# Council Directive of 27 November 1984 concerning the reciprocal obligations of export credit insurance organizations of the Member States acting on behalf of the State or with its support, or of public departments acting in place of such organizations, in the case of joint guarantees for a contract involving one or more subcontracts in one or more Member States of the European Communities (84/568/EEC), Article 3: Obligations of each of the joint insurers

Extent: E+W+S+N.I.

Each of the joint insurers shall, for his part, undertake:
(a) to guarantee the subcontractor in his country, in respect only of the latter's part of the operation, against the risks defined by him in each individual agreement;
(b) not to accept any modification to the contract concluded between the principal contractor and the subcontractor for the performance of the contract concluded with the buyer, except by mutual agreement with the principal insurer;
(c) not to disclaim liability under the provisions of the policy issued to the subcontractor in consequence of any default on the latter's part, without notifying the principal insurer thereof;
(d) not to declare that the policy has lapsed without notifying the principal insurer thereof;
(e) to notify the principal insurer of any fact which comes to his knowledge and which might alter the nature or extent of the risk or lead to a loss;
(f) in the event of cancellation of the guarantee given to the subcontractor, to use his best endeavours to comply with the obligations set out in this Article.

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Source: https://www.legislation.gov.uk/eudr/1984/568/annex/article/3 (the official version)
Page: https://openlegislation.uk/eu-directive-1984-568/annex/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.