Insurance for export receivables

An export enterprise is exposed to both commercial risks arising from the buyer and political risks arising from the buyer’s country. However, it may be easier to reach a deal when the seller has the option of extending the credit term beyond the customary limit; therefore it pays for the seller to prepare for risks, for instance, by applying for Finnvera’s export credit guarantee for the transaction.

When the credit term is less than two years, Finnvera can grant export credit guarantees for exports to countries outside the EU and other Western industrialised countries. If the credit term is at least two years, the above limitation does not apply; then Finnvera can grant export credit guarantees for exports to all countries that are rated creditworthy.

The granting and pricing of export credit guarantees depends largely on the creditworthiness of the buyer and the buyer’s country. For assessing creditworthiness, a country risk category is determined for each country.

It pays to apply for an export credit guarantee even before the transaction is concluded, and in any case before deliveries start.

Products

Credit Risk Guarantee
Export Receivables Guarantee

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Credit Risk Guarantee

A Credit Risk Guarantee insures the exporter against credit loss related to an export transaction. The guarantee covers either the risks due to cancellation of the delivery contract prior to the delivery or the credit risk arising from the buyer (commercial risks) or the buyer's country (political and sovereign risks).

The guarantee can be granted for individual export transactions or for continuous deliveries. It can be used for export transactions with a short-term or a medium/long-term credit period. Cover percentage is normally 75-90 %.

As an official export credit agency Finnvera can’t grant guarantees with a risk period of less than 2 years (manufacturing period + repayment period) to the following markets:

Attachments

Online Application (open a new web browser)

Short term

Application, short term (PDF)

Long term

Application, medium term/long term (PDF)
Description of the origins in the export contract (PDF)
Environmental impact questionnaire (PDF)

Anti-Bribery Declaration of the Guarantee Holder (PDF)
Anti-Bribery Declaration of the Exporter (PDF)
General condition for Credit Risk Guarantees (PDF)
Brochure (PDF)

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Export Receivables Guarantee

Intended for short-term exports to countries with political risk, Finnvera’s Export Receivables Guarantee is a lighter version of the traditional Credit Risk Guarantee.

By means of an Export Receivables Guarantee, exporters can insure their receivables from a foreign buyer against credit losses. The guarantee covers commercial risks arising from the buyer and political risks arising from the buyer’s country.

The guarantee covers the commercial risk connected with the buyer and the political risk of the buyer's country. Cover percentage is normally 75-90 %.

The exporter can also use the Export Receivables Guarantee as security for a credit by transferring the right to indemnity to the bank.

As an official export credit agency Finnvera can’t grant guarantees with a risk period of less than 2 years (manufacturing period + repayment period) to the following markets:

Attachments
Online Application (open a new web browser)

Application, short term (PDF)

General Conditions (PDF)
Brochure (PDF)