OECD Consensus Agreement
Officially known as the "Arrangement on
Guidelines for Officially Supported Export Credits", this is a
“Gentlemen’s Agreement” among most of the OECD members. The Arrangement sets
out the most generous terms and conditions that may be allowed for export
credits with a repayment term of two years or more. These include minimum
premium levels, rules around deposit and repayment, and maximum credit
periods. The purpose of this Arrangement
is to limit and eventually eliminate distortions caused by the provision of
export credit.