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Export Receivables Guarantee

Intended for short-term exports to countries with political risk. By means of the Export Receivables Guarantee, exporters can insure their receivables from a foreign buyer against credit losses.

Export Receivables Guarantee

Finnvera's renewed Credit Risk Guarantee will replace the Export Receivables Guarantee and the former Credit Risk Guarantee

The new Credit Risk Guarantee will be phased in from October 2021 on when new exporters will be granted the guarantee on new terms. The existing guarantees for continuous export will be transferred to the new terms of the Credit Risk Guarantee and Finnvera will be in contact with customers about the change. Customers will receive a new guarantee agreement to sign. The change does not require any action from exporting companies at this stage.

Read more about the Credit Risk Guarantee

Intended for short-term exports to countries with political risk. By means of the Export Receivables Guarantee, exporters can insure their receivables from a foreign buyer against credit losses.

The guarantee is particularly well suited to the export of raw materials, consumables, durable consumer goods, semi-finished goods and similar products where the payment period granted to the buyer is usually at most 180 days.

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

The guarantee covers the commercial risk connected with the buyer and the political risk of the buyer's country. 

  • Commercial risks refer to the buyer’s inability or unwillingness to pay.
  • Political risks are risks arising from the buyer’s country that are beyond the buyer’s and the exporter’s control, such as restrictions on currency transfers, rescheduling of debts, or war and insurrection.

Depending on the buyer’s country, the guarantee coverage ranges from 75% to 90%.

Finnvera may temporarily grant new export guarantees with a short-term risk period (repayment period + manufacturing period less than 2 years) until the end of 2025 to the following countries (“marketable risk” countries):

  • The Netherlands, Australia, Belgium, Bulgaria, Spain, Ireland, Iceland, Italy, the United Kingdom, Japan, Canada, Greece, Croatia, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Norway, Portugal, Poland, France, Romania, Sweden, Germany, Slovakia, Slovenia, Switzerland, Denmark, the Czech Republic, Hungary, the United States, New Zealand, Estonia

Due to the EU State aid rules, as an official export credit agency Finnvera cannot normally grant guarantees with a risk period of less than two years to the markets listed above. The service is provided by private credit insurance companies.

 Export guarantees are an exception to the rule when:

  • the applicant is an exporter that is an SME with an annual export turnover of less than EUR 2.5 million (group review), or
  • it is a question of an individual transaction with a risk period of at least 181 days.

Please note that Finnvera’s role is to complement the private credit insurance market, and, even in the exceptional cases mentioned above, the service should be primarily sought from private credit insurance companies.

Contact information for the credit insurers operating in Finland:

Atradius Credit Insurance N.V.
Tel. (09) 6811 2422

Tel. +358 (0)50 596 7431

Euler Hermes Luottovakuutus
Tel. 010 850 8500

Tryg Garanti 
Tel. +358 (0)20 7805 790 

 Finnvera’s export credit guarantees can be applied through Finnvera's Online Service.

Terms and conditions of the Export Receivables Guarantee

The guarantee is granted to the exporter. The export transaction must meet the requirement of Finnish interest. The payment terms must conform to international practices.

The guarantee may be granted for an individual transaction or for continuous exports, in which case it is valid until further notice. 

The buyer’s creditworthiness is determined on the basis of credit information and, whenever necessary, financial statements. The creditworthiness of countries is investigated by  following their economic and political situations. 

A credit limit is determined for each buyer eligible for a guarantee. The limit means the maximum amount of insured receivables outstanding at any given time.

Guarantee costs

The premium is based on the credit period of the export transaction and on the payment category determined on the basis of a risk assessment. 

For credit periods of at most 90 days, the premium is 0.40–0.75% and for credit periods of 91–180 days, 0.50–1.20%. The premium is calculated from the value of the exported goods reported by the exporter. An additional buyer-specific minimum premium is EUR 150.

Claiming indemnification

The beneficiary of the export credit guarantee, i.e. the Guarantee Holder, usually the exporter or the bank, submits a claim for indemnification based on an export credit guarantee with a signed written application. The applicant may also be the transferee of an indemnity right. 

Read more about claiming indemnification



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