The application process described here is relevant to most of our guarantees but is particularly suited to applicants for the buyer credit guarantee, which is GIEK’s most frequently used guarantee. This is the case whether GIEK participates with Export Credit Norway or with other banks.

If the exporter, buyer and bank have financial constraints that block or delay an export contract, a GIEK guarantee may be the solution.

Examples:

- An exporter can guarantee against non-payment during the production period (contract guarantee) or after delivery (supplier credit guarantee). The exporter can also obtain a loan guarantee to finance its costs prior to delivery (production loan guarantee or building loan guarantee).

- A buyer can obtain a loan guarantee to finance a purchase from Norway, or a guarantee framework covering multiple purchases over time (buyer credit guarantees). The buyer can also guarantee against loss of advance payment or loss due to non-delivery (bond guarantee).

- A bank can mitigate some of the risk of lending to an exporter (building loan and production loan guarantee) or a buyer (buyer credit guarantee), or of taking part in international money transfers (letter of credit guarantee).

A guarantee issued to one party can benefit everyone – so tip your business partners (including potential ones) to the possibilities. Read more under the tabs labelled Export, Buy from Norway, Services for Banks, and Maritime and Offshore.

How we work in GIEK