Service Level Agreement
NAIF has a dedicated team of its own staff and is supported in its day-to-day operations through a Service Level Agreement (SLA) with Export Finance Australia (also known as Export Finance and Insurance Corporate or Efic). The SLA is for a term which extends until the last NAIF loan is expected to be repaid.
Export Finance Australia has been in operation for over 60 years and has approximately 100 staff. Like NAIF, Export Finance Australia is a Corporate Commonwealth Entity under the PGPA Act. Export Finance Australia is an experienced financier with expertise in managing large and complex lending transactions.
NAIF has the flexibility under the SLA to use Export Finance Australia to provide services, to use its own resources or access other resources as required.
The services provided by Export Finance Australia to the NAIF, and provided for under the SLA, fall into two broad categories:
- Transaction due diligence, environment and technical review, credit assessment, and loan management; and
- Corporate and administrative services (including legal, compliance, financial management and reporting, human resources, information technology and communications, property management).
Export Finance Australia also assists NAIF in managing its arrangements with the States and Territory.
Under the SLA, NAIF can access resources from Export Finance Australia on an as needs basis. This allows NAIF to be responsive and agile in managing its resources to efficiently and effectively meet business and proponent needs. It also means that since NAIF was established it has been able to leverage the resources, policies and procedures of Export Finance Australia (and other similar Government agencies) to support it in the framing of its own best practice governance framework.
The SLA arrangements ensure an efficient use of existing Commonwealth resources, reducing the duplication of ‘back-office’ resourcing requirements across government entities.