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Jurisdiction(s):
United Kingdom
Key definition
Goods definition

What does Goods mean? In legal practice, goods are tangible, movable items that are bought, sold, supplied or hired under commercial or consumer contracts. Across the UK and Ireland, legislation defines the term: the Sale of Goods Act 1979 (England & Wales and Scotland), the Sale of Goods Act (Northern Ireland) 1979, and in Ireland the Sale of Goods Act 1893 as amended by the 1980 Act. Broadly, goods comprise all personal chattels (in Scotland, all corporeal moveables) other than money and things in action. The statutory definition includes emblements and industrial growing crops, and items attached to or forming part of land...

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Export Credit Agencies: a practitioners' guide to purposes, products, OECD Arrangement, green reforms, key documentation and intercreditor considerations

Practice notes
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Exporters aiming to take their Goods or services into overseas markets often face significant exposure as they pursue new business. The likelihood of non‑payment in such environments increases where there is elevated:

  • commercial risk (ie failure to pay by an overseas buyer, the buyer’s Insolvency, unilateral Breach of contract, non‑performance of the asset, or non‑payment by off‑takers), and
  • political risk (ie the risk that government action or political circumstances will adversely affect local business and/or international investment)

For certain goods or services, or in particular markets, these risks can materially restrict the availability of commercial financiers; in the absence of Export Credit Agency (ECA) support, many projects may never get off the ground. ECAs step into this gap to help mitigate the commercial and/or political risks inherent in dealing with an overseas business, providing a vital source of financial backing to project developers, exporters or importers with their sights set on distant horizons. Increasingly, ECAs are playing an active role in facilitating national export and trade policies. Trade finance could be vulnerable in times of economic crises...

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Dimitri Papaefstratiou
Dimitri Papaefstratiou

Dimitri is a senior project finance lawyer with a strong track record of advising major clients in connection with complex energy and infrastructure projects. Dimitri acts for sponsors, lenders and tendering authorities on a wide range of projects across the Mediterranean, Africa and across EMEA. His focus is on energy, including oil & gas, hydrogen, renewable energy and high-efficiency thermal and gas-fired power projects. Dimitri is listed as a “Leading Partner” in the London market by Legal 500 for both Power and Oil & Gas (including renewables) and is the only law firm partner to be listed in both such categories....

Joseph Lam
Joseph Lam

Joseph’s practice focuses on energy, power, infrastructure and other projects and the related financings. He is experienced in acting for acquirers, project sponsors, investors, commercial banks and public sector lenders such as ECAs and DFIs in projects. Many of these projects involve complex multi-tranche financing structures consisting of loans from commercial lenders and DFI and ECA backed financing.Joseph previously practiced for a considerable period in Hong Kong during which time he worked on many transactions related to China and the wider Asian region....

Emmanuel Olawore
Emmanuel Olawore

Emmanuel is a corporate lawyer advising clients on cross-border mergers and acquisitions, joint ventures, divestitures, private equity, and venture capital transactions across EMEA regions, particularly within the energy and infrastructure sector. In addition to his corporate practice, Emmanuel also has a range of experience representing sponsors, investors, and lenders on project finance and development transactions, and advising development finance institutions on a broad range of investments in Africa, Asia, and the Middle East. ...

Web page updated on 21/05/2026

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