The Swiss Export Risk Insurance (ASRE) can also insure on the basis of art. 11, para. 1, LASRE:

A.

Financing operations related to export operations;

B.

The delivery of exported goods and appliances in export transactions.

¹ A good is of Swiss origin if, under s. 9 to 16 of the order of 9 April 2008 on proof of non-preferential origin of goods ² , it has been wholly obtained in the territory or has been the subject of sufficient working or processing.

² If the goods are not of Swiss origin, the Swiss share of added value in the share of the value of the operation covered by the ASRE must be at least 50 %. The term is:

A.

By Swiss added value, the difference between the amount of the contract of the export operation and the value of the foreign deliveries or benefits under-treated in the manufacture of the product;

B.

By part of the value of the operation covered by the ASRE, the difference between the value of the transaction and the amounts not insured by the ASRE or for which the ASRE obtains a reinsurance; if the ASRE ensures the export operation Only against the risk before delivery, the share of the value of the operation covered by the ASRE is equivalent to the cost of the return for which coverage is desired.

³ The ASRE may grant insurance even if the Swiss share of added value is less than 50 %, provided that it serves the purposes referred to in Art. 5 LASRE and complies with the principles of trade policy set out in s. 6 LASER. In doing so, it takes into account in particular the following aspects:

A.

The Swiss added value in relation to the benefits necessary for the success of the export operation, in particular the manufacture of essential components, research and development, or engineering services, of Planning and services is important enough;

B.

The share of Swiss added value in the exporter's total turnover resulting from the export operations carried out for a specified period is adequate;

C.

The average Swiss value added of all the export operations of an exporter who are insured by the ASRE and carried out for a specified period is adequate;

D.

The export operation permits the export of new products or the opening of new markets.

¹ The maximum coverage rate is 95 % of the insured amount.

² The coverage rate is up to 80 % for manufacturing credit insurance. In exceptional cases, the ASRE may, on reasoned request, increase the coverage rate to at most 95 %.

³ The coverage rate is up to 90 % for the guarantee of Leaps In exceptional cases, the ASRE may, on reasoned request, raise the coverage rate up to the total amount.

⁴ For the rest, the policyholder cannot buy back a percentage of coverage.

¹ ASRE does not insure the risks covered by the market.

² It may insure risks covered by the market where the policyholder does not have sufficient insurance.

³ The distinction between market risks and risks not covered by the market is based on the practice of the European Union.

⁴ ASRE publishes distinction criteria.

¹ The request for insurance may be limited to certain ASRE offers.

² The ASRE determines which risk selection is possible among insurance offers.

¹ Before concluding an export transaction, the applicant may apply to the ASRE for an agreement in principle to the conclusion of the insurance.

² In giving its agreement in principle, the ASRE guarantees that it will conclude the insurance requested if the situation of fact and law does not change significantly.

³ The agreement in principle is for a fixed period of time. The ASRE may, on request, extend it.

The applicant undertakes:

A. ¹ To provide the ASRE with all important information for the conclusion of the insurance contract, in particular as regards corruption, the environment and human rights;

B. To state the facts in a complete and correct manner and to communicate to the ASRE any changes to the facts.

¹ The ASRE shall review the application on the basis of the information provided in writing by the applicant.

² It may require that it provide it, at its own expense, with the information and expert advice it deems necessary for the assessment of risks or the verification of the regularity of the export operation.

³ It may charge all or part of the costs incurred in preparing its decision to the applicant.

¹ The ASRE shall decide on the conclusion of the insurance as soon as the application and examination procedure has been completed and the policyholder has communicated in writing the conclusion of the export transaction or the financing operation relating to an operation Export (base operation). Exceptionally, it may decide on the conclusion of the insurance before the conclusion of the basic operation when the circumstances justify it.

² In its decision, the ASRE may exclude insurance risks, limit the scope of the insurance, or impose charges or conditions.

³ If the ASRE enters into insurance through a public law contract, the situation is resolved as follows:

A.

