Rs 0.946.116.49 The 27 January 2005 Agreement Governing The Reciprocal Obligations Of Reinsurance Between The Office For The Guarantee Against Risks To Export, Reservations 8, 8032 Zurich (Hereinafter "bgre"), Acting On Behalf Of The Confederation Su

Original Language Title: RS 0.946.116.49 Accord du 27 janvier 2005 régissant les obligations réciproques de réassurance entre le Bureau pour la garantie contre les risques à l’exportation, Kirchenweg 8, 8032 Zurich (ci-après «BGRE»), agissant pour le compte de la Confédération su

Read the untranslated law here: https://www.admin.ch/opc/fr/classified-compilation/20042754/index.html

0.946.116.49 translation agreement governing the reciprocal obligations of reinsurance between the Office for against the export risk guarantee, reservations 8, 8032 Zurich (hereinafter "BGRE"), acting on behalf of the Swiss Confederation, and the Agency of credit insurance export, Sienna Street 39, 11-121 Warsaw (hereinafter "KUKE SA"), acting under the Act of 7 July 1994 concerning the credit export guarantees by the Ministry of finance concluded on January 27, 2005, approved by the Federal Assembly on 15 March 2005 instrument of ratification deposited by the Switzerland on 10 May 2005, entered into force on 10 May 2005 (State on August 9, 2005) art. 1 purpose of the agreement 1. KUKE SA declares itself willing to reinsure the part, expressed in percent, credit guarantees granted by the BGRE to exporters Swiss or third parties (particularly of banks), insofar as these guarantees cover risks born from the supply of goods for the export of Polish origin.
2. the BGRE stands ready to reinsure the part, expressed in percent, credit guarantees granted by KUKE SA to Polish exporters (and the banks funding), insofar as these guarantees cover risks born from the supply of goods for the export of Swiss origin.
3. the final decision to reassure is taken on a case by case by KUKE SA or by the BGRE.

Art. 2 scope of application 1. This agreement shall apply in the following cases: a) exporter established in the country of one of the insurers made call to execute the contract, subcontractors established (among others) in the country of the other insurer, understanding that the exporter is only committed and able to assert rights against the foreign buyer; b) exporters in Switzerland or Poland have concluded with a buyer located in a country other than the Poland or the Switzerland relating to the same project export contracts, and the credit insurer in the country of one of the exporters is willing to conclude a credit insurance.

2. the present agreement does not apply where the insurer grants coverage for an export contract, the main agent and that this fixed with his (its) subcontractor (s) of the country of the reinsurer of the terms 'if and when' about the risk to be insured.

Art. 3 definitions under this agreement, means: working day a day when the offices of two credit insurers are open;

Insurer (s) - credit the BGRE and KUKE SA or one of the two.

Exports the goods and/or services delivered or provided, as the case, under the terms of the export contract;

Insurer the credit insurer which sets the police;

Chief Agent the exporter who is a party to the contract with the foreign buyer;

Police insurance or a guarantee issued by the insurer;

Reinsurance share the value of exports covered by the reinsurer, expressed as a percentage;

Reinsurer that credit insurers who reinsures the other in respect of a given operation.

Art. 4 origin of export credit insurers assume that exports from the country of the reinsurer are from it. If, in a given case, the insurer has reason to doubt, he shall immediately inform the other credit insurer and communicates the results of the investigation to which he proceeded to establish the origin of exports.

Art. 5 types of safeguards under this agreement the types of fonts and guarantees issued by the BGRE and by KUKE SA to which this agreement applies are listed in appendices 1 and 2. Each credit insurer shall notify, in writing, changes made to one of its types of fonts or guarantees.

Art. 6 determination of the insurer as a general rule, the credit insurer of the country from the largest share of exports to ensure, in terms of value, which is the main insurer. Credit insurers may derogate from this rule by mutual agreement, taking into account the specific circumstances of the case.

