Servizi Assicurativi del Commercio Estero (SACE)
Last updated on 20 Feb 2024
Key facts
SACE provides Italian exporters with a broad range of insurance and financial products.
PUBLIC
1977
Credit rating (Fitch)
BBB
BBB
Foreign currency
Local currency
Authorizations and exposure
FY 2022 authorizations
Non-financial service
50%
Infrastructure and construction
12%
Chemicals and petrochemicals
9%
Metallurgy
9%
Agribusiness
4%
FY 2022 exposure
Financing modalities
`
Up to 100%
Products
- Export UP: digital trade credit insurance:
- Single orders or repeat transactions
- Insurance for non payment
- Single order: protects against the risk of non-payment and non-recovery of production costs due to revocation of the contract, undue enforcement of guarantees and destruction, damage, requisition and confiscation of exported goods
- Entirely digital trade credit insurance
- For transactions up to EUR 10 million
- Insurance for contract cancellation:
- Insurance against non-recovery of production costs, which occurs if the execution of the contract is interrupted due to commercial or political events
- Entirely digital insurance
- For transactions up to EUR 10 million
- Safe collections:
- Insurance of credit portfolio in Italy and abroad
- Also offers a policy to your bank confirming LCs for the payment of exports
- For medium-large companies which buy goods and/or services from Italy
- Corporate, project, and bank financings are possible
- Interest rate: May be variable or fixed
- Refinancing of past export contracts of up to 24 months
- May cover supply orders involving multiple contracts with different Italian companies
- Credit in high-potential markets at competitive rates with the aim of favoring the acquisition of Italian goods and services or strengthening existing commercial relationships
- For medium-large companies
- Green Push, SACE's new solution within the Push Strategy programme, aims to promote Made in Italy exports in support of the international green transition
- Provided by SACE FCT
- Modalities: Factoring without recourse , factoring with recourse , maturity factoring and reverse factoring
- SACE Easy Factoring product:
- Completely digital product
- Company must have turnover of at least EUR 500,000 and a positive net worth
- Company has been established for at least 3 years and has at least 2 employees
- Any tax debts paid in installments do not exceed 30% of the liabilities
- Debtor accepts assignment of the credit
- Company has no ongoing procedures
- Credit recovery services: SACE manages all the out-of-court and judicial activities and bankruptcy proceedings for the recovery of unpaid receivables, including those originally not covered by insurance, through a network of 200 experts worldwide
- Training and advisory services:
- Transfers SACE’s experience in Export Credit and Trade Finance to Export Credit Agencies, ministries, foreign banks, multilaterals and International Financial Institutions, mainly in emerging markets
- Offered advisory and training services: Establishing an ECA, risk and back office management, and training and advisory on traditional export credit
- Bond guarantees: Bond financings, underwritten by banks, from the Export Development Fund, promoted by SACE and managed by Amundi SGR or access other alternative finance platforms (basket bond issues)
- Contractual guarantees and construction works insurance:
- For Italian companies and their subsidiaries abroad which take part in tenders and carry out works, construction works and orders for foreign parties
- Instruments include tender bonds, energy bonds, construction bonds, customs bonds, and environmental deposits
- May be requested online
- Financing guarantees: Financing and credit lines to support international growth, through investments in production capacity, foreign acquisitions or financing the working capital of orders from foreign customers
- Construction site and property insurance
- Investment protection: Political risk insurance for investments abroad
- Equity solutions:
- Equity participation in your foreign direct investments
- For purposes of establishing the company, for capital injection and/or M&A transactions
- SIMEST takes direct participation in up to 49% of the equity of foreign Italian subsidiary
- 8 years maximum
- Interest rate subsidy available if the company is established in a non-EU country
- Investment plan and working capital financing
- Finance foreign direct investments, R&D, Capex, but also working capital needed to complete supply orders or to carry out works abroad
Policies
- Adopted OECD guidelines on corporate social responsibility: recommendations and voluntary standards of conduct regarding transparency, human rights, relations with employees, environmental protection, anti-corruption, and technological innovation
- Code of ethics requirements by SACE and acknowledgement of code of ethics by each direct counterparty
- Eligibility requirements are determined on a case-by-case basis
- Eligible Italian content may have to be at least 20% in many cases
News
- 2024: SACE signs two collaboration agreements with KazakhExport and Development Bank of Kazakhstan
- 2023: SACE launches 'Green Push' to promote Made in Italy exports and support the green transition