Buyer credit insurance

By taking out buyer credit insurance, financial institutions can insure their claims for payment against a foreign borrower in connection with the financing of a Swiss export transaction.

The insurance can cover payment default due to political, del credere, transfer or force majeure risks. In this context, SERV defines a del credere risk as the insolvency of the foreign borrower or the non-repayment of the loan after one month of its due date.

  • Maximum cover ratio: 95%

SERV offers additional financing options, such as project financing. Aid credits are also available for various countries in the form of mixed credits that are based on international treaties.

Product Details

Object of cover

Buyer credit insurance covers the following claims arising from an export credit contract (buyer credit):

  • the claims to repayment agreed in the credit contract against the foreign debtor (the buyer or the buyer’s financial institution)
  • claims to reimbursement for ancillary financing costs (including the SERV premium)
  • interest receivable until the due date
  • default interest during the waiting period
  • prepayment penalty (“breakage costs”, costs incurred on the early repayment of a loan)

Claims for damages, contract penalties, compound interest and currency losses are excluded from the insurance.

Insurable risks

Period of insurance


The SERV insurance begins on the date when the credit is disbursed. In the case of claims for the reimbursement of ancillary financing costs, liability begins on the due date. The insurance ends on the payment of the last covered loan instalment.

Special provisions

Buyer credit insurance can be combined with supplier credit insurance in the exporter’s favour. In this constellation, supplier credit insurance protects the exporter against the risk that no disbursements are made to the exporter from the buyer credit (nondisbursement risk) after the despatch of the goods or the provision of the services due to the occurrence of an insured risk.