As a Commonwealth authority, EFIC, its Board members and employees are governed and 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 is required to produce for each financial year an Annual Report, which is tabled in the Federal Parliament.
EFIC employees are also subject to a Code of Conduct and are required to keep information about clients confidential. This requirement of confidentiality also applies to Board members. The EFIC Act permits EFIC to publish only a limited amount of informaiton about its transactions.
EFIC is part of the Australian Government’s Foreign Affairs and Trade Portfolio and the Minister for Trade is responsible for EFIC. Read more about EFIC’s accountability to the Minister and to the Federal Parliament.
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 partially exempt from freedom of information legislation. The partial exemption and the strong secrecy obligation imposed on EFIC recognises the need to keep confidential the commercial information EFIC obtains from Australian exporters and investors. 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.