Buyer Credit Guarantee

Apply in EKN Online in good time before the first utilisation. The Exporter(s) shall submit Exporter Declaration(s). EKN will require, amongst other, financial information regarding the borrower. 

Premium payment methods are described below in 5 Report utilisations.

The Guarantee Agreement is entered into between EKN and the Guarantee Holder, which not the least includes the General Conditions and the Special Conditions (which set out the agreed special terms and conditions for the transaction). 

When EKN has signed the Guarantee Agreeement it is published in EKN Online for authorisation (signing) by the Guarantee Holder. It is executed when the Guarantee Holder has signed the Guarantee Agreement in EKN Online.

Credit Agreement Signing Date - Report in EKN Online when the Credit Agreement Signing Date has occurred. This shall be reported as soon as possible and in any event within one month of such date taking place. An extension of the last possible Credit Agreement Signing Date can be applied for.

Effective Date - Notify in EKN Online fulfilment of the conditions for each Effective Date, that includes the standard conditions as well as any transaction specific conditions. EKN will send a confirmation of Effective Date.

Advance payment of the premium - If the premium is payable up front there is an option to make an advance payment of the premium in connection with notifying the Effective Date.

First utilisation - Report utilisations in EKN Online as soon as possible and in any event within one month of such utilisations taking place. EKN will send a confirmation of utilisation. Please ensure to check the repayment schedule in EKN Online and adjust any dates or amounts as relevant. 

Further utilisations - Report further utilisations in EKN Online as soon as possible and in any event within one month of such utilisations taking place. EKN will send a confirmation of utilisation. Please ensure to check the updated repayment schedule in EKN Online and adjust any dates or amounts as relevant. 

Premium payment methods

• Premium up front - Payment of premium in full in connection with first utilisation under each facility/tranche or in advance in connection with notifying the Effecitve Date.
• Premium per utilisation - Payment of premium in connection with each utilisation.

Notify in EKN Online non-payment by an Obligor within:

• one month from the due date of any Covered Amount under the Guarantee Agreement; or
• two months from the due date of any material amount under any other indebtedness.

Notify EKN without undue delay in case of becoming aware of, inter alia:

• an Obligor having financial difficulties;
• anything else that might put payments at risk; or
• any breech by an Obligor in relation to environmental or social matters, laws and regulations regarding sanctions, anti-corruption, anti-bribery, anti-money laundering or anti-terrorist financing.