A claim for indemnification based on an export credit guarantee can be applied for if the buyer of the export product fails to pay the invoice related to the guaranteed transaction or if the buyer files for insolvency.

Claiming indemnification

Any claim for indemnification based on an export credit guarantee must be applied by a signed written application of the beneficiary of the export credit guarantee, i.e. the Guarantee Holder, usually the exporter or the bank.

Claim is applied by the Guarantee Holder, i.e. usually the exporter. There are two claim forms: for the Buyer Credit Guarantee and for the Credit Risk/Export Receivables Guarantee, but the same forms can be used for other export credit guarantee products as well. The application can also be free-form, as long as it written and signed by the applicant.

The precondition for receiving compensation is that the exporter has i.a.:

  • complied with the terms and conditions of the Guarantee Agreement and the General Conditions for the Guarantee as well as the special conditions
  • paid the guarantee premium and handling fee invoices to Finnvera
  • made export declarations
  • informed Finnvera of the increased risk of loss or defaults
  • submitted the claim application to Finnvera in due course according to the General Conditions.

If the buyer does not pay the invoice

In the event of default on the payment, the exporter must start recovery proceedings immediately on its own initiative.

The exporter must negotiate with Finnvera the manner in which the recovery proceedings shall be carried out in the following cases:

  • use of a debt collection agency or a law firm as an agent
  • realisation of property pledged as security, and/or
  • initiation of precautionary measures intended to preserve receivables.

Submitting the Claim for indemnification form and the required attachments (e.g. invoices, delivery contract, transport documents), to Finnvera ensures prompt processing of the claim application. With regard to the claim for indemnification, the exporter must provide Finnvera with all the information, documents and other necessary clarifications or additional information requested by Finnvera, if they can be reasonably obtained.

Claim for indemnification and attachments thereto should be submitted primarily by e-mail (using a secure connection, where possible) to claims(at)

For more information on claim for indemnification, forms and process, please contact us by e-mail claims(at) or by phone on +358 29 460 11.

Claims procedure for the banks

In addition to the exporter, a claim for indemnification can be applied for by the bank. The applicant may also be the transferee of an indemnity right.

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