ANNOUNCEMENT 20 Mar 2009

In March 2009, the Swiss government announced a change in its trade finance instruments.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 01 May 2009 | Removal date: 29 Dec 2015
Still in force

Trade finance

On 20 March 2009, Switzerland passed the Law on the Temporary Extension of Insurance Services of the Swiss Export Risk Insurance (henceforth: SERV).
Based on the implementation of this law, the following instruments were introduced by SERV in 2009:

  • counter guarantees
  • working capital insurance
  • letter of credit confirmation insurance
  • refinancing guarantees.

To be eligible for support from SERV, the exporter must be registered in Switzerland and produce at least 50% of the value added of the product in the Helvetic Republic. In certain cases, the foreign content ceiling may reach 70%.
No concrete figures were provided concerning the extent of the programme. However, according to a federal report (cf. Sources), the new instruments cost around 390 million CHF in 2009 and, for instance in 2010, 1.2 billion CHF.
The law came into force on 1 May 2009 and was initially planned to be implemented until 31 December 2011. It was later extended for another four years.
The list of affected trading partners is based on the mentioned investment worth more than 10 million CHF on SERV's website (cf. Sources).

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A