council direct februari harmonis basic provis respect guarante short term transact polit risk public buyer privat buyer eec council european commun regard treati establish european econom commun regard propos commiss export credit primari import intern trade import instrument commerci polici system export credit insur forc member state give rise distort competit commun undertak market countri harmonis system export credit insur facilit oper undertak member state harmonis achiev type transact mean common polici mean common provis relat element basic competit concern present guarante transact repres larg smaller percentag export short term field medium term field sector privat credit insur compani oper confin harmonis sole cover polit risk reject idea draw common polici confin harmonis element basic competit concern adopt direct articl subject provis annex council direct no eec eec octob member state adopt measur law regul administr action put forc harmonis provis short term transact set annex direct articl member state ensur credit insur organis guarante account support state insur transact fall scope harmonis provis accord term laid provis specif rule adopt council articl type polici harmonis provis appli transact includ credit risk twenti month credit risk guarante manufactur risk cumul period twenti month manufactur risk twelv month conclud public buyer privat buyer supplier credit basi provis harmonis direct concern guarante respect polit risk oj pp definit quot public buyer quot quot privat buyer quot contain articl direct eec articl direct eec appli articl advisori committe export credit insur set articl direct eec consult commiss problem relat uniform applic direct articl direct address member state brussel februari council presid schumann annex harmonis provis guarante short term transact polit risk public buyer privat buyer articl definit credit risk definit includ polici provid qualifi period claim shorter month articl list event constitut loss basic list compris event inclus set articl common polici medium long term transact public buyer privat buyer case public buyer includ event articl common polici medium long term transact public buyer basic list amend credit insur organis provid amend involv extens cover afford mention list articl extent guarante guarante appli amount ow insur princip interest exclud interest arrear penalti damag payabl debtor articl percentag guarante insur retain exclus account respons portion guarante credit insur organis articl gener principl indemnif principl observ insur requir conclus perform guarante transact exercis reason usual care skill forethought requir appli equal conduct agent contractor contractor insur respons obtain authoris complet legal formal includ incumb debtor entri forc contract invalid debt indemnifi articl gener principl appropri payment receiv proce realis secur polici includ rule appropri ensur payment recoveri whatsoev receiv insur appropri unguarante debt prioriti guarante debt articl gener principl recoveri polici observ principl recoveri share credit insur organis insur