Article 5-(2).　The Government may, in a case where an exporter has exported goods specified by Cabinet Order on an export contract, underwrite an insurance to be known as export credit insurance (hereinafter referred to as "B class insurance" ) to compensate the less (excluding the loss incurred on export goods) which the exporter suffered from failure in collecting the price of the said export goods due to the causes mentioned in each of the following items:

2　The Government shall, when it has accepted an application for a contract of insurance, prepare an insurance policy and give it to the party to the insurance contract.

3　The Government shall underwrite B class insurance within the limit where the total sum of the amount insured of B class insurance underwritten during a fiscal year, is not in excess of the amount of money approved by resolution of the National Diet.

Article 5-(3).　In the B class insurance, the price of the goods exported on the export contract (when payment of the price is made in two or more different times, the part of the price to be paid at one time;hereinafter the same) shall be made the insurable value.

2　In cases where the amount insured of the B class insurance is in excess of the sum obtained by multiplying the amount of the insurable value by the ratio fixed by Cabinet Order within the limit of eighty per cent, the contract of insurance shall be null and void in respect to the part in excess of the sum.

Article 5-(4).　The amount of money to be compensated by the Government under the B class insurance shall be the amount of money obtained when the sum which the exporter can not, on account of causes falling under any one of the items of Article 5-(2) paragraph 1, collect by the time of payment (on account of the cause falling under item (5) of the same paragraph, by the time when six months have elapsed since the time of payment;hereinafter the same), minus the amount of money referred to in each of the following items, is multiplied by the ratio, against the insurable value, of the amount insured:

Article 5-(5).　In cases where any of the party, insured person or beneficiary of B class insurance has violated the provisions of the insurance contract, the Government may refuse the payment of the whole or a part of the insurance money or have the whole or a part of the insurance money returned.

Article 5-(6).　The rates of insurance premiums for reinsurance of A class insurance and for B class insurance shall be determined by Cabinet Order so as to cover all the insurance money paid by the Government and administrative expenses of the Government incurred in the enforcement of this Law.