IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 30 Jun 2014 | Removal date: open ended
Still in force

Trade finance

On 28 August 2014, the Australian export credit agency Efic published its 2013/14 annual report. The report included a list of all beneficiaries of trade finance for the given fiscal year.
One of these beneficiaries was Bank Support Clients, where Efic joined a risk participation agreement worth 21.22 million AUD (Efic's participation) for the company's coking coal exports. The Annual Report did not mention the destination markets. However, since Australia exported coking coal worth more than 1 million USD only to seven jurisdictions in 2013, the affected trading partners were based on those seven export destinations.
Given that Efic does not provide the exact date that the trade finance deal was signed, the most conservative date, i.e. the 30 June 2014, was set as the inception date.
 

AFFECTED COUNTRIES

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TABLE
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AFFECTED SECTORS AND PRODUCTS

331 Coke & semi-coke of coal, of lignite or of peat; retort carbon
2704 Coke and semicoke of coal, of lignite or of peat, whether or not agglomerated; retort carbon.
270400 Coke and semicoke of coal, of lignite or of peat, whether or not agglomerated; retort carbon.

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