Art. 7 share of reinsurance 1. The share of reinsurance is calculated pro rata portions of original Swiss and Polish exports to reinsure, on the basis of the information provided by the person who filed the application for insurance. The ratio of exports of Swiss and Polish origin is the criterion.
2. when the transaction to ensure includes exports from one or several countries third (the country of the foreign buyer is considered a third country), the credit insurer that covers the risk is the exporter under the responsibility of which this part is executed. Credit insurers may agree to another method of calculation to determine the share of reinsurance.
If the share from third countries cannot be determined without ambiguity, the insurer grants its guarantee to the share from third countries without reinsurance. If in special cases, the insurer is not able to assume the entire risk for deliveries from third countries, it may agree with the reinsurer of a distribution of risk based on the ratio between the share of Swiss origin and the share of Polish origin of exports.
3. Appendix A provides examples for the calculation of the share of reinsurance.

Art. 8 obligations of the 1 reinsurer. If the reinsurer is committed to reinsure, it must pay to the insurer the amount of reinsurance agreed when the insurer is obliged to pay compensation under the policy.
2. unless he not agreed otherwise, the reinsurer assumes reinsurance from who is responsible at the hedged rate fixed by the insurer in its policy. However, the reinsurer is not required to agree a reinsurance beyond its maximum coverage rate.
3. the reinsurer agrees to pay to the insurer an amount equal to the share, expressed as a percentage of the compensation paid by the insurer under the terms of the policy. Payment must be made within 30 working days following the date on which the reinsurer was informed by the insurer that compensation had been paid.
4. in the event of damage before delivery, the reinsurer must also pay compensation proportional to the share of reinsurance, if this risk is covered by the policy. In such cases, the amount of the payment does not calculate based on the cost of the shares of exports in question, but according to the share of reinsurance related to the damage total calculated on the basis of the cost price.
5. the reinsurer agrees to not oppose pay compensation if it is required by the terms of the policy, insofar as the information contained in appendices 1 and 2 or the information given by the insurer to the reinsurer under the procedure described in art. 13, correspond to the provisions of the police.
6. the reinsurer agrees to inform the insurer of any problem that he would be informed and which could affect the performance of the contract of delivery or credit contracts y related.

Art. 9 obligations of the insurer 1. The insurer undertakes to inform the reinsurer of all change the font, the size and the kind of the business financed by an export credit or contractual rules, insofar as this may affect the risk covered.
2. the insurer undertakes to consult the reinsurer before taking a decision that bind on the measures to be taken or instructions to be given to the policyholder in the event of an event likely to aggravate the risk covered or if the disaster is imminent.
3. If after the payment of compensation, the insurer receives a refund or holds back part of the payment, he must, within a period of 30 days, transfer the amount corresponding to the share of reinsurance to the reinsurer.
4. the insurer shall inform without delay the reinsurer if he finds that a debtor has not made a payment due in depreciation of a claim covered by the policy.
5 at the request of the reinsurer, the insurer shall make available a copy of all documents relating to a case that are in its possession.
6. the insurer undertakes to inform the reinsurer as soon as the commitments arising from the police have ended.

Art. 10 calculation and distribution of the premium 1. The reinsurer has the right to a reinsurance premium: has) which corresponds to the share of reinsurance in insurance premium, forgotten the source) which, in individual cases, was agreed between credit insurers, so that the reinsurer to receive premium compensation system requires to cover the risk to reinsure.

The insurer is entitled to retain a maximum 10% cited amounts to the let. ((a) and b) in compensation for its management fee.
2. the reinsurance premium is to be paid within 30 days from the one where the insurer has cashed the premium.
3. If the policyholder Gets the insurer a refund of premium, the reinsurer is in principle required to retrocede the share of the premium paid to the insurer, at his request, corresponding to the share of the premium which has been paid - net of the amount deducted in respect of administrative costs.

Art. 11 changing the origin of exports


1 if the origin of export products, once the reinsurance is definitively confirmed, changes, in terms of value, over 10% in composition, or if the relationship between the share of exports of the main representative and those of the subcontractors is changed by more than 10% in value, the insurer shall inform the reinsurer, each of the two parties so that may require adaptation on the part of reinsurance.
2 If this adaptation, are adapted accordingly the amounts that need each other the insurer and reinsurer in the form of premiums, rights and participation at the expense of legal action or cost reduction or prevention of damage.

