When problems arise in a transaction
If you receive information about a change of circumstances that might lead to a problem in your transaction, it is important to inform EKN straight away.
It might be that your buyer’s or borrower’s financial position has deteriorated, or there may be delays, or objections to the delivery. It might also be that defined environmental requirements have not been fulfilled.
The information on this page is intended to help those who hold one of EKN’s guarantees for export credits. If you contact us, we can explain what applies to other types of guarantee.
What you need to do
As a guarantee holder, if any risk increases in your transaction, you must inform and consult with EKN as quickly as possible. You must inform EKN if your customer is showing signs of payment problems, including in transactions that are not guaranteed by EKN, or if you learn of any changes in the customer’s financial situation that might affect the ability to pay.
What EKN does
We discuss what loss-prevention measures 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.
Latest updated 23 Sep 2020