Authorizations and exposure

• Insures an exporter against loss caused by the unfair calling of a bond (or any related counter-guarantee) or the fair calling of a bond (and any related counter-guarantee) due to certain political events
• Insured percentage: Up to 100%
• Minimum/maximum insured amount: None
• Maximum insured period: None
• Eligibility:
• The exporter must be carrying on business in the UK
• The buyer must be in a country outside the UK
• All types of bonds can be considered with the exception of tender/bid bonds or bond for contract payments aid-funded by the UK government
• At least 20% of the contract value must consist of UK content
• The transactions must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Risks covered:
• Exporter is protected against unfair calling of the bond by the buyer or on any related counter-guarantee by the local bank
• The exporter is protected against fair calling under the bond or any related counter-guarantee, which are caused by certain political events such as government actions (including the cancellation or non-renewal of export licenses), war, hostilities, civil disturbances or other similar events outside the UK
• Fees:
• No fee for the application
• Premium payable is determined on a case-by-case basis

• EXIPs with a term of contract of more than 2 years are subject to the OECD Arrangement on Officially Supported Export Credits
• Insures an exporter against the risk of not being paid under an export contract and under certain circumstances, protects the exporter against any loss of capital they have already spend towards fulfilling the contract (e.g., where the contract cannot be completed, or is terminated early)
• Insurance percentage: Up to 95%
• Minimum/maximum insured amount: None
• Maximum insured period: None.
• Eligibility:
• The exporter must be carrying on business in the UK
• The buyer must carry on business overseas
• The exporter must be able to demonstrate an inability to obtain credit insurance from the commercial market
• The transaction must meet UKEF’s minimum risk standards
• If the term of contract is less than 2 years, UKEF cover is unavailable for exports within the EU and certain other high income markets
• At least 20% of the contract value must consist of UK content
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Risks covered (include but not limited to):
• Insolvency of the buyer
• Buyer’s failure to pay any amount due under an export contract within 6 months of the due date
• Political, economic, or administrative events outside the UK that prevent payments from the buyer under the export contract being converted into GBP or transferred to the UK
• Hostilities or civil disturbances outside the UK that affect performance of the export contract
• Fees:
• No fee for the application
• Premium payable is determined on a case-by-case basis

• Offers a partial guarantee to a bank to enable the bank to issue more bonds on the exporter’s behalf or to issue a bond without requiring as much security
• The bank may, for the duration of the guarantee, be able to increase its risk appetite for the exporter
• Five UK banks can access this scheme on a delegated basis allowing applications to submitted automatically through a digital service
• Guarantee percentage: Up to 80% of the bond value
• Minimum/maximum value: None
• Eligibility:
• The bank providing the bond must be acceptable to UKEF
• The exporter must be carrying on business in the UK, or under the Tier 1 Supplier program, must be a direct supplier to an exporter for a specific export contract
• At least 20% of the contract value must consist of UK content
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Risks covered:
• The guaranteed bank is protected against the failure of the exporter to reimburse it under its counter-indemnity if a bond is called and the bank is obliged to pay the beneficiary (buyer)
• Fees:
• No fee for the application
• The guaranteed bank pays UKEF a portion of the fee received from the exporter as a guarantee fee

• Offers a partial guarantee to a bank to enable the bank to increase its capacity to lend working capital to an exporter so the exporter can access finance both pre- and post-shipment
• The bank may, for the duration of the guarantee, be able to increase its risk appetite for the exporter
• Five UK banks can access this scheme on a delegated basis allowing applications to submitted automatically through a digital service
• Guarantee percentage: Up to 80% of the facility value
• Minimum/maximum value: None
• Maximum guarantee period: 5 years
• Eligibility:
• The bank providing the facility must be acceptable to UKEF
• The exporter must be carrying on business in the UK, or under the Tier 1 Supplier program, must be a direct supplier to an exporter for a specific export contract
• Advances under the facility must be used to pay, or reimburse the exporter for payment of, expenses incurred in tendering for or performing that export contract
• At least 20% of the contract value must consist of UK content
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Risks covered:
• The guaranteed bank is protected against the failure of the UK exporter to repay amounts due under the working capital facility upon its expiry, cancellation, or termination
• Fee:
• No fee for the application
• The guaranteed bank pays UKEF a portion of the fee received from the exporter as a guarantee fee

