Removal of special handling arrangements
Published 24 April 2017
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This publication is available at https://www.gov.uk/government/publications/ukef-removes-special-handling-arrangements-for-agents-identities/removal-of-special-handling-arrangements
1. Existing arrangements
Since 1st July 2006, UK Export Finance (UKEF) has offered applicants the option to request special handling arrangements. These arrangements allowed an applicant to disclose the identity of an agent in such a way that knowledge of the identity of the agent is restricted to only three members of UKEF staff. Those staff carry out, and approve or otherwise, all due diligence related to the identity of the agent.
All other details in relation to an agent, such as legality, level of remuneration etc. are handled by the transaction team as part of normal due diligence conducted before UKEF is able to offer support for a transaction.
2. What’s changing
Special Handling Arrangements are no longer available to exporters applying for UKEF support. This means that an agent’s identity will be available to staff in UKEF’s underwriting team to complete the necessary due diligence in the normal course of providing support to an export transaction.
3. Why we’re making these changes
UKEF is committed to high standards and good practice in matters relating to anti-bribery and corruption, and recognises the importance of transparency. For this reason, and to streamline its application process, Special Handling Arrangements are no longer available to exporters applying for support from UKEF.