"Направляющей стороны" - of the sending party
The other part of the sentence may seem confusing because of the word order:
правительственные гарантии предоставляются "Принимающей стороной", the receiving party must provide a government guarantee

I.e. the sending party's insurance company will assume liability for the insurable interest and/or the receiving party will arrange for this insurable interest to be guaranteed by the government

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Insurable interest:

Any interest a person has in property that is the subject of insurance, so that damage to the property would cause the insured a financial loss or other tangible deprivation. Generally, an insurable interest must be demonstrated when a policy is issued and must exist at the time of a loss.
http://www.proz.com/kudoz/russian_to_english/insurance/11023...