The main supplier is the party to the agreement with the end purchaser, which is in a different country than any of the suppliers. The aim of the reinsurance agreement is to share the risk with the export credit agency in the home country of the sub-supplier.
This does not result in any extra work for the exporter, which applies for a guarantee from EKN as usual. EKN then determines whether reinsurance is to be applied for. EKN issues the guarantee and pays any indemnifications.
Belgium, CREDENDO - EXPORT CREDIT AGENCY
Czech Republic, EGAP
France, BPIFRANCE ASSURANCE EXPORT
Germany, EULER HERMES
Netherlands, ATRADIUS DSB
South Korea, KSURE