French Insurance Code
In forceI. - The granting of the guarantee, except when it is granted to a credit institution, finance company, insurance and reinsurance company, mutual insurance company and provident institution, under French or foreign law, or a body referred to in article L. 214-1 of the Monetary and Financial Code, is subject to compliance, by the French company taking part in the transaction concerned by this guarantee, with the following two conditions:
1° The company is involved directly or under the conditions set out in article R.442-8-13 in the transaction for which it is requesting a guarantee as a supplier, investor, operator, service provider, subcontractor, financier, customer or concessionaire;
2° The company is established in France.
II. - The transaction covered by the guarantee represents an amount in excess of 10 million euros.
III. - The guarantee may only be granted if it is necessary to substantially improve the conditions of participation of the French company in the transaction concerned by this guarantee, or if there is a risk that, in its absence, financing difficulties will jeopardise its completion.
IV. - The guarantee is granted under the following conditions:
1° It may not cover more than 80% of the amounts due to the beneficiaries of the guarantee ;
2° Its duration may not exceed that of the financial commitments granted to the debtor as part of the transaction or that of the commercial commitments of the French company taking part in the transaction;
3° The remuneration for granting the guarantee is in line with market prices, taking into account the financial health of the debtor, the collateral offered and the duration of the guarantee;
4° The debtor is not a company in difficulty within the meaning of Regulation (EU) 2014/651 declaring certain categories of aid compatible with the internal market.
