Our approach to economic development in Sahel and sub-Saharan Africa emerging and frontier markets is a bottom-up private sector approach and US FED Group is open to public partnerships where such opportunities embrace market models of capital development for self-sustainment and are market base driven.
We are dedicated to Export of US goods and services and Import of SSA trade with the United States. We believe in one word: excellence. We think this commitment shows in all our products and services.
Our working principles are to support and service private-public partnerships in the development of infrastructure, revitalization and modernization of economies of Sahel and sub-Saharan Africa emerging and frontier markets and elsewhere.
Key to our working principles is fostering the development of private-sector in economies Sahel and sub-Saharan Africa emerging and frontier markets and elsewhere in line with free and fair trade partnerships without imposing foreign customary standard operating procedure anathema to markets we work in and with, albeit compliant with and in line with US policies. Read our policy regarding US Foreign Corrupt Practice Act compliance.
We pride ourselves on understanding the unique problems and opportunities in the financial solution for US principal as investor and or exporter and the SSA principal challenges in closing development - transactions. Our Special Representative in country are the most important asset of US FED Group. We are dedicated to servicing the socio-economic development of SSA emerging and frontier markets through access to US capital development, goods and services.
Short Term Insurance
Short term insurance are used for financing of export of U.S. consumer goods, raw materials and spare parts on terms up to 180 days, and bulk agricultural commodities, such as rice, consumer durables and capital goods on terms of up to 360 days.
Short Term policies generally cover 100 percent of the principal for political risks and 90-95 percent for commercial risks, as well as a specified amount of interest.
Export Credit Insurance
USG export credit agencies extension of insurance or guarantee where applicable protects US FED Group as Exporter against the risks of non-payment by foreign principals for political and commercial circumstances arising. Our working relation with USG credit agencies, also provides working capital loans for U.S. exporters, where necessary.
To qualify for USG credit agencies financial products, the product or service of import interest, must have significnt U.S. content and must not adversely affect the U.S. nor the local emerging or frontier market economies.
Foreign Corrupt Practices Act (FCPA) and Other Anti-bribery Measures
U.S. firms and individuals seeking to do business in foreign markets must be familiar with the Foreign Corrupt Practices Act of 1977 (FCPA), 15 U.S.C. §§ 78dd-1, et seq., which, in general, prohibits corrupt payments to foreign officials for the purpose of obtaining or keeping business. The antibribery provisions of the FCPA make it unlawful for a U.S. person, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of obtaining or retaining business for or with, or directing business to, any person. They also apply to foreign firms and persons who take any act in furtherance of such a corrupt payment while in the United States. Consistent with the FCPA, the Organization for Economic Cooperation and Development (OECD) has brought about anti-bribery recommendations to combat bribery of foreign public officials in international business transactions, which the U.S. Government has agreed to follow in its export credit practices.
Congress enacted the FCPA to bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the American business system. Several firms that paid bribes to foreign officials have been the subject of criminal and civil enforcement actions, resulting in large fines and suspension and debarment from federal procurement contracting, and their employees and officers have gone to jail. To avoid such consequences, many firms have implemented detailed compliance programs intended to prevent and to detect any improper payments by employees and agents. US FED Group reserves the right to require that exporters and, where appropriate, applicants, disclose, upon demand: (i) the identity of persons acting on their behalf in connection with the transaction, and (ii) the amount and purpose of commissions and fees paid, or agreed to be paid, to such persons.
Parties doing business with US FED Group are encouraged to develop, apply and document appropriate controls to combat bribery. More information about the FCPA, is available from the U.S. Department of Justice website.