Art. 12 appeals 1. The insurer consults the reinsurer before commencing legal action or assert rights of recovery costs in total exceed 10% of the outstanding amount.
The reinsurer is required to attend, in proportion to its share of reinsurance, spending by the insurer for a refund or engage in legal proceedings, insofar as the insurer is obliged, under the terms of the police he set, assume or repay the cost to the policyholder. The payment will be made within 30 days from the date of the disclosure of charges.
2. If the insurer wants to alienate, return or cancel debts owned economically or legally after payment of compensation, he must obtain approval from the reinsurer.

Art. 13 rules of procedure the procedural rules of implementation of this agreement are governed by Appendix 3.

Art. 14 debt rescheduling 1. If a request for debt rescheduling is made by the country of the buyer or the borrower, credit insurers shall consult to determine how to resolve potential problems that would result. However, the final decision will be made by the insurer.
2. If the covered claim is included in an agreement for debt rescheduling with the country of the buyer or the borrower, the insurer consults the reinsurer if he wishes to give, Exchange, or put debt on the insurance policy.
3. the insurer is entitled to compensation at contract maturity, without observing period, which is generally intended for the payment of compensation.

Art. 15 currency unless it not agreed otherwise by credit insurers, all payments relating to the different business of reinsurance must be made in the currency in which the police is denominated.

Art. 16 arbitration 1. The Contracting Parties are trying to resolve amicably disputes that may arise from this agreement.
2. disputes which cannot be resolved amicably are decided by an arbitral tribunal formed of three people. Each Contracting Party shall designate a judge of referees, and the two designated judges appoint in turn of referees judge presiding.
The tribunal sits in the country of the insurer: in Warsaw, in the case of KUKE SA; in Zurich, in the case of the BGRE. The procedure is conducted in English. The arbitral tribunal also fixed the procedure according to the principles of the rule of law.

Art. 17 entry into force, termination and Amendment 1. The two Contracting Parties sign this agreement, which comes into force the day where the BGRE communicates to KUKE SA that constitutional requirements in Switzerland for the implementation of the agreement are met (ratification).
2. each of the parties to the agreement may terminate it at the end of a calendar year. The information must be in writing, with a notice period of three months. Before disclosure obligations continue to deploy their effects.
3. the Contracting Parties may modify this agreement at any time. Appendix 3 and all the annexes may be amended at any time with the consent written the BGRE and KUKE SA.

Art. 18 languages 1. This agreement has been written in six originals, two in Polish, two in English and two in German, each party receiving a copy in each language.
2. the Polish, German and English versions are equally authentic. The English version however will be the basis for interpretation. The working language is English.

Appendix 1 details of the facilities granted by KUKE ease coverage risks covered remarks supplier Credit Debit private (credit risk) up to 85% for the economic risks up to 90% for political risks and natural disasters economic and political risks: economic risks include: 1) insolvency - statement of insolvency of a debtor or guarantor who is not able to fulfill its obligations to the insured of the fact of a legal finding or insolvabilite.2 material) delay - delay of the debtor or the guarantor in the dus.3 payments) breach of contract - unjustified Decision of the debtor not honoring the contract, to terminate or to refuse goods or services. Political risks include: 1) Decision of a third State - Creation or modification of legal requirements or decisions made by the Government or other bodies of the country of the debtor or another country involved in the insurance contract preventing the realization of the contrat.2) moratorium - the announcement of a general moratorium on the payments by the Government of the country of the debtor or of a country involved in payments or in the contract of assurance.3) impossibility of impossibility or delay in transfer - transfer of payments due, in the currency of the payment, as a result of political events, economic difficulties, legal requirements or administrative decisions of the authorities of the country of the debtor or a third country involved in the contract of assurance.4) legal requirements - Prescriptions according to which payments made by the debtor in local currency are sufficient to cover the obligations arising from the contract regardless of the fact that due to the change in the exchange rate, when converted into the currency of the contract, the amount paid covers more contractuelles.5 bonds) of the country of the insurer - legal regulations or decisions taken by the Government of the Republic of Poland and the Union European external trade which make impossible the fulfilment of the contract or the delivery of ordered services insofar as the effects are not covered otherwise by the concerne.6 Government) Force majeure - war, rebellions, revolutions, riots, civil disturbances, earthquakes, volcanic eruptions, cyclones, typhoons, floods, tidal waves, fires of a catastrophic nuclear accident outside Polish territory and its effects.

