French Insurance Code
In forceApplications for guarantees are sent to the body referred to in article L. 432-2 , which examines them and submits them to the Commission des garanties et du crédit au commerce extérieur (Guarantees and Foreign Trade Credit Commission); the Minister for the Economy, after consulting the Commission, grants or refuses the guarantee.
After receiving the opinion of the Commission des garanties et du crédit au commerce extérieur, the Minister responsible for the economy determines which cases must be submitted to the Commission by the body before the guarantee is issued and which cases must be reported to the Commission alone. For the latter, it sets the general framework of conditions under which the guarantee may be granted.
In the latter case, the guarantee is signed, in the name and on behalf of the State, by the chief executive of the body referred to in article L. 432-2, who may delegate his signature to :
1° Employees of the body under his hierarchical authority ;
2° Employees of the group to which this body belongs, who are placed at its disposal and who participate, under the functional authority of its general manager, in the appraisal and issue of guarantee applications granted on the basis of either aa of 1° or the last paragraph of article L. 432-2.
The list of delegatees is made available to the State representative mentioned in article L. 432-4-1.
