurance funds. The method for calculating the capacity premiums down
The Ministry of finance law, taking as a basis of the summary
values of export credit risks contained in the applicable and the
insurance contracts and the promise of insurance contracts, the anticipated
supplement insurance funds from profit distribution, from a change in technical provisions
export insurance and to the allocation of applicable and insurance
contracts and contracts for the promise of insurance according to the degree of risk.
(6) the export insurance can insure the individual export credit risks
up to 20% of the capacity established for the year in which it is to this
the risk of an insurance coverage arranged. With the approval of the Minister of finance and the Minister of
industry and trade is entitled to insure the individual export insurance company
the export credit risk of up to 40% of insurance capacity. Individual
credit risks in excess of 40% of the premiums can export capacity
the insurance company to insure, with the consent of the Government.
(7) the Ministry of Finance shall lay down by law or regulation method of creating funds
referred to in paragraph 3, the ratio between the amount of reserves and the Fund referred to in
paragraph 3, and the volume of premiums written commitment and share of export insurance
insurance with the use of these reserves and funds. For insurance
cases with exceptionally high revenues down, the Ministry of
Finance legislation, notwithstanding the determination of the ratio referred to in the
the first sentence, the ratio between the amount of reserves and funds referred to in paragraph 3 and
the volume of premiums written commitment and share of export insurance premiums
performance with the use of these reserves and funds. Exceptionally high premiums
the risk for the purposes of this Act, a normally non-insurable insurance
risk ^ 5b) resulting from the territorial and the combined commercial and
territorial risks and the risk of default of the loan as a result of the inability of the
the manufacturer or exporter to fulfill the terms of the contract concerning the export, which is
the economic interest of the State to its fulfilment.
(8) the export insurance company serves once a year, the Chamber of Deputies
information on insuring export credit risks. This information
contains, in particular,
and data on export insurance company), primarily on the amount of its basic
capital, changes in the composition of the ministries, which undertake the shareholder
rights of the State, changes in the composition of the Board and of the Supervisory Board, and further
balance of export insurance company,
(b) the operation of insurance) the data on export credit risks, in particular
analysis of this insurance, including territorial and sectoral structure,
the use of the funds of the State budget, further details of the relationship between demand
After this insurance and insurance capacity, as well as export insurance
details of the expected development of this insurance.
Section 4a
The conditions of the export activities of the insurance undertaking
(1) Export insurance company may engage in insurance and reinsurance
activities only to the extent of authorisation granted by the Czech National Bank
under section 3a.
(2) the activities of export insurance shall not apply the provisions of the Act
governing the insurance industry concerning the
and assessment of persons with the participation) on export insurance company and their changes
(b) assessment of origin and sources) assets or other financial resources
export insurance company,
(c) the insured risk insurance in) non-life insurance in excess of the
authorisation granted,
(d) the establishment of a branch in the territory of) another Member State or in the territory of another
the Member State and the freedom to temporarily provide services.
(3) the Insufficiency of capital applicable to the performance of the solvency
the capital requirement shall be replaced by the State guarantee for the obligations of the export
the insurance company. The amount of funds under the law governing
insurance of export insurance companies must allow the permanent fulfilment of its
the amount of commitments must not fall below 30% of the value
the solvency capital requirement; the minimum capital requirement
under the law governing the insurance industry does not exceed 30%
the solvency capital requirement the export insurance company.
§ 4b
Performance supervision
(1) the subject of the Czech National Bank supervision over the activities of export
the insurance company is compliance with the conditions of an authorisation granted in accordance with § 3a and
the conditions laid down for the operation of insurance and reinsurance
in the law governing the insurance industry and other legislation
the scale referred to in paragraph 3, section 4, paragraph 4. 1 and Section 4a.
(2) in the exercise of supervision over the activities of the Czech export insurance
National Bank governed by applicable provisions of the law governing
the insurance industry concerning the supervision of domestic insurance companies and
domestic reinsurance undertakings, unless otherwise provided by this Act.
(3) the provisions of the law governing the insurance industry concerning the introduction of
receivership, transfer portfolio or part transfer
reinsurance contracts or any part thereof, the withdrawal of domestic
insurance and reinsurance undertaking domestic transformation of domestic insurance undertaking or
domestic reinsurance and co-insurance provisions within the Member States
the export activity of the insurance undertaking shall not apply.