Coverage of the contractual obligations arising from various export contracts with a term of credit of two years or more. It includes the amount of the credit including interest and is valid until maturity. The payment period is 3 months. Not delay of payment if insolvency is legally established or if a bilateral agreement is concluded between the debtor country and the Republic of Poland about a restructuring of the debt including the insured property.
Interest on arrears are not covered.

Credit public debt provider (credit risk) up to 90% for all risks political risks include: 1) delay of the debtor or the guarantor to make payments dus.2) breach of contract - unjustified Decision of the debtor public not honoring the contract, to terminate or to refuse goods or the services.3) Decision of a third State - Adoption or amendment of legal requirements or decisions made by the Government or other bodies of the country of the debtor or another countries involved in the insurance contract preventing the realization of the contrat.4) moratorium - announcement of a general moratorium on the payments by the Government of the country of the debtor or of a country involved in payments or in the contract of assurance.5) inability to transfer - inability or delay in the transfer of payments due, in the currency of the payment, as a result of political events of economic difficulties, legal requirements or administrative decisions of the authorities of the country of the debtor or a third country involved in the contract of assurance.6) legal requirements - Prescriptions according to which payments made by the debtor in local currency are sufficient to cover the obligations arising from the contract, irrespective of the fact that, because of the change in the exchange rate (, once converted into the currency of the contract, the amount paid covers more contractuelles.7 bonds) of the country of the insurer - Adoption of regulations or decisions taken by the Government of the Republic of Poland and by the European Union regarding foreign trade which makes impossible the execution of the contract or the delivery of services ordered, insofar as the effects are not covered otherwise by the concerne.8 Government) Force majeure - war , revolts, revolutions, riots, civil disturbances, earthquakes, volcanic eruptions, cyclones, typhoons, floods, tidal waves, fires of a catastrophic nuclear accident outside Polish territory and its effects.


Coverage of the contractual obligations arising from various export contracts with a term of credit of two years or more. It includes the amount of the credit including interest and is valid until expiry.
The payment period is 3 months. Not delay of payment if insolvency is legally established or if a bilateral agreement is concluded between the debtor country and the Republic of Poland about a restructuring of the debt including the insured property.
Coverage for a public debtor is granted if the buyer or the guarantor, in one form or another, represents the public authority and cannot be declared insolvent, either legally or administratively. It can be either a sovereign debtor, in other words of an entity invested trust and credit of the State or any other public, regional, municipal or parastatal entity, or another public institution.
Interest on arrears are not covered.

Credit debit private up to 100% for all buyer risks political risk include: 1) delay of the debtor or the guarantor to make payments dus.2) insolvency - statement of insolvency of a debtor or guarantor who is not able to fulfill its obligations to the insured of the fact of a finding legal or material of insolvency. Political risks include: 1) Decision of a third State - Adoption or amendment of legal regulations or decisions made by the Government or other bodies of the country of the debtor or another country involved in the insurance contract preventing the realization of the contrat.2) moratorium - the announcement of a general moratorium on the payments by the Government of the country of the debtor or of a country involved in payments or in the contract of assurance.3) inability to transfer - impossibility or delay the transfer of payments due, in the currency of the payment, as a result of political events, economic difficulties, legal requirements or administrative decisions of the authorities of the country of the debtor or a third country involved in the contract of assurance.4) legal requirements - Prescriptions according to which payments made by the debtor in local currency are sufficient to cover the obligations arising from the contract regardless of the fact that due to the change in the exchange rate, when converted into the currency of the contract, the amount paid covers more bonds contractuelles.5) Decisions of the country of the insurer - Adoption of regulations or decisions made by the Government of the Republic of Poland and by the Union European external trade which makes impossible the execution of the contract or the delivery of ordered services insofar as the effects are not covered otherwise by the concerne.6 Government) Force majeure - war, rebellions, revolutions, riots, civil disturbances, earthquakes, volcanic eruptions, cyclones, typhoons, floods, tidal waves, fires of a catastrophic nuclear accident outside Polish territory and its effects.

