We have compiled here some frequently asked questions and answers about EKN’s activities. These are mainly aimed at exporting companies.


When can I use EKN?

When exporting of goods or services and you wish to be certain of receiving payment from the buyer. An EKN guarantee can be used to secure the payment and to make financing easier. 


How can the guarantees make financing of the export transaction easier?

If you or a bank offer your customer credit, the guarantee protects against loss in the event of non-payment. You can use the guarantee as security and have a bank or credit institution refinance the transaction. In this case, you assign the claim and the rights under the guarantee to the financier. An alternative for larger transactions is to ask a bank to make a direct loan to your customer.


What risks can I cover with EKN?

Different guarantees cover different risks - usually connected with non-payment - throughout the transaction process.

Find the guarantee that best suits your needs

Can EKN guarantee the export of services?

Yes. What makes goods and services different is that establishing a clear and due claim, which is a condition for the guarantee to be paid out, can involve major challenges for a service company. There can be considerable room for interpretation of whether the delivery has been completed. 


How do I apply for an EKN guarantee?

You apply for a guarantee via EKN Online or by submitting a form in which you describe your export transaction. You can find the application form under the Application tab.


Read more about our process

What does it cost?

The premium is mainly based on the buyer’s creditworthiness, the buyer country, the risk period and the size of the transaction. You can find an indication of the premium for an export credit guarantee  here.


Calculate your premium

How long does it take to get an offer from EKN?

We can normally give you an answer within a couple of weeks, providing all the information that is needed for a risk assessment is available to EKN. A more complex transaction may take longer. 


Which countries can I insure with an EKN guarantee?

EKN can guarantee transactions to almost all countries.

Because of EU rules, EKN is unable to guarantee credits if the risk period is less than two years and the buyer is in an EU country, Australia, Canada, Japan, Norway, New Zealand, Switzerland, or the USA. We refer you instead to the private credit insurance companies.

Country risk assessment

My company is a sub-contractor to exporting companies; can I use EKN?

Yes, you can use a working capital credit guarantee and investment credit guarantee for small and medium-sized companies, as well as a counter guarantee.


What information does EKN need with a guarantee application?

EKN needs to have a clear picture of your transaction so as to be able to make a fair risk assessment. The information we need is shown in the application form and any attachments. If anything changes after you have submitted the application it is important that you inform EKN. Some changes require EKN’s approval.

Read more about our process

What dates are important to remember?

When you only wish to insure the risk of non-payment, it is important to send in an application no later than the date on which your claim arises. This is usually the delivery date. Your offer will have a validity period for when you must have an agreement without reservations in place. If negotiations take a long time, you can apply to have the validity of the offer extended.

When you have an agreement without reservations, inform EKN within 30 days. You must advise that you wish to have the guarantee issued within 30 days of your delivery. For other guarantees, other dates apply; see each guarantee for more information.


What is meant by an unconditional agreement?

The date when both parties are bound by a contract and any conditions for the contract’s coming into force have been fulfilled. 


What does the excess in an EKN guarantee mean?

The excess is the part of a non-payment on which you bear the risk yourself. For example if the guarantee percentage rate is 95, this means that you are liable for five per cent of the risk. The excess need not be a definite loss for you in the event of non-payment. If EKN recovers any amount, this will be divided so that you receive what corresponds to the excess percentage, while EKN receives what corresponds to the guarantee percentage rate.


Can we share the excess with another party?

You can transfer the excess to the parent company of a group of which your company is part, to a sub-contractor or main contractor in proportion to their share, or to the bank that refinances your claim.

The excess may not be transferred to any party other than those mentioned above, through insurance or any other way, without EKN’s consent.


Can EKN only cover commercial risk?

No. Our guarantees cover commercial risk in combination with political risk. You can however choose to apply for a guarantee for political risks alone.


Do you look at my export agreement?

No, we take no responsibility for the wording of your agreement. Any problems that arise because the agreement is not correctly worded are not covered by our guarantees. 


We have subsidiaries abroad; can they apply to EKN?

Yes, we can guarantee export transactions for Swedish groups’ subsidiaries abroad. It is a requirement that we can see a Swedish export connection, directly or indirectly, and a Swedish interest. It may for example be the case that a parent company in Sweden has research and development activities and the transaction indirectly leads to export from Sweden.


We export goods that are manufactured abroad. Can EKN help us?

If your transaction has a Swedish export connection and a Swedish interest, it can be guaranteed by EKN, even if the product is made in another country. It may for example be a transaction that indirectly leads to Swedish export.


What requirements and conditions apply to guarantees for export credits?

EKN’s guarantees require there to be a written agreement between the transaction parties. The guarantee is not better than the agreement. If you wish to take up the offer from EKN, we need to have your request for guarantee and premium payment in good time. All conditions are shown in the guarantee and the general conditions.

Go to General Conditions

Can a non-Swedish company use EKN in any way?

Yes, when you buy Swedish goods or services that are included in the export transaction for which you are seeking a guarantee. 


Our buyer wishes us to invoice in local currency. Can EKN cover local currencies?

Yes, certain currencies under certain conditions. EKN always analyses and assesses the transaction and its conditions.

Other questions and answers

About sustainability Problems in a transaction

Web page last updated 21 Sep 2020