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The purpose of credit insurance is to hedge financial institutions’ risks that may arise when providing long-term financing for Estonian export transactions where a buyer in a foreign country becomes insolvent.

In insuring credit with a repayment term of two years or more, we proceed from the Organisation for Economic Cooperation and Development (OECD) countries’ international agreement on provision of state export guarantees.


  • You gain the opportunity to offer financing to the Estonian exporter and its buyers
  • You will receive assistance in collecting debts
  • You will receive compensation if the buyer proves insolvent

For who?

  • financier

Service is suitable if

  • your client is an Estonian exporter that sells machinery or equipment, develops software or is involved in some other capital-intensive activity
  • you wish to offer Estonian exporters financing for an export transaction

Important conditions

  • Insurance covers losses your company may incur due to invoices unpaid by your client’s buyer.
  • You will be indemnified for insurance events agreed upon in the insurance policy.
  • The insurance is linked to the Estonian exporter’s export transaction
  • Insurance covers up to 95% of losses.
  • Your expenses on the insurance policy comprise your insurance premium.
  • Payment conditions for the export transaction:
    • In general, the payment term for buyers is 2–10 years (up to 5 years in OECD countries)
    • The prepayment on the basis of the export agreement is at least 15% of the transaction amount
    • repayments are made as equal instalments The term between payments may be up to 6 months

Good to know

The buyer’s credit insurance process

Fill in the form and send it to krediidikindlustus@kredex.ee. If you have any questions, contact our account managers.

Submit the following information:

  • information on the exporter
  • financial statements on the buyer for the last three years
  • cash flow forecast for the buyer
  • confirmation from the exporter that no bribe was involved

Before making an offer, we will make sure whether we understood your company’s needs correctly and explain how the insurance works.

We will make you an offer listing the conditions of the insurance and expenses related to the insurance. You can use this information to reach an understanding with the exporter and buyer on the export agreement and financing agreement.

Once you have agreed on the conditions with the exporter and the buyer and the offer is suitable for us, we will sign the insurance agreement and you will receive the invoice for the first premium.

If the buyer is late paying invoices, first send them a reminder yourself – you have 30 days to do so. If this doesn’t help resolve the problem, let us know within 14 days after the end of the 30-day period. Send us the information by email to krediidikindlustus@kredex.ee or using the form on our website.

You can file a claim if an insurance event has occurred. An insurance event may be the bankruptcy of your buyer or a situation where an invoice is 90 days past the due date set forth in the payment schedule. Fill in the claim form, appending/attaching documents that substantiate the loss.

We will make the decision on the claim within one month after receiving the application and supporting documents. We will communicate the decision to you in writing. We will start performing the buyer’s payment obligations on the basis of the schedule.

KredEx Krediidikindlustus encourages responsible business conduct in regard domestic and international business transactions. This means inter alia reasonable care for identifying and preventing situations that may involve corruption risk and for avoiding commitment to grant, acceptance or arranging receipt of bribes in connection with business transactions from which arise payment risks that the parties wish to mitigate with credit insurance.

Every person involved in business transaction must comply with all relevant laws prohibiting bribery. In case of international business transaction, it is significant to comply with laws of every relevant country. Persons involved in business transaction must implement reasonable management and internal control systems in order to assure value aligned conduct within organisation and effectiveness of control environment.

KredEx Krediidikindlustus directs attention to fact that according to Estonian Penal Code both public and private sector bribery is punishable as well as bribery offences committed in foreign states. These offences are punishable by a pecuniary punishment or imprisonment and confiscation of assets or property acquired by the offence. 

KredEx Krediidikindlustus follows OECD Council recommendations for combating bribery in international business transactions https://legalinstruments.oecd.org/en/instruments/OECD-LEGAL-0447 

As recommended by OECD Council, KredEx Krediidikindlustus requests provision of declaration that any party of a business transaction nor anyone acting on behalf of that party is not connected to bribery; is not under charge or investigation in connection to bribery and that all fees payable in connection to the transaction will be for legitimate purpose only.  Declaration may consist in conditions of credit insurance contracts or on a separate formula. Partyʼs connection to bribery may result with the following actions by KredEx Krediidikindlustus: refusal of giving insurance cover, cancellation of insurance contract, suspension of indemnification or reclaim of already paid indemnification

Contact us

Anneli Liinat
Client Manager
anneli.liinat [at] kredex.ee
Külli Saarepera
Client Manager
kylli.saarepera [at] kredex.ee
Ivika Kolk
Acting Sales Department Manager
ivika.kolk [at] kredex.ee

Before signing the contract, check the terms and conditions of AS KredEx Krediidikindlustus and, if you have any further questions, contact our specialists.