Coverage of buyer credit can be given to financial institutions that grant loans for a period of two years or more. Coverage is valid for the payment obligations in respect of a credit agreement and includes the amount of the credit and interest and bank charges. KUKE SA may also cover the amount of the credit for the financing of the insurance premium. If the insured is forced to cancel the contract of the result of a decision of the Polish Government or instructions of KUKE SA, the insured is entitled to be compensated for the amount it will pay to the debtor as a result of the breach of the contract.
The coverage is valid until maturity. Interest on arrears are not covered.
Payment period: 3 months no payment deadline if insolvency is legally established or if a bilateral agreement is concluded between the debtor country and the Republic of Poland about a restructuring of the debt including the insured property.

Public debtor buyer up to 100% for all credit risks political risk include: 1) late payment of a debiteur.2) Decision of a third State - Adoption or amendment of legal regulations or decisions made by the Government or other bodies of the country of the debtor or another country involved in the insurance contract preventing the realization of the contrat.3) moratorium - the announcement of a general moratorium on the payments by the Government of the country of the debtor or of a country involved in payments or in the contract of assurance.4) inability to transfer-impossibility or delay in transfer of payments due in the currency of the payment, as a result of political events, economic difficulties, legal requirements or administrative decisions of the authorities of the country of the debtor or a third country involved in the contract of assurance.5) legal requirements - requirements according to which payments made by the debtor in local currency are sufficient to cover the obligations arising from the contract regardless of the fact that due to the change in the exchange rate, when converted into the currency of the contract, the amount paid covers more bonds contractuelles.6) Decisions of the country of the insurer - Adoption of regulations or decisions made by the Government of the Republic of Poland and by the Union European external trade which makes impossible the execution of the contract or the delivery of ordered services insofar as the effects are not covered otherwise by the concerne.7 Government) Force majeure - war, rebellions, revolutions, riots, civil disturbances, earthquakes, volcanic eruptions, cyclones, typhoons, floods, tidal waves, fires of a catastrophic nuclear accident outside Polish territory and its effects.

Coverage of buyer credit can be given to financial institutions that grant loans for a period of two years or more. Coverage is valid for the payment obligations in respect of a credit agreement and includes the amount of the credit and interest and bank charges. KUKE SA may also cover the amount of the credit for the financing of the insurance premium. If the insured is forced to cancel the contract of the result of a decision of the Polish Government or instructions of KUKE SA, the insured is entitled to be compensated for the amount it will pay to the debtor as a result of the breach of the contract.
The coverage is valid until the deadlines. Interest on arrears are not covered.
Payment period: 3 months no payment deadline if insolvency is legally established or if a bilateral agreement is concluded between the debtor country and the Republic of Poland about a restructuring of the debt including the insured property.

Debtor manufacturing private up to 85% for the economic risks up to 90% for political risks inability of the insured to honor the contract to export due to a risk of economic or political.

Economic risks include: 1) insolvency - statement of insolvency of a debtor or guarantor who is not able to fulfill its obligations to the insured of the fact of a legal finding or insolvabilite.2 material) breach of contract - unjustified Decision of the debtor not honoring the contract, to terminate or to refuse goods or services.

Coverage may be granted to the exporter (as part of coverage of supplier credit or part coverage of buyer credit has been granted). It refers to a risk of a period of two years or more and covers the fees and the costs imposed on the insured in the execution of its contractual obligations.
The payment period is 6 months. No legal finding of insolvency payment period.

Political risks include:

(1) decision of a third State - Adoption or amendment of legal regulations or decisions made by the Government or other bodies of the country of the debtor or another country involved in the insurance contract preventing the realization of the contrat.2) moratorium - the announcement of a general moratorium on the payments by the Government of the country of the debtor or of a country involved in payments or in the contract of assurance.3) inability to transfer - impossibility or delay in transfer of payments due in the currency of the payment, as a result of political events, economic difficulties, legal requirements or administrative decisions of the authorities of the country of the debtor or a third country involved in the contract of assurance.4) legal requirements - Prescriptions according to which payments made by the debtor in local currency are sufficient to cover the obligations arising from the contract, irrespective of the fact that, because of the change in the exchange rate (, once converted into the currency of the contract, the amount paid covers more contractuelles.5 bonds) of the country of the insurer - Adoption of regulations or decisions taken by the Government of the Republic of Poland and by the European Union regarding foreign trade which makes impossible the execution of the contract or the delivery of services ordered, insofar as the effects are not covered otherwise by the concerne.6 Government) Force majeure - war , revolts, revolutions, riots, civil disturbances, earthquakes, volcanic eruptions, cyclones, typhoons, floods, tidal waves, fires of a catastrophic nuclear accident outside Polish territory and its effects.