• EDG helps UK exporters access high value loan facilities for general working capital or capital expenditure purposes. It can provide support for finance provided by a commercial lender, which does not need to be linked to a specific contract
• Guarantee Percentage: up to 80%
• Maximum repayment period: up to 5 yrs
• Minimum transactions: GBP25 million
• Average value of EDG transactions: between GBP100 million and GBP500 million (more flexibility may be offered in certain circumstances)
• Benefits:
• The flexibility to bid for multiple contracts with a secure source of working capital
• Extra financing capability for scaling up existing export activities
• Support for investment activities to increase future export activities
• Eligibility:
• Export sales represent at least 20% of its annual turnover in any one of the last financial years or
• Export sales represent at least 5% of its annual turnover in each of the last three financial years
• All EDG applicants will be UK-based entities
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence

• Partial guarantee to a lender making a loan to a ship-buyer or operator, so that new vessels, or refits, retrofits or repairs of existing vessels can be procured from UK shipyards
• Tenor: 2 years to 12 years
• Cover: Up to 80%
• Eligibility:
• The shipyard must be carrying on business in the UK
• The bank making the loan must be acceptable
• The underlying financials and contractual structure are acceptable
• Must comply with anti-bribery and corruption policy
• Must satisfy environmental, social and human rights due diligence processes

• GEF provides partial guarantees to banks to help UK exporters to gain access to trade finance facilities.
• Maximum repayment terms: up to 5 yrs
• Facility types supported:
• Cash facilities such as trade loans
• Contingent obligation facilities such as bonding and letter of credit lines
• Facilities valued up to around GBP25 million (contact local Export Finance Manager if over GBP25 million)
• Benefits:
• More flexibility: helps UK exporters to negotiate more flexible trade finance facilities with participating banks. In turn, these facilities can provide or unlock more working capital to support the growth of UK exporting business
• Greater certainty: do not need to evidence any individual export contracts. Putting non-contract specific facilities in place will allow UK exporters to focus on their overall growth without worrying as to whether an export opportunity will be deemed supportable or not
• Improved accessibility: UKEF’s guarantee will be automatically granted to the participating bank which therefore minimizes application response time. The general nature of GEF will appeal to exporters who do not routinely enter into large, single export contracts
• Eligibility:
• Export sales represent at least 20% of its annual turnover in any one of the last financial years or
• Export sales represent at least 5% of its annual turnover in each of the last three financial years
• Additionally:
• The exporter must be able to declare that they have premises and employees in the UK, and that they pay UK or Isle of Man/Channel Islands National Insurance Contributions for Corporation Tax
• The exporter manufactures goods, delivers services or produces intangibles from the UK, which would (if required) qualify for a UK Chambers of Commerce Certificate of Origin And/Or
• The exporter does not solely engage in the supply of goods that have been manufactured outside of the UK or services where the person contracted to perform the services ordinarily carries on business outside the UK
• Guarantee fee: the guaranteed bank pays UKEF a guarantee fee, which is a proportion of the interest margin paid by the UK exporter to the bank for providing the facility
• Application: the exporter should discuss potential application with their bank, and contact details for approved lender can be found on GEF web page, including the currently five participating banks:
• Barclays Bank plc
• HSBC UK Bank plc
• Lloyds Banking Group/Bank of Scotland plc
• The Royal Bank of Scotland / National Westminster Bank plc / Ulster Bank
• Santander UK plc

• Supplier credit facilities more than 2 years in repayment tenor are subject to the OECD Arrangement on Officially Supported Export Credits
• Provision of a guarantee to a bank:
• For a loan made to an overseas buyer to finance the purchase of capital goods and/or services from an exporter carrying on business in the UK—known as a Supplier Credit Paperless Loan Facility
• To cover payments due under bills of exchange or promissory notes purchased by a bank from an exporter carrying on business in the UK, who has received them in payment for capital goods and/or services supplied to an overseas buyer—known as a Supplier Credit Bills and Notes Facility
• This enables the exporter to receive payment as soon as the goods have been shipped and/or services performed and allows the buyer a longer repayment period than may otherwise be available
• Currencies: Available in major trading currencies (GBP, USD, EUR, and JPY); other currencies considered on case-by-case basis
• Guarantee percentage: Up to 100%
• Minimum/maximum value:
• Typically, available for contracts below GBP 5 million, but UKEF can consider larger contracts
• UKEF can support up to 85% of the contact value
• A minimum of 15% of the contract value must be paid directly to the exporter by the buyer before the facility starts to be repaid; of this, a down payment of at least 5% should be received upon contract signature
• Maximum guarantee period: Typically, 2–10 years repayment tenor, although UKEF can consider shorter or longer transactions depending on the sector and transaction structure
• Eligibility:
• The guaranteed bank must be acceptable to UKEF
• The exporter must be carrying on business in the UK
• The buyer must meet UKEF’s minimum risk standards
• At least 20% of the contract value must consist of UK content
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Transactions over 2 years in repayment tenor must satisfy UKEF’s environmental, social, and human rights due diligence
• Risks covered:
• The guaranteed bank is protected against non-payment under the guaranteed bills of exchange, promissory notes, or loan
• However, the bank must take the documentation risk and will therefore need to ensure that the loan agreement and/or the bills or notes is/are legally enforceable
• Fees:
• Fees: No fee for the application
• The guarantee fee payable is determined on a case-by-case basis