§ 4 c
The exclusion of the scope of the Act on the financial conglomerates directive
The activities of export insurance companies not covered by the law governing the supplementary
the supervision of banks, spořitelními and úvěrními associations, insurance companies and
traders in securities in the financial conglomerates directive.
§ 5
Requirements for claims on insurance of export credit risks
(1) an application for the insurance of export credit risks associated with the
each exporter shall present the export, the manufacturer, the investor, the Bank
manufacturer, exporter's export Bank or Bank (hereinafter referred to as "the applicant")
export insurance company.
(2) in the application for insurance of export credit risks the applicant is obliged to
include at least
and its identification data) ^ 6)
(b)) the amount of their net assets and the structure of their members,
(c)) and a volume of characteristics, the expected ratio values
exports, which will be created in the Czech Republic, the estimated range of
an export credit, payment terms and time drawing and layout
the repayment of the loan and the range provided a bank guarantee or other
banking services provided in connection with the exportation,
(d) particulars of the foreign person), which is the export credit provided, in particular,
^ 6) identification data and data on the economic situation and the payment
morality,
(e)) for more information listed in the insurance terms and conditions of export insurance company.
(3) on the basis of the submitted application for the insurance of export credit risks
export insurance company can conclude an insurance contract with the applicant, ^ 7) and
If no export contract has not yet negotiated a contract of pledge
insurance. ^ 8)
(4) for the insurance of export credit risks is not a legal right.
§ 6
Supported by funding
(1) the provision of official financing is authorised to export Bank.
As a condition for the operation of the subsidized financing is that the shares of export
the banks are at least two-thirds owned by the State. A State exercises
their shareholder rights through the competent ministries. If
unless otherwise provided in this Act, subject to the provisions of the export Bank
the special laws governing banking ^ 9). The statutes of the export Bank
must contain in addition to the requirements laid down in the commercial code
and) the provisions on the profit upon the use for replenishment of funds to
the security activities of the export Bank,
(b) the prohibition to grant employees) consent to the commercial or other form
work the same with the business activities of the export Bank.
(2) export Bank has supported by funding under section 1 (1). 3 and
performs related activities in accordance with the banking license issued in accordance with
Special Act. ^ 1b) export Bank has supported the financing of the
under the conditions of normal on the international markets for officially supported
export credits and export-related financial services. ^ 8a) resources
for supported funding gets the export Bank primarily on
financial markets. The costs associated with the operation of the subsidized
funding is paid by the export Bank primarily from a portion of the interest income,
It will remain available in the amount equal to the fixed costs in the
the amount of 100 basis points of the interest rate used in the provision of
the subsidized financing.
(3) export Bank may not have an interest in legal entities, with the exception of
and) legal entities whose main activity is the provision and transfer of
interbank payments and transfer of the interchange of information,
(b)) shares in the persons who export Bank gets and holds
not more than one year after their acquisition in connection with the application of
reinsurance in accordance with § 8 para. 5,
(c)) legal persons for a specified period for the purpose of the security
the provision of official financing and obtaining financial resources, where is the
or to be export Bank in time of the acquisition of the majority
Companion; to the acquisition of a share in such a legal entity must be
the prior approval of the Ministry of finance.
(4) to offset losses resulting from the operation of the export Bank
supported by funding grants are provided from the State budget.
The losses are made up of differences between the posted interest income when
the provision of long-term financing, supported ^ 8a) reduced the
interest income under paragraph 2, interest revenue for temporary use
the financial resources which are supported by funding and posted interest
the cost of obtaining resources, fees in writing agreed between the lender and
Export Bank, United in raising the financial resources
the cost of the creation of reserves and adjustments under the special law
the rules governing the creation of reserves and adjustments for banks
the differences between income from operations with financial derivatives and costs associated
with these operations, the differences in exchange rates and other costs, which
Export Bank were demonstrably incurred in obtaining the financial
sources. A request for a subsidy to cover the loss presents export
Bank to the Treasury Department. The method and procedure for the submission of applications for
the provision of subsidies to cover the loss and the method of payment of the subsidy
the Ministry of Finance shall lay down by Decree.
