Apply for a guarantee? Please click green button to the right.
The guarantee covers commercial risk, i.e., that the sales contract cannot be carried out as a result of bankruptcy or insolvency of the byer company. The guarantee also covers political risk, i.e., if delivery cannot take place as a result of political events, war, confiscation, etc.
The maximum risk amount GIEK can cover is the cost of production, including both direct and indirect costs that the exporter has in connection with the export contract up until the breach of contract from the byer. If the exporter has received any advance payment under the export contract, the cost of production will be reduced accordingly.
GIEK can cover up to 90 % of the risk amount when covering commercial risk, and up to 100 % when covering political risk only.
Claims payment are normally done in Norwegian Kroner.
The guarantee covers the cost of production up to the eventual risk incident:
