HELPING EXPORT.
New Scheme Of Extended I Credits. BANKS AND STATE COMBINE. (Australian and N.Z. Press Association.) LONDON, November 2. After prolonged negotiations with the banks a new form of contract has been evolved tinder the Government's export credits scheme for guarantees to aid British enterprise in foreign markets. The "Big Five" banks, as well as the provincial and overseas banks, have undertaken to recognise the new contracts as a satisfactory security for advances on goods exported under them. By the payment of a premium of from 10/ to 20/ per cent shippers can obtain a guarantee from the Overseas Trade Department against loss to the extent of 75 per cent. The "Daily Telegraph" says this novel method will help tha British exporter to accord longer credit than he could otherwise afford to Dominion and foreign customers. The scheme will enable the banks to co-operate with the Government in giving a further stimulus to British exports, and will P£™"|, »more employment for British workmen.
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Auckland Star, Volume LIX, Issue 261, 3 November 1928, Page 9
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164HELPING EXPORT. Auckland Star, Volume LIX, Issue 261, 3 November 1928, Page 9
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