6. Covering risks taken by companies

The security of trade receivables owed by companies carrying out work abroad requires a minimum of guarantees to protect the exporter against political and commercial risks that could jeopardize the normal collection of sums owed.

• In France, the risk of insolvency of foreign buyers is likely to be insured by a particular insurance company authorized to insure against ordinary risks in France.

• On the other hand, political risks, which can be of considerable magnitude, have remained outside their remit since the French government set up the Compagnie française d'assurance pour le commerce extérieur (Coface) in 1946 to provide a public export credit insurance service, with the aim of guaranteeing the successful completion of the country's foreign trade operations.

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