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.
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.
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:
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.