Restrictive cover on Bangladesh

Wednesday, 7 February, 2007

Parliamentary elections in Bangladesh initially scheduled for january 2007 postponed due to civil unrest.

The next parliamentary elections in Bangladesh were initially scheduled for January 2007. Due to serious civil unrest in the build-up to the elections they have been postponed to a date to be determined later. Violent protests and massive strikes the last few months have led to a very critical security situation. The Netherlands Ministry of Foreign Affairs is therefore demanding great caution in travel and business in the country.

Based on these unfavourable developments, Atradius has decided to introduce a signing clause[1]. As part of this signing clause, the risk assessment of the local provision of services will play an important role in underwriting decisions.

If you wish to know more about our medium term country policy on Bangladesh, do not hesitate to contact Marijn Kastelein (+31 (0)20-553 2403, marijn.kastelein@atradius.com).

[1]A signing clause for a contract that is not already signed means that the policyholder is not allowed to sign before permission in writing has been given by Atradius.