Coface to Cover Export Development Canada Domestic Receivables

June 29, 2005

Export Development Canada (EDC), Canada’s export credit agency, and the Canadian arm of Compagnie Française d’Assurance pour le Commerce Extérieur SA (Coface), an international business-to-business trade facilitator, have entered into an agreement for the provision of domestic receivables cover to EDC’s short term insurance customers. The pact enables Canadian exporters who receive insurance cover for their export receivables from EDC to obtain cover for their domestic receivables from Coface.

Export Development Canada (EDC), Canada’s export credit agency, and the Canadian arm of Compagnie Française d’Assurance pour le Commerce Extérieur SA (Coface), an international business-to-business trade facilitator, have entered into an agreement for the provision of domestic receivables cover to EDC’s short term insurance customers. The pact enables Canadian exporters who receive insurance cover for their export receivables from EDC to obtain cover for their domestic receivables from Coface.

“This strategic alliance brings over 120 years of combined experience to serve the needs of our customers for domestic and export insurance, using a one-stop shopping approach,” stated Pierre Gignac, EDC Sr. VP – short term financial services. “In providing this service, EDC ensures its customers have access to the insurance tools they may need in order to be successful on the international stage,” he added.

“We take great pride in the fact that EDC has selected Coface for this arrangement and we share EDC’s commitment to Canadian businesses. We have a long history of underwriting trade risk in Canada. This expertise, combined with our enthusiasm for the project, will ensure its success,” noted Michael Ferrante, President of Coface North America, Inc. “EDC is the recognized leader in customer service for the Canadian commercial trade credit market. We have made a commitment to uphold this high standard for our joint policy holders.”

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