18 December 2012
Today EKF offers export credit guarantees to small and medium sized enterprises (SMEs) within the EU/OECD with a risk period between 180 days and 2 years. But from the turn of the year, this is no longer possible. New EU principles have been introduced for credits with a risk period of less than two years, also called “short term”.
This means that EKF is only allowed to cover transactions with a risk period of two years or above within the following regions,
- The EU
- New Zealand
- The United States of America
The following conditions apply to SME transactions with credit periods between 180 days and 2 years:
- Existing guarantees and offers remain valid.
- Until 31 December 2012 EKF can issue offers with a validity period of up to 6 months.
- Existing offers remain valid throughout the entire validity period even if the expiry date of the offer is after 31 December 2012.
EKF applies for dispensation
On behalf of the Danish state EKF helps to establish common international standards for export credit and trade policy. We work to ensure that international trade is carried out on fair and equal terms to allow exporters to focus on competing on the quality and price of their goods.
We are therefore currently applying for a dispensation from the new principles. The application will apply to business transactions of both large corporates and SMEs. Whether and when we will get the dispensation remains to be seen. We will of course let you know immediately, once the issue regarding the dispensation has been clarified.