The insurance is considered entered into with the consignment to the policyholder of the insurance contract duly signed;

B.

If the ASRE deviates from the application or is satisfied with the insurance of charges or conditions, the insurance is considered to be entered into if the policyholder declares to accept the insurance provided by the ASRE; the ASRE shall set a time limit for the agreement to be given.

¹ Apart from the occurrence of a disaster, the ASRE examines contracts for the basic operation provided only in exceptional circumstances, where circumstances warrant.

² The policyholder shall bear the risks associated with any defects in the contract concerning the basic operation (risk of documentation), the applicable law and the forum elected.

¹ The insurance is concluded in Swiss francs.

² On request, it may be entered into in a foreign currency. The ASRE determines which foreign currencies are allowed and under what conditions.

¹ The insurance is based on the information provided in writing during the application process by the policyholder. These are an integral part of insurance.

² The public law decision or contract contains, in particular, the following information:

A.

Documentation of critical facts;

B.

The purpose of the cover;

C.

The risks covered;

D.

The duration of the liability;

E.

The maximum amount;

F.

The rights of the ASRE to change the coverage and give instructions;

G.

Conditions of compensation;

H.

Coverage rates;

I.

The obligations of the policyholder and the consequences of non-compliance.

³ The ASRE sets general conditions for its insurance. These general conditions form an integral part of the decision or contract of public law.

⁴ The ASRE may require the policyholder to take specific surveillance measures for the insured operation and to inform him of the operation of the operation.

¹ The policyholder shall immediately communicate to the ASRE any significant change in the elements on which the insurance is based.

² If an insurance entered into by a public law contract is to be amended, s. 10, para. 3, applies mutatis mutandis.

¹ The ASRE collects:

A.

Administrative premiums for the coverage of its application review costs;

B.

Insurance premiums in return for the insured risk.

² It may request advances.

¹ The premium rate reflects the OECD risk classification model and the principle of self-financing.

² It sets out in particular the principles, types, amounts, surcharges, rebates, collection and refund of premiums.

³ It is subject to approval by the Federal Department of Economics, Training and Research (DEFR) ¹ , which first consults the Federal Department of Finance (DFF).

¹ The policyholder shall immediately announce the claims to the ASRE, no later than two years after their occurrence. For claims, the time limit begins to run at the last documented and notified payment deadline.

² On expiry of the period prescribed in para. 1, the claims to the ASRE are prescribed.

³ If restructuring is possible in order to avoid or reduce damage, the ASRE may, after the fact, insure new risks, in particular additional interest.

⁴ For the rest, the rights and obligations of the ASRE and the policyholder in the event of a disaster shall be settled to the extent possible under the general conditions and, in addition, in the individual conditions of insurance; are In particular: ¹

A.

The conditions for the occurrence of the disaster;

B.

The compensation procedure;

C.

The obligations of proof;

D.

Principles governing cost-sharing before and after compensation;

E.

Prosecution skills and obligations;

F.

The rights of the ASRE concerning the inclusion of insured claims in debt rescheduling and restructuring.

¹ The DEFR establishes a profile that sets out the technical skills of the board members.

² When appointing the members of the Board of Directors, the Federal Council shall take this profile into account and ensure that the interests of the Confederation are properly represented.

³ ... ¹

¹ The appointment of the review body, its term of office and its reporting obligations shall be governed by the provisions of the law of the public limited-liability company concerning the review body, applicable by analogy, if the LASRE does not regulate them.

² The Board of Directors may ask the Federal Council to remove the review body.

³ The review body shall receive compensation based on the work provided.

The Administrative Board may issue the implementing provisions of the Staff Regulations.

¹ The Board of Directors shall lay down the principles to be followed by the ASRE in the field of balance sheet and evaluation. The provisions concerning the finances of the Confederation establish minimum requirements.

² The principles for the establishment of accounts, their amendments and their consequences, and references to recognised standards and the reference values for evaluations shall be published in the Annex to the annual accounts.

