Guarantee for unfair calling
EKN's guarantee for unfair calling is aimed at exporters who need contract guarantees issued. It covers the risk of unfair calling of the contract guarantee by the buyer. This guarantee protects against events that occur with effect from the date on which the contract guarantee is issued.
With an EKN guarantee you know that you will receive compensation for unfair calling of the contract guarantee by your customer, which makes it easier for you to offer your customers contract guarantees.
Transactions that can be guaranteed
The guarantee for unfair calling can cover a number of different types of contract guarantee. It is used almost exclusively for unconditional contract guarantees (on-demand guarantees), where the buyer is entitled to request payment from the issuing bank without giving a reason.
You can apply for a guarantee for unfair calling for various types of foreign transaction associated with the export of goods and services. EKN can cover both small and large scale transactions with this guarantee.
Latest updated 21 Sep 2020