Institution details

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EGFI - Export Guarantee Fund of Iran (EGFI)

Key facts

  • Established in 1973
  • Ownership: Public
Not Part of the OECD Part of the Berne Union

Latest update: 03/12/2021

Products

  • Short- and long-term insurance
  • Short- and long-term guarantees
  • Other products

Short- and long-term insurance


  • Whole turnover policy: Covers all exports made by an Iranian exporter to different countries against political and commercial risks for a period of 1 year
  • Specific policy: Covers one or more shipments made by an Iranian exporter to a foreign buyer under a single contract
  • Techno-engineering services policy: Covers construction projects implemented, or engineering services provided, by Iranian contracting and engineering companies against political and commercial risks
  • Export contract frustration policy: Covers loss incurred due to the frustration of the exports letters of credit/contracts
  • Discounting of export bills insurance policy: Covers risks of non-payment of the export bill discounted by Iranian banks
  • Sight letters of credit insurance policy: Covers the risk of non-payment of the issuing bank to the advising bank, after receiving documents mentioned in the letter of credit
  • Bank guarantee insurance policy: Covers the risk of calling of the bank payment guarantee, which is issued by the Iranian banks in favor of foreign financiers of Iranian technical projects in target markets
  • Investment insurance policy: Covers the principal and interest of the medium- and long-term investments made by the Iranian investors in target countries solely against political risks
    - In case the investor gets a loan from a bank for a project, he/she can assign the rights of the investment policy to the financing bank as a security


Short- and long-term guarantees


  • Local credit guarantee: For financial institutions that provide short-term local currency loans to Iranian exporters to finance export activities and provide working capital
  • Buyer’s credit guarantee: For foreign buyers who intend to import goods or services from Iran


Other products


  • Manufacturer’s credit guarantee: For Iranian exporters buying export commodities on credit terms from a domestic manufacturer
  • Forex credit guarantee: Used as a substitute for collateral required by banks granting forex facilities to Iranian exporters


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