About the product
Who can apply?
GIEK issues a guarantee ensuring that the exporter is paid within the agreed time. The guarantee is applicable if the buyer goes bankrupt or experiences problems paying.
What does the guarantee cover?
- The guarantee can apply to a foreign buyer’s inability or unwillingness to pay. Eksfin guarantees up to 90 per cent of the credit.
- The guarantee can apply to amendments to laws or to events in the buyer’s home country that make it impossible to carry out payment (political risk).
Cases inside the “Marketable risk” area and which are under 2 years cannot be accommodated by Eksfin.
How much does it cost?
Eksfin charges a premium upon issuing a guarantee.
The premium amount is determined on the basis of repayment period, and is also affected by:
- Buyer’s creditworthiness: Eksfin assesses customer creditworthiness, i.e. the probability of repayment by the customer.
- Political conditions in the buyer’s country: Eksfin assesses the risk of political unrest arising in a foreign buyer’s country.
Obtain a preliminary indication using our premium calcuIator.