Counter guarantee – guarantee of advance payments, execution or delivery

Sometimes foreign buyers require a Norwegian exporter to provide one ore more guarantees. We can help by issuing guarantees that a delivery will actually occur as agreed, that advance payments will be repaid if the exporter breaks the contract, or that the exported product will work as intended on delivery. It is the exporter’s bank that provides such counter guarantees to the buyer, but GIEK can relieve the bank of a portion of the amount.

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