{
  "url": "https://openlegislation.uk/finance-act-1994/schedule-7A/paragraph-15",
  "json_url": "https://openlegislation.uk/finance-act-1994/schedule-7A/paragraph-15.json",
  "legislation": "ukpga/1994/9",
  "legislation_title": "Finance Act 1994",
  "legislation_url": "https://openlegislation.uk/finance-act-1994",
  "path": "schedule/7A/paragraph/15",
  "kind": "paragraph",
  "number": "15",
  "heading": null,
  "text": "(1) A contract falls within this paragraph if it relates only to the provision of a relevant financial facility and the conditions mentioned in sub-paragraph (2) below are satisfied.\n(2) The conditions referred to in sub-paragraph (1) above are that—\n(a) the person to whom the relevant financial facility is provided is an overseas customer;\n(b) it is provided in order that he may comply with a legally binding obligation to receive a relevant supply of goods, or a supply of services, or both, from a person carrying on business . . .; and\n(c) the contract of insurance insures against risks arising from or in relation to either or both—\n(i) credit,\n(ii) suretyship.\n(3) For the purposes of this paragraph a relevant financial facility is—\n(a) the making of an advance;\n(b) the issue of a letter of credit or acceptance of a bill of exchange;\n(c) the giving of a guarantee or bond; or\n(d) any other similar transaction entered into in order to provide a customer with the means to pay, or a supplier with the right to call upon a third party for, the consideration for goods or services.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 7A para. 15(2)(b) omitted (1.1.1997) by virtue of S.I. 1996/2955, art. 2"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. 7A para. 15(2)(c) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 346(11)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words repealed",
      "affecting": "ukpga/2012/5",
      "affecting_title": "Welfare Reform Act 2012"
    },
    {
      "type": "words repealed",
      "affecting": "nisi/2015/2006",
      "affecting_title": "The Welfare Reform (Northern Ireland) Order 2015"
    },
    {
      "type": "words repealed",
      "affecting": "nisi/2015/2006",
      "affecting_title": "The Welfare Reform (Northern Ireland) Order 2015"
    },
    {
      "type": "repealed",
      "affecting": "nisi/2015/2006",
      "affecting_title": "The Welfare Reform (Northern Ireland) Order 2015"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1994/9/schedule/7A/paragraph/15",
    "retrieved_at": "2026-10-29T09:34:21.412655+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}