|Export Guarantee and Insurance Corporation (EGAP) | |
Export Credit Agency (ECA) in Czech Republic
About Export Guarantee and Insurance Corporation
Export Guarantee and Insurance Corporation (EGAP) is a credit insurance corporation that insures credit connected with the export of goods and services from the Czech Republic.
It focuses on political and commercial risks that make certain exports uninsurable by commercial insurance brokers.
EGAP insures bank loans that are due in over two years and are intended to finance the export of energy, machinery and technological systems, investment projects, transport constructions and investments.
Such exports are usually headed to countries where the political, economic, and legal environment increases the risk of default.
EGAP complements its range of commercial credit insurance products by acting as a standard export credit insurance company to promote exports from the Czech Republic.
It provides insurance services to all exporters of Czech goods, services, and investments, irrespective of their size, legal form, or volume of insured exports.
A summary of EGAP
EGAP – Benefits of using an ECA in Czech Republic
- State-backed insurance not only benefits exporters themselves, but also benefits their subcontractors and suppliers, who are usually small and medium-sized enterprises (SMEs).
- EGAP gives exporters an opportunity to seek business opportunities outside of the European Union (EU) in the rapidly growing markets of Asia, Africa, and Latin America.
- Businesses that export to these regions not only gain valuable revenue and experience, but will also gain references and connections for establishing new business contacts.
Products and services offered by EGAP
The structure of its insurance products enables EGAP to cover credit risks connected with the export of goods and services to higher-risk foreign markets, from the financing of production to the issuance of guarantees for an exporter. Examples of such products include:
- Insurance of exporter supplier credit against the risk of non-payment
- Insurance of export supplier credit financed by a bank against the risk of non-payment
- Insurance of a confirmed letter of credit
- Insurance of credit for pre-export financing of production for export
- Insurance of bank guarantees
- Special products for SMEs
Raw Materials – From tobacco to spices, gold to bronze, commodities represent a large proportion of our trade finance portfolio
Finished Goods – Our innovative structuring capabilities allow us to put together complex finance structures, even if the end goods are finished
Metals – From scrap metal to alloys, we help traders and distributors access trade, receivable or PO finance for iron, steel and non-ferrous metals