In the event of default

Problems in a transaction may be that your buyer’s or borrower’s financial position has deteriorated or that payments are delayed, or that the buyer has objections to the delivery. It might also be that the buyer has not met the defined environmental requirements.

The information on this page is intended to help those who hold one of EKN’s guarantees for export credits. Contact us to find out what applies for other types of guarantees.

What you need to do

As a guarantee holder, you must consult with EKN as quickly as possible in the event of any risk increase in your transaction. You must inform EKN of any indication that your customer is having payment problems, including any transactions not guaranteed by EKN, or if you learn of any changes in the customer’s financial position that might affect payment capacity.

As a first step, contact your account manager or telephone EKN’s switchboard on +46 8-788 00 00. State the reference number of your guarantee.

What EKN does

We discuss any loss-prevention measures that may need to be taken. These may include changing the repayment plan, cancelling deliveries or production, or freezing disbursements under a loan agreement. If these measures result in costs for you, you may receive some compensation from EKN.

Any changes to the guaranteed contract must be approved by EKN in advance. We always act in consultation with our guarantee holders. The measures that EKN takes in consultation with you and other partners could, for example, lead to changes to the repayment plan or to a more comprehensive reconstruction of the buyer.