• Buyer credit facilities are subject to the OECD Arrangement on Officially Supported Export Credits
• Provision of a guarantee to a bank that makes a loan to an overseas buyer to finance the purchase of capital goods and/or services from an exporter carrying on business in the UK
• Support can be considered for corporate, sovereign, and public buyers, in a range of structures including lines of credit, limited recourse project finance, public-private partnerships (PPPs), Islamic finance (Sukuk), and capital market refinancing
• This enables the exporter to receive payment as soon as the goods have been shipped and/or services performed and allows the buyer a longer repayment period than may otherwise be available
• Currencies: Guaranteed loan can be made in major trading currencies (GBP, USD, EUR, and JPY) and 65 pre-approved local currencies; other currencies considered on a case-by-case basis
• Guarantee percentage: Up to 100%
• Minimum/maximum value:
• Typically, available for contracts above GBP 5 million
• UKEF can support up to 85% of the contact value
• A minimum of 15% of the contract value must be paid directly to the exporter by the buyer before the facility starts to be repaid; of this, a down payment of at least 5% should be received upon contract signature
• Maximum guarantee period: Typically, 2–10 years repayment tenor, although UKEF can consider longer repayments in line with the OECD Arrangement
• Eligibility:
• The guaranteed bank must be acceptable to UKEF
• The exporter must be carrying on business in the UK
• The buyer must meet UKEF’s minimum risk standards
• At least 20% of the contract value must consist of UK content
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Transactions over 2 years in repayment tenor must satisfy UKEF’s environmental, social, and human rights due diligence
• Risks covered:
• The lending bank is protected against non-payment, for whatever reasons, of the installments of principal and interest due under the guaranteed loan
• Fees:
• No fee for the application
• The guarantee fee payable for cover is determined on a case-by-case basis in line with the OECD Arrangement

• Helps UK exporters access Supply Chain Finance (SCF) facilities provided by a commercial lender
• Drawn on it to discount approved invoices
• Cover: Up to 80%
• Eligibility:
• In any one of the last three financial years, at least 20% of the exporter's annual turnover has been made up of UK export sales or in each of the last three financial years, at least 5% of their annual turnover has been made up of UK export sales
• The exporter must be carrying on business in the UK, either by manufacturing goods in the UK, delivering services from the UK or providing intangibles from the UK
• The exporter must have both premises and employees in the UK
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Must satisfy environmental, social and human rights due diligence processes

• The is an add-on to the buyer credit facility and provides:
• An undertaking to the bank that UKEF will purchase the export loan by a given time
• An undertaking to the borrower that UKEF will provide a repayment guarantee for capital market bonds issued (or other replacement refinancing) to refinance the loan
• The ERF is available to banks funding non-GBP buyer credit loans, typically with values greater than GBP 50 million that are intended to be refinanced in the debt capital markets or other commercial loans
• Should such commercial refinancing be unavailable, UKEF provides certainty to borrower and banks that it will fund the loan until such time as markets reopen
• Maximum loan amount:
• 85% of the contract value
• A minimum of 15% of the contract value must be paid directly to the exporter by the buyer before the facility starts to be repaid; of the 15%, a down payment of at least 5% should be received upon contract signature
• Maximum guarantee period: Typically, 7–10 years repayment tenor, although UKEF can consider longer repayments in line with the OECD Arrangement (but minimum of 7 years)
• Eligibility:
• Exporter must be carrying on business in the UK
• Loans to overseas borrowers in the EU are not eligible under the scheme
• If UKEF is required to purchase the loan, a higher rate of interest (agreed upfront) will be applied
• At least 20% of the contract value must consist of UK content
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Transactions over 2 years in repayment tenor must satisfy UKEF’s environmental, social, and human rights due diligence
• Fees:
• If export refinancing has not taken place as scheduled, UKEF will take over the loan at a higher rate of interest until a refinancing occurs

