Counter guarantee
A SERV counter guarantee covers the Swiss exporter’s payment obligation to the guaranteeing financial institution. SERV will compensate the financial institution on first written demand if a contract bond is called and the exporter subsequently fails to meet its payment obligations to the guaranteeing financial institution.
The counter guarantee supplements contract bond insurance from SERV and allows exporters to obtain a contract bond from their financial institution more easily. Counter guarantees help exporters conserve cash because they eliminate the need for exporters to post additional collateral for their financial institutions.
- Cover Ratio: 90%, cover up to the full sum guaranteed is possible in justified, exceptional cases.
Questions? Contact:
Christian
Hendriks
Senior Vice President, Large Enterprises, SMEs & Acquisition
+41 58 551 5525