EKN (Exportkreditnämden ) promotes Swedish exports by offering guarantees that protect against the risk of credit loss in transactions abroad.

The Swedish Export Credits Guarantee Board (EKN) is a governmental agency in Stockholm which, in return for a premium, provides companies, banks and other financial institutions with state-backed guarantees against loss incurred in export transactions and foreign investment.

In practise EKN performs the functions of an insurance company. Furthermore, the EKN guarantee can be used as surety for a loan when financing a transaction. No transaction is too small to be insured and EKN works with risks in most of the countries in the world.
The EKN guarantee covers exports of goods, services and construction works. The EKN can also insure consulting services, leasing, risks when presenting bonds as well as financing from banks and confirmed documentary credits. EKN also insures Swedish companies' investments and stock-keeping abroad.
The most common guarantee of the EKN covers the risk of non-payment; Loss on Claim. Risks during production, i e that the buyer cancels the contract in part or in full, or that the contract has been interrupted for a longer period, can also be insured.
EKN insures against losses caused by political and/or commercial events. Political events relate to the importing country. They include war, natural disasters, confiscation, nationalization and most commonly, that the importing country has no foreign currency to pay with, so called transfer risk. Commercial events simply means that the buyer does not pay. The reason could be bankrupcy, suspension of payment, or that the buyer for other reasons does not pay a debt that is due according to the contract. top
An offer of guarantee from EKN is free of charge.
If you choose to insure your transaction with EKN, we charge a premium that reflects the risks of the specific transaction. The premium is dependent upon the terms of credit, the country to which the export is to be made, the creditworthiness of the buyer, existing securities and the amount you wish to be insured.
The exact premium will be specified before you receive a guarantee.
For EKN's most common guarantees, for Loss on claim and Loss on production, at the EKN the following applies:
- Exporting companies:
  Swedish and foreign companies that sell or lease Swedish products are eligible for an EKN guarantee. Transactions with a content of non-Swedish goods can also be covered by the guarantee.
- Banks:
  A Swedish or foreign bank that offers a credit to the buyer, in order to finance a transaction, can receive a guarantee for Loss on claim. top
Environmental consideration is an important part of EKN’s assessment of export transactions. EKN’s environmental policy aims to mitigate adverse environmental impact of the export guaranteed by EKN. EKN's revised environmental guidelines (into effect on 1 July 2002) are based on the Common Approaches on Environment and Officially Supported Export Credits developed within the OECD.
EKN has cooperation agreements with the following export credit agencies:
Austria , OEKB
Belgium , OND
Canada , EDC
Denmark , EKF
Finland , Finnvera
France , COFACE
Germany , HERMES
Greece, ECIO
Ireland, Trade Dept
Italy , SACE
Japan, EID/MITI
Luxembourg, Ducroire
Netherlands , NCM
Norway , GIEK
Portugal , COSEC
Slovenia, SEC
South Korea , KEIC
Spain , CESCE
Switzerland , ERG
United Kingdom , ECGD
United States , EXIMBANK
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Links ECA's:
CESCE COFACE COSEC DUCROIRE EKF ECGD EDC EKN ERG EXIM EXPORTERS FINNVERA GERLING-NCM GIEK HERMES HKECIC JBIC KEIC MIGA OeKB SACE

East-West Debt has made every effort to ensure the accuracy of this publication. Neither the company nor any contributor can accept any responsibility for -including but not limited to- errors, omissions, opinions or advice given. This publication is not a substitute for professional advice and all information is for guidance only.