Buyer Credit

• Insures a bank loan made to foreign buyer of Spanish goods and services against non-payment
• Cover: Up to 99% for both commercial and political risks
• Eligibility:
  - Typically, supply contract must be minimum of 70% Spanish content
• Project finance insurance sub-product
  - Cover determined on a case-by-case basis
  - Documentation required to assess the application includes full independent financial feasibility report, market survey, detailed description of the financial structure, evaluated technical feasibility study, environmental impact assessment (if appropriate), and legal opinion of an independent law office
  - Spanish equity participants are eligible for CESCE’s Foreign Investment Insurance policy 
• Supplier Credit
• Insures risk of non-payment by foreign buyers
• Policy may be pledged to financial institutions
• Modalities: Single- and multi-buyer cover
• Cover: Up to 99% for both commercial and political risks
• Guarantor’s bond insurance
  - Policy provided to institutions issuing surety bonds on behalf of exporters whom the foreign buyer, or the authorities of the country of destination, is required to provide such bonds in respect to an export contract
  - Cover: Up to 50% (higher in exceptional cases); commercial risk only
  - Sub-product: Bonding facility for SMEs and non-listed companies; cover determined on a case-by-case basis

Other Products

• Exporter’s bond insurance for Spain exporters requiring surety bonds; cover up to 99% commercial and political risks
• Construction and works abroad insurance for Spanish exporters performing works or services (e.g., constructional works, installations in foreign countries); cover up to 99% commercial and political risks
• Pre-shipment bank guarantees
  - For lenders providing pre-shipment working capital during the manufacturing stage, or for the discount of bills in foreign currency
  - Cover: Up to 50% (commercial risk only)"
• Foreign investment insurance
  - Insurance to banks granting loans to the foreign subsidiary of a Spanish company
  - Cover: Up to 99% (political risk only)"
• Documentary credit risk policy
  - Single- and multi-buyer options provided to financial institutions confirming L/Cs in support of Spanish exports
  - For single-buyer, currency matches the documentary credit’s currency; cover for political and extraordinary risks
  - For whole turnover, available in EUR, currency matches the documentary credit’s currency"