BRITISH TRADE
NEW SCHEAIE TO ATD ENTERPRISE Dbiu.4 Press Assn, by El. Tel. Copyrifrh) (United Service.) (Received Nov. 2, 8 p.m.) LONDON, Nov. I. After prolonged negotiations with the banks, a new form of contract has been evolved under the Government 9 export credits guarantee to aid British enterprise on foreign markets. The “Big Five,” as well as the provincial and overseas hanks, have undertaken to recognise new contracts as a satisfactory security for advances which will be exported thereunder by the payment' of a premium of 10s in the £ I>or cent. They can obtain the overseas Trade Department’s guarantee against loss to the extent of 75 per cent. The Daily Telegraph, in an editorial, says: “This is a novel* method and will help the British exporter to accord longer' credit than 110 could otherwise afford to Dominion, and foreign customers. The scheme will enable the hanks to co-operate' with the Government- in giving a further stimulus to our exports and provide more employment for our workmen,”.
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Bibliographic details
Gisborne Times, Volume LXVIII, Issue 10734, 3 November 1928, Page 5
Word Count
167BRITISH TRADE Gisborne Times, Volume LXVIII, Issue 10734, 3 November 1928, Page 5
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