(5) the Ministry of Finance performs a check of the correctness of the determination of the amount of the
the required export subsidy by the Bank to cover its losses resulting
from the operation of the subsidized financing. For the purpose of implementation of this
Export Bank is obliged to control at the request of the Ministry of finance
provide information and documents relating to a specific business
cases, including data relating to provisioning, and to
operations in the financial market, where appropriate, to allow the Ministry of finance
access to such documents stored in electronic form only,
as well as provide the Ministry of finance in the implementation of the checks
the necessary cooperation. The person conducting the inspection shall be required to
keep confidential all facts which are in
connection with the performance of audit activities Act.
(6) if the export Bank, exceptionally, exceeds the limits of the credit
commitment provided for under special laws governing
banking ^ 9) and shall notify without delay the Czech national
the Bank, the Czech National Bank may, where justified, provide
Export Bank a deadline to comply with these limits.
(7) when it endorsed the financing of export proceeds by Bank
General terms and conditions. Where the provision of refinancing
loans, the general terms and conditions also include the maximum
the amount of the interest margin of banks who are refinancing loans granted to
interest costs for refinancing loans and who have obtained loans from the
Export Bank.
(8) the export Bank serves once a year, the House of Commons information
endorsed the funding. This information includes, in particular,
and export data bank), primarily on the amount of its capital,
changes in the composition of the ministries, which undertake shareholder rights
State changes in the composition of the Board and of the Supervisory Board, and the balance of
Export Bank,
(b) the details of the operation supported) funding, in particular the analysis of this
financing, including territorial and sectoral structure, use of resources
the State budget, further details of the relationship between the demand for endorsed
financing and export Bank to satisfy this demand as well as the
details of the expected development of the subsidized financing.
(9) the application of the exceptions referred to in paragraph 3 is without prejudice to the provisions of
a special law on the restriction of banks in the acquisition and possession of shares in
^ 1b legal entities.)
§ 7
Requirements for an application supported by funding
(1) an application for funding, supported by associated with individual export,
the applicant shall present an export Bank. Applicants for funding, supported by
the Bank, the exporter may be only, Bank, Bank, investor, producer
a foreign person, the exporter, the investor or manufacturer.
(2) in the application for funding, supported by the applicant is obliged to provide
and) elements listed in § 5 para. 2 (a). a) to (d)),
(b)) the particulars referred to in the terms and conditions of export
the Bank,
(c)) ^ 6) identification data of the Bank, a bank investor or exporter about the Bank
the manufacturer, unless the applicant for which are supported by funding, which is to be
supported by funding provided.
(3) an applicant for a supported by financing, which is to be this funding
granted, the Bank is obliged to provide data on its export base
capital, on its balance sheet, and other data relevant to the assessment of its
the ability to secure a return on a project supported by funding provided.
(4) on the basis of the submitted application for funding can export supported
the Bank shall conclude a contract for the provision of the loan, the contract for the provision of other
financial services related to exports or a contract on the promise of a loan
or the treaty promise of provision of financial services related to the
^ 8).
(5) on the financing of the legal claim is not supported.
Call for interest differences
Section 7a
Inclusion in the system
(1) the request for the inclusion of an export credit to the system call of interest
differences associated with this export loan, the Bank shall submit to the exporter to
the decision of the Ministry of finance through export insurance company. In
request for the inclusion of an export credit to the system call of interest
the differences, the Bank is required to include the exporter
and the Bank's) identification of the exporter, the exporter, the importer and the importer's Bank,
If the beneficiary of the credit Bank of the importer; identification data means for
legal person, company or business name, identification number, if
granted, the subject of business (work), legal form and registered office and
natural persons first and last name, identification number, if assigned,
business activity (activities), place of residence and place of business
(b)) the subject and value of export and the country of final destination,
(c)) the amount of export credit, time the layout of its drawdown and repayment and whether
is the recipient of the loan, the importer, the importer or the exporter's Bank,
(d)), by which the interest premium interest rate agreed in the contract of
export credit exceeds the fixed reference interest rate floating
each month the Organization for economic cooperation and development at the day
signing of the agreement on export credit, or in force at the time of fixation of the interest
the rates of bank credit, the exporter and the consignee within a period of 120 days ago
signing the contract of export credit and plus 0.20% a year,
e) a statement that the export credit will be in accordance with international rules.
