What are the benefits?
Export credit guarantees issued by INVEGA help expand export markets in countries of non-marketable risk and grow export volumes by minimising the potential risks stemming from default by a buyer.
What companies are eligible?
Micro, small and medium-sized enterprises (“MSMEs”) that have been operating for more than one year with an annual income of over €100,000 according to the approved annual financial statements for the past financial year.
What is the maximum amount?
The maximum amount of all export credit guarantees per one exporter cannot exceed €1,000,000.
The maximum amount of all export credit guarantees per one buyer chosen by the exporter cannot exceed €500,000.
The aggregate of all export credit guarantees per one buyer across all exporters cannot exceed €2,000,000.
The upper limit of liability assumed by INVEGA (guarantee rate) shall be no more than 90 per cent of the aggregate of all deferred payments.
How does it work?
The exporter wishing to make use of an export credit guarantee has to submit an application INVEGA.
How is it calculated?
A fee payable for the export credit guarantee will depend on the risk profile of a foreign buyer, risk group of the country of destination and the due date of deferred payments.
To get an idea of a preliminary amount of a guarantee fee, you can use this calculator here