Bulgarian Export Insurance Agency
Last updated on 04 Dec 2024
Key facts
Also known as BAEZ, this government-owned agency provides trade insurance to Bulgarian exporters.
PUBLIC
1998
Credit rating (S&P)
BBB
BBB
Foreign currency
Local currency
Country trade data
2022 top export sectors
Mineral fuels, mineral oils products
14%
Electrical machinery and electronics
9%
Copper articles
8%
Machinery, mechanical appliance & parts
7%
Cereals
4%
2022 export destinations
Financing modalities
`
100%
100%
Products
- Covers risk of non-payment under an export contract
- Covers commercial and political risks
- Insures bank principal and interest
- Tenor: Deferred payments starting from up to 2 years and can exceed 5 years
- Premium: Linked to credit quality of the counterparty
- Approval period: 7 days for borrowers in Bulgaria, and 10–15 days for borrowers outside of Bulgaria
- Pre-shipment financing for exporters and lenders
- Post-shipment financing under export contracts or delivery in Bulgaria
- Overseas investment coverage
Policies
- Carries out activities according to the Export Insurance Act (activity on the state’s account) and the Insurance Code (activity on the account of BAEZ)
- BAEZ uses an online web portal to facilitate communication and maintain constant contact with its clients
News
- 2023: BAEZ EAD and BTPP joined their efforts in the direction of building more effective cooperation and ensuring wider recognition of the business services they provide
