But WEA won't be going back over the books in light of the current financial crisis and it can't be held responsible if an exporter goes bust.

WEA's chief executive officer, Peter Woods, said this week that his board took a thorough look at every element of finance and risk management of the companies which applied to export wheat under the newly deregulated system.

He says there was "sufficient room" for all accredited companies to meet their new business proposals.

So far, 19 companies have been accredited to export under the new marketing arrangements and WEA is still receiving applications.

Last week, WEA, however, made it clear that WEA does not indemnify exporters or provide guarantees relating to growers contracts or payments of any kind - the sale and marketing of wheat remains the responsibility of the grower.

This is despite the Rudd Government promising the new system would offer farmers the appropriate safeguards to protect them in the new multi-seller market.

Mr Woods says he is confident the safeguards are in place for farmers dealing with these newly accredited wheat exporters for the first time.

"As far as the WEA is concerned the board is happy that when they accredited these companies they were capable of exporting to the amount of their proposal," he said.

"The board was very happy with all the financial situations of everyone they accredited."

Mr Woods says WEA goes through a system for accrediting exporters which includes looking at probity and performance issues, finances and risk management.

"As the WEA, we look at whether they have sufficient liquidity in the forms of bank guarantees and working to support their export proposal," Mr Wood says.

"In submitting their application form, companies tell us what they intend to export, not only for this coming harvest but the following two after that.