Our Short-Term Trade Credit product covers the risk of a foreign buyer or foreign bank failing to make short-term credit payments for your exports as agreed. There are three different ways NZECO’s short-term cover may be used:
If your exports have a long production period or you produce custom-made products then you may be exposed to losses in the event your buyer cancels or is unable to honour your contract prior to delivery.
A Surety Bond is a financial guarantee provided to your Buyer, which provides assurance that the contracted work will be performed and/or any losses incurred due to your non-performance will be indemnified.
Our Export Credit Guarantee covers credits or loans greater than one year, provided to your foreign buyer. We cover the risk of your buyer or a foreign bank failing to make its repayments as they fall due.
This application is for a New Zealand financial institution (the Applicant) seeking the New Zealand Export Credit Office’s (NZECO) commercial and political risk coverage in respect to letters of credit and avalised bill of exchange in collection transac
Use this form if you are a New Zealand exporter seeking New Zealand Export Credit Office’s (NZECO) commercial and political risk cover in relation to short-term, open account transactions with a foreign buyer.
Trying to secure a $32 million contract is no small feat for any company. What do you do when a potential contract is not only a significant step-up in terms of size, but also requires large performance bonds or bank guarantees?