EFIC is a Commonwealth authority and its Board members and employees are subject to various obligations under the Export Finance and Insurance Corporation Act 1991 (Cth) ("EFIC Act") and the Commonwealth Authorities and Companies Act 1997 (Cth) ("CAC Act"). EFIC employees are also subject to a Code of Conduct.
The EFIC Board is responsible for the corporate governance of EFIC, managing its affairs and overseeing its operations. EFIC imposes a strong commercial discipline on governance and risk management through its governance framework.
EFIC is part of the Australian Government’s Foreign Affairs and Trade Portfolio and the Minister for Trade and Competitiveness is responsible for EFIC. Read more about EFIC’s accountability to the Minister and to the Australian Parliament. A key obligation imposed on EFIC by the CAC Act is to produce for each financial year an Annual Report, which is tabled in federal Parliament.
One of the requirements imposed on Board members and employees by the EFIC Act is to keep information about clients confidential. Read more about confidentiality obligations.
As EFIC's mission is to help Australian exporters to overcome financial barriers, the level of Australian content in an export contract is an important factor in determining the amount of financial support that EFIC it is able to provide. Read a summary of EFIC’s Australian content guidelines.