(2) requests for the inclusion of an export credit to the system call
the Bank shall submit to the exporter interest differences in the annex to the original or
certified copy of
and that the Declaration of the exporter) comply with and be bound by the Convention on the fight
against bribery of foreign public officials in international
business transactions,
(b)) Declaration by the exporter that does not appear on publicly accessible lists
the exclusion led a group of the World Bank, the European Bank for
reconstruction and development, Asian Development Bank, the African Development Bank and the
The Inter-American Development Bank,
(c) a declaration by the exporter's Bank) that comply with and will comply with the Convention on the
the fight against bribery of foreign public officials in international
business transactions,
(d) a declaration by the exporter's Bank) that is not listed on the publicly accessible
exclusion lists kept by the Group of the World Bank, the European Bank
for reconstruction and development, Asian Development Bank, the African Development Bank and the
The Inter-American Development Bank,
e) documents proving the identifying information pursuant to paragraph 1. and)
and
f) indicative menus and declaration by the exporter that the indicative
the offer met; the indicative offer is understood to offer banks the exporter
addressed to the exporter, the importer or the importer's bank containing at least
the subject and the value of export and the country of final destination, the level of export credit
its form and the time the layout of its drawdown and repayment and the amount of interest
mark-up pursuant to paragraph 1. (d)).
(3) the annexes to the application for inclusion of an export credit to the system call
interest-rate differences must be in Czech or English language or must be
together with the annexes submitted their certified translation into Czech
of the language. The documents referred to in paragraph 2 (a). a) to (d)) and the documents proving the
identifying data of persons established abroad referred to in paragraph 1 (b).
and the Bank, the exporter may submit) to together with the contract of export
credit; about the Bank, the exporter is obliged to inform the Ministry of finance in the
request for the inclusion of an export credit to the system call of interest
the differences.
(4) the export insurance company after checking forward the request
The Ministry of Finance within 15 days from its receipt along with your
the opinion to fulfil the requirements of paragraphs 1 to 3 and the conditions laid down
international rules and to the inclusion of an export credit into the system
call for interest differences. Export insurance company or the Ministry of
finance through export insurance company may invite pot exporter to the
supplement the incomplete applications, with the exception of the Declaration referred to in paragraph 2 (a).
a) to (d)) and the documents proving the identification details of the people based in
abroad referred to in paragraph 1 (b). and).
(5) the Ministry of finance will decide on the request within 30 days of referral to the
applications meeting the requirements of paragraphs 1 to 3 of the export insurance company. On
the inclusion of an export credit to the system call of interest differences
a legal claim. The decision to include an export credit into the system
calling the interest of differences becomes effective upon delivery of originals or
officially certified copies of the Treaty, the Treaty on export credit insurance
an export credit, the Declaration referred to in paragraph 2 (a). a) to (d)) and documents
proving the identification information of persons established in foreign countries according to the
paragraph 1 (b). If you have not), attached to the application, the Ministry of
finances.
(6) if they are not originals or certified copies of the Treaty on the export
credit and export credit insurance, delivered to the Ministry of
Finance within 6 months from the date of delivery of the decision on the classification of the export
credit to the system call of interest differences to the Bank, the exporter,
the decision to include an export credit to the system call of interest
the differences can no longer take effect.
(7) the Bank, the exporter shall present the export insurance company contract for export
the loan within 15 days of its conclusion. Export insurance company shall forward the
The Ministry of Finance of export credit agreement without undue delay after the
the conclusion of the contract of export credit insurance, along with the Treaty
export credit insurance, and with their opinion, to meet the conditions
entry into force of the decision on the classification of export credit to the system
call for interest differences. Export credit agreement must be in
Czech or English language. The Bank, the exporter shall provide, without undue
delay, upon the invitation of the Ministry of finance officially certified translation
the contract of export credit to the Czech language.
(8) the Ministry of Finance shall send the decision on the classification of an export credit to
the system call of interest differences to the Bank, the exporter and the export
the insurance company. After the entry into force of the decision on the classification of export credit
calling into the system shall inform the Ministry of finance interest differences
the Bank, the exporter and the export insurance company about this fact. The Bank, the exporter
shall notify the Ministry of finance through export insurance company first
drawing of an export credit not later than 7 days from the date of the first drawdown.
