Who can apply?
GIEK issues a guarantee ensuring that the exporter is paid within the agreed time. The guarantee is applicable if the buyer goes bankrupt or experiences problems paying.
What does the guarantee cover?
- The guarantee can apply to a foreign buyer’s inability or unwillingness to pay. GIEK guarantees up to 90 per cent of the credit.
- The guarantee can apply to amendments to laws or to events in the buyer’s home country that make it impossible to carry out payment (political risk).
Cases outside the “Marketable risk” area and wich are under 2 years cannot be accommodated by GIEK. Please contact GIEK Kredittforsikring AS.
How does the guarantee work?
Supplier credit guarantee to the exporter
Supplier credit guarantee with financing
How much does it cost?
GIEK charges a premium upon issuing a guarantee.
The premium amount is determined on the basis of repayment period, and is also affected by:
- Buyer’s creditworthiness: GIEK assesses customer creditworthiness, i.e. the probability of payment by the customer.
- Political conditions in the buyer’s country: GIEK assesses the risk of political unrest arising in a foreign buyer’s country.
GIEK also charges an upfront fee and a commitment fee.
Obtain a preliminary indication using our premium calculator.
Apply here: Supplier credit guarantee application form (in Norwegian).
Do you want to be prepared before you begin the application process?
We have collected all the questions you will get during the application process:
Supplier credit guarantee (in Norwegian).
FAQ about the application forms.