Green export credit guarantee

In order to utilise the green export credit guarantee, the export transaction must be for green products or products with an end use as part of a green activity. Cover of up to 100 per cent can be arranged, unlike EKN’s standard export credit guarantees that normally offer 95 per cent risk cover.

EKN follows the EU Taxonomy’s classification of green activities that contribute to the climate transition and climate change adaptation to determine whether an export transaction can be covered by the green export credit guarantee.

Guarantees that can be applied for as green export credit guarantees

For exporting companies:

• Guarantee for trade receivables (credit period maximum 12 months)
• Guarantee for loss on claim for exporter (credit period over 12 months)
• Guarantee for loss on production and loss on claim

For banks:

• Buyer Credit Guarantee
• Bill of exchange guarantee
• Combined guarantee for loss on production and loss on claim

Application

You submit the application to EKN no later than the date on which you deliver, but preferably in good time beforehand. An application for an offer is free of charge. In the application you will need to answer a number of questions about your export transaction and, for certain transactions, you will need to supplement these answers with financial information about your buyer. You can apply for the guarantee using a form that you can find on the web page of the respective guarantee. Several of the guarantees can be applied for digitally via EKN Online.

Attach the green appendix, to be completed by the exporter, to the application.  In the green appendix, the exporter describes the contribution to the climate transition or climate change adaptation and how the transaction does no significant harm to any of the other environmental objectives.

Offer

When you send your application, EKN assesses the risk in the transaction and the degree to which it meets the requirements in the EU Taxonomy, and provides you with a quote. The offer states the terms and conditions as well as the premium, or in other words what the guarantee will cost.

It is very important that you read EKN’s General Conditions as well as any supplementary conditions, prior to the issuance of your guarantee, so that you know what is applicable to the guarantee. These can be found on the web pages of the respective guarantees.

Request for guarantee

If you have received an offer from EKN, secure the transaction and want to have a guarantee, submit a request that you want to receive the guarantee not later than 30 days after you have made the delivery.

You apply for the guarantee on the respective guarantee’s web page where you will find the forms. Several of the guarantees can be applied for digitally via EKN Online.

Guarantee

EKN issues the guarantee, and you pay the premium during the period of the guarantee.

In the event of default

Non-payment

It is your obligation to inform EKN if your buyer is experiencing payment problems, both in your transactions that are guaranteed by EKN and in other transactions, or if you have learnt something about the buyer that could jeopardise the payment.

Payment delays must be reported as soon as possible following a delay of 30 days, or whatever applies to your specific guarantee. EKN pays compensation for completed and overdue claims following a qualification period of three months. At this point we will also take over your claim.

The form to report a delay can be found on the web pages of the respective guarantees.