³ Provisions are made only for ongoing commitments that are based on a past event.

⁴ The latent risks associated with the commercial activity of the ASRE and which may lead to future commitments are covered by own capital. The principles on the calculation of the capital necessary for the ASRE to cover the risks and the calculation itself are published in the Annex to the annual accounts.

The ASRE provides the evidence provided for in s. 29, para. 2, LASRE with separate headings in the annual accounts.

¹ Where insured claims are included in debt rescheduling or restructuring within the meaning of s. 31 ASRE determines the treatment of the overall debt. The powers of Confederation are reserved.

² Debt reductions of up to 100 % may be agreed under rescheduling agreements within the meaning of s. 7, para. 1, LASRE or during restructuring.

¹ A clearance within the meaning of s. 31, para. 4, LASRE is generally granted when dealing with debt on a stand-alone basis. The Confederation does not grant a clearing for the implementation of rescheduling measures recommended by the Paris Club or in the framework of comparable international conventions to which Switzerland participates.

² Clearing is calculated on the basis of the debtor country's deleveraging, if its deleveraging exceeds what can be expected from its estimated creditworthiness realistically. The ASRE is consulted prior to the decision on the treatment of a debt.

³ Clearing is shared between the ASRE and the policyholder in proportion to their share of debt included in the treatment of the debt.

⁴ The loss of interest income and the potential costs incurred as a result of early repayment of debt obligations in a rescheduling process are not paid off.

The DEFR may independently agree on amendments of limited scope of rescheduling arrangements within the meaning of s. 7, para. 1, LASRE.

¹ The ASRE commitment limit within the meaning of s. 33, para. 2, LASRE is reviewed periodically and if necessary adapted.

² The Management Board shall inform in due course the need to adapt the commitment limit.

The Board of Directors provides the Federal Council with an annual report on the achievement of the strategic goals of the ASRE.

¹ By informing the DEFR in a timely manner, the ASRE Board of Directors enables the Federal Council to provide guidance on the assurance of particularly important export operations.

² Export operations with significant economic, social, environmental and developmental consequences or other aspects of external policy are considered to be particularly important.

Are repealed:

1.

The order of 15 June 1998 on the guarantee against export risks ¹ ;

2.

The Order of the DFE of 18 November 2002 on the minimum share of Swiss added value in the framework of guarantees against export risks ² ;

3.

The Order of the DFE of 1 ^Er December 1998 on currencies liable to give rise to a complementary guarantee in foreign currency contracts ³ ;

4.

The Order of the DFE of 19 August 2002 concerning the classification of importing countries in the categories of countries established in relation to the guarantee against export risks ⁴ ;

5.

The order of the DFE of 8 March 1999 on the collection by economic organisations of emoluments for the guarantee against export risks ⁵ ;

6.

The DFE order of 8 March 1999 concerning the levying of a minimum premium for guarantees against export risks ⁶ .

... ¹

¹ The rights and duties arising from guarantees prior to the entry into force of the LASRE and the promises of guarantee within the meaning of Art. 38 LASRE moves from its own to ASRE. The ASRE may apply the former right to modifications of existing guarantees relating to, inter alia, the increase in the amount of transactions.

² On the basis of the promises of guarantee provided without reservation under the law in force and whose term has not expired at the entry into force of the LASRE, the ASRE shall conclude, upon request, an insurance contract equal to that of the promise of To the extent that the situation has not changed significantly. It deals with these contracts in accordance with the Federal Law of 26 September 1958 on the guarantee against export risks ¹ If the policyholder does not request that the contract be entered into under the new right.

¹ Assets and liabilities as well as duties and obligations are transferred to the ASRE at 1 ^Er January 2007 in accordance with Art. 39, para. 3, let. A, LASRE.

² ASRE submits opening balance sheet to 1 ^Er January 2007 to the approval of the Federal Council by 30 September 2007.

This order shall enter into force on 1 ^Er January 2007.