Risk of public debtor manufacturing up to 90% for all risks political risks include: 1) breach of contract - unjustified Decision of the debtor not to honor the contract, to terminate or to refuse goods or services.2 the public) Decision of a third State - Creation or modification of legal requirements or decisions made by the Government or other bodies of the country of the debtor or another country involved in the insurance contract preventing the realization of the contrat.3) moratorium - Announces of a general moratorium on payments by the Government of the country of the debtor or of a country involved in payments or in the contract of assurance.4) transfer impossibility-impossibility or delay in transfer of payments due in the currency of the payment, as a result of political events, economic difficulties, legal requirements or administrative decisions of the authorities of the country of the debtor or a third country involved in the contract of assurance.5) legal requirements - requirements according to which payments made by the debtor in local currency are sufficient to cover the obligations arising from the contract, irrespective the fact that due to the change in the exchange rate, when converted into the currency of the contract, the amount paid covers more bonds contractuelles.6) Decisions of the country of the insurer - Adoption of regulations or decisions made by the Government of the Republic of Poland and by the Union European external trade making it impossible the fulfilment of the contract or the delivery of the services ordered, insofar as the effects are not covered otherwise by the concerne.7 Government) Force majeure - war, rebellions, revolutions, riots, civil disturbances, earthquakes, volcanic eruptions, cyclones, typhoons, floods, tidal waves, fires of a catastrophic nuclear accident outside Polish territory and its effects.

Coverage may be granted to the exporter (as part of coverage of supplier credit or part coverage of buyer credit has been granted). It refers to a risk of a period of two years or more and covers the fees and the costs imposed on the insured in the execution of its contractual obligations.
The payment period is 6 months. No legal finding of insolvency payment period.

Risk coverage of warranty depending on the status of the status of the debtor debtor coverage can wear on a guarantee of return of deposit or a performance guarantee. Warranty coverage is generally granted in addition to coverage of the risk of manufacturing for public or private debtors.

11 State. July 2006 Appendix 2 details of the facilities granted by the BGRE I ease: cover of claim Type: guarantee beneficiary of the guarantee: the exporter or a third party (including a Bank) Insurance Conditions: Federal law on the guarantee against the export risk Ordinance against the export risk guarantee residual amount borne by the exporter: 5% at least rate of coverage (: 95% to the maximum basis for calculation: price of exports according to the export contract risks covered:) political risk: risk that occur abroad events, such as war or civil unrest, which make it impossible to fulfil its contractual obligations the client or cause the loss of goods still belonging to the exporter.

(b) the transfer risk: risk that the customer is unable to pay due to an action taken by his Government about the currency, after himself filed the equivalent in local currency.

(c) the economic risks:-presented by public debtors;

-presented by private debtors, - who belong to a community or an institution under public law, or - whose debt has a public bail or is guaranteed by a Bank approved by the BGRE, or - who perform public tasks, the economic risk is limited to the obligations of public or private customers which, in turn, perform public tasks;

(d) the monetary risks: possible monetary risks that can occur at the time of the refinancing of credit in foreign currency, a currency futures market or a similar transaction, after the occurrence of damage covered according to let. (a) to c). There is no guarantee against fluctuations in the rate of Exchange heard as primary risk.

II facility: Coverage of the risk of manufacturing (before delivery) Type: guarantee beneficiary of the guarantee: the exporter and, in principle, as a third party (including a Bank) Insurance Conditions: Federal Security Act against the export risk Ordinance against the export risk guarantee residual amount borne by the exporter: 5% at least hedged rate: 95% to the maximum basis for calculation : Cost risks covered: impossibility alleged or actual delivery due to increased subsequent to the order of political, economic risk or transfer, that can be covered according to ch. I, or lack of transport abroad.

