The financial issues involved the control of Iraqi oil revenues, the disposition of $400 billion of debt owed by Mr. Hussein's government, and contracts approved and financed through the United Nations' oil-for-food program.

An exporter would approach the UK bank concerned for details and then apply to have their contracts financed through the line of credit.

Accounts Receivable arising from contracts or subcontracts being financed; also additional personal guarantees or insurance may be requested.

Funds may be borrowed against each invoice of the contract(s) being financed.

The STLP provides revolving lines of credit to finance accounts receivable and other short-term costs of performing the contract(s) being financed.

In fact, the liability issue may become even cloudier because airports will soon be able to replace T.S.A. screeners with screeners employed by private security companies working under contracts financed by the federal government.

This plan stipulates that any contracts financed or co-financed by the World Bank must be put up for competitive bidding, and there are tight rules for maintaining accountability.

You also state: 'In the year to March 1992, Japanese firms won 31% of the contracts financed by their country's aid.'

The World Bank said today that because the United States had fallen behind on contributions, American contractors would be prevented from bidding on about $2.1 billion worth of contracts financed by other nations.

For two years the Suffolk County Society for the Prevention of Cruelty to Animals had a $35,000-a-year contract financed from fees for dog licenses.