(9) on the decisions of the Ministry of finance for the inclusion of an export credit to
the system call of interest differences are not covered by the administrative code with
exception of the provisions concerning the counting of time and the provisions on service.
(10) the request for the inclusion of an export credit to the system call of interest
the differences referred to in paragraph 1, the Declaration referred to in paragraph 2 (a). (f)),
opinion on export insurance company referred to in paragraph 4 and the opinion of the export
insurance undertakings referred to in paragraph 7 may only be made on a form issued by the
The Ministry of finance, or on the print output from a computer printer,
that has the information, the content and the arrangement of information identical with this form. In
the forms can only request the information necessary for the inclusion of an export
credit to the system call of interest differences.
section 7b
The implementation of the call
(1) the condition of interest rate differences is calling
and export credit) compliance with international rules,
(b)) setting of a fixed interest rate of export credit,
(c) export credit risks) insurance the export insurance company and
(d)), the fact that the exporter is not a foreign company.
(2) the function of a payment and billing system, call agent
interest-rate differences provides export Bank. The Ministry of finance
each year, provides export Bank margin call of interest
differences in financial resources in the form of a deposit of Eur 250 000 000.
If the amount of the advance will decline, however, from the title of the call of interest differences
below the amount of 100 000 000 Eur, the Bank is entitled to request the export
The Ministry of finance to make up the amount of 250 000 000 CZK. The Ministry of
the Treasury will increase the advance within 20 days from the receipt of the application export Bank.
Export Bank converts the Finance Ministry an amount exceeding 250 000
EUR in respect of the surplus of interest differences within 20 days from the date on which
the balance of the advance exceeds the amount 500 000 000 CZK. Amount transacted
The Ministry of finance in respect of the excess of the interest is income differences
the State budget.
(3) the exporter shall present the export Bank insurance company request for a call
interest rate differences, or the announcement of the transfer of the surplus of interest differences,
within 15 days after the expiration of 6 months from the date of the first drawdown of an export credit
at regular six-month intervals or after pumping
drawing of an export credit and repayment period on a regular
six-month intervals from the first day of the repayment period of an export credit
until full repayment of the export credit.
(4) in the event of excess interest differences is the Bank, the exporter
required to convert the surplus payment and clearing agent according to the
paragraph 2, always within 15 days from the date of dispatch of the notification on the transfer of surplus
interest-rate differences. In the case of the claim of the exporter's Bank to call
interest-rate differences of export insurance company grants an export Bank instruction to
payment of interest differences so that interest paid to differences 30
days from the receipt of the call of interest differences.
(5) Export insurance company shall inform the Ministry of finance no later than
the end of the next calendar month on the applications of the Bank about exporter
call for interest differences of the notifications of the Bank, the exporter of the transfer
the surplus of interest differences and on the submitted payment orders for payment
interest differences for the previous calendar quarter.
(6) in the event that the Bank, the exporter fails to comply with a deadline for the transfer of surplus
interest rate differences, is required to reimburse the special account referred to in paragraph 2
a penalty of 1 per mille of the amount due for each day of delay, up to
However, up to the amount owed.
(7) the Ministry of Finance shall issue a decree calling the method for calculating
interest-rate differences. Request for interest differences and call notification
the transfer of the surplus of interest differences referred to in paragraph 3 and the export notification
insurance undertakings referred to in paragraph 5 may only be made on a form issued by the
The Ministry of finance, or on the print output from a computer printer,
that has the information, the content and the arrangement of information identical with this form. In
the forms can only request the information necessary for calling
interest-rate differences.
§ 7 c
Adjust and check
(1) the Bank, the exporter is required to notify the Ministry of finance
through export insurance change in terms of drawing or
export credit and repayment in the facts referred to in the application for
the inclusion of an export credit to the system call of interest differences until 15
days from the effective date of the change.
(2) Export insurance company after the control will advance notification
The Ministry of finance, within 15 days of its receipt, along with your
the opinion to change. If the Treasury agrees with the change
shall issue within 30 days of referral to the notification from the export insurance new
the decision to include an export credit to the system call of interest
the differences at the same time cancels the previous decision on the classification of the same
an export credit to the system call of interest differences. The Ministry of
Finance sends the new decision on the classification of an export credit into the system
calling the bank interest differences of the exporter and export insurance company.
