Does WEA take into account the financials of parent companies of new applicants? How does WEA check parent company guarantees?


When considering whether an applicant is ‘fit and proper’, WEA may consider the financial resources available through a related body corporate and the support it can provide to the applicant in carrying out its export proposal. For example, a parent company could provide a written assurance that it will honour all financial commitments of the subsidiary seeking accreditation. This will only be considered in favour of the applicant where WEA is satisfied that the resources of the related body corporate are, and will continue to be, available to the applicant through binding legal arrangements between the entities.

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