III facility: Coverage of submission and guarantees guarantees of delivery (only in addition to a guarantee according to ch. I or II).

Type: Warranty the guarantee beneficiary: the exporter or a third party (including a Bank) Insurance Conditions: Federal law on the guarantee against the export risk Ordinance against the export risk guarantee residual amount borne by the exporter: 5% at least hedged rate: 95% to the maximum basis for calculation: amount of security of submission or the guarantee of delivery risks covered : - Improper solicitation - solicitation legitimate, when the exporter cannot fulfil its commitments because of the realization of a political risk or transfer.

11 State. July 2006 Appendix 3 procedural rules (art. 13) § 1 preliminary note this appendix regulates procedural issues within the meaning of art. 13 of the agreement governing the reciprocal obligations of reinsurance between KUKE S.A. and the BGRE.

(§ 2 application and provisional answer (a) as soon as one of two credit insurers receives a request it is likely to want to reinsure with the second, he advised on the application form (Appendix B) .b) the credit insurer in the position of reinsurer responds within 30 working days of receipt using the response form (Appendix C). It is expressed any wishes of changes (e.g. additional security) and indicates its premium rate if it diverges from that calculated by the insurer.

((§ 3 application and final answer (a) if the potential insurer wishes to establish an export credit insurance, it signals to the potential reinsurer on the final application form (Appendix D) .b) the potential reinsurer shall deliver its final response within 30 days of receipt of the final request through the final response form (Annex E) .c) once the police has been established confirms the insurer to the reinsurer, in writing and as soon as, police commitment of coverage through the granting of a form (Appendix F).

§ 4 premiums


At the latest when he received the grant of a police form (Appendix F), the reinsurer must send to the insurer an account, invoice or reference number, so that the insurer can transfer the premium for reinsurance as provided for in art. 10, Nos. 1 and 2.

§ 5 claim if a disaster, the insurer made a claim to the reinsurer, it must give the following information: - the reference number relevant, - the total amount still outstanding and the date of maturity -, the total amount that the insurer must pay, - the share of the reinsurer to the compensation paid by the insurer, - the reason for allowance (risk which materialized), - the date of the payment of the compensation.

§ 6 refunds in case of refund, the insurer shall give to the reinsurer the following indications: - the relevant reference, - the total amount that the insurer has recovered - number, costs of recovery that the insurer has paid, - the share of the reinsurer to the net repayment, - the date of the repayment, - current interest rates - the number of days where the interest has been perceived, - (if necessary) the rate of Exchange.

§ 7 end of bonds the insurer informs the reinsurer when its obligations under the policy are due.

