ExportFind Insuranceout Policyabout UKEF export insurance

WeThis canguide helpis for exporters manageand risksbrokers inwho’ve challengingbeen markets,unable ensuringto that they get paidexport evencredit whereinsurance from the private marketsector.

You ismay notbe able to offerget insurance.export insurance instead from UK Export Finance (UKEF), the government’s export credit agency.

What it covers

OurUKEF Exportcan Insuranceinsure Policyyou offersfor coverup againstto the95% riskof of:potential losses, under an export contract.

For example, if the:

• notbuyer beingfails paidto underpay anbecause exportthey contractbecome insolvent
• notcontract beingis ableterminated toearly recoverbefore thegoods costsare ofshipped
• export performingcannot thatbe contractcompleted becausedue ofto certainpolitical eventsevents, whichsuch preventas itsnew performanceimport restrictions or leadoutbreak toof its terminationwar

How it works

ExportUKEF Insuranceexport Policy

Benefits

Exportersinsurance takingmay outhelp onewhen ofyou ourcannot exportget insurance policiesfrom receive:the private sector. For example, if you’re dealing in:

• upexports to 95%a coversingle buyer
• coversmall againstvalue lossexports suffered- duethere’s tono specifiedminimum risksamount
• high-risk markets
• emerging markets

What’s not covered

OurIt policydoes coversnot costscover incurredcertain iflosses.  theFor exportexample contractif isyou’re terminatednot paid because theof buyeran defaultsunresolved beforedispute between you and the goodsbuyer.

You’ll areusually delivered,need orto ifresolve theany buyerdispute failsor toget paya duejudgment toin specifiedyour political,favour economicbefore ora administrativeclaim events.can be considered.

Eligibility criteria

ToYou beshould eligiblealso toget takeyour outown ancargo exportor shipping insurance policy,to theprotect transactiongoods mustin satisfytransit, UKEF’sas eligibilitythis criteria,would whichnot includes,be amongcovered.

Eligibility

You others,must meet the requirementsfollowing that:conditions:

• you’re exporting from the exporterUK mustand behave carryingan onestablished business inbase the UKhere
• theyour buyer mustis carrybased onoverseas businessin overseasa country that UKEF covers
• at least 20% of the exportervalue mustof demonstrateyour anexport inabilitycomes from UK goods or services (the value can include your profit margin)
• you’re unable to obtainget creditexport insurance from the commercialprivate marketsector (you may need to show evidence that you’ve tried but usually only if your export value is over £250,000)

Type of exports covered

AllUKEF transactionsexport supportedinsurance bycovers many types of business and sectors, as long as you have the relevant export licences (if needed).

UKEF mustalways satisfy:takes climate change factors into account before deciding if it can offer export insurance for your business.

Which buyer countries are covered

UKEF provides cover based on your buyer and the country they’re located in.

Cover is not based on the country the goods or services are being exported to.

Follow these steps to check if a country is covered.

1. our

   Find foreignyour contentbuyer’s policycountry on the list of countries .

2. our

   Look anti-briberyfor andthe corruption‘cash andor environmental,short socialterm andcover’ humaninformation rightsto duecheck diligencewhether processesyou can get UKEF export insurance for this buyer country.

How many buyers you can insure

A policy will cover you for exports to one buyer.

This can be for:

• a single export contract with that buyer (with one or more shipments)
• multiple export contracts with the same buyer

TheYou transactionneed maya notseparate bepolicy supportedfor ifeach therebuyer you want to export to.

Amounts you can insure

There are sanctionsno imposedminimum onor maximum amounts that can be covered.

You do not have to insure the countryfull value of your export. You can choose to insure only a proportion of the overseasvalue.

Get customer.a quote

How you get a quote depends on your type of buyer.

CostIf your buyer is in the private sector

TheYou premiumcan payableget an instant quote online for:

• a single contract policy for ourup to 22 months
• multiple contract policy of 12 months

If you need cover for longer than these time periods, fill in this form instead.

If your buyer is determineda ongovernment or public sector body

You can get a casequote by casefilling basis.in this form.

All quotes are non-binding.


How to apply

1. ToIf findyou’re outeligible, moreyou aboutcan ourmake Exporta Insurancefull Policyapplication. It’s orfree to discussapply.

2. Underwriters will review your application. They’ll carry out an eligibility forand ourprice support,check contactbased ouron customeryour servicescompany team.finances Emailand customer.service@ukexportfinance.gov.uk.buyer risk.

3. WeThey’ll havelet alsoyou approvedknow moreif thanUKEF 40can brokersprovide tocover. deliverIt ourusually Exporttakes Insuranceabout Policy.2 Theseweeks brokersto hear back.

Help and support

You can helpget arrangefree insurancehelp from organisationsexport infinance themanagers privateor sectorbrokers inif additionyou:

• have toquestions UKabout export insurance or eligibility
• need support with the application process

Export Finance.

finance managers

OurThey applicationwork formfor UKEF and product documentation are also available ifin you’reevery readyregion toin submitthe an application.UK.

Product

Find documentationyour andnearest applicationexport form

finance manager.

Brokers

PleaseThey refercan toliaise ourwith specimenUKEF policiesfor toyou.

They assesscan whetheralso ourhelp exportarrange insurance policyfrom iscompanies suitablein for the contract.private Andsector, getif you’ve not tried that already.

They receive a non-binding15% indicationfee (withoutfor assessingproviding buyerany risk)successful asUKEF anpolicies optionalat precursorno extra cost to makingyou. aUKEF fullwill application.pay their fee out of the premium you pay.

GoUse our approved broker list to specimenfind policiesa andbroker non-bindingto indicationhelp documentyou.

Make

Sample an application.

policies

• Export

  You Insurancecan Policyview applicationsample formpolicies (PDF,to 1.22decide MB,whether 10UKEF pages)

export insurance is suitable for your export.

MoreCommission informationfor brokers

UnderUKEF obligationspays arisinga fromcommission UKto internationalbrokers tradeof agreements,15% thefor UKany governmentsuccessful policies, up to a maximum of £25,000.

This is notat permittedno extra cost to providethe exportexporter. creditUKEF insurancepays forthe marketablecommission risks.

Weout cannotof considerthe marketsexporter’s withpremium.

Commission ais horizonfor riskbroking ofservices lessgiven thanto 24the months,exporter including:

• alladvice EUon memberthe statescredit insurance market
• AustraliaUKEF’s export insurance
• Canada
• Iceland
• Japan
• Newcontinuing Zealandsupport during the life of the policy
• Norway
• Switzerland
• USA

ForUKEF thesepays countries,the exporterscommission shouldwhen approachit thereceives privatepayment market.from the exporter.

ReadOn oura guidemultiple forcontract applicantspolicy, onUKEF businesswill processespay andcommission factors,each totime findthe outexporter howpays wetheir makepremium decisionsfor ona applications.new export sale.

ReadUKEF ourdoes positionnot onpay Financialfees Crimefor Compliance.introductions.