The Ministry of finance in the opposite case, within the same period, notify the Bank
exporter of their opposition to the change. In the event of a change of only in
reduction in the amount of the loan, the Ministry of finance with such change
always agree, and the Ministry of finance will issue within 30 days of referral to the
announcements from the export insurance companies a new decision on the classification of the export
credit into the system at the same time calling for interest differences and cancels the
the present decision on the classification of the same export credit into the system
call for interest differences. The Ministry of finance will send a new
the decision to include an export credit to the system call of interest
differences to the Bank, the exporter and the export insurance company.
(3) without the prior consent or subsequent approval by the Ministry of
Finance of interest differences not calling
a change in the terms of repayment of the export credit.
(4) for the requirements of the Bank, the exporter notification referred to in paragraph 1 and for
How to export insurance and the Ministry of Finance shall apply mutatis mutandis to Section 7a.
(5) the Ministry of finance, shall check compliance with the conditions and
obligations laid down in this Act, international rules and
a decision on the inclusion of an export credit to the system call of interest
the differences. The Bank, the exporter is required to submit to the Ministry of Finance on the
the basis of his documents proving compliance with these terms and conditions and
duties.
(6) the notice of the Bank, the exporter under paragraph 1 and the opinion of the export
insurance undertakings referred to in paragraph 2 may only be made on a form issued by the
The Ministry of finance, or on the print output from a computer printer,
that has the information, the content and the arrangement of information identical with this form. In
the forms can only request the information necessary for calling
interest-rate differences.
§ 7 d
Out of the system
(1) the Ministry of finance may, in proceedings to decide on the disposal of the export
the loan from the system call of interest differences, if
the exporter's Bank) significantly violates the obligations under this
by law, international rules or a decision on the inclusion of the export
credit to the system call of interest differences; for the infringement of an essential
duties shall be treated in particular, the failure to fulfil obligations pursuant to § 7 para. 1,
b) export credit meets the requirements of this Act or international
the rules; in the case of amendments to the international rules of the Ministry of finance
First, ask the exporter to the Bank within a reasonable time,
The Ministry of Finance shall determine the export credit, said in accordance with the
international rules,
c) export credit is not drawn at least 50% within the time limit referred to in the application for
the inclusion of an export credit to the system call of interest differences,
(d) the exporter's Bank) stated in the application for inclusion of an export credit into the system
call for interest differences in the application of interest to make up the differences
or in the notice of the transfer of the surplus of interest differences of incomplete or
false information, or
(e) a material change) has occurred in the conditions of drawing or repaying the loan without
the prior approval of the Ministry of finance.
(2) the proceeding is initiated on the date, when the Ministry of Finance announced the initiation of the
the management of the Bank to the exporter. The notification shall contain a description of the fact, in
that the Finance Ministry sees the reason for the eviction of an export credit
from the system call of interest differences. The only party to the proceedings is
the exporter's Bank.
(3) the exporter's Bank and its agents have the right to access to the file, and even
in the event that the decision came into effect. The Ministry of finance is
obliged to give the Bank the option of the exporter, that before a decision could
comment on his background and the way their findings, as appropriate,
propose their replenishment. The supporting documents for the issuance of the decision may be
in particular, the administration of the Bank, the exporter, the evidence, the facts known to the Ministry of
funds from official activities, documents from other administrations or
public authorities, as well as the fact of common knowledge. Scope and method
discovery of documents for the Ministry of finance determines the decision.
(4) if the Ministry of finance Finds a reason for the disposal of an export credit
from the system call of interest differences, control by order of stops.
(5) to exclude from the system call of interest differences, the Ministry of
the Treasury decided by decision. The decision shall contain a statement
the reasons and lessons of decompilation. The operative part of the decision in a case with
an indication of the provisions of the law, according to which the decision was made. In
the preamble to the decision of the Ministry of Finance shall indicate which facts
they were the basis of the decision, such considerations are kept in the evaluation
evidence and the use of legislation, on the basis of which the decision.
The lesson of the decomposition contains a statement that against the decision, the Bank may
submit, in what period of time, to which the authority and where can
the decomposition of the lodge.
