Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) EFIC may enter into a contract under which an indemnity or guarantee is given to a person in relation to a tender or proposed tender for, or in relation to the performance of, a contract or proposed contract that is, or will be:
(a) an export contract; or
(b) either in whole or in part, an eligible export transaction; or
(c) a contract associated with such a transaction.
(2) Subsection (1) applies to a contract which, however expressed and in whatever form, is in substance an indemnity or guarantee.