When problems arise in a transaction
Much can happen in your transaction, including various delays or objections against the delivery. Your customer may request a change to the payment terms, be late with payment or even be declared bankrupt. The value of pledged security may also have declined. The text below applies to the guarantee for loss on claim. If you contact us, we will tell you what applies in the case of your type of guarantee.
If problems arise with your transaction, you, as the guarantee holder, must consult with EKN as soon as possible. You are also obliged to inform EKN if your customer is having payment problems in connection with transactions other than those guaranteed by EKN.
Contact us by telephone +46 (8) 7880000 or e-mail email@example.com; please quote your guarantee reference number.
What EKN does
We discuss what measures of loss-prevention may need to be taken. These may include changing the payment plan, cancelling deliveries or production or freezing a payment under a loan agreement. If these measures result in costs for you, you may receive some compensation from EKN.
We always act in consultation with you the guarantee holder. The measures EKN takes in consultation with you and other parties may result in adjustments to the repayment plan or a more detailed reconstruction of the buyer's financial debt, which may involve writing off part of the loan.
Large transactions often involve many different parties, including EKN's counterparts in other countries. EKN maintains regular contact with other export credit agencies, in order to work jointly to minimise the risk of loss in the transaction. EKN also works closely with the Swedish embassy in the importing country, visits the buyer and engages financial or legal expertise if required.