When you do business abroad EKN offers guarantees that protect you against credit risks and certain other risks. EKN can offer guarantees when you carry out export transactions that involve
- goods
- services
- factories/plants/installations
- contract projects
- leasing agreements
- contract guarantees
You can use an EKN guarantee to provide cover for both small and large transactions.
The EKN guarantee – a step-by-step guide
This is how you apply for an EKN guarantee:
1. When you apply EKN makes a risk analysis of the transaction free of charge.
2. You receive a guarantee offer.
3. When it is time for your transaction, you inform EKN that you wish to accept the offer.
4. If something goes wrong; for example, the buyer does not pay in accordance with the purchase agreement, EKN takes over your whole claim and pays you the proportion of the amount covered by the guarantee.
5. EKN then takes joint action together with you to recover the money.
6. If EKN is successful you can recover some or all of the uncovered portion.
The application could be rejected if the initial risk analysis shows that the risk is too high. However, EKN’s personnel have considerable experience of export transactions and can often come up with ideas about how to reduce the risk associated with the transaction.
