This application is for a New Zealand bank (the Applicant) seeking New Zealand Export Credit’s commercial and political risk coverage in respect to letters of credit and avalised bill of exchange in collection transactions.
Please complete this application if you are a New Zealand Exporter seeking New Zealand Export Credit’s commercial and political risk cover in relation to short-term, open account sales with a foreign buyer.
HD Ltd is a small engineering company that specialises in hydraulics. One of their key customers is Export Cut which manufactures forest harvesting machines for export. HD helped design Export Cut’s harvest system, and supplies the hydraulic
AS Limited has secured a contract to supply 8,000 duvets to a New Zealand firm (OB Exports Limited) for export to Asia. The demand for these duvets is seasonal, and AS Limited must have these duvets available for shipments between September a
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 NZEC’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.