Unconditional guarantee

Export contracts for civil aircraft weighing more than ten tonnes at take-off and civil helicopters weighing more than one tonne at take-off.

The financed operations are structured financing operations with security on assets.

• The granting of the guarantee is made within the framework of the OECD Arrangement, in accordance with the conditions of the ASU agreement defined in Annex III “Sector Understanding on Export Credits for Civil Aircraft” applicable.
• The contractual and financial documentation is drawn up by Bpifrance Assurance Export via its lawyers.

• Aircraft suppliers or their subsidiaries;
• Credit institutions and financial institutions under French or foreign law;
• Insurance and reinsurance companies, mutual societies and provident institutions under French or foreign law;
• Organizations mentioned in Article L.214-1 of the Monetary and Financial Code;
• ​As an exception and to take into account competitive practices; French or foreign company having issued bonds as part of financing export operations.

• File opening fees to be paid and possibly renewal fees (DOD).
• The costs incurred by Bpifrance Assurance Export (travel expenses, legal fees) are the responsibility of the airline or operational lessor.
• Applicable premiums are subject to quarterly review. Each review is published on the OECD website.

• The guarantee promise is valid for 6 months (Conditions for granting a pure unconditional guarantee promise)
• Coverage is 100%
• The guarantee is unconditional: it does not have any event giving rise to a claim, the risk covered being the risk of non-payment (whatever the cause of this non-payment) of the debt by the debtor which may be:
  • the tenant-debtor (in the case of a lease)
  • or the borrower (in the case of direct credit)
• Bpifrance Assurance Export mandates a law firm representing export credit agencies, at the expense of the lenders and/or the debtor.
• Warranty appeal period: 15 days minimum, plus a technical delay of 5 days