(6) the decision came into effect, if it has been notified to the Bank by the exporter
Unable to bring against him. The decision, which came into effect, it is
binding for the Bank, the exporter and any administrative authority. The Ministry of
Finance sends the decision after its effective export insurance company.
(7) within 15 days from the date of notification of the decision of the Ministry of finance can be
against him lodged with the Ministry of Finance of the decomposition. The decomposition is decided by the
the Minister of finance. In the period does not include the day of notification of the decision.
The deadline for filing is maintained, if the last day of the period
Administration in the Ministry of Finance has been taken, or if it is proven to be made
mail that contains the corruption. In time brought on decomposition has suspensory
effect. As a result of suspensive effect of degradation does not occur the effectiveness
decision.
(8) to the new realities and to the proposals on the implementation of the new evidence,
referred to in the degradation or decomposition in the course of proceedings, taking into account only
When it comes to such facts or evidence that the exporter's Bank
could not apply before. If the Bank argues of the exporter, that she was not allowed to
make in proceedings in respect of an Act, the Ministry of finance must be
This action made together with decomposition.
(9) if the Minister of finance considers that the contested decision is
in conflict with the law or that the contested decision is incorrect,
cancels and returns to the Treasury Department for reconsideration. In
the preamble to this decision, the Finance Minister said the legal opinion, which
the Ministry of finance in the new consideration of the case.
(10) if the Minister of finance would not find a reason for the procedure under paragraph (9),
the decomposition of rejects and the contested decision.
(11) the decision of the Minister of Finance shall take effect, provided that the
notified to the Bank by the exporter.
(12) after the Elimination of the export credit from the system call of interest
the differences could save the Treasury Bank exporter obligation
payment and settlement agent provided for in § 7b para. 2 a fine of up to
to the amount paid to the Bank by the exporter as to call interest rate differences
the date on which it was one of the reasons mentioned in paragraph 1. It
does not apply, if there is to be scrapped on the grounds that export credit no longer meets the
international rules as a result of their amendments adopted after inclusion of
an export credit to the system call of interest differences.
(13) on making a decision on the disposal of an export credit from the system call
interest-rate differences not covered by the administrative code, with the exception of the provisions on
counting time and provisions on service.
§ 8
the title launched
(1) the State shall be liable for the obligations of
and export insurance companies from insurance) export credit risks pursuant to § 1
paragraph. 2; in the case of a drop in the value of the primary capital export
below the amount of insurance under section 4A(1). 3 or below minimum
the capital requirement will complement the Treasury within 6 months from the date of
When a written request received by the export of capital,
export insurance assets such that after the expiry of
ensure the coverage of the solvency capital requirement in accordance with § 4a
paragraph. 3 or the minimum capital requirement,
b) export Bank of the repayment of financial resources obtained export
for the obligations of the Bank and other banks in financial operations
markets.
(2) the relationships that are formed between the State and a foreign person, in whose
the benefit is the guarantee referred to in paragraph 1 is granted, shall be governed by the provisions of
Special Act. ^ 12a)
(3) if it is not contrary to the law of another State, the State is liable under paragraph 1
unconditionally and irrevocably. The Ministry of finance is authorised to
confirm the State guarantee in writing.
(4) to obtain the financial resources of the export Bank in capital markets
requires the consent of the Ministry of finance, where the special law ^ 13)
provides otherwise.
(5) to ensure the repayment of the subsidized financing provided with
excluding the refinancing of loans is obliged to arrange export Bank
collateral.
(6) in the case of the performance of the State from the State guarantee provided is the responsibility of
export insurance and export Bank to pay the amounts owed to the State resulting from the
from this performance by subrogation of claims accepted in the context of
insurance of export credit risks or supported by funding
The Ministry of finance, and to the extent corresponding to the proportion of the State at the
payment obligations of the granted State guarantees export Bank
has negotiated security.
(7) the export insurance company will ask the Finance Ministry to increase the
primary capital referred to in paragraph 1 (b). and) without undue delay
After discovering that it is not complied with the amount of own funds to cover the
the solvency capital requirement under section 4A(1). 3 or
minimum capital requirement, or where the Czech National Bank
export insurance company submit for approval a plan for the restoration or schedule
short-term financing. This request shall be accompanied by an export insurance company
rationale for the decline in its primary capital including an estimate of the future
the development of the solvency capital requirement or the minimum
the capital requirement in the next 3 years and the draft measures
to reduce its risk profile.