Appendix A examples of the calculation of the share of reinsurance example 1 the contract price refers to 120 units - country A: 70 units delivery - delivery country B: 50 units coverage by the insurer (A): 100% Couverture by the reinsurer (B): 95% calculation on the part of reinsurance 50 '' 95 = 4750 100 = 39,58% '' 120 '' 100 12 000 example 2 the contract price refers to 120 units delivery - country A : 70 units delivery - country B: 50 units coverage by the insurer (A): 95% Couverture by the reinsurer (B): 95% calculation on the part of reinsurance 50 '' 95 = 4750 100 = 41.67% '' 120 '' 95 11 400 example 3 the contract price refers to 120 units delivery - country A: 60 units - country B: 40 units delivery - delivery country C: 20 units coverage by the insurer (A) : 100% coverage by the reinsurer (B): 95% calculation on the part of reinsurance 40 '' 95 = 3800 '' 100 = 38,00% 100 100 10 000 '' share of reinsurance refers to the total value of 120 units. The reinsured amount would therefore be 45.6 units.
Example 4 the contract price refers to 120 units - country A: 60 units delivery - delivery country B: 40 delivery units - country C: 20 units coverage by the insurer (A): 95% Couverture by the reinsurer (B): 95% calculation on the part of reinsurance 40 '' 95 = 3800 '' 100 = 40,00% 100 95 9500 '' share of reinsurance refers to the total value of 120 units. The reinsured amount would therefore be 48 units.
Example 5 the contract price refers to 120 units - country A: 60 units delivery - delivery country A: 40 units delivery - country C: 20 units coverage by the insurer (A): 100% coverage by the reinsurer (B): 95% calculation on the part of reinsurance - if third country deliveries are exclusively attributable to the country A: 40 '' 95 = 3800 '' 100 = 31.66% 120 100 12 000 — if deliveries from third countries are exclusively attributable to the country B : 60 '' 95 = 5700 100 = 47.50% '' 120 '' 100 12 000 example 6 the contract price refers to 120 units - country A: 40 units delivery - delivery country A: 60 units delivery - country C: 20 units coverage by the insurer (A): 95% coverage by the reinsurer (B): 95% calculation on the part of reinsurance - if third country deliveries are exclusively attributable to the country has : 60 '' 95 = 5700 '' 100 = 50,00% 120 95 11 400 — If deliveries from third countries are exclusively attributable to the B: 80 95 = 7600 '' country '' 100 = 66.6% 120 95 11 400 '' notes: If the insurer and reinsurer offer different coverage rates according to the risk, the average coverage rate is applied. Example: Political risk: 95% economic risks before delivery: 85% economic risks of credit: 90% average rate: 90% State 11. July 2006 Appendix B draft application form of: A: we referring to our agreement of we offer to reinsure the next case: our reference: exporter of our country: exporter of your country: their contractual relationship: project: buyer/country: borrower/country: guarantor/collateral: contract value: interests: Composition of deliveries (indication of the value of goods/services based on the part of the concerned country / deliveries from third countries) : Risk period:-manufacturing:-Credit: repayment terms: special remarks concerning the case: Type of coverage (s) requested (s): credit: interests: lender: covered amount estimated at: share of reinsurance estimated (calculated): Premium (indication of the basic amount) / deadline: Special Conditions: Conditions of recovery: remarks: Date: Signature: 11 State. July 2006 Appendix C form A: interim response of: referring to your draft application form from: your ref. n: our ref. n: * (a) based on data, we believe we can give you reassurance and await your final application in time form utiles.* (b) we believe that we can access your application if you are willing to make the following changes : We are waiting for your response and/or a modified application form.
* (c) as a reinsurer, we would like to receive the following bonus:-rate:-Due the: * (d) we cannot accede to your request for this folder.

Remarks: This form of interim response is by legally binding. Before deciding on the grant of a reinsurance, we proceed to a more detailed of risk; It will take also the agreement of our organ of decision or the supervisory authorities.
Date: Signature: * Please delete what does not suit State 11. July 2006 Appendix D final application form of: A: we referring to our of the agreement and your interim response of our ref. n: your ref. nde: we offer to reinsure the next case to the conditions below: exporter of our country: exporter of your country: their contractual relationship: project: buyer/country: borrower/country: guarantor/collateral: contract value: interests: Composition of deliveries (indication of the value of goods/services based on the part of the concerned country / deliveries of) third countries): duration of the risk:-manufacturing:-Credit: repayment terms: special remarks concerning the case: Type of coverage (s) requested (s): credit: interests: lender: amount total covered:-value of goods and/or services originating in the country of the reinsurer (in proportion of the value of all the goods and/or services provided):-share of coverage by the insurer:-share of reinsurance (calculation) : Special conditions: Conditions of recovery: amount of the premium to be paid:-to the insurer:-to the reinsurer: (calculation) the commitment of the insurer to the applicant will end the remarks: Date: Signature: 11 State. July 2006 Appendix E form of definitive answer of: A: we referring to our of the agreement and your final application of our ref. No.: your ref. n: * we accept your application and will give you the desired agreement reinsurance of the... and the conditions laid down in the final application form of the... * we cannot accede to your request of reinsurance.

Remarks: Date: Signature: * Please delete what does not suit State 11. July 2006 Schedule F form for granting a police of: A: we referring to our of the agreement and your final response of our ref. n: your ref. n: we inform you that a font has been granted the... The coverage amounts to: share of reinsurance amounted to: A the total to pay premium amounts to: B the amount to be paid to the insurer amounts to: C the amount to be paid to the reinsurer amounts to: premium accounts for C =...

At the premium must be paid to us: the...

Montant: .............................

Share of the premium:...

Amount to be paid to the reinsurer:...

We will make the payments owed to you within 30 days from the date of receipt.
Other remarks: Date: Signature: 11 State. July 2006