Presidential Decree No. 294 “On subsidiary liability”.

In order to further improve the comprehensive system of export stimulation and take additional measures to protect the property interests of its participants, the President establishes that the Republic of Belarus bears subsidiary liability for the obligations of the Belarusian Republican Unitary Enterprise of Export-Import Insurance "Beleximgarant" to pay insurance compensation arising from contracts of insurance (reinsurance) of export risks with state support. Subsidiary liability of the Republic of Belarus for the obligations of Beleximgarant to pay insurance compensation arising from contracts for insurance (reinsurance) of export risks with state support occurs in the presence of one of the following circumstances: (a) insufficient capital of Beleximgarant to pay insurance compensation under contracts; and (b) the amount of insurance compensation under contracts concluded in relation to one counterparty of the insured (reinsured) exceeds 5 percent of Beleximgarant's own capital (upon application of Beleximgarant).