Claims

Table of content

Claims

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.

The applicant may also be the transferee of an indemnity right. There are two claim forms for export credit guarantees (Buyer Credit Guarantee and Credit Risk/Export Receivables Guarantee) that may be applied to all export credit guarantee products. However, a free-form application is also accepted.

The Guarantee Holder must comply with the terms and conditions of the Guarantee Agreement and the General Conditions for the Guarantee. The General Obligations of the Guarantee Holder include payment of the guarantee premium and submission of the claim application in due course. There are also other obligations set for the Guarantee Holder in the General Conditions for the guarantee, such as the duty to inform of the increased risk of loss or defaults.

In the event of default on the payment, the Guarantee Holder must start recovery proceedings immediately on its own initiative. The Guarantee Holder must negotiate with Finnvera the manner in which the recovery proceedings shall be carried out in case they concern any of the following:

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

The negotiation obligation does not concern situations in which the recovery proceedings must be started urgently.

Submitting the Claim for indemnification form and the required attachments to Finnvera ensures prompt processing of the claim application. With regard to the claim for indemnification, the Guarantee Holder 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)finnvera.fi or secondarily by ordinary mail to:

Finnvera plc
Claims
P.O. Box 1010
FI-00101 Helsinki, Finland

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