Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) EFIC may enter into export payments insurance contracts with, or for the benefit of, persons carrying on business or other activities in Australia.
(2) An export payments insurance contract is a contract of insurance against risk of direct or indirect monetary loss or other detriment resulting from failure to receive payment in connection with, or otherwise arising out of, acts or transactions in the course of, or for the purposes of, Australian export trade.