Other OECD Regulations and International Sanctions

Abstract

The second part of the international framework ECAs apply is the OECD regulation on combating bribery in international business transactions, environmental and social impacts and sustainable lending practices. This regulation is agreed upon internationally and it has become increasingly important for ECAs because ECAs may be prevented from issuing the cover in transactions that do not satisfy all international requirements. This regulation refers to other international documents that provide principles, criteria and requirements that must be satisfied in transactions for which ECA cover is requested. ECAs may have other requirements and apply criteria that are provided in their national legislation or agreed internationally. In addition to the OECD regulation and the international documents to which this regulation refers, ECAs also implement international sanctions imposed multilaterally or unilaterally. The issues analysed in this chapter are very broad and should be analysed in a separate study. However, this book addresses them in this chapter only.