Commercial and political risk:
GIEK can offer coverage for the export of most types of products and services to over 150 countries. The guarantees can cover single or multiple transactions, and commercial as well as political risk. Commercial risk means the risk of the buyer going bankrupt or failing to pay for other reasons. Political risk includes for instance war, expropriation and actions of the public authorities that prevent payment.
Large and small businesses:
Our customers come from all parts of the country and range from small, inexperienced export companies to Norway’s biggest industrial groups. In practice, GIEK is the only organisation in Norway that can offer coverage for long term loans for the export of capital goods to developing countries, newly industrialised countries and former state-trading countries. GIEK also offers guarantees for the export of ships and for building loans given by banks to Norwegian shipyards for the building or refitting of ships.
Government guarantees make financing easier:
GIEK’s guarantees are issued on behalf of the Norwegian Government. They can be used as security for Norwegian and international banks and other financial institutions to facilitate funding. GIEK’s guarantee terms and premiums largely follow the standards and rates applying to comparable guarantees internationally.
Quick processing of applications:
GIEK knows the importance of processing applications quickly. For large-scale projects, we normally take three to four weeks to finalise processing, while smaller projects take even less time.
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Safe export:
GIEK guarantees for Norwegian companies' export credits on behalf of The Norwegian Government. With assistance from GIEK, exporters can offer credit or finance without bearing the entire risk themselves. GIEK secures competitive terms for the industry and promotes the export of Norwegian goods and services and investment abroad.
