UK Export Finance
UK Export Finance (UKEF) is the UK’s export credit agency and a government department, working alongside the Department for International Trade.
Putting the right finance and insurance in place can give you the exporting edge, helping you to win contracts, fulfil orders and get paid.
Access to export finance
If the terms of a contract require a bond, such as performance guarantees or advance payment guarantees, UKEF’s Bond Support Scheme can guarantee a UK exporter’s bank up to 80% of the bond’s value, significantly reducing the size of the deposit needed.
To secure a multi-million dollar contract in Bahrain, Dudley firm Mechatherm needed to provide an advance payment guarantee and a performance bond from Mechatherm’s UK bank. UKEF was able to guarantee 80% of the value of both bonds, freeing up the cash the company needed to deliver and securing its reputation as a quality supplier in the region.
UKEF’s Export Working Capital Scheme can partially guarantee to cover the credit risks for lenders associated with facilities allowing the exporter to access greater levels of export working capital. This means UK companies can export if they win a contract higher in value, or win more overseas contracts, than usual.
UK suppliers to exporters can also access government-backed finance, spreading the benefits of trade to SMEs across the UK.
Managing payment risks
Export insurance is readily available in most cases from the commercial sector but for some markets securing the right cover can be a challenge. UKEF’s Export Insurance Policy helps exporters manage the uncertainties of trading overseas by protecting against non-payment under certain conditions, such as country risk.
UKEF has a regional network of Export Finance Managers to help you find solutions to your export finance challenges. Find out if UKEF can help your business and contact our team.
To find out more about this course and to check availability
Please contact the International Trade Team
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