§ 9
the title launched
The provision of State aid under this Act must be in accordance with the
a special law governing the public support. ^ 14)
PART TWO
SUPPLEMENTING Act No. 166/1993 Coll. on the Supreme Audit Office, AS AMENDED by
AMENDED
§ 10
Act No. 166/1993 Coll. on the Supreme Audit Office, as amended by Act No.
331/1993 Coll., Act No. 114/1994 Coll. and Act No. 224/1994 Coll.,
supplemented as follows:
In section 3, paragraph 3. 5 the end of the deletion period and connect with these words:
"and the management of the export guarantee and insurance company, joint-stock
the company, Prague, with resources provided from the State budget to
the operation of insurance of export credit risks, and Czech export
the Bank, a joint-stock company, Prague, with resources provided from
the State budget for the operation of the favourable financing under
a special law, as well as the management of these companies with the resources
for which took over State guarantees. "
PART THREE
§ 11
This Act shall take effect on the date of publication.
Uhde in r.
Havel, v. r.
Klaus r.
Selected provisions of the novel
Article. (II) Act No. 220/2015 Sb.
Transitional provisions
1. the authorization granted by the export guarantee and insurance company, a. s.,
to its activities under the existing legislation, it is considered
the authorisation granted under section 3a of Act No. 58/1995 Coll., in the version in force from
the effective date of this Act.
2. Czech National Bank shall issue within 6 months from the date of entry into force of this
the law the export guarantee and insurance company, a. s., certificates,
stating the extent of the authorisation granted to the insurance undertaking of the insurance
, and the reinsurance business. This certificate is considered to be the instrument of
the facts that are to be entered in the commercial register.
3. the proceedings initiated before the date of entry into force of this Act and to
on this day, the executor completes and the rights and obligations
related are assessed according to the existing legislation.
4. Limit the primary capital under section 4A(1). 3 reaches the export
the insurance company by the end of the year 2020 in successive annual increments.
The minimum capital requirement under the law governing the insurance industry
31. December 2016 12.5% and 31. December 2017 25% of the value
the solvency capital requirement.
1) Council Directive 98/29/EC of 7 September 2004. May 1998 on harmonisation of the main
the conditions relating to export credit insurance for transactions with
medium and long-term insurance.
Council decision 2001/76/EC of 22 December 2004. December 2000 replacing
decision of 4 December 2002. April 1978 on the application of certain principles in the framework of the
officially supported export credits-arrangement on guidelines for officially
supported export credits.
The agreement on subsidies and countervailing measures published in the communication
Ministry of Foreign Affairs published in the collection of laws under no.
191/1995 Sb.
1B) Act No. 21/1992 Coll., on banks, as amended.
5A) Act No. 593/1992 Coll., on reserves for the determination of the tax base of the
income, as amended.
Decree No. 75/2000 Coll., implementing Act No. 363/1999 Coll., on the
insurance and amending certain related laws (the law on the
the insurance industry).
5B) § 3 (b). m) Act No. 37/2004 Coll., on insurance contracts and amending
related laws (law on insurance contracts).
6) § 28 para. 1 (b). a) to (e)) of the commercial code.
7) § 788 et seq.. of the civil code.
8) § 289 et seq. the commercial code.
8A), for example, Council decision 2001/77/EC of 22 December 2004. December 2000 on the
application of principles of a framework agreement on project finance in the field of
officially supported export credits.
Council decision 2001/76/EC of 22. December 2000 replacing the decision of
from day 4. April 1978 on the application of certain principles in the framework of the State
supported export credits-arrangement on guidelines for officially
supported export credits.
9) Act No. 21/1992 Coll., on banks, as amended.
Act No. 6/1993 Coll. on Česká národní banka, as amended by Act No.
60/1993.
12A) section 11 of Act No 97/1963 on private international law and
procedural, as amended.
13) § 45 et seq.. Act No. 586/1992 Coll., on the securities in the
as amended.
14) Act No. 59/2000 Coll., on public support, as amended by Act No.
130/2002 Sb.
15) European Parliament and Council Regulation (EU) no 575/2013 from 26 March.
June 2013 on prudential requirements for credit institutions and
investment firms and amending Regulation (EC) No 648/2012.
