Guarantee and other possible securities

• Securities are not required if the size of the credit does not exceed EUR 2 million and provided that the borrower is creditworthy and has the ability to repay its debts. In practice, most bill of exchange financing projects are unsecured.
• For credits exceeding 2 million euros, the aim is to obtain a pledge on the equipment to be delivered or other security. Exceptions may be made for justified reasons.

The borrower's ability to repay their debts determines the conditions set for the export credit or bill of exchange financing. The parent company’s (or operating companies’) guarantee may be relevant if the borrower's independent, stand-alone credit rating is deemed insufficient. This means that the borrower's ability to repay its debts is assessed to be insufficient, or the credit amount is high in relation to the extent of the borrower's business, and the credit cannot be granted without a guarantee.

Finnvera does not require a security from the exporter and has no right of recourse to the exporter, except in some very exceptional cases – for example, if an exporter acts in a fraudulent manner or delivers materially erroneous information on an export transaction.