The Supplier Credit Policy provides coverage against the main risks derived from your export contract

This insurance covers the exporter against the risk of non-payment of the contract and, optionally, against the risk of termination of the contract by the customer. 

The Policyholder is the exporting company that signs the commercial contract.

Maximum coverage percentage of 99% for commercial and political risks.. 

Risk of contract termination

• Commercial: unilateral and unjustified termination of the contract by the Importer, inability to perform the contract due to non-compliance with the obligations of the contract; or refusal of the Importer to take delivery of goods or services rendereds.
• Political and extraordinary: all the aforementioned cases provided that the Importer is a private entity. It also applies to cases in which the commercial contract cannot be performed, regardless of whether the importer is a public or private entity, due to situations of political violence (civil or international war, revolution, revolt, etc.), catastrophic events, serious economic difficulties abroad, expropriation, nationalisation of the goods or materials covered by the Commercial Contract or similar events that prevent the importer from receiving them, measures adopted by the Spanish or foreign government, etc.

Credit risks:

• Commercial: total or partial non-payment of the credit when the importer is a private entity, for a period of more than three months from the maturity date, provided there is no prior default by the Exporter or they are involved in a commercial dispute. 
• Political and extraordinary: total or partial non-payment of the credit when the importer is a public entity or, in the case of private entities, when non-payment is due to any of the following circumstances: lack of transfer or convertibility due to situations of political violence, catastrophic events, serious economic difficulties abroad, expropriation, nationalisation of the debtor or guarantors, measures adopted by the Spanish government or by a foreign government, etc. 

Eligible amounts in Cesce coverages on behalf of the State

Transactions with a payment term of two years or more

• The buyer is required to make an advance payment of at least 15% of the Exported Value (OECD Arrangement).
• Local Costs may not exceed 50% [40% in Category I countries] of the Exported Value (OECD Arrangement).
• The domestic content included in the contract must constitute at least 30% of the credit covered by Cesce in operations in countries in groups 0 to 4, 40% in countries in groups 5 to 7 and at least 20% in green operations or with SME exporters (Domestic Content Standard).

Transactions with a payment term of under two years

• The OECD Arrangement does not apply to these transactions, and therefore neither do the advance payment or Local Costs rules. Only the minimum national content requirement described above applies to these transactions..

Don’t stop bringing us your transactions. For transactions in which the established limits are exceeded based on the Spanish content, Cesce will look for the most appropriate structure to provide a solution to your financing or coverage needs, through cooperation with other ECAs, with private insurers or multilateral institutions.

Cesce sets the price according to the individual characteristics of the contract.

Ask Cesce about the conditions and price of the insurance policy when you identify a possible sale and purchase transaction. You do not need to have the contract signed.

You need to send an application, which will be examined and analysed. 

• After receiving an application, Cesce analyses the risk* associated with the requested cover based on the information provided by the Insured Party. Once the risk has been analysed, the Company submits a proposal to the decision-making body (State Risk Commission).
• If approved, Cesce will issue a proposal of terms and conditions. If the Insured Party accepts the proposal, the coverage will be formalised once the parties have signed the Insurance Policy and the Insured Party has paid the premium. 

If you are interested, please fill in and email the application form to cuentadelestado@cesce.es.   

If you have any questions, please call +34 91 193 19 99 or send us your details, and we will contact you. 

*Risk analysis focuses on the creditworthiness of the Importer. The study also examines the country risk, coherence of the contract, the exporter's ability to perform the contract, and the possible environmental impact, ensuring at all times that the transaction qualifies for coverage by the State in accordance with current regulations.

The Supplier Credit Policy may be used to obtain liquidity by discounting the collection rights

• The Exporter can designate its financial institution as the beneficiary of its rights to insurance indemnities, which can facilitate access to bank financing by discounting the collection rights of the contract.

• The Bank may request a Certificate of Coverage in which Cesce declares that all the terms and conditions of the insurance policy are fulfilled on the date on which the certificate is issued.

Find out more about the Certificate of Coverage

Certificate of Coverage model

Cesce Collaboration Agreement - Bankinter

Mitigar los riesgos asociados a la actividad internacional de las empresas exportadoras y facilitarles el acceso a la financiación.

Cesce Collaboration Agreement - EY Abogados

Acuerdo de colaboración con EY Abogados, cuyo objetivo es facilitar el acceso a servicios de asesoramiento legal a empresas exportadoras o entidades financieras que lleven a cabo una operación de exportación.