Liability of insurance contracts: Export finance: Definition of a
Paragraph 13(2) of Schedule 7A to the Finance Act 1994 defines a “relevant contract” as:
(a) a contract to make a relevant supply of goods, or a supply of services, or both, to an overseas customer;
(b) a contract to supply goods to a person who is to-
(i) export those goods; or
(ii) incorporate those goods in other goods which he is to export, where the condition mentioned in sub-paragraph (3) below is satisfied;
(c) a contract to supply to a person who is to export goods services consisting of the valuation or testing of, or other work carried out on, those goods where the condition mentioned in sub- paragraph (3) below is satisfied;
(d) a contract to supply services to a person in order that he may comply with a legally binding obligation to make a supply of services to an overseas customer.
Paragraph 13(3) of Schedule 7A, defines the condition mentioned in paragraphs 13(2)(b) and (c) as follows:
… the goods to be exported are to be exported in order that the person exporting them may comply with a legally binding obligation to make a relevant supply of goods to an overseas customer.