• Direct lending facilities more than 2 years in repayment tenor are subject to the OECD Arrangement on Officially Supported Export Credits
• Offers fixed-rate loans to overseas buyers to finance the purchase of capital goods and/or services, from exporters carrying on business in the UK
• Support can be considered for corporate, sovereign, and public buyers, in a range of structures including lines of credit, limited recourse project finance, public-private partnerships (PPPs), and Islamic finance (Sukuk)
• This enables the exporter to receive payment as soon as the goods have been shipped and/or services performed and allows the buyer a longer repayment period than may otherwise be available
• Because UKEF does not offer a full range of banking services, this product is delivered in partnership with a bank or suitable non-bank entity
• Currencies: Available in major trading currencies (GBP, USD, EUR, and JPY)
• Minimum/maximum value:
• Typically, available for contracts above GBP 5million
• UKEF may limit the amount of direct lending available if country limits are close to being filled and/or for large loan values (above GBP 50 million)
• UKEF can support up to 85% of the contact value
• A minimum of 15% of the contract value must be paid directly to the exporter by the buyer before the facility starts to be repaid; of this, a down payment of at least 5% should be received upon contract signature
• Maximum guarantee period: Typically, 2–10 years repayment tenor, although UKEF can consider longer repayments in line with the OECD Arrangement
• Eligibility:
• The agent bank must be acceptable to UKEF
• The exporter must be carrying on business in the UK
• The buyer must meet UKEF’s minimum risk standards
• Agents/arrangers nominated by buyers or exporters will need to meet UKEF’s general eligibility criteria
• At least 20% of the contract value must consist of UK content
• The transaction must satisfy UKEF’s anti-bribery and corruption and sanctions due diligence
• Transactions over 2 years in repayment tenor must satisfy UKEF’s environmental, social, and human rights due diligence
• Fees:
• No fee for the application
• An administration charge will be specified in the term sheet for each transaction
• Interest rate is based on CIRR
• The fee payable is determined on a case-by-case basis

• Offers protection for a UK investor against potential losses on overseas investments due to defined political events that may arise in non-OECD country
• Coverage: Up to 90% of eligible losses
• Term: Renewable annually for up to 15 years (with annual adjustments)
• Eligibility:
• Any investment of resources may be considered for cover, including loans or subscriptions for shares
• Indirect investments and guarantees given to other investors may also be covered
• Investor must be carrying on business in the United Kingdom and not simply acting as a conduit for investment from outside the United Kingdom
• Investment must be made in an enterprise outside the United Kingdom
• Applicants must be able to demonstrate a lack of availability of cover from the private market on normal terms
• Where cover is requested for a guarantee given in respect of an investment in an enterprise, the person giving the guarantee must have an interest in that enterprise
• Risks covered:
• War, civil war, revolution, and insurrection in the host state
• Expropriation or nationalization of the enterprise in which the investment is made (or of its property) contrary to international law
• Restrictions on remittances, including exchange controls, imposed by the host state
• Fees:
• No fee for the application
• Premium payable is determined on a case-by-case basis

• Country cover policy and indicators are published on UKEF’s website

• Eligibility:
• As a minimum, support must meet the statutory remit of UKEF, and be conducive to UK exports
• At least 20% of the contract value must consist of UK content; this can include, among others, services, design, engineering, intellectual property, other intangibles, or a project management element

• Can provide finance in up to 65 pre-approved local currencies to enable buyers of UK goods and services to access finance in local currency

• Counterparties are required to provide anti-bribery and corruption declarations and undertakings

• Maximum portfolio capacity of GBP 50 billion

• The ECA has bilateral co-financing/reinsurance agreements with at least 31 ECAs worldwide, including: Austria, Belgium, Canada, Czech Republic, China, Denmark, Finland, France, Germany, Hungary, Indonesia, Iran, Italy, Japan, Korea, Luxembourg, Malaysia, Mexico, the Netherlands, Norway, Poland, the Russian Federation, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Turkey, the United Arab Emirates, and the United States of America

• In line with the OECD Recommendation on Sustainable Lending Practices and Officially Supported Export Credits, UKEF requires additional information from applications for projects in countries subject to the sustainable lending principles to ensure the Department is satisfied that any support will contribute to the economic and social development of the country, without adversely affecting its underlying debt sustainability position

• 2023: UKEF joins new international alliance to help export finance reach net zero