GIEK guarantees

We reduce risk for exporters, buyers, or their banks, depending on the guarantee product used in connection with an export transaction. Lower risk gives the parties incentive to sign a contract and increases exporter competitiveness.

Below you will find an overview of guarantees we issue to the exporter, the buyer and/or their banks. If you need help identifying your needs, try our Product guide.

The application process includes a four-step explanation of our requirements and how the guarantee application is processed and followed up.

Contract guarantee

This guarantee protects the exporter from suffering losses during the production period as a result of contract non-fulfilment by a foreign buyer.

Power purchase guarantee

Guarantees payment in connection with major contracts for the purchase or sale of electric power.

Production loan guarantee

This guarantee can be provided to Norwegian exporters that need financing of production costs linked to a specific export contract with a value exceeding NOK 50 million.

Investment guarantee

This guarantee facilitates Norwegian investment in countries with high political risk. The guarantee may cover either equity or loans.

Buyer credit guarantee

Norwegian export contracts are quicker and easier to negotiate when the buyer receives help to debt-finance the purchase. GIEK’s buyer credit guarantee can be used with a loan from Norwegian and foreign banks or Export Credit Norway.

Letter of credit guarantee

Ensures money transfer between the buyer’s and the exporter’s bank. Mitigates risk for the bank and indirectly for the exporter.

Tender guarantee

This guarantee reimburses the expenses of Norwegian companies that engage in competitive tendering for aid-funded projects in developing countries.

Bond guarantee

In some cases a Norwegian company may be asked to provide a bank guarantee to its foreign customers. The bank guarantee may cover actual delivery, advance payment or other risks the buyer takes. This is called a bond guarantee. The bank issuing bond guarantees on behalf of an exporter may apply risk sharing with GIEK. The bank can help the exporter by applying to GIEK for risk mitigation. In cases where the exporter has a continuing need for such guarantees, the bank can seek a framework agreement with GIEK.

Questions related to the application process?

Send an email to garanti@giek.no or call +47 22 87 62 00.

 

Contact

Ute Borghardt

Senior Vice President / Head of Team

Atle Bjørkheim

First Vice President