A counter guarantee protects the bond-issuing bank against the risk that the exporter will be unable or unwilling to pay if the contract bond is called. The cover ratio is 90 percent, cover up to the full sum guaranteed is possible in justified, exceptional cases. SERV provides counter guarantees to complement the contract bond.
Technical terms
The glossary contains precise explanations of key terms – from the Arrangement on Officially Supported Export Credits and del credere risk through to working capital insurance.
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Counter guarantee