Philippines

A lower country risk category means a lower country risk. The icons mark EKN's ability to cover risks to different buyers in the country.

No policy established

EKN has not analysed this country recently and therefore has no current opinion. If an exporter submits an application for such a country, EKN performs an analysis of the country at short notice and determines a policy.

Normal risk assessment

EKN decides on guarantee issue based on an assessment of risk in the transaction. There are no predefined restrictions in the risk assessment or assumptions for risk assessment.

Restrictive risk assessment

EKN sets stricter requirements in the risk assessment in order to guarantee a transaction. EKN may have specified special criteria that are key to the risk assessment of the guarantee holder category in question. This may mean that EKN sets a requirement that the counter party must have its own hard currency earnings or that external support can be expected, or that EKN sets a requirement for a letter of credit, government or bank guarantee. If the formulation of the transaction deviates from a defined restriction, we normally set more stringent conditions and may in the worst case refuse to guarantee the transaction. More stringent conditions may be that we reduce the sum guaranteed, raise the premium or require some form of security.

Normally off cover

Here EKN does not normally cover currency transfer risks. However in some circumstances EKN may be able to go further with high risk countries than the restrictions of the country policy indicate. The application is then tested under the so-called GSL facility, which refers to guarantee issue with special country evaluation. There are specific requirements for this, primarily that the exporter has experience of the market in question. The risk is then shared with the exporter and by means of a mark-up on the premium.

OECD or EU countries

Because of EU rules, EKN cannot issue guarantees for transactions with a risk period of less than two years for exports to Australia, EU countries, Iceland, Japan, Canada, Norway, New Zealand, Switzerland or the USA. If you have any questions, please telephone us on +46 8-788 00 00.