Restrictive cover on Sri Lanka

Tuesday, 9 January, 2007

Restrictive cover on Sri Lanka

The armed conflict in Sri Lanka between the Tamil rebels and the Sri Lankan army has intensified over the last few months. Continuous fighting is taking place in the North and East of the country. Furthermore several bomb attacks have been carried out by Tamil rebels on different targets in Colombo, Habarana and Galle.

Based on these unfavourable developments, Atradius has decided to introduce a signing clause¹. 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 Sri Lanka, 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.

A signing clause for a signed contract which has not come into effect yet and for which an act of the policyholder is necessary, means that this act should not be carried out before permission in writing has been given by Atradius.