Export Credit Insurance

• Insures against foreign debtor’s failure to pay
• Tenor: From 180 days to 2 years (and more in exceptional cases)
• Cover: Commercial and political risks resulting in failure to pay
• Predominant part of the value of goods or services must be of Slovak origin

Factoring and Forfaiting

• Purchase of foreign receivables
• Tenor of receivables: Maturity of receivables aged between 30 and 60 days
• Tenor of financing: Ranges between 1 and 5 years
• Currency: EUR or USD
• Interest rate: EXIMBANKA SR’s cost of funds to obtain the currency plus a margin up to 3.0% per annum

Guarantees

• Non-payment guarantee to lenders to cover qualitative and quantitative conditions of export contracts
• Payment guarantees for general and technology exports up to 80% of loan amount
• Tenor usually matches loan agreement period

Refinancing Loans

• Special-purpose refinancing resources to commercial banks to grant export credits
• Tenor: Typically, up to 1 year; renewable
• Eligibility: Exports must be predominantly of Slovak origin
• Fee: Loan margin up to 3% per annum

Direct Loan

• Financing to the exporter or its lender
• Financing types and tenors:
  - Operating capital: Usually up to 2 years
  - Purchase and modernization of technology: Up to 5 years"
• Interest rate: EXIMBANKA SR’s cost of funds to obtain the currency plus a margin up to 3.0% per annum

Export Credit Insurance

• Provided to exporter's bank or other financial (commercial) company that provides credit to the foreign buyer's bank or directly to the foreign buyer
• Risks covered: Political and commercial risks
• Tenor: Over 2 years
• The minimal amount of the insured's participation in an insurance incident is at least 5%, and no more than 50% of the insured amount may be paid to the insured (exporter)
• The foreign buyer must pay more than 15% of the export contract value directly to the exporter prior to, but no later than, the delivery date of the goods and services

Other Insurance Products

• Insurance of loans to finance production destined for export against the risk of non-payment due to exporter’s inability to comply with export contract terms
• Manufacturing risk insurance
• Overseas investment insurance for Slovak legal entities
• Insurance of a confirmed export irrevocable documentary L/C
• Insurance of bank guarantees issued in relation to export contract award or performance terms