Buyer Credit Insurance
We secure the timely repayment of a loan granted to a foreign buyer of Polish goods or services. Our insurance protects the bank against loan defaults or late payments resulting for commercial or political risk. Depending on the bank's preferences, we offer cover in the form of classic insurance policy.
Who is eligible
Buyer Credit Insurance is a solution to Polish and foreign banks financing export contracts carried out by Polish exporters of capital goods.
Benefits
- Financing medium and long-term contracts
- We allow a bank to safely finance an export contract with a loan with repayment period of two and more years.
- Supported countries
- The cover spans nearly 200 countires across the globe (in line with the current policy regarding state-backed export credit insurance).
- Currency of compensation payment
- Indemnity is paid in the currency of the export contract.
- State Treasury guarantee
- Payment of the indemnity is guaranteed by the State Treasury
- Financial benefits for the bank
- The insurance policy serves as collateral authorizing banks to reduce the base for creating special puropse reserves for a specific agreement for up to 100% of the amount insured.
- Insurance for multilateral projects
- One-stop-shop for multisourced export projects i.e. projects performed by exporters from several countries in the third country are covered under a single policy.
- Protection at the production stage
- Exporters are able to obtain supplemental cover against pre-shipment risk.
- Compliance with international standards
- Insurance conditions meet international standards set by OECD and the European Union.
- DOKE Program
- We facilitate access to the DOKE Program administered by the Bank Gospodarstwa Krajowego.
How Buyer Credit Insurance works
Buyer credit is provided by the bank of the exporter to a specified importer for the purchase of goods or services performed under an export contract. The credit may be granted directly to a foreign contractor of a Polish exporter or a bank of a foreign recipient (in the "bank-to-bank" scheme). Credit installments are paid out to the Polish exporter once a set of pre-defined, supporting documents have been pressented confirming the performence of contractual obligations. After the completion of the delivery or services, the credit is repaid by the importer with a prolonged repayment date. The maximum, admissible repayment term depends on the type of financed project with on average 5 to 10-year insurance cover.
Buyer Credit Insurance
Buyer Credit Insurance in the bank-to-bank scheme
Eligibility citeria
Entities eligible for financing
Buyer Credit Insurance is addressed to Polish and foreign banks financing export transactions carried out by Polish exporters i.e. companies registered in Poland.
Financing entity
The export contract concerns deliveries of capital goods and/or services (e.g. machinery, production lines, construction services).
Subject of credit insurance
The period for repayment of the loan is minimum that of two years. The subject of insurance is a loan (plus interest) made by a bank on the basis of a loan agreement to a foreign buyer or its bank, in order to finance a specific export contract. Insurance cover can also be provided for banking fees and credit for financing the insuracne premium.
Insurance rates
Our premium rates are harmonized with the OECD minimum premium rates system adopted by countries which have signed the OECD Consensus.
